© Andrew Cole 2020

The Great Depression presentation 2020. Sources References list. Andrew Cole

Books read from which the bulk of the presentation’s information was distilled.

The Great Crash 1929 John Kenneth Galbraith 1955

Britain between the Wars 1918-1940 Charles Loch Mowat 1956

The Great Depression in Europe, 1929-1939 Patricia Clavin 2000

The forgotten man: a new history of the Great Depression Amity Shlaes 2007

The Great Depression & New Deal: A Very Short Introduction Eric Rauchway 2008

The Great Crash Selwyn Parker 2008

(How the Stock Market Crash of 1929 plunged the world into depression)

Great Depression: People and Perspectives Hamilton Cravens 2009

Lords of Finance: Liaquat Ahamed 2010

(1929, The Great Depression, and the Bankers who Broke the World)

Sources for numerical data and facts. Not listed if from the fully read books listed above.

where none of these were available, used the title as a guide or defaulted to “general” category.

[2] Detailed GDP and population figures for the 20 largest economies:

Historical Statistics for the World Economy. A Maddison 2003 (OECD data). Full spreadsheet file.

http://www.ggdc.net/maddison/Historical_Statistics/horizontal-file_03-2009.xls

[3] Unemployment for the 20 largest economies. Sources varied by country…

US: Historical Statistics Table D1-10. By S. Lebergott. 1983 (US Census). Chosen based on review

of unemployment analysis sources in paper “Recent Unemployment Rate Estimates for the 1920s

and 1930s”. By Gene Smiley. The Journal of Economic History. 1983 at

https://www.economics.ox.ac.uk/materials/papers/2292/56dimsdale.pdf

Japan: Hidden from view? The measurement of Japanese Interwar Unemployment by Michiya

Kato. 1997 at https://journal.osaka-sandai.ac.jp/pdf/077-104k.michiya.pdf

Czechoslovakia: Deflation and the Czechoslovak Experience by Jana Tumova. 2015 at

file:///C:/Users/andrew/Downloads/DPTX_2014_2_11230_0_415884_0_163822.pdf

All other nations: Economic Policy and Labour Markets in Nordic Countries During the Great

Depression by O.H. Grytten 2006 (using previous research across Europe by Maddison 1982,

Grytten 1995, Grytten & Brautaset 2000). http://www.helsinki.fi/iehc2006/papers1/Grytten.pdf

Note: China, India and Latin American countries unemployment data excluded, no reliable sources

© Andrew Cole 2020

[5] Wholesale Price Index decline. Historical Statistics of the US: from colonial times to 1970. Table E40-51. P200. Produced

by US Department of Commerce. Held by the Bureau of the Census. https://www.census.gov/history/pdf/histstats-colonial-

1970.pdf Calculated peak to trough.

[6] Average rise in the FTSE Index in the 1920s. Table of FTSE All Shares Index for the 20th century at

www.finfacts.ie/Private/curency/ftseperformance.htm – a data service provider on share trading

[9] Divergence of stock prices to company earnings. From the book Lords of Finance by Liaquat Ahamed. 2009 Pages 309

[10] General Motors and Radio Corporation large share price rises. From book The Great Crash 1929 by John Kenneth

Galbraith. 1954. P40-42

[11] Albert Wiggin of Chase National Bank shorting own shares. From book The Great Crash 1929 by John Kenneth Galbraith.

1954. P167

[12] Goldman Sachs trust irregular trading. From book The Great Crash 1929 by John Kenneth Galbraith. 1954. Pages 85-90.

[15] US Immigration levels in the early 1920’s. From the US Migration Policy Institute at

https://www.migrationpolicy.org/programs/data-hub/us-immigration-trends

[16] Detailed GDP per Capita for 4 nations – US, UK, Germany and Sweden

Historical Statistics for the World Economy. A Maddison 2003 (OECD data). Full spreadsheet file.

http://www.ggdc.net/maddison/Historical_Statistics/horizontal-file_03-2009.xls

[17] Inter allied war debts after World War I. Chart from Alfred Suavy analysis of 1965 in the book “The Great Crash” by

Selwyn Parker. 2008

[20] Number of US shareholders at the point of the crash. From the book “The Great Crash” by Selwyn Parker. 2008

[21] US average import tariffs by period. Data from research paper “The Slide to Protectionism in the Great Depression: Who

Succumbed and Why?” by Barry Eichengreen and Douglas Irwin. 2009

[22] Index of International Trade 1920-1940. Chart From research paper “Trade Barriers and the Collapse of World Trade

during the Great Depression. By Jakob B. Madsen. 2001

[23] US bank bankruptcies in the 1920’s and 1930’s. From the research paper “Bank failures - a historical perspective” by Carl

