Primary Sources: Economy in the Interwar Period

Compiled and annotated by Eman M. Elshaikh, additional edits by Terry Haley
This collection explores the changes in various economies as well as the global economy between the two world wars. These sources are largely visual images, such as posters and photographs, as well as some text sources. All concern the effects of these economic challenges and what governments did to meet them.

Cookie Policy

Our website uses cookies to understand content and feature usage to drive site improvements over time. To learn more, review our Terms of Use and Privacy Policy.

Women and children line up for rations handed out from a train carriage.

Introduction to this collection

This collection explores the changes in various economies as well as the global economy between the two world wars. These sources are largely visual images, such as posters and photographs, as well as some text sources. All concern the effects of these economic challenges and what governments did to meet them.

Guiding question to think about as you read the documents: How did different nations attempt to overcome economic crises after 1900?

WHP Primary Source Punctuation Key

When you read through these primary source collections, you might notice some unusual punctuation like this: . . . and [ ] and ( ). Use the table below to help you understand what this punctuation means.

Punctuation What it means
ELLIPSES
words words
Something has been removed from the quoted sentences by an editor.
BRACKETS
[word] or word[s]
Something has been added or changed by an editor. These edits are to clarify or help readers.
PARENTHESES
(words)
The original author of the primary source wanted to clarify, add more detail, or make an additional comment in parentheses.

Contents

Source 1 – Economic hardship in photographs, 1930–1938 (0:35)

Source 2 – Works Progress Administration posters, 1935–1940 (4:40)

Source 3 – Social security poster, 1935 (7:05)

Source 4 – Speaking of Dust Storms, 1937 (9:05)

Source 5 – On the Grain Front, 1928 (10:10)

Source 6 – Harry Byers’ diary while in the USSR, 1930–1931 (14:35)

Source 7 – Statistical Yearbook of the League of Nations, 1930–1931 (17:20)

Source 8 – Report on food situation in Germany, 1917 (19:50)

Source 9 – German hyperinflation in photographs, 1919–1923 (23:05)

Screenshot pointing to the "Listen to audio" button.This document is also available as an audio file. Click Listen to audio button to access a reading of the article.

Timestamps are in the source title. To locate a specific source in the audio file:

  1. Click the Download files button.
  2. Choose the Audio File option then the Download button. The file opens in a browser window.
  3. Use the controls in the playback bar to locate the specific source.Screenshot of the audio playback bar.

Source 1 – Economic hardship in photographs, 1930–1938 (0:35)

Title
Multiple untitled photographs
Date and location
China, United States, India, Great Britain, Germany, 1930–1938
Source type
Primary source – photographs
Author
Multiple photographers
Description
The Great Depression impacted multiple economies around the world for a variety of reasons, including crop failure, problems in the financial market, and the aftereffects of war. These photographs provide a glimpse of how this economic hardship looked in many places across North America, Europe, and Asia.

Guiding question

How did different nations attempt to overcome economic crises after 1900?

Excerpt

China

Portrait of a mother and child famine refugees.

“A mother and child, refugees from Shantung during the famine in China.” (Photo by Topical Press Agency/Stringer/Getty Images)

United States

Large family in front of a simple wooden shack.

Housing crisis. “1935: An African-American family near Southern Pines, North Carolina.” (Photo by MPI/Stringer/Getty Images).

Field of small shacks on the outside of town.

Housing crisis. “7/16/1934-Hooverville, a section of Seattle.” (Photo by Bettmann/Getty Images).

Rows of tents to house unemployed workers to be trained for forestry work.

Housing crisis. “Tents to accommodate unemployed workers from Chicago and Milwaukee, who will be trained in forestry work as part of President Franklin D. Roosevelt’s New Deal, at the Fort Sheridan United States Army Post, Illinois, circa 1935.” (Photo by FPG/Hulton Archive/Getty Images)

Crowd of women holding signs in protest.

Protests. 1935: “Unemployed, single women protest the job placement of married women before themselves at headquarters of the Emergency Relief Administration [E.R.A., not to be confused with the Equal Rights Amendment, which came later and is also called the E.R.A.] in Boston, Massachusetts.” (Photo by Bettmann/Getty Images).

Protest scene with men holding signs and fights breaking out between strikers and scabs.

