&NBSP &NBSP &NBSP &NBSPEven though the Great Depression happened many years ago there is still some difference of opinion on exactly how it happened. This is partly because there were so many things happening within that period of time. For the most part it was a fairly turbulent time of peace in between the two largest wars of the 20th century. Add on to that the readjustment to the gold standard after many countries suspended it during the First World War and you have quite a world-wide financial mess. Also, the return to the gold standard by many countries was a problem because they set the value back to the pre-war value of gold. This caused severe problems because each country's supply of gold had likely changed dramatically during the war. Given all the evidence of turmoil during this time, it is fairly easy to see that the United States was not the only country going through some sort of depression or recession. Although there are still some people that think it all beg!

an with the United States in October 1929. It may be true that the U.S. was one of the hardest hit by the Depression which was easy to see by looking at the enormous market crash in, but that

but that it was not the inevitable conclusion of the war. The Great Depression is such an event that will likely never be completely explained because its cause is so multi-faceted.

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&NBSP &NBSP &NBSP &NBSPA great number of people think that the Great Depression started in the United States with the market crash of October 1929, but with all of the evidence to disprove the fact it is very hard to believe. John Garraty tell us that

&NBSP &NBSP &NBSP &NBSPThe First World War did not entirely lead to the failure of the gold standard but Temin considers the Great Depression a result of the war. He says "the Great Depression was caused... by the strains of the First World War on the gold standard. (Temin 33). Peter Temin considers of the events leading up to the depression as a chain of events all related to eachother. However, he does not look at the depression as an inevitable result of the war (33). He looks at the gold standard as a result of the war and the depression as a result of the gold standard. The depression was not an inevitable result of the war as was the failure of the gold standard. This is because it was caused by a combination of factors related to the war, the gold standard, and reparation payments. "It was the combination of the shock of the First world War, and unchanging international institution, and an unyielding policy regime that generated the Great Depression" (Temin 33). Given all!

&NBSP &NBSP &NBSP &NBSPDuring this time the Germans had a numerous problems to deal with. They had to deal with both deflation of their currency and the reparation payments that needed to be paid to the U.S. Interestingly enough

&NBSP &NBSP &NBSP &NBSPThe financial conditions and environment were very difficult between the time of the first and second world wars. I would suppose you could even say that "it was impossible to maintain the gold standard in the interwar period' (Temin 38). The readjustment to the gold standard at its prewar value was very difficult. In fact "conditions were very different, making restoration of the gold standard arduous. It therefore required intense attachment to the gold standard to complete its restoration" (Temin 38). As it turned out many countries could not afford to stick to the gold standard during this period. "When the attempt to preserve the gold standard finally failed, alternative monetary arrangements were put together in the worst possible conditions" (Temin 38). When these countries tried to reconstruct after the failure of the gold standard, the conditions led to even bigger problems.

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Approximate Word count = 1782
Approximate Pages = 7 (250 words per page double spaced)