M Gambs. 1977

© Andrew Cole 2020

[25] FERA and CWA employment levels. From Wikipedia article on FERA at (no source ref)

https://en.wikipedia.org/wiki/Federal_Emergency_Relief_Administration

[26] Number of participants in the Civilian Conservation Crop (CCC) scheme. From Wikipedia article on FERA at (no source

ref) https://en.wikipedia.org/wiki/Civilian_Conservation_Corps

[29] UK paid wages, prices and real wages. From the UK Office for National Statistics

Wages data: https://www.ethnicity-facts-figures.service.gov.uk/work-pay-and-benefits/pay-and-income/pensioner-

income/latest

Price inflation data: https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/cdko/mm23

[30] Homeowner loans Act. From Wikipedia article on the HOLC (no source ref)

https://en.wikipedia.org/wiki/Home_Owners%27_Loan_Corporation

[31] US lost working days due to strike action. From Historical Statistics of the US: from colonial times to 1970. Produced by

US Department of Commerce. Held by the Bureau of the Census. Table D970-985 Page 179

[34]. Blacks versus Whites unemployment rates. From the research paper “Racial Differences in Unemployment in the United

States, 1890–1990” by R. Vedder and L. Gallaway. 2009

https://www.cambridge.org/core/journals/journal-of-economic-history/article/racial-differences-in-unemployment-in-the-

united-states-18901990/7A18A11199E3E8396E2886AA92CD7983

[35] Blacks versus Whites income levels. From the research paper "Black progress and the persistence of racial economic

inequalities" by R. Higgs. 1989

[36] US election results in the 1930s. A record of all statistics relating to voting in US elections is held at

[38] Key factors in the Swedish economy in the Great Depression. From two research papers:

“Sweden – Economic Growth and Structural Change, 1800-2000”. By Lennart Schön Lund University

https://eh.net/encyclopedia/sweden-economic-growth-and-structural-change-1800-2000/

https://www.jstor.org/stable/1828837?read-now=1&refreqid=excelsior%3A3d99ee77140995525d8495f6ffe4478c&seq=1

[39] Swedish reassessed unemployment figures. From "Research paper: Economic Policy and Labour Markets in Nordic

Countries During the Great Depression” by O.H. Grytten 2006.

http://www.helsinki.fi/iehc2006/papers1/Grytten.pdf

© Andrew Cole 2020

[41] Unemployment in Germany. 3 different sources (3 sources, 1 taken as most representative)

Source 1: Most representative: Unemployment and real wages in Weimar Germany by N.H.

Dimsdale, N. Horsewood and A. Van Riel. University of Oxford. 2005 at

https://www.economics.ox.ac.uk/materials/papers/2292/56dimsdale.pdf

Source 2: Statistiken zu Detlev Humann:»Arbeitsschlacht«. Arbeitsbeschaffung und Propaganda

Propaganda in der NS-Zeit by Göttingen: Wallstein, 2011

file:///C:/Users/andrew/Downloads/Statistiken_Humann_AS%20(1).pdf Page 54

[43] Weimar federal parliament election seats allocation 1930. Wikipedia list of German Federal election results, a web page

detailing the voting and seat results for each one.

https://en.wikipedia.org/wiki/Elections_in_Germany#List_of_federal_election_results

[44] The debt status of Germany as a % of GDP, by year. Used two sources:

Research paper “Reparations, Deficits, and Debt Default: the Great Depression in Germany”. By A. Ritschl. 2012.

http://cep.lse.ac.uk/pubs/download/dp1149.pdf

[46] UK deflation in the 1920’s and 1930’s. From website economicshelp.org graphs on the history of UK inflation (original

data from the Office for National Statistics)

https://www.economicshelp.org/blog/2647/economics/history-of-inflation-in-uk/

[47] UK unemployment rate. UK Office for National Statistics, Long-term trends in UK employment: 1861 to 2018.

https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/compendium/economicreview/april2019/longtermtr

endsinukemployment1861to2018#introduction

[48] Geographical and industry variations in UK unemployment. Two sources:

By Area: Book "Britain between the wars 1918-1940" by C. Mowat. 1968. Page 465 (originally from the Ministry of Labour

report 1934)

[50] British Empire share of total UK imports and exports in the 1930’s. From the book "Britain between the war years 1918-

1940” by C. Mowat. Page 437 (and earlier years on P265-6)

[51] Industrial restructuring and new sectors. From the book "Britain between the war years 1918-1940” by C. Mowat.

Various pages.