Protests. c. 1935: “A scene depicting unionized strikers fighting with a group of ‘scabs’ or nonunion replacement employees as they try to cross the picket line at a factory. One of the strikers’ signs reads ‘We fight fascism.’ Several men lay unconscious on the ground.” (Photo by American Stock Archive/Getty Images)

India

A row of strikers lying down preventing workers from entering a shop.

“(Original Caption) 4/12/1930-India- A long line of workshop strikers in this city lying prone, in front of the gate of their shop, preventing strike-breakers from entering and resuming work. These are supporters of Mahatma Gandhi, the rebel who seeks independence for his country from British rule. Gandhi adherents throughout the land have rioted and clashed with British authorities, causing the death of one and the injury of others.” (Photo by Bettmann/Getty Images)

Great Britain

Crowd of marchers protesting in London.

“1933: Hunger marchers on their way to a rally in Hyde park” London (Photo by Keystone/Stringer/Getty Images).

Germany

Line of well-dressed children, some holding signs, protesting the plight of poor children in their city.

“Children of wealthy parents march in Berlin to highlight the extent of poverty among the city’s children, circa 1930. Their placards read ‘Kinder In Not’ (Children In Need!).” (Photo by General Photographic Agency/Stringer/Getty Images)

Soldiers feed a crowd of unemployed from a mobile canteen.

“Germany, 19th November, 1931, German soldiers serving out food for the unemployed and destitute in their soup kitchen” (Photo by Popperfoto/Getty Images/Getty Images).

Citation

Getty citations under each image.

Source 2 – Works Progress Administration posters, 1935–1940 (4:40)

Title
WPA posters
Date and location
1935–1940, United States
Source type
Primary source – posters
Author
Multiple authors
Description
A major part of US President Franklin D. Roosevelt’s legacy was the New Deal, a group of programs, public work projects, financial reforms, and regulations between 1933 and 1939. Among its programs was the Works Progress Administration (WPA), which employed millions of men in public projects, especially in creating new infrastructure. It also employed musicians, artists, writers, actors and directors in arts, drama, media, and literacy campaigns designed to increase public health and welfare. Below are some posters produced under the WPA.

Guiding question

How did different nations attempt to overcome economic crises after 1900?

Excerpt

Photograph of workers mending a road.

“(Original Caption) WPA Work Program: Curb stones removed and street widened by making sidewalks narrower. Photograph, ca. 1935.” (Photo by Bettmann/Getty Images)

Poster supporting community libraries with an image of the Thinker.

“A poster for the Works Progress Administration (WPA) promoting libraries, circa 1940. The slogan reads ‘For greater knowledge on more subjects use your library often!’.” (Photo by Epics/Getty Images)

Poster supporting an exhibition of children's art in New York City. Shows a simple kid's drawing of a horse.

Poster advertising a WPA-funded exhibition of children’s art in New York City from December 1937 to January 1938. (Photo by Found Image Holdings Inc/Getty Images)

Poster showing youths playing basketball, baseball, and volleyball.

US Federal Art Project WPA Illinois. 1939 “Poster showing youths playing basketball, baseball, and volleyball.” (Photo by Photo12/Universal Images Group/Getty Images)

Citation

Getty images under each image

Notes or additional materials

Students can view a large collection of these posters at the Library of Congress. Use this link to start: https://www.loc.gov/collections/works-progress-administration-posters/about-this-collection/.

Source 3 – Social security poster, 1935 (7:05)

Title
A monthly check to you
Date and location
1935, United States
Source type
Primary source – government poster
Author
Unknown
Description
Social Security is an American program that was signed into law by Franklin D. Roosevelt in 1935. It is designed to provide financial support during retirement for American workers who pay into the system over their lifetimes. Social Security works by taking a percentage of income and putting it into a reserve. From this reserve, a government agency pays out benefits to those who are eligible for them.

Guiding question

How did different nations attempt to overcome economic crises after 1900?

Excerpt

Poster in support of the US social security program with the title "A monthly check for you."

Citation

“’A Monthly check to you’ vintage poster introducing the Social Security program for the elderly, 1935”. (Photo by GraphicaArtis/ Getty Images).

Source 4 – Speaking of Dust Storms, 1937 (9:05)

Title
Speaking of Dust Storms
Date and location
1937, United States
Source type
Primary source – political cartoon
Author
Edgar F. “Steve” Schilder (1888–1963)
Description
This cartoon was published in the Syracuse Post-Standard in 1937 and made a comment about the New Deal.

