The most significant effect of the Depression, during the Interwar Period, was the high rates of unempolyment seen around the nation. Bankruptcies, factory closings and production cutbacks resulted in many Canadians losing their jobs or getting reduced wages. Unemployment reached a high of 27% during the climax of the Depression. Every trade in Canada saw neggative effects due to the Depression. The large drop in wage rates had a profound impact because it effected many aspects of Canadian life. Due to the reduced wages and unemployment many Canadians were not able to pay for their basic needs; therefore, people lost their homes and were not able to feed their families properly. However, not only were employees affected but so were bussiness owners. Corporate profits under went a severe decline, which was one of the reasons that so many Canadians lost their jobs. Many companies could simply not afford to pay as many workers as they could prior to the Depression, and the workers they did not lay off they had to reduce their wages. Many consequences of the war could be tied to unemployment. The shrinking markets of Canadian exports would result in more Canadians losing their jobs, and the Dust Bowl in the Prairies resulted in labourers working for farmers to become umemployed. Immigration rates also took a large hit due to the high unemployment rate, because government did not want more people looking for jobs in Canada. Furthermore, many people did not see a need to travel to Canada to look for jobs if there were not many to choose from. Therefore, due to the incredibly large amount of people effected by unemployment, it is the most significant consequence of the Depression.
The most significant effect of the Depression during the interwar period was all the unemployment seen around the country. Canadians lost their jobs or saw their wages drop, factories closed, bankruptcies and production cutbacks. The highest rate of unemployment went all the way up to 27%. All of Canada's resource based industries had a negative impact due to the shrinking markets and drastic drops in prices. The drop in wages and unemployment impacted Canadians hard. Most were unable to pay for their every day needs, resulting in lots of people loosing their homes and being unable to support families, not giving them proper meals. Business owners saw profits go down which is why many company's laid off thousands of people. The company's could not afford to pay that many workers. This helped reduce their wages. The shrinking markets for Canadian exports would result of many Canadians loosing their jobs. The natural disaster in the prairies had labourers working for farmers to become unemployed. Since the government did not want people looking for jobs in Canada the immigration rate went down due to the unemployment rate. Many immigrants did not see the point in coming to Canada especially is there is close to no jobs to look for. The amount of people unemployed and that were effected was the most significant consequence.
The most significant effect of the depression during the interwar period was the high unemployment rate around the country. Canadian citizens lost their jobs or saw their wages drop significant, factories closed, bankruptcies and production cutbacks. Unemployment rates rose all the way to 27% in some parts of the country. All of Canada's resource industries had had a large impact due to the shrinking markets domestically and internationally which cause a dramatic drop in prices. The unemployed had a huge impact as well because they could not afford their everyday needs, resulting in lots of people losing their homes and unable to support families, not giving proper meals. business owners saw profits go down which is why many company's laid off thousands of Canadian citizens. the company's could not afford to pay all the workers, so they had to reduce their wages. the shrinking market for Canadian exports would result in many people loosing their jobs . the natural disasters in the prairies had labourers working for farmers to become unemployed. since the government did not want citizens looking for jobs in Canada the immigration rate went down due to the unemployment rate. many immigrants sis not see the point in coming to Canada especially if there is close to no jobs to look for. The amount of people unemployed and that were effected was the most significant consequence.
The most significant consequence of the Great Depression was the Export of resources decrease. Canada’s resource-based industries were very hard hit by shrinking markets and decrease in prices. In the year of 1920’s to 1930’s, governments around the world experienced a big impact on their manufacturers and businesses. They put up high tariffs to protect them, but this action only created weaker demand, making the Depression worse. Over 5 years, Canadian exports shrank by 50% and had a big loss in their earnings. The regions and communities in Canada that were dependent on primary industries were affected greatest and they had to suffer. Commodity prices were plummeting around the world, which their farming, mining and logging systems had to be disturbed. The three Prairie provinces of Canada experienced the greatest decrease in their income between 1928 and 1933. These provinces were places where mining and logging were a mainstay and went through a collapse in their wheat economy. The country was also greatly affected by the collapse of world trade. The four western prairie provinces that were completely dependent on wheat were not able to earn money, which led them to be not able to cover up their production costs. Eventually their net farm income dropped and had a big influence on life of the farmers. Canadian economy had lost most of their primary sources, such as wheat, wood, and minerals due to the Great Depression. Overall, the country had no earnings at this point and the export of the resources could be seen as the most significant consequence of the Great Depression.
