How a later Wall Street Crash could alter naval treaty politics

What changes if the 1929 Wall Street Crash occurs in 1930 instead?

The timing relative to the naval treaty matters: an earlier agreement could leave the broad outcome similar, while pre-crash confidence could encourage additional construction.

The effect of moving the crash to 1930 depends on its timing relative to the naval treaty. A treaty agreed before the crash is expected to leave the broad outcome much the same. Before an economic shock, navies and governments could believe that they had money for additional construction and commit to building.