Guiding question

How did different nations attempt to overcome economic crises after 1900?

Excerpt

Poster with an anti-tax message with the image of a man burdened under the weight of an enormous bundle labeled "taxes."

Citation

“1937: A man struggling under the burden of taxes which financed the New Deal policies of President Franklin Delano Roosevelt’s government.” (Photo by MPI/Stringer/Getty Images)

Source 5 – On the Grain Front, 1928 (10:10)

Title
On the Grain Front
Date and location
1928, USSR
Source type
Primary source – political speech
Author
Joseph Vissarionovich Stalin (1878–1953)
Description
Stalin was the political leader of the Soviet Union from 1924 until his death in 1953. This source is an excerpt from a speech he gave in response to a question from a student regarding problems with the grain supply. It was during a talk at the Institute of Red Professors, the Communist Academy, and the Sverdlov University on May 28, 1928.
Here, Stalin reveals his thinking in how he formulated the five-year plan, sharing his ideas about industrialization and collective farming. The first five-year plan began shortly after this talk in October 1928. One part of the plan was called “collectivization”, which forced private farms to be combined into collective state farms. In response, many farm owners (kulaks) destroyed their crops and livestock, leading to some food shortages. These shortages worsened as available food was not distributed well.
Key vocabulary
capitalist
elements
cardinal (adjective)

thereby
yield (noun)
kulaks

Guiding question

How did different nations attempt to overcome economic crises after 1900?

Excerpt

The underlying cause of our grain difficulties is that the increase in the production of grain for the market is not keeping pace with the increase in the demand for grain. Industry is growing. The number of workers is growing. Towns are growing. And, lastly, the regions producing industrial crops (cotton, flax, sugar-beet, etc.) are growing, creating a demand for grain. All this leads to a rapid increase in our requirements as regards grain—grain available for the market. But the production of grain for the market is increasing at a disastrously slow rate. …
[T] he capitalist elements in the rural districts, and primarily the kulaks, had taken advantage of these difficulties, in order to disrupt the Soviet economic policy. …
What is the way out of the situation?
Some people see the way out of the situation in a return to kulak farming, in the development and extension of kulak farming. These people dare not advocate a return to landlord farming, for they realize, evidently, that such talk is dangerous in our times. … These people think that the Soviet power can simultaneously rely on two opposite classes—the class of the kulaks, whose economic principle is the exploitation of the working class, and the class of the workers, whose economic principle is the abolition of all exploitation. …
  1. The way out lies, firstly, in the transition from the small, backward, and scattered peasant farms to amalgamated, large-scale common farms, equipped with machinery, armed with scientific knowledge and capable of producing a maximum of grain for the market. The solution lies in the transition from individual peasant farming to collective, to common farming. …
  2. The way out lies, secondly, in expanding and strengthening the old slate farms, and in organizing and developing new, large state farms. …
  3. Finally, the way out lies in systematically increasing the yield of the small and middle individual peasant farms. We cannot and should not lend any support to the individual large kulak farms. But we can and should lend support to the individual small and middle-peasant farms, helping them to increase their crop yield and drawing them into the channel of cooperative organization.

Citation

Stalin, Joseph and Fry Collection of Italian History and Culture. Problems of Leninism. New York: International Publishers, 1934.

Source 6 – Harry Byers’ diary while in the USSR, 1930–1931 (14:35)

Title
Untitled diary
Date and location
1930–1931, USSR
Source type
Primary source – diary
Author
Harry Byers (1896–1975)
Description
Harry Byers was an American man who worked for the State Grain Trust of the USSR (now Russia and 11 other countries). He traveled to the USSR to teach Soviet workers how to operate large industrial machinery as part of the First Five-Year Plan. Harry Byers arrived in the USSR shortly after the plan began, and in this source he describes his observations of life in the USSR under this plan. He lived in multiple cities including Moscow, Grozny, and Ussuriysk, which was close to the Chinese border.
Key vocabulary
poods

Guiding question

How did different nations attempt to overcome economic crises after 1900?

