|The Great Depression|
|Date||October 29th, 1929|
The Great Depression was a financial crisis that the world was going through from 1929 to the mid 1930's.
On October 29th 1929, the U.S. stock market in New York known as "Wall Street" collapsed to a grinding halt, with billions lost. Meanwhile, Great Britain was still far from a recovery effort caused by the effects of World War I, which led to the depression. On the Island of Sodor, Sir Topham Hatt I wouldn't allow the board of directors to scrap the old steam engines, despite them being fully serviceable. He saved Lily and Neil, but the others were scrapped by the directors' orders. The NWR also had to close the Kirk Ronan Branch Line due to tourism drying up. This was mentioned in WildNorWester's Answer Time interview and in the thirty-seventh episode, Medivac.
The depression ended when World War II began, and the shift to total war opened up millions of jobs.
As Great Britain was going through the depression as well, there were four separate railway companies before the country nationalised its railways on January 1st, 1948. During the 1930s, the Great Western Railway was going through hard times, but it remained in fair financial health despite the Great Depression around Great Britain. A government act from 1929 allowed them to obtain money in return for simulating employment and improving towards both train stations and railway depots. They also shared bargains with road and motor services that were transferred to local bus companies, but instead took part in air services.
Both the LMS and the LNER were unaffected by the Great Depression. However, Edward's brothers (Furness Railway K2's) were withdrawn and scrapped from 1929-1931. The Southern Railway was also doing well financially, despite the conditions. Any available funds were devoted to electrification but the lack of funds had affected the building of standard motive power until World War II, where steam locomotive design for the Southern Railway resumed once again.