The most significant effect of the depression during the interwar period was all of the unemployment. Canadians saw their wages drop where some lost their job. The highest rate of unemployment was 27% in the height of the depression. Corporate profits went from $396 million in 1926 to losses of $98 million in 1933. Canadians were hit hard most were unable to support their families which resulted in most homes being vacated. Many immigrants did not see a point in coming to canada because their weren't many jobs to offer. The companies could not afford to pay all of their workers this helped reduce the wages. The markets for canadian exports was shrinking which resulted in many more canadians losing their jobs. The amount of unemployed people and that were affected by the great depression was the most significant.
The most significant effect that happened during the great depression the Interwar Period was the large number of unemployment seen throughout the world. Many events led to unemployment such as, work places had to file for bankruptcies, many factories closed, production cutbacks, and the loss of many crops and produce. The rate of unemployment reached a high of 27% during the depression. Many lost their houses, and jobs. Because of this effect many were left unemployed which meant that they wouldn’t have any money for food or other supplies. PM Bennett decided he would create a nationwide system of camps to house, and provide work for single, unemployed, homeless Canadian men. The camps were staffed with civilians under the department of National Defense. Residents of this camp volunteered to join the camp and were allowed to leave whenever they wanted to. In return for joining the camp the men were offered bunkhouses to sleep in, 3 meals a day, clothes that they could work in, medical care, and 20 cents a day. The men worked 44 hours a week building roads, planting trees, clearing bushes, and constructing public buildings. Critics were arguing that the government established the camps in lieu of reasonable programs of work and wages. When the men heard about this 1500 men from these camps decided they would strike and after 2 months of doing so they went onto Ottawa Trek. By the time the camps had been clothed it had been home to 170,248 men. In conclusion, the most significant effect that happened during the great depression, Interwar Period was the large number of unemployment.
Canada’s dependence on exports was the most significant effect of the Great Depression. With roughly 80% of Canada’s produce exported to foreign nations, the heart of Canada’s economy depended heavily on the export of primary sources. The Great Depression caused a major decline in exporting primary goods such as wheat, raw minerals, and lumber. With dropping prices of primary resources, the money earned by exporting supplies could no longer cover production costs. This resulted in many workers losing their jobs, as industries cut back workers to save on costs. In extreme cases whole production factories had to close down due to going bankrupt. The United States also introduces high cost tariffs for importing goods, and many other nations followed. Exporters found tariffs unattractive, thus Canadian exports shrank by 50% from 1929 to 1933. The effects of tariffs were not only seen in Canada, exports from other nations also declined, this became so devastating that it caused a collapse of world trade. Canada’s dependence on exports was the most significant effect, because all of Canada’s primary resource industries were affected, and many workers became unemployed. Canada’s dependence on exports had effects all around the world. Other nations could no longer purchase Canadian resources, and a collapse in world trade resulted from this.
The most significant consequence of the Great Depression was the decrease of resource exports. The Canadian economy was dependent on exporting primary resources and it was stimulated during World War 1. However when the war ended and the resources were no longer needed the economy crashed. The U.S was also Canada’s #1 trade partner and they imposed tariffs (taxes) on foreign goods to protect their domestic market, making foreign goods more expensive. The foreign sales declined so exports decreased in forestry, mining and agriculture. 80% of the products from farms, forests and mines were being exported but once they were no longer needed many people became unemployed, it also caused overproduction of goods (where more goods are being produced than sold) so companies laid off many people. Furthermore it caused less consumer goods to be purchased because nobody could afford them without a job, citizens could barely even afford to pay for their daily needs. This also caused less immigration to Canada because there would be nowhere for anybody to work if they immigrated to Canada. The vicious cycle of unemployment and starvation started because of the economy being dependent on exporting resources. Had this not been the case then unemployment would not have been as big an issue, or overproduction, or lack of immigration. In conclusion the lack of resource exports was the most significant consequence of the Great Depression as it snowballed many of the other consequences.
In my opinion, the most significant impact on the Canada’s depression after the war was; the resource-based industries were hit. Canadian economy was hugely dependent on export of primary sources such as wheat, wood, minerals, and etc. About 80% of productions of primary sources were exported to US, the largest trading partner of Canada. However, as US started to lay high tariffs on foreign goods to protect its own domestic market and the business, the prices of the foreign goods became more expensive. Followed by US, the governments around the world, including Canada’s, also put up high tariffs to protect their own goods. The impact was great; the introduction of high tariffs caused slowdown in the world trade, and Canadian exports decreased to 50% from 1929 to 1933. Canada suffered greatly including the regions and the communities that depended mostly on primary sources. Every single one related to primary sources collapsed and economy was highly hit. The net farm income fell from 417 million dollars in 1929 to 109 million dollars in 1933. Therefore, the most significant effect on the Canada’s depression was the collapse of resource-based industries.