Excerpt

March 30, 1930
every time we go out, the poor [beggars] are after Some money.
July 30, 1930
Market Prices [outrageous]. 60 ¢ for 1 tomato, 40.00 [poods of flour], 3.60 10 eggs, the Chinese run it. Cucumbers, 30 ¢
September 1, 1930
People are killing their children. because they have nothing, for them to eat. and no clothes.
September 16, 1930
[...] Chinese Market closing up. Looks bad, where will we eat? Oh I Wish We Were Home.
October 8, 1930
[...] got 1/4 lb of cheese. $1.85. We are Slowly Starving our stomachs got $30 worth of Cookies Last Spring. all gone.
November 14, 1930
How much Longer we can hold out no one knows. am ordered to go to another Village. I know we will Starve. Market Sells Sour Milk.
December 19, 1930
Old Man comes to house every day to tell us there is no food. collective farm here all men beat it across to China. all instructors Planning on escape.
June 3, 1931
train Killed Horse + spread him all over. People came. with Knives from Village.
June 13, 1931
any one who has a cow. must give up 1/2 Milk to … [gets] no money … or he [loses] cow. Must deliver milk.

Citation

“Harry Byers.” Digital Collection, University of Waterloo, Special Collections & Archives. https://uwaterloo.ca/library/special-collections-archives/exhibits/harry-byers

Source 7 – Statistical Yearbook of the League of Nations, 1930–1931 (17:20)

Title
Statistical Yearbook of the League of Nations
Date and location
1930–1931, Geneva, Switzerland
Source type
Primary source – yearbook
Author
Multiple authors
Description
This chart was taken from the Statistical Year-Book of the League of Nations from 1930 to 1931, which compiled facts and figures from around the globe. This particular chart shows the flow of imports and exports and how it changed throughout the 1920s.
Key vocabulary
omitted
bullion

specie
balance

Guiding question

How did different nations attempt to overcome economic crises after 1900?

Excerpt

Table of data showing imports and exports statistics.

Citation

League of Nations. 1931. “Statistical Year-Book of the League of Nations.” Statistical Yearbook of the League of Nations, Series of League of Nations publications II, no. 5 (1935): 5 volumes.

Source 8 – Report on food situation in Germany, 1917 (19:50)

Title
Report on food situation in Germany
Date and location
Germany, 1917
Source type
Primary source – diplomatic report
Author
Unknown
Description
The following are two charts with data about the food shortage in Germany during World War I. The first chart focuses on cities where riots over the food shortage occurred during the year 1916, near the end of the war. The second chart shows the number of deaths that occurred in Germany during the “blockade”. The British Blockade of Germany, sometimes called the Blockade of Germany, was a military offensive by the British navy in which they were able to cut off Germany and several other countries’ access to the supply of maritime goods, meaning goods delivered by sea.

Guiding question

How did different nations attempt to overcome economic crises after 1900?

Excerpt

Charts showing numbers of food riots by city in and number of deaths due to a blockades.

Citation

Vascik, George S. and Mark R. Sadler. The Stab-in-the-back Myth and the Fall of the Weimar Republic: A History in Documents and Visual Sources. London: Bloomsbury Academic, 2016.

Source 9 – German hyperinflation in photographs, 1919–1923 (23:05)

Title
Untitled photographs
Date and location
1919–1923, photographs
Source type
Primary source – photographs
Author
Multiple photographers
Description
These images from Germany give us some insight into the problems with the currency and economic inflation after the war. In 1914, four German Marks equaled about one US Dollar. By 1923, it was one trillion marks to the dollar.

Guiding question

How did different nations attempt to overcome economic crises after 1900?

Excerpt

Image of German currency, two billion mark.

“Two Billion Reichsmark banknote issued 5th November 1923. by Germany’s Central Bank. during the Hyper-inflation period.” (Photo by: Universal History Archive/Universal Images Group/Getty Images)

Children making crafts with banknotes, cutting and gluing.

“Devaluation of the Mark. Children playing with banknotes which have no more value, because of the inflation. Weimar Republic (Germany), circa 1919.” (Photo by Albert Harlingue/Roger Viollet/Getty Images)

Citation

Each image has its own citation.

Eman M. Elshaikh

Eman M. Elshaikh is a writer, researcher, and teacher who has taught K-12 and undergraduates in the United States and in the Middle East and written for many different audiences. She teaches writing at the University of Chicago, where she also completed her master’s in social sciences and is currently pursuing her PhD. She was previously a World History Fellow at Khan Academy, where she worked closely with the College Board to develop curriculum for AP World History.

Image credits

Creative Commons This work is licensed under CC BY 4.0 except for the following:

Cover: Women and children queue for rations handed out from a train carriage. © Hulton-Deutsch Collection/CORBIS/Corbis via Getty Images.