1931

1931 was a year marked by the continuing impact of the Great Depression on economies worldwide. Agricultural prices fell, unemployment rose, and financial instability persisted amid deflation and shrinking trade. Governments across continents pursued a mix of protectionism and public works programs as they sought to stabilize currencies and banking systems.

In Europe and the Atlantic, Britain abandoned the gold standard in September 1931, allowing the pound to devalue and easing some economic pressures. In Austria, the Creditanstalt's collapse in May triggered a banking crisis that underscored regional instability. In Asia, Japan launched a full invasion of Manchuria after the Mukden incident in September 1931, leading to the establishment of the puppet state Manchukuo and heightening tensions in the region.

Among political developments within the British Empire, the Statute of Westminster 1931 granted legislative independence to dominions such as Canada, Australia, New Zealand, and South Africa, marking a step toward sovereign status. In India, the Gandhi-Irwin Pact of March 1931, temporarily halted civil disobedience and opened negotiations between the Indian National Congress and the British authorities.

In culture and media, 1931 saw notable early talking pictures released, including Frankenstein and Dracula, which became landmark horror films of the era.

The year reflected a broader shift in international relations and economic policy as governments sought stability amid economic crisis and rising geopolitical tensions.