The Great Depression In Canada In The 1930's

The Great Depression was a terrible point in Canadian history, and for most of the world. It was a point in time where thousands of people lost their jobs, and even lost their homes because of the depressed economy. Business was booming in the early 1920s, but when companies tried to expand, and therefore issued stocks, the economy was thrown off. Some investors sold their stocks for high prices, and as a result, everyone else followed. With less of a demand, stock prices became fractions of what they used to be, and on October 29, 1929, the New York Stock Exchange collapsed, followed by the Toronto and Montreal Stock exchanges. This collapse of the stock markets caused a depression like which the world had never seen before. It was

The Great Depression may very well have been one of the most significant eras in Canadian history. It has taught us many lessons about the present and predicting the future. The ‘dirty’ thirties, as it was referred to, was a time of hardship and poverty for most. Imagine what it would be like if we had to endure the same magnitude of recession? You wouldn’t have your phone or your computer. Maybe you would be living with all of your relatives in one house? Or you would be growing your food in your backyard?

The Great Depression was one of the worst collapses in the history of the Canadian economy. Canadians endured years of misery and in the same manner, suffered through all the ineffective solutions that took place. Despite Prime Minister Bennett's multiple advances to bring the economy back to pace, most of the solutions Bennett acted upon caused more harm than good to the economy. Bennett's first solution was enrolling in Protective Tariffs, which not only sent more residents out of work but also reduced Canada’s trade with other countries. Secondly, Bennett's involvement in putting up relief camps bought hatred, from unemployed men, towards Bennett and his government. Thirdly, Bennett's final attempt was the New Deal, which ultimately led

Firstly, When Richard Bennet came into power, he created what is known Relief Camps. They were in place so that problems of transients would no become a bigger problem. These men who worked were given food, shelter, army style clothing and .25₡ per day also these camps were built deep in the wilderness, away from towns and cities. This plan by Richard Bennett backfired because the relief camp workers rebelled which cause the On-to-Ottawa Trek and these camps gave no hope for a better future also showed that Bennett could not solve the problem of the transient. Secondly, During the Great Depression, there was increasing unemployment rates in every province some higher than the others because of how much they invested in the stock market. Due to rising unemployment levels, people from different communities started to leave their communities for a job elsewhere like other communities which created the issue of transients. Living in Canada even worse because they brought in fear and danger of being robbed because they do not have anything. Thirdly, Many people during this time were encouraged to “Buy now and Pay later” basically buying everything on credit and pay it later. Because of this, many families found themselves hopelessly in debt through buying on credit. With interest payments, many products ended up costing far more than what it was worth. Life in Canada difficult because many were in debt and

Imagine all of a sudden being out of a job and becoming bankrupt, and your country going into a depression. In 1929 until the late 1930's the Great Depression took place and many countries were affected by it, the Great Depression was an economic depression. The cause of the Great depression was the crash of the Stock Market in 1929. The Great Depression affected the US in a way that increased unemployment by 25% and increased the amount of homeless people. In this essay I will be analyzing the responses of President Franklin Roosevelt’s administration to the problems of the Great Depression. I will also be talking about how effective these responses were, and how they changed the role of the federal government. I believe that the responses to the Great Depression were very effective in bringing the country out of the Great Depression.

Canadian prosperity during the 1920s was based on weak foundations; industries started to overproduce and supply exceeded demand. Additionally, the stock markets were tangled in the same unstable practices as the United States; when the Wall Street Crash occurred, the effects spread over the border to Canada, which initially led to the Great Depression. Federal governments were hesitant to respond to the catastrophe caused by the Depression. There were boundless losses of jobs which completely changed the country by triggering the start of social welfare and causing a variation of political movements. Bennett proposed a New Deal in an attempt to solve the problems of the Depression but barely any of the measures taken had been passed. The

