Great Depression in South Africa
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The Great Depression had a pronounced economic and political effect on South Africa, as it did on most nations at the time. As world trade slumped, demand for South African agricultural and mineral exports fell drastically. It is believed that the social discomfort caused by the depression was a contributing factor in the 1933 split between the "gesuiwerde" (purified) and "smelter" (fusionist) factions within the National Party and the National Party's subsequent fusion with the South African Party.
The sudden lack of demand destroyed prices on commodities that were profitable to many
South Africa was saved from a complete collapse by the
The National Party-led government staved off bankruptcy by raising taxes on imports,
The coalition government between
See also
References
- ^ "Vigario Seminars: The Fall of the Greatest Monetary "Tower of Babel", part 3". Archived from the original on 2008-05-29. Retrieved 2008-01-29.