deflation

The graph below shows when each nation formally abandoned the gold standard, industrial production almost immediately recovered ostensibly because the money supply could expand more.  Unfortunately for France, they entered WWII shortly after they abandoned the gold standard.

Grasping Reality with Both Hands: "All of the five major economies of the world started out the Great Depression pursuing for the most part the orthodox gold-standard non-New Deal policies of the 1920s. All five of them had fierce political debates about whether to switch to a 'New Deal.' All eventually switched to their own version of the New Deal--Japan and Britain in 1931, Germany and the U.S. in 1933, and France not until 1937. Japan and Britain recovered fastest and most completely; Germany and the U.S. were in the middle; and France was the worst."