The Great Depression was a worldwide economic downfall starting in 1929 and ending in the late 1930s or early 1940s for different countries. It was the largest and most important economic depression in the 20th century, and is used in the 21st century as a lesson and example of how far the world's economy can fall. The Great Depression desecrated many economies, but one country arguably suffered more than any other was Canada. The Great Depression affected many countries in the world but Canada was one of the major countries that was hit the hardest by the downfall. The worldwide Great Depression of the 1930s was a social and economic trauma which of left millions of Canadians unemployed, hungry, and in which case left these people homeless …show more content…
Since Canada’s economy was so closely linked with the United States, that when the depression hit the United States Canada’s economy suffered as well. Canada was, and still is, a country dependent on trade. In the 1920s, products, such as wheat and lumber were important, and when the US president Herbert Hoover signed the Tariff Act, it raised the taxes on many imports to very high levels. This led to a drastic reduction of trade around the world, especially in Canada. It was estimated back in the thirties that 33% of Canada's Gross National Income came from exports. The four western prairies were very dependent on the export of certain crops, so the very low amount of money they brought in for their crops did not cover production costs, farm taxes, and interest on the debts that farmers were building up. The net farm income fell from $417 million in 1929 to $109 million in 1933. This was particularly very harmful to Canada, America’s largest trading partner, because the export prices drastically dropped for Canada due to no country being able to afford the products any …show more content…
A drought hit this area which caused the departure of farmers in the area. Starting in 1929 and continuing all the way until 1937 the rainfall was below average and the soil began to dry up and turn into dust. The drought and the insect invaded farms led to the departure of people and devastated them. By 1936 over 14,000 farms in the southern area of the prairies were given back to nature and were left abandoned. As the depression progressed, the Federal and Provincial governments financed land recovery projects which also worked on recovering and protecting the soil, developed water and irrigation systems, and promoted new types of farming more suitable for the
By diversifying the crops definitely would have helped the prairie with or without the war or government. However, it seemed that government incentives lead the way. I am not a farmer or from the prairies, but I believe that Ottawa should not have given the Canadian Wheat Board the monopoly of selling wheat internationally. Perhaps it did help out at the time, but taking away free capitalism to me is not good. At the time, the war did created new jobs, but you do not need war to create jobs, at least that is what I believe.
The severe economic conditions of the depression brought down and impacted numerous countries including Canada. When Bennett was running for prime minister he had no idea of the economic disasters that would be approaching and was unable to discover or utilize any effective methods to deal with them. During the 1930 election Robert campaigned to combat the aggressive measures of the great depression and when he was elected for the conservative party he immediately distributed $20 million toward helping the unemployed citizens of Canada. Unfortunately, the depression conveyed and produced many problems that no one was capable of adequately handling. Bennett attempted to strengthen Canadian trade by preferential tariffs, but unfortunately it
Canada was too effected by economic depression. Employment was becoming evermore difficult to obtain, resulting in the ever-decreasing wages of the people.
The Great Depression was a devastating global economic crisis that impacted countries all around the world, including Canada. The economic downturn had a profound effect on the Canadian economy, leading to widespread unemployment, poverty, and hardship for many Canadians. This essay will explore how the Great Depression affected Canada as a whole and how it impacted different groups of people within Canadian society. Additionally, the government's response to the crisis will be examined, analyzing whether their actions were effective or not in addressing the economic and social consequences of the Great Depression. Through analyzing various historical sources, this essay will argue that the Great Depression had a lasting impact on Canada and its people, highlighting the need for effective government action during times of crisis.
With the advancement of the economy and settlement due to the formation of the Hudson’s Bay Company to the tedious but substantial process of the creation of Canada’s identity known as the Canadian Confederation, these were just a few events that hugely impacted Canada. However, arguably one of the most influential events in Canada was their mandatory involvement in World War I. With over 600,000 Canadians in the midst of the war, no one could have predicted the disastrous and adverse outcome the four-year long war had on the nation. It was clear that World War I had tremendously impacted Canada politically, economically, and socially. With politics being one of the major catalysts to the start of WWI, there was no doubt that many stances
Sade Eubanks Josh McGehee/Lindsey Greear IB English 11 July 28, 2014 The Great Depression between Canada and Brazil The Great Depression was a time of grave economic conditions that followed after Black Tuesday on October 1929. The Great Depression's effects were felt worldwide. In the crisis, US stockholders began to frantically sell their stocks triggering a chain reaction from country to country. Canada and Brazil are two of the many countries that fell into the economic slump the Great Depression had brought.
The Great Depression and the Dust Bowl were devistating time for American citizens followed by another terrible time called the dust bowl. Both were devastating times for america. The great depression caused the dust bowl because farmers lost their money and property which cause many to move to urban america in search of work. The great depression had a huge impact on american citizens from 1929-1939.
Throughout history, the responsibilities of men have changed. Agriculture, for the most part, is and has been a male dominated profession. However, advances in technology have completely changed many of the tasks and responsibilities farming. The 1930’s was a difficult time for all people in the, but it was a devastating time for farmers.
The Great Depression was a severe worldwide economic depression that took place during the 1930s. The article by Edwin Gay and pictures compiled by Cary Nelson are both descriptions of how the Great Depression was and the several impacts that it had on the American economy. The range of the great depression is unprecedentedly wide according to Edwin Gay. The great depression was believed to have started from the collapse of the US stock market in 1929. This was shown in a picture as compiled by Cary Nelson
The economy of canada had been greatly affected by the great depression. In between
he Great Depression was a time of huge economic downfall. During this time period people lost their homes, money, and everything they had ever earned. Millions of people were affected, including the middle and lower classes, who would just become poorer. People in upper classes, even dropped to the lower class. This downfall began on October 29, 1929, and the leading cause was the crash of the stock market.
This had a huge factor in Canada’s changing economy because Canadian stock had dropped in value, causing people to go into debt because the stock they bought were not worth it in the long run. This had detrimental effects on the Prairie provinces, because wheat(a large Canadian export) prices had collapsed, and many farmers unable to make ends meet, forto move into towns and cities. This crash had caused many to become unemployed because companies and independent workers were unable to recover from the crash. It had also decreased the production and consumption of goods throughout Canada, which originally developed because of the large economic
The Great Depression was the worst economic downturn in the history of the world. It began in the United States when the stock market crashed in October 1929. Everybody was sent into a panic and millions of investors were wiped out. Unemployment levels began to rise after consumer spending and investment dropped, while stock prices continued to increase. Companies started to lay off their workers, and soon nearly thirteen to fifteen million people in America were without jobs.
The Great Depression The Great Depression was by far one of the worst times of America’s history, and the world’s history. The Depression affected everyone except for the politicians and the wealthy. During the depression a lot of people lost their jobs which caused the unemployment rate to sky rocket to 14% of America’s population was unemployed, and the number would stay their till World War 2, and the depression started in the 1920’s. Middle class workers were hit the hardest in the depression. Most of the middle class citizens lost their jobs.
The Great Depression was the worst economic downturn in the history, which lasted from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Spending began to drop, and it caused declines in employment and some companies began to lay off workers. By 1933, the Great Depression reached its lowest point and millions of Americans were unemployed. The 1920s consisted of dramatic social and political change.