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The depression hit Australia with great severity. Te country did not respond to the symptoms of a depression. Australia kept borrowing money and ended up owing over 200 million pounds, mainly to Britain. The economic status of Australia in the 1920’s was growing in demand in certain areas. The other half of the economy was suffering through a recession. The federal government due to the misleading facts that it presented most probably misread Australia’s economic status. The fact that the government did not notice the symptoms early created a deeper hole for them to get out of. The agricultural industry at first was the main industry in which a recession was occurring. This was another setback for the newly developed country because the agricultural industry was the biggest industry in Australia. Agricultural produce fell and the farmers suffered through a harsh time. The farmers were soon to be joined with the rest of the country and along with many parts of the world to form a global depression.
Approximate Word count = 664
Approximate Pages = 2.7
(250 words per page double spaced)
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