After World War I, the North American economy was booming, Canada had the world’s fastest growing economy. The start of the Depression came as a surprise to Canadians. When the stock market in the US, the biggest exported target for Canada’s primary resources after war, crashed, they reduced their demand for the products, people in Canada’s primary industries went bankrupt, unemployment rate raised from four point two percent to thirty percent, people could no more effort the luxurious lives, they did not buy much goods, which made other Canadian companies bankrupt, within a year millions of Canadians lost their

The Great Depression was a period in time where millions of Canadians had suffered from hunger, unemployment, homelessness and an economic downfall. The horror of the Great Depression took place in 1929-1939 and had lasted for a decade affecting millions of people worldwide. However, Canada had been impacted the most. The lasting horror of the Great Depression resulted in disastrous impacts on the economy. This was due to the Stock Market Crash, the construction of useless relief camps to open job opportunities for men, and the lack of raw materials which affected the lives of many farmers.

It had already been 7 years since the Great Depression hit Canada on October 29, 1929. The economic shock that it caused led to unemployment for many Canadians. And with the draught happening in the Prairies many people, mainly farmers, had suffered. The Great Depression had hit many countries worldwide, but not many had suffered severely as Canada did.

No country was prepared for the Great Depression. By 1933, thirty percent of the labour force was out of work. The total population of Canada was ten million and of that amount two million relied heavily on relief handouts. Incomes of families declined fifty percent. Thirty-thousand immigrants living in the country went back to their home country because of being sick or not gaining anything from being in Canada.² Those who stayed faced hostility with the competition for jobs.² Fifty years of urbanizing momentum had been reversed by the rapid increase of rural population compared to that of the urban

I think the most important cause of the Great Depression was Canada’s dependence on its primary products. Canada’s economy heavily relied on staples, products such as wheat, fish, minerals, pulp, and paper. These were Canada’s most significant imports because these were the goods that the world needed the most. The more countries that needed these products, the more Canada’s economy would flourish. However, the war caused a lot of countries to be in debt which meant that they didn’t have enough money to buy goods from Canadians. In turn, Canada’s economy collapsed and many people faced hardships in Canada, especially those in the Maritimes. The Depression caused the prices of Canada’s goods to drop drastically and farmers couldn’t make enough

The Great Depression impacted millions of people globally. Canada was not an exception. However the lessons we learnt from it helped us better manage the impact of the 2008 recession. Canada suffered during the great depression, due to a lack of effective leadership that underestimated the impact of the situation at hand. After world war one, Canada was the fastest growing economy in the world.

The first is that the economic conditions that we experience in present day are by no means comparable to that during the Great Depression. The majority of Canadians is able to survive without government assistance and is able to afford the basic necessities of life. Also, the Depression changed the role of the federal government. Prior to the Depression, the Federal government had a very limited role and next to nothing involving events and social programs. Those functions were largely left to state and local governments along with churches and charitable organizations. The creation of Social Security is one of the largest expansions to the Federal government in American history.

However, the stock market crash could not be to blame for the beginning of the Great Depression. In fact, "the crash actually revealed underlying problems that led to the Great Depression" (Schultz, 2006). Thus, the fact that farms had been struggling for years, overspending of the country forced people into debt, and the banking system itself was unstable. These prevalent issues at the time of economic struggle is what forced Canada into a Depression that they would never

This led to him losing the election in 1930 and getting R.B Bennett elected. During the year of 1935 King finally realized that the depression wasn’t just going to go over easily. He instated the policy of Freer Trade with the USA very quickly after being voted back into office in 1935. This policy fixed the barriers for the tariffs that were put into place by R.B Bennett during his time in office whilst the great depression had just gotten into motion. King also created the National Employment Commission which was created to fix the unemployment rates in Canada and to create new jobs for unemployed Canadians. Though ineffective it was a good idea because it led to the increased budget in 1938 from 20 Million to 25 Million dollars for relief from the depression. In addition to the increased budget the government also offered loans to municipalities which led to the National Housing Act which allowed the reconstruction of houses within Canada. Bennetts policies were referred to as Reform and Relief Policies. His first plan to solve the depression was to give $20 million towards relief for the winter of 1930. You may not think that this was a lot of money but during the time the budget for the government was $500