Recovery from the Depression

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Australian History and other Australian topics.

How did Australia recover from the Depression?

Recovery from the Depression

Recovery from the depression, led from 1929 to early 1932 by James H. Scullin and the Labor Party, was extremely uneven. Deflationary economic policy contributed to economic effects that were far more harsh than those felt elsewhere in the world. Disagreement on government policy broke Labor again in 1931, and for the rest of the 1930s the United Australia Party, composed of former Nationalists and disenchanted Laborites, held the reins of power. The party was led by Joseph Alyosus Lyons.

From its first assumption of responsibility in foreign affairs, Australia had been guided by its cultural and political ties with Britain. Emphasis was therefore placed on following Britain's leadership in solving the problems of the depression. Chief among these was an attempt to redirect more trade between Britain and the dominions. As early as the 1920s, however, Japan and the United States were among Australia's best customers for its wool crop. Against its own interests, but motivated in part by fear, Australia sought to reestablish British trade at the expense of its relations with Japan. In the League of Nations and within the Commonwealth of Nations, Australian governments also tended to support appeasement and other policies in an effort to prevent war with the Fascist powers.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Australian Tip Site? Request a Tip Now!


Guru Spotlight
Joe Wallace