the great depression 10m

stock market crash overview

through 1920’s many invested in the stock market

some bought on margin (only 10% down, owed rest)

stock prices rose

stock prices began to fall near 1928-1929 so ppl panicked and sold stocks which deflated the value even more

october 29, 1929 (black tuesday) the stock exchange crashed (lost alot of their value)

investors lost millions, life savings wiped out in an instant as businesses and banks closed

countries stopped trading w each other which further hurt the economy

Canadian income fell by 50%, imports by 55%, and exports by 25%

of the 10 million Canadians, 2 million were living on relief handouts

27% were unemployed and sucide rates increased

what caused the great depression

too much buying on margin esp stocks

overproduction of goods (unsold products result in workers being laid off and this resulted in less purchasing and further reduction in jobs)

too dependant on selling natural resources

tariffs (import tax) from other countries raised in an effort to protect themselves

drop in prices of exports (like wheat prices falling bc of competition from other countries)

stock investors panicked and tries to sell stocks all at the same time which reduces the value

banks closed and ppl lost savings

natural disasters (the drought and insect plagues)

who was not affected and who was the most

• •Although wages dropped throughout the 1930s, prices also declined.  As a result, the standard of living increased for some.

  Farmers, young people, small business owners and the unemployed faced the most economic hardship

  

relief payments

• PM R.B. Bennett's response: Reluctant to admit a financial crisis, saw unemployment as a provincial/local responsibility.

• Relief payments: Provinces provided monthly payments for unemployed married men to support their families.

• Low payments: Set low to encourage work and avoid dependency ($19-$60).

• Form of payment: Mostly in vouchers, not cash, for essential items only.

• Nicknames: Called ‘the dole’ or ‘pogey.’

• Investigation: Applicants could be investigated to confirm their need.

relief camps

• Unemployment aid for single men: Local/provincial governments refused to help, so the federal government established work camps (1932-1936).

• Camp locations: Set in remote areas to keep men away from populated areas and prevent unrest.

• Voluntary but restrictive: Signing up was voluntary, but men could be arrested for ‘vagrancy’ if not enrolled.

• Conditions: Paid 20 cents a day, provided accommodation, 3 meals, and work clothes.

• Work requirements: Men worked 44 hours a week doing manual labor or construction.

• Resentment: Workers resented low pay, strict rules, poor living conditions, and lack of job opportunities.

• Strike: In 1935, many camps went on strike due to the poor conditions.

music and movies during these times

• Music: Songs reflected themes of hardship and hope, like "Brother, Can You Spare a Dime?" expressing struggles of unemployment and poverty.

• Movies: Films depicted the struggles of the working class (e.g., "The Grapes of Wrath"), while also providing escapism through comedies and musicals.

which province experience the highest drop in income

sakakawatan

why would the drop in income diff across the country

depends of type of availbiry of employment in a area, if a specific industry is suffering then provinces depending on that industry will suffer as well

year of highest employment

1933

what made the experience by the prairies of the depression different to the rest

they relied heavily on farming industries and farming , it was difficult to control bc a lot of its success was because of the environmental factors

CANADA’S RELIANCE ON A FEW PRIMARY PRODUCTS

(causes of the great depression)

• Staple exports: Canada’s economy relied on wheat, fish, minerals, and pulp and paper, which made up most exports.

• Decreased demand: Global Depression reduced demand for Canadian staples.

• Falling wheat prices: Increased competition lowered wheat prices on the world market.

• Economic impact: Railways and flour mills lost business due to reduced wheat production.

canada’s reliance on us (when us sneezed, canada got pneumonia )

•Canada depended heavily on the United States for its export and import of goods. 

The US was our largest trading partner and when they became affected by the Depression we also suffered.

high tariffs

When the economy started to suffer, many countries adopted protective tariffs (taxes) on foreign goods. 

This was done to protect local industries, encouraging people to buy products made in their own country. 

High tariffs choked off international trade, (made foreign goods more expensive and discouraged international trade. As a result, global economic activity slowed even further, deepening the economic problems, worsening the Great Depression.)

life for destitudes

This, at a time when there was no unemployment insurance or social welfare programs. 

The destitute had to rely on charity, soup kitchens and relief payments.   It was humiliating.

no one knew what to do

•There had been economic downturns before, some of them quite severe, but nothing like this. 

The marketplace was supposed to be self-correcting, but this time the downward spiral seemed unstoppable. 

No one knew what to do.

•The federal government tried to pass off responsibility to the provinces. 

The provinces passed it off to the municipalities.  And the municipalities passed it off to church groups and local charities.

union

organization of workers who come tg to achieve common goals

soildarity

unity or agreement of feeling or action

serfdom

lowest social class

haughty

arrogant, conceited, condenscending

toilded

worked extremely hard

what did it mean to by stocks