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Honduras during the Great Depression

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maggie daynes

on 20 March 2014

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Transcript of Honduras during the Great Depression

Impact on Society
Honduras during the Great Depression
maggie daynes
20 March 2014

The global Depression affected Honduras
After WWI and during the 1920s the Honduran economy became increasingly reliant on banana farming.
In 1935 Honduran banana crops were ravaged by epidemics of Panama disease and sigatoka.
Banana exportation, which accounted for over 80% of Honduras's exportation, peaked in 1930 and then fell rapidly.
Many workers from banana plantations as well as urban workers were laid off.
Fruit companies, like United Fruit, had to begin paying banana planters lower prices.
There was an increase in strikes and labor disturbances. There was also an increase in riots due to unemployment.
President Mejía Colindres had to borrow US$250,000 from fruit companies in order to pay his army during this time.
After the banana epidemics in 1935
Banana plantation workers saw further increases in unemployment due to the loss of banana plants.
Before Honduras's banana plantations could recover Honduras lost much of its fruit market to other Latin American countries.
(in comparison with other countries)
Honduras's economy stayed relatively stable during the Great Depression
There wasn't a large-scale political/military uprising like there had been in many other Latin American countries.
The Carías administration worked to avoid financial collapse, improve the military, and build roads
Carías gained the support of fruit companies by opposing strikes.
Economic Policies
Carías continued to pay off the national debt to Britain
He did this to gain respect in national and international financial circles.
In an attempt to preserve "internal order and peace", President Carías used force to limit opposition press and opposing political parties.
President Carías, who became president during the Great Depression, controlled Honduras as a dictator until 1948.
Ultimately, Carías's conservative economic policies can be attributed for bringing Honduras out of the Depression. Granted, the country wasn't impacted very heavily by the international economic distress. Rather, the banana industry was hurt. The economy simply followed normal economic cycles.
The government went from being a Democratic Constitutional Republic to a Dictatorship, but later returned to being a Democratic Constitutional Republic.
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