The Wall Street Crash on October 29th 1929 was one of the most devastating stock-market crashes in American History. Also known as Black Tuesday, it will long be remembered, by not only those who suffered from it but also by historians all around the world. In the days leading up to the crash the market was unstable. . Periods of panic selling and high volumes of trading were interspersed with brief periods of rising prices and recovery. That all changed. When the crash happened stock prices fell on the day and continued to fall at an alarming rate for a whole month.
Would this help Hitler In his attempt to take control of Germany? In 1923 Germany went through a period called the years of crisis. In 1923 many things occurs which lead to this period being given such a name. Firstly in January the French invaded the Ruhr the German industrial lands. This meant there was high unemployment as the workers refused to work. In February hyperinflation started this meant that money was basically worthless. Towards the end of the year Stresemann was employed to sort out the problem. Adolf Hitler was found guilty of taking part in the Beer Hall Putsch in 1923 he sentenced to five years in prison.
Hitler was sent to Landsberg Castle in Munich to serve his prison sentence. He was treated well and was allowed to walk in the castle grounds, wear his own clothes and receive gifts. Officially there were restrictions on visitors but this did not apply to Hitler, and a steady flow of friends, party members and journalists spent long spells with him. Whilst in prison Hitler wrote his book ‘Mein Kampf’, an autobiographical book with political view and Nazism. The book is severely racist giving a view of white supremacy with Jews being down the bottom of the list.
The book gave the Nazi’s strong racial hatred towards the Jews and it was from this Hitler had achieved his goal. Stir things up in Germany. Hitler was released from prison in December 1924 after only serving 6 months of his sentence. When released Hitler, he realised that he needed to change his tactics in order to push forward the Nazi’s. He decided that instead of violence the Nazi’s needed to be more reasonable and do more talking instead of hurting. He believed he should get elected instead of forcing it upon people. He was now following the rules of democracy.
Now after Hitler’s release Germany was a very vibrant and buzzing modern country. Of course Hitler hated this because he was very traditional and wanted Germany how he wanted. However, instead of getting angry he used his brain and started to use this new modern Germany to his advantage. He started propaganda campaigns on the radio which was unheard of at the time. He though he could get through to many more people through the airwaves. This was brilliant propaganda but he still used posters and flags to reinforce the Nazi message. In 1294 the Dawes Plan was signed and agreed by the Reichstag.
This meant that the Germans could pay back the reparations debt from after the war. It was a large lone that meant they could pay back the allies but then would have to pay back Germany later. Up until 1929 Germany was still in great depression despite the best efforts of Stresemann. In June, another loan was taken out by Germany. The Young plan was a large loan which would also help pay off the reparations. They thought this would help them. Weeks before the crash came the untimely death of Stresemann, this shocked the Germans because he had been the only hope through the desperation.
When the Wall Street crash occurred it turned out the Young Plan came back round to bite them. With America going bankrupt and Germany owing them a lot of money they inevitably turned to the Germans and asked for the money back. Of course the Germans didn’t have all the money so they had to give them whatever they had which left Germany also in bankruptcy. For the Germans they now started believing the Nazi propaganda and they were so desperate that they really though Hitler would help them. The propaganda campaign had worked the Nazi’s grew in popularity and they were now the most powerful party in the Reichstag.