Economy

The Economy in the period of the Thai revolution of 1932 was very bad. It started in 1930 when there was the Wall Street Crash and the economic meltdown. During that time, the stock market was failing and it effected the world including Siam. Rice, tapioca, and corn, which are low cost items became very expensive in the market. People who had a lot of money can’t buy things because they became to expensive and over priced. King Rama the 7th (Phra Bat Somdet Phra Poramintharamaha Prajadhipok Phra Pok Klao Chao Yu Hua) saw the problems happening in the country so he wanted to solve it. King Prajadhipok started lowering the monthly wage of the people who work for the government, and started firing some of them only keeping half. Soldiers working during that period quit their jobs because the King lowered their budget. This caused them to work at new jobs that they aren’t specialized in. Other than that, the King told his family (the Royal Family) to be thrifty of the money they have. This caused gossips to happen in the country that the King fired people who are poor and didn’t fire the people who worked for him and who is close to him. People believed that the economy problems started because of Phra Bat Somdet Phra Poramentharamaha Vajiravudh Phra Mongkut Klao Chao Yu Hua, King Vajiravudh, or King Rama the 6th’s bad leadership when he was the sixth monarch of Siam under the House of Chakri, ruling from 1910 until 1925.