During the Interwar Period the most significant effect of Depression was the cause of resources. At that time governments around the world, including Canada suffered greatly on primary industries such as farming, mining and logging. II made weaker demand and started to shift worse the Depression. In the year of 1920’s to 1930’s, the economy shrank exporting over 5 years. The production got higher price which were coming from other countries. U.S imposed tariffs on foreign goods to make foreign goods more expensive. Also Canada was greatly affected by the collapse of world trade. The production’s prices fell that they brought in for their resources did not cover the costs.
Unemployment: The most significant effect of the Depression, during the Interwar Period, was the high rates of unemployment seen around the nation. Bankruptcies, factory closings and production cutbacks caused many Canadians to lose their jobs or get reduced wages. During the Depression 27% of Canadians were unemployed who lead to many people becoming bankrupt. Due to the unemployment the corporate profits were losing profit. In 1929 the corporate went from $396 million to losing $98 million dollars in 1993. The unemployment effected the government because there was no profit being made but a lot of losses. Due to the fact that the government did not want people looking for jobs in Canada the immigration rate went down due to the unemployment rates. Due to the immigration rates going down many immigrants did not see the point in coming to Canada especially since there were no jobs to look for. The amount of many people being unemployed effected many significant consequence.
The most significant effect of the Depression, during the Interwar Period, was when the federal government accepted responsibility for social and economic well-being of Canadian people. The depression had helped expand the responsibility for the economy and for social welfare. Prime Minister Richard Bennett’s government created a legislation to establish the Bank of Canada to regulate the monetary policy in 1934 and the Bank of Canada is still used today. The federal government also introduced a national unemployment insurance and employment service to help Canadians who were unemployed. Canada still uses unemployment insurance and employment services now, along with welfare and other means of supporting Canadians. In 1938, the National Housing Act was passed and the construction of new houses, as well as repairs and modernization of existing houses and improvements to housing and living conditions. During the great depression the government had invested through deficit spending to create jobs. The attempts to manage the depression by the government showed flaws with the Canadian constitution and they went back to its creation in 1867. Therefore, the Federal government accepting the responsibility for social and economic well-being of Canadians was the most significant effect of the depression.
The most significant effect of the great depression was the wages and unemployment. Industries expanded but when the economy slowed, companies faced over production which meant more goods were being made than sold. Companies were forced to decrease production which lead to unemployment, unemployment reached 27% by 1933. The ones who still had jobs got paid less. Due to low wages and unemployment many people and families could not buy the basic needs for living. The great depression did not only affect workers but also industries such as mining, logging and the biggest probably farming. The wheat economy collapsed (Farming) the ones affected by this were prairie provinces because they completely depended on the export of wheat, money that they brought in for their wheat did not cover production costs, farm taxes and farmers were starting to build up debts. The farm income fell from $417 million in 1929 to $109 million in 1933. On top that the farmers also faced a drought in the 1930's which destroyed the grass and soil which made the ground useless for farming forcing them to leave their homes. Immigration rates dropped because the government did not want more people to look for jobs in Canada and their weren't many jobs to choose from as well. In conclusion Canada took a huge economic impact during the great depression.
The most significant effect of the Depression during the Interwar Period was the changed role of Federal Government. Initially, the legislation to establish the Bank of Canada was created by Bennett’s government to regulate monetary policy in 1934. Then in 1935, the Canadian Wheat Board was created to market and establish a minimum floor price for wheat. The Depression helped expand state responsibility for the economy and for social welfare. In 1940, the federal government assumed responsibility for the unemployed by introducing a national unemployment insurance scheme and employment service. John Maynard Keynes, who was the theories of British economist, indicated that if private investment failed to produce full employment, the state must initiate public investment through deficit spending to create jobs. It influenced the 1940 report of the Royal Commission on Dominion-Provincial Relations. The provinces had enormous expenditure responsibilities during the Depression because the provinces were given responsibility for health care, education, and welfare. The Commission recommended that the federal government take over control of unemployment insurance and pensions. It also recommended the creation of equalization payments and large transfers of money from the federal government to the provinces each year so that each province could offer equal levels of services. Some of the recommendations of the Commission were influential in future implementation, especially the idea of the Federal government providing equalization payments to the provinces. The impact was profound and everlasting. Therefore, due to the large effects on Canadians, the fact that Federal Government accepted responsibility for social and economic well-being of Canadian people had the most significant influence.