[52] Development (Loan Guarantees and Grants) Act relief levels. From the National Archives online record of cabinet papers

on welfare, social security and self-help.

https://www.nationalarchives.gov.uk/cabinetpapers/themes/labour-conservative-policy.htm

© Andrew Cole 2020

[54] Impact of Great Depression on public taking investment risk. From research paper “Depression Babies: Do

Macroeconomic Experiences Affect Risk-Taking?”. By U. Malmendier & S. Nagel. 2007

http://www.econ.yale.edu/~shiller/behmacro/2007-11/malmendier.pdf

[55] Changes in US back voting. Online factcheck.org article “Blacks and the Democratic Party”

https://www.factcheck.org/2008/04/blacks-and-the-democratic-party/

[71] Photographs of the US Great Depression. The Farm Security Administration Photographs Archive collection held by The

New York Public Library Digital Collections

https://digitalcollections.nypl.org/collections/farm-security-administration-photographs#/?tab=navigation

[72] Video showing life in the Great Depression. Extract from documentary produced by the History Channel and ABC News,

held on YouTube.com

https://www.youtube.com/watch?v=TtttXC9tFPU

[73] New York Times newspaper headlines. From the New York Times (subscription), TimesMachine web site

German crises. From Encyclopedia Britannica video library.

https://www.britannica.com/video/180214/Overview-crises-Weimar-Republic-World-War-I

[76] Videos showing economic contrasts in UK. Extract from “Poverty in the 1930’s”. BBC.

Wealthy car owning and housing poverty. From Youtube.

https://www.youtube.com/watch?v=QqpNcHTG4uM&t=258s

[77] Video Historian recounts his experiences. Extract Roche Productions “The great Depression Part 1” by William Karel.

https://www.youtube.com/watch?v=bCEJ65H_1XE

© Andrew Cole 2020

Health and Mortality Rates references:

[80] League of Nations, Health Organisation 3 works on linkage between the economic slump and health. From research

paper “Mortality rates or socio-medical indicators? The work of the League of Nations on standardizing the effects of the

Great Depression on health” by Monica Garcia. 2014

https://academic.oup.com/heapol/article/29/1/1/599144

For Your Health?” by Christopher Ruhm. 1996

https://www.nber.org/papers/w5570.pdf

Boris Boriosov. https://www.northstarcompass.org/nsc0903/amholomor.htm

[84] States population health evolves better during recessions than in expansions. From research paper “Life and death

during the Great Depression” by J.A. Tapia Granados & A.V. Diez Roux. 2009.

https://www.pnas.org/content/106/41/17290.full

http://eh.net/eha/wp-content/uploads/2016/08/ClayTroesken.pdf

[87] Infant mortality rates during the Great Depression. Two papers:

Research paper. “Infant Mortality in the 20th Century, Dramatic but Uneven Progress” by M. Wegman. 2001

https://academic.oup.com/jn/article/131/2/401S/4686951

Research paper. Infant Mortality During the Great Depression in Hamilton, Ontario (1925-35): Trends, Causes, and

Implications”. By M. Janjua. 2009

https://macsphere.mcmaster.ca/handle/11375/9043

https://www.migrationpolicy.org/programs/data-hub/us-immigration-trends

[90] Punch cartoon library

https://www.punch.co.uk/search-page

[91] War reparations final settlement and payment. Online article in The Guardian newspaper.

https://www.theguardian.com/world/2010/sep/29/germany-reparations-first-world-war

[92] Explanation of Buying on Margin. From Investopedia investing education series.

https://www.investopedia.com/terms/b/buying-on-margin.asp

© Andrew Cole 2020

Individual links for web-based generic images: cartoons, newspapers and photos:

[79a] https://en.wikipedia.org/wiki/Calvin_Coolidge#/media/File:Calvin_Coolidge_cph.3g10777_(cropped).jpg

[79b] https://en.wikipedia.org/wiki/Herbert_Hoover#/media/File:President_Hoover_portrait.jpg

[79f] https://aeon.co/ideas/we-have-the-tools-and-technology-to-work-less-and-live-better

[79g] https://i.pinimg.com/originals/7b/3f/4e/7b3f4e4dcbb9be68382037f444d9a888.png

[79h] https://hdl.huntington.org/digital/collection/p9539coll1/id/23584/

[79i] http://www.vintageadbrowser.com/money-ads-1920s

[79j] http://tickertapemachines.com/files/universalrestored1.jpg

[79n] http://footage.framepool.com/en/shot/355880737-pecora-commission-jp-morgan-jr-confession-banker