The most significant effect of the depression during the Interwar period was the unemployment through the nation. As the depression went on, many factories and businesses had to close their doors due to bankruptcies and production cutbacks, causing high unemployment and reduced wages. Unemployment had reached a high of 27% during the depression in 1933. All major labour jobs in Canada were receiving negative effects from the depression and every trade saw their rates of wages dropping. The unemployment was very hard for company owners, due to decline of corporate profits which had a big part in causing unemployment during the depression. They were also unable to afford and pay the amount of workers they were able to prior to the depression. Lastly the workers who still had their jobs had to be paid lower rates because of how unemployed the companies were. It was also difficult for the workers because some were evicted from their homes due to not being able to pay for rent and some were even unable to feed their families as they were not being paid enough. Unemployment brought many consequences making life hard for many Canadians during the Interwar period; therefore, it was the most significant effect during the depression.
The most significant effect of the great depression was the wages and unemployment, the impact of the unemployment is that all the major labour jobs in canada and every trade saw the rates of their jobs wages dropping so less people can afford to buy stuff like food, after the economic crash lots of farmers could not grow crops and family struggled to survive. and other compact it had was the cost of living so lots of the people could not afford to pay a mortgage for the house so during the great depression lots of house where for sale. it affected worldwide because 11 million of the population and 300 000 canadians that earned enough money to pay in the income taxes and married people earning more when single people earning more than $1000. the impact was unemployment reached up to 27% the corporate profits went from$396 million and losses of $98 million in 1933. the turning point of the great depression was when Prime Minister Mackenzie King to deal was the crisis because he said that the depression was only temporary and the economy will recover from it, the canadians turned to the federal government for the financial help for the depression.
The most significant effect of the Great Depression was the astonishing high rate of unemployment. In 1933 at the height of the depression, unemployment reached a high of 27%. Men and women across Canada suffered from unemployment, for they were unable to cloth themselves let alone feed their families. Many Governments around the world including Canada put up high tariffs which made trading and exports very expensive. Farmers, miners and loggers suffered the worst of this and their economy collapsed. Wages slowly dropped further and further and people couldn’t catch up with the escalating prices. Corporate profits in 1929 of $396 million dropped to an astounding $98 million in losses in 1933. Many citizens of Canada sent letter to the Prime Minister telling him about their dreadful and painful stories, but there wasn’t much he could do at this point. But, under the recommendation of Chief of General Staff McNaughton, the Prime Minister created Relief Camps throughout Canada for single, unemployed, homeless men. This camp gave men residence, meals, clothes, medical care a 20 cent work day. These men worked 44 hours a week, and for the work they were doing, regular workmen would be paid twice as much. This once brilliant idea backfired and created a huge strike and one of the worst riots in Canada.
The most significant effect of the depression during the interwar period, was the high rates in unemployment. Factories were closing down, people were going bankrupt, and there were many production cut off's which resulted in many Canadians losing their jobs, and not earning enough money. Every trade in Canada had gotten a negative effect caused on them because of this. When the wage rates dropped, it caused another negative effect on the Canadians ;therefor, the unemployment caused many Canadians to loose the money they needed to pay for their basic needs. (Many people were not able to properly feed their families, or provide for their home). Business owners were also effected by this. Many companies could not afford to pay for as many workers as they had before the depression, which in effect caused the business to lose customers, which caused them to lose money, which then resulted in closing down of the business. The immigration rates caused a huge impact, because of the unemployment. This was because the government did not want more people looking for jobs, when it was already hard to find a job with the number of people already there. Many people then chose not to travel to Canada if there were not any jobs readily available. In the end due to the large amount of people effected by this unemployment, it is the most significant consequence of the Depression.
The most significant effect of the great depression was the reduced wages and the high unemployment. Many people lost their jobs, and in some cases some work businesses went bankrupt. Unemployment reached 27% at the height of the Depression in 1933. Also, corporate profits went from $396 million in 1929 to corporate losses of $98 million in 1933. Immigrants did not bother coming to Canada anymore because there were not many job for them; therefore, they would not be able to afford anything and support their families. Many people also lost their house and could not afford food or shelter for their families, because of this people also could not find jobs. Later on, PM Bennett created camps for unemployed, single Canadian men. The men worked 44 hours a week and were provided 3 meals a day and clothing and they also got bunkhouses to sleep in. They also could work for medical care and got paid 20 cents a day. The great depression made a massive impact on Canada. In conclusion the most significant effect of the great depression was the reduced wages and the high unemployment.
The most significant effect of the Depression, during the Interwar Period, was the high rates of unempolyment seen around the nation. Bankruptcies, factory closings and production cutbacks resulted in many Canadians losing their jobs or getting reduced wages. Unemployment reached a high of 27% during the climax of the Depression. Every trade in Canada saw neggative effects due to the Depression. The large drop in wage rates had a profound impact because it effected many aspects of Canadian life. Due to the reduced wages and unemployment many Canadians were not able to pay for their basic needs; therefore, people lost their homes and were not able to feed their families properly. However, not only were employees affected but so were bussiness owners. Corporate profits under went a severe decline, which was one of the reasons that so many Canadians lost their jobs. Many companies could simply not afford to pay as many workers as they could prior to the Depression, and the workers they did not lay off they had to reduce their wages. Many consequences of the war could be tied to unemployment. The shrinking markets of Canadian exports would result in more Canadians losing their jobs, and the Dust Bowl in the Prairies resulted in labourers working for farmers to become umemployed. Immigration rates also took a large hit due to the high unemployment rate, because government did not want more people looking for jobs in Canada. Furthermore, many people did not see a need to travel to Canada to look for jobs if there were not many to choose from. Therefore, due to the incredibly large amount of people effected by unemployment, it is the most significant consequence of the Depression.
ReplyDeleteThe most significant effect of the Depression during the interwar period was all the unemployment seen around the country. Canadians lost their jobs or saw their wages drop, factories closed, bankruptcies and production cutbacks. The highest rate of unemployment went all the way up to 27%. All of Canada's resource based industries had a negative impact due to the shrinking markets and drastic drops in prices. The drop in wages and unemployment impacted Canadians hard. Most were unable to pay for their every day needs, resulting in lots of people loosing their homes and being unable to support families, not giving them proper meals. Business owners saw profits go down which is why many company's laid off thousands of people. The company's could not afford to pay that many workers. This helped reduce their wages. The shrinking markets for Canadian exports would result of many Canadians loosing their jobs. The natural disaster in the prairies had labourers working for farmers to become unemployed. Since the government did not want people looking for jobs in Canada the immigration rate went down due to the unemployment rate. Many immigrants did not see the point in coming to Canada especially is there is close to no jobs to look for. The amount of people unemployed and that were effected was the most significant consequence.
ReplyDeleteThe most significant effect of the depression during the interwar period was the high unemployment rate around the country. Canadian citizens lost their jobs or saw their wages drop significant, factories closed, bankruptcies and production cutbacks. Unemployment rates rose all the way to 27% in some parts of the country. All of Canada's resource industries had had a large impact due to the shrinking markets domestically and internationally which cause a dramatic drop in prices. The unemployed had a huge impact as well because they could not afford their everyday needs, resulting in lots of people losing their homes and unable to support families, not giving proper meals. business owners saw profits go down which is why many company's laid off thousands of Canadian citizens. the company's could not afford to pay all the workers, so they had to reduce their wages. the shrinking market for Canadian exports would result in many people loosing their jobs . the natural disasters in the prairies had labourers working for farmers to become unemployed. since the government did not want citizens looking for jobs in Canada the immigration rate went down due to the unemployment rate. many immigrants sis not see the point in coming to Canada especially if there is close to no jobs to look for. The amount of people unemployed and that were effected was the most significant consequence.
ReplyDeleteMitchell Davies
Great response Mitch!
DeleteWhy thank you kind sir I really like your response as well!
DeleteThe most significant consequence of the Great Depression was the Export of resources decrease. Canada’s resource-based industries were very hard hit by shrinking markets and decrease in prices. In the year of 1920’s to 1930’s, governments around the world experienced a big impact on their manufacturers and businesses. They put up high tariffs to protect them, but this action only created weaker demand, making the Depression worse. Over 5 years, Canadian exports shrank by 50% and had a big loss in their earnings. The regions and communities in Canada that were dependent on primary industries were affected greatest and they had to suffer. Commodity prices were plummeting around the world, which their farming, mining and logging systems had to be disturbed. The three Prairie provinces of Canada experienced the greatest decrease in their income between 1928 and 1933. These provinces were places where mining and logging were a mainstay and went through a collapse in their wheat economy. The country was also greatly affected by the collapse of world trade. The four western prairie provinces that were completely dependent on wheat were not able to earn money, which led them to be not able to cover up their production costs. Eventually their net farm income dropped and had a big influence on life of the farmers. Canadian economy had lost most of their primary sources, such as wheat, wood, and minerals due to the Great Depression. Overall, the country had no earnings at this point and the export of the resources could be seen as the most significant consequence of the Great Depression.
ReplyDeleteThe most significant effect of the depression during the interwar period was all of the unemployment. Canadians saw their wages drop where some lost their job. The highest rate of unemployment was 27% in the height of the depression. Corporate profits went from $396 million in 1926 to losses of $98 million in 1933. Canadians were hit hard most were unable to support their families which resulted in most homes being vacated. Many immigrants did not see a point in coming to canada because their weren't many jobs to offer. The companies could not afford to pay all of their workers this helped reduce the wages. The markets for canadian exports was shrinking which resulted in many more canadians losing their jobs. The amount of unemployed people and that were affected by the great depression was the most significant.
ReplyDeleteLucas Gill
The most significant effect that happened during the great depression the Interwar Period was the large number of unemployment seen throughout the world. Many events led to unemployment such as, work places had to file for bankruptcies, many factories closed, production cutbacks, and the loss of many crops and produce. The rate of unemployment reached a high of 27% during the depression. Many lost their houses, and jobs. Because of this effect many were left unemployed which meant that they wouldn’t have any money for food or other supplies. PM Bennett decided he would create a nationwide system of camps to house, and provide work for single, unemployed, homeless Canadian men. The camps were staffed with civilians under the department of National Defense. Residents of this camp volunteered to join the camp and were allowed to leave whenever they wanted to. In return for joining the camp the men were offered bunkhouses to sleep in, 3 meals a day, clothes that they could work in, medical care, and 20 cents a day. The men worked 44 hours a week building roads, planting trees, clearing bushes, and constructing public buildings. Critics were arguing that the government established the camps in lieu of reasonable programs of work and wages. When the men heard about this 1500 men from these camps decided they would strike and after 2 months of doing so they went onto Ottawa Trek. By the time the camps had been clothed it had been home to 170,248 men. In conclusion, the most significant effect that happened during the great depression, Interwar Period was the large number of unemployment.
ReplyDeleteKaitlyn Raposo
Canada’s dependence on exports was the most significant effect of the Great Depression. With roughly 80% of Canada’s produce exported to foreign nations, the heart of Canada’s economy depended heavily on the export of primary sources. The Great Depression caused a major decline in exporting primary goods such as wheat, raw minerals, and lumber. With dropping prices of primary resources, the money earned by exporting supplies could no longer cover production costs. This resulted in many workers losing their jobs, as industries cut back workers to save on costs. In extreme cases whole production factories had to close down due to going bankrupt. The United States also introduces high cost tariffs for importing goods, and many other nations followed. Exporters found tariffs unattractive, thus Canadian exports shrank by 50% from 1929 to 1933. The effects of tariffs were not only seen in Canada, exports from other nations also declined, this became so devastating that it caused a collapse of world trade. Canada’s dependence on exports was the most significant effect, because all of Canada’s primary resource industries were affected, and many workers became unemployed. Canada’s dependence on exports had effects all around the world. Other nations could no longer purchase Canadian resources, and a collapse in world trade resulted from this.
ReplyDeleteMatthew Ng
The most significant consequence of the Great Depression was the decrease of resource exports. The Canadian economy was dependent on exporting primary resources and it was stimulated during World War 1. However when the war ended and the resources were no longer needed the economy crashed. The U.S was also Canada’s #1 trade partner and they imposed tariffs (taxes) on foreign goods to protect their domestic market, making foreign goods more expensive. The foreign sales declined so exports decreased in forestry, mining and agriculture. 80% of the products from farms, forests and mines were being exported but once they were no longer needed many people became unemployed, it also caused overproduction of goods (where more goods are being produced than sold) so companies laid off many people. Furthermore it caused less consumer goods to be purchased because nobody could afford them without a job, citizens could barely even afford to pay for their daily needs. This also caused less immigration to Canada because there would be nowhere for anybody to work if they immigrated to Canada. The vicious cycle of unemployment and starvation started because of the economy being dependent on exporting resources. Had this not been the case then unemployment would not have been as big an issue, or overproduction, or lack of immigration. In conclusion the lack of resource exports was the most significant consequence of the Great Depression as it snowballed many of the other consequences.
ReplyDeleteIn my opinion, the most significant impact on the Canada’s depression after the war was; the resource-based industries were hit. Canadian economy was hugely dependent on export of primary sources such as wheat, wood, minerals, and etc. About 80% of productions of primary sources were exported to US, the largest trading partner of Canada. However, as US started to lay high tariffs on foreign goods to protect its own domestic market and the business, the prices of the foreign goods became more expensive. Followed by US, the governments around the world, including Canada’s, also put up high tariffs to protect their own goods. The impact was great; the introduction of high tariffs caused slowdown in the world trade, and Canadian exports decreased to 50% from 1929 to 1933. Canada suffered greatly including the regions and the communities that depended mostly on primary sources. Every single one related to primary sources collapsed and economy was highly hit. The net farm income fell from 417 million dollars in 1929 to 109 million dollars in 1933. Therefore, the most significant effect on the Canada’s depression was the collapse of resource-based industries.
ReplyDeleteYoungran Oh
During the Interwar Period the most significant effect of Depression was the cause of resources. At that time governments around the world, including Canada suffered greatly on primary industries such as farming, mining and logging. II made weaker demand and started to shift worse the Depression. In the year of 1920’s to 1930’s, the economy shrank exporting over 5 years. The production got higher price which were coming from other countries. U.S imposed tariffs on foreign goods to make foreign goods more expensive. Also Canada was greatly affected by the collapse of world trade. The production’s prices fell that they brought in for their resources did not cover the costs.
ReplyDeleteRenee Kang
Unemployment:
ReplyDeleteThe most significant effect of the Depression, during the Interwar Period, was the high rates of unemployment seen around the nation. Bankruptcies, factory closings and production cutbacks caused many Canadians to lose their jobs or get reduced wages. During the Depression 27% of Canadians were unemployed who lead to many people becoming bankrupt. Due to the unemployment the corporate profits were losing profit. In 1929 the corporate went from $396 million to losing $98 million dollars in 1993. The unemployment effected the government because there was no profit being made but a lot of losses. Due to the fact that the government did not want people looking for jobs in Canada the immigration rate went down due to the unemployment rates. Due to the immigration rates going down many immigrants did not see the point in coming to Canada especially since there were no jobs to look for. The amount of many people being unemployed effected many significant consequence.
The most significant effect of the Depression, during the Interwar Period, was when the federal government accepted responsibility for social and economic well-being of Canadian people. The depression had helped expand the responsibility for the economy and for social welfare. Prime Minister Richard Bennett’s government created a legislation to establish the Bank of Canada to regulate the monetary policy in 1934 and the Bank of Canada is still used today. The federal government also introduced a national unemployment insurance and employment service to help Canadians who were unemployed. Canada still uses unemployment insurance and employment services now, along with welfare and other means of supporting Canadians. In 1938, the National Housing Act was passed and the construction of new houses, as well as repairs and modernization of existing houses and improvements to housing and living conditions. During the great depression the government had invested through deficit spending to create jobs. The attempts to manage the depression by the government showed flaws with the Canadian constitution and they went back to its creation in 1867. Therefore, the Federal government accepting the responsibility for social and economic well-being of Canadians was the most significant effect of the depression.
ReplyDeleteChayleen Peters
The most significant effect of the great depression was the wages and unemployment. Industries expanded but when the economy slowed, companies faced over production which meant more goods were being made than sold. Companies were forced to decrease production which lead to unemployment, unemployment reached 27% by 1933. The ones who still had jobs got paid less. Due to low wages and unemployment many people and families could not buy the basic needs for living. The great depression did not only affect workers but also industries such as mining, logging and the biggest probably farming. The wheat economy collapsed (Farming) the ones affected by this were prairie provinces because they completely depended on the export of wheat, money that they brought in for their wheat did not cover production costs, farm taxes and farmers were starting to build up debts. The farm income fell from $417 million in 1929 to $109 million in 1933. On top that the farmers also faced a drought in the 1930's which destroyed the grass and soil which made the ground useless for farming forcing them to leave their homes. Immigration rates dropped because the government did not want more people to look for jobs in Canada and their weren't many jobs to choose from as well. In conclusion Canada took a huge economic impact during the great depression.
ReplyDeleteThe most significant effect of the Depression during the Interwar Period was the changed role of Federal Government. Initially, the legislation to establish the Bank of Canada was created by Bennett’s government to regulate monetary policy in 1934. Then in 1935, the Canadian Wheat Board was created to market and establish a minimum floor price for wheat. The Depression helped expand state responsibility for the economy and for social welfare. In 1940, the federal government assumed responsibility for the unemployed by introducing a national unemployment insurance scheme and employment service. John Maynard Keynes, who was the theories of British economist, indicated that if private investment failed to produce full employment, the state must initiate public investment through deficit spending to create jobs. It influenced the 1940 report of the Royal Commission on Dominion-Provincial Relations. The provinces had enormous expenditure responsibilities during the Depression because the provinces were given responsibility for health care, education, and welfare. The Commission recommended that the federal government take over control of unemployment insurance and pensions. It also recommended the creation of equalization payments and large transfers of money from the federal government to the provinces each year so that each province could offer equal levels of services. Some of the recommendations of the Commission were influential in future implementation, especially the idea of the Federal government providing equalization payments to the provinces. The impact was profound and everlasting. Therefore, due to the large effects on Canadians, the fact that Federal Government accepted responsibility for social and economic well-being of Canadian people had the most significant influence.
ReplyDeleteGary Zou
The most significant effect of the depression during the Interwar period was the unemployment through the nation. As the depression went on, many factories and businesses had to close their doors due to bankruptcies and production cutbacks, causing high unemployment and reduced wages. Unemployment had reached a high of 27% during the depression in 1933. All major labour jobs in Canada were receiving negative effects from the depression and every trade saw their rates of wages dropping. The unemployment was very hard for company owners, due to decline of corporate profits which had a big part in causing unemployment during the depression. They were also unable to afford and pay the amount of workers they were able to prior to the depression. Lastly the workers who still had their jobs had to be paid lower rates because of how unemployed the companies were. It was also difficult for the workers because some were evicted from their homes due to not being able to pay for rent and some were even unable to feed their families as they were not being paid enough. Unemployment brought many consequences making life hard for many Canadians during the Interwar period; therefore, it was the most significant effect during the depression.
ReplyDeleteMegan Purdy
The most significant effect of the great depression was the wages and unemployment, the impact of the unemployment is that all the major labour jobs in canada and every trade saw the rates of their jobs wages dropping so less people can afford to buy stuff like food, after the economic crash lots of farmers could not grow crops and family struggled to survive. and other compact it had was the cost of living so lots of the people could not afford to pay a mortgage for the house so during the great depression lots of house where for sale. it affected worldwide because 11 million of the population and 300 000 canadians that earned enough money to pay in the income taxes and married people earning more when single people earning more than $1000.
ReplyDeletethe impact was unemployment reached up to 27% the corporate profits went from$396 million and losses of $98 million in 1933. the turning point of the great depression was when Prime Minister Mackenzie King to deal was the crisis because he said that the depression was only temporary and the economy will recover from it, the canadians turned to the federal government for the financial help for the depression.
Nicole Poson
The most significant effect of the Great Depression was the astonishing high rate of unemployment. In 1933 at the height of the depression, unemployment reached a high of 27%. Men and women across Canada suffered from unemployment, for they were unable to cloth themselves let alone feed their families. Many Governments around the world including Canada put up high tariffs which made trading and exports very expensive. Farmers, miners and loggers suffered the worst of this and their economy collapsed. Wages slowly dropped further and further and people couldn’t catch up with the escalating prices. Corporate profits in 1929 of $396 million dropped to an astounding $98 million in losses in 1933. Many citizens of Canada sent letter to the Prime Minister telling him about their dreadful and painful stories, but there wasn’t much he could do at this point. But, under the recommendation of Chief of General Staff McNaughton, the Prime Minister created Relief Camps throughout Canada for single, unemployed, homeless men. This camp gave men residence, meals, clothes, medical care a 20 cent work day. These men worked 44 hours a week, and for the work they were doing, regular workmen would be paid twice as much. This once brilliant idea backfired and created a huge strike and one of the worst riots in Canada.
ReplyDeleteAlly Quayle
The most significant effect of the depression during the interwar period, was the high rates in unemployment. Factories were closing down, people were going bankrupt, and there were many production cut off's which resulted in many Canadians losing their jobs, and not earning enough money. Every trade in Canada had gotten a negative effect caused on them because of this. When the wage rates dropped, it caused another negative effect on the Canadians ;therefor, the unemployment caused many Canadians to loose the money they needed to pay for their basic needs. (Many people were not able to properly feed their families, or provide for their home). Business owners were also effected by this. Many companies could not afford to pay for as many workers as they had before the depression, which in effect caused the business to lose customers, which caused them to lose money, which then resulted in closing down of the business. The immigration rates caused a huge impact, because of the unemployment. This was because the government did not want more people looking for jobs, when it was already hard to find a job with the number of people already there. Many people then chose not to travel to Canada if there were not any jobs readily available. In the end due to the large amount of people effected by this unemployment, it is the most significant consequence of the Depression.
ReplyDeleteMaddie Lees
The most significant effect of the great depression was the reduced wages and the high unemployment. Many people lost their jobs, and in some cases some work businesses went bankrupt. Unemployment reached 27% at the height of the Depression in 1933. Also, corporate profits went from $396 million in 1929 to corporate losses of $98 million in 1933. Immigrants did not bother coming to Canada anymore because there were not many job for them; therefore, they would not be able to afford anything and support their families. Many people also lost their house and could not afford food or shelter for their families, because of this people also could not find jobs. Later on, PM Bennett created camps for unemployed, single Canadian men. The men worked 44 hours a week and were provided 3 meals a day and clothing and they also got bunkhouses to sleep in. They also could work for medical care and got paid 20 cents a day. The great depression made a massive impact on Canada. In conclusion the most significant effect of the great depression was the reduced wages and the high unemployment.
ReplyDeleteFanoula Petrou