[79o] https://www.flickr.com/photos/pr9000/2867415537

[79p]

https://en.wikipedia.org/wiki/Federal_Reserve_Board_of_Governors#/media/File:US_Federal_Reserve_Board_of_Governors

_meeting_1922.jpg

[79q] https://www.ocregister.com/2011/07/02/amity-shlaes-myth-of-the-businessman-president/

95469170.html

[79u] http://news.bbc.co.uk/1/hi/business/7655472.stm

[79v] https://www.tapatalk.com/groups/theerant/wall-street-in-panic-news-headline-t10785.html

[79w] https://clickamericana.com/topics/money-work/great-depression-newspaper-headlines-stock-market-crash-1929

[79x] http://www.grips.ac.jp/teacher/oono/hp/lecture_J/lec05.htm

© Andrew Cole 2020

[79aa] https://www.history.com/news/how-did-the-gold-standard-contribute-to-the-great-depression

[79ab] http://sebhistory12.weebly.com/gussaf-stresemann-and-the-dawes-plan.html

[79ac] https://research.calvin.edu/german-propaganda-archive/sturm28.htm

[79ag] http://www.begbiecontestsociety.org/DEPRESSION.htm

[79ah] https://hoovervillet.weebly.com/the-great-depression.html

[79ai] https://www.sutori.com/story/the-new-deal-first-days-finance--mbsd7ucr2vv7spgekuSyHM79

[79aj] https://www.history.com/topics/great-depression/glass-steagall-act

[79ak] https://en.uncyclopedia.co/wiki/File:St_Peter%27s_Soup_Kitchen.gif

[79ao] https://en.wikipedia.org/wiki/Bonus_Army#/media/File:Bonus_marchers_05510_2004_001_a.gif

[79ap] http://theconversation.com/martin-luther-king-jr-union-man-110004

[79aq] https://theconversation.com/detroit-1932-when-diego-rivera-and-frida-kahlo-came-to-town-38884

[79ar] https://www.wikiwand.com/en/Agriculture_in_the_United_States

[79as] https://www.gettyimages.co.uk/photos/new-madrid-

[79av] https://www.washingtonpost.com/news/retropolis/wp/2018/08/13/the-time-a-president-deported-1-million-

mexican-americans-for-stealing-u-s-jobs/

[79aw] https://rarehistoricalphotos.com/there-no-way-like-american-way-1937/

[79ax] https://www.newframe.com/the-power-of-the-black-working-class-in-the-us/

[79ay] https://1.files.edl.io/M0b8hlWissGThnkLxQx9l21tChcu6xXv5D0DdxjyZLCNeo0Z.jpg

[79az] https://i.pinimg.com/originals/0d/61/fc/0d61fc7c7617e0351facbf39692a3157.jpg

© Andrew Cole 2020

[79bb]

https://en.wikipedia.org/wiki/Alphabet_agencies#/media/File:Editorial_cartoon_mocking_FDR's_%22Alphabet_agencies%22

.jpg

[79bc] http://apushcanvas.pbworks.com/w/page/52180645/New%20Deal%20Cartoon%20Explained

[79bg] http://zefys.staatsbibliothek-berlin.de/index.php?id=start&L=1

[79bh] https://en.wikipedia.org/wiki/Danatbank#/media/File:Bundesarchiv_Bild_102-

12023,_Berlin,_Bankenkrach,_Andrang_bei_der_Sparkasse.jpg

[79bi] https://scottishunemployedworkers.net/history-of-unemployment/

[79bj] https://www.thevikingcentre.co.uk/jarrow-march/

[79bk] https://www.reddit.com/r/ukpolitics/comments/5h9p0t/this_was_the_famous_election_poster_1935_national/

[79bo] https://www.businessinsider.com/1920s-germanys-hyperinflation-was-in-this-astonishing-chart-2014-12?r=US&IR=T

[79bp] https://fineartamerica.com/featured/great-depression-iowa-farm-family-1936-daniel-hagerman.html?product=poster

[79bq] https://www.delsjourney.com/close-ups/us/waltons/waltons_story.htm

[79br] http://americainclass.org/sources/becomingmodern/prosperity/text4/politicalcartoonscrash.pdf

[79bs] https://www.archelaus-cards.com/store/archives/images/1931-01-02-c.gif

[79bw] https://mtviewmirror.com/hoover-blamed-for-great-depression/

[79bx] not found original source for this cartoon

[79by] http://coffeewithken.blogspot.com/p/cartoons.html

[79bz] https://www.nps.gov/articles/closing-the-door-on-immigration.htm

[79ca] https://www.archelaus-cards.com/store/archives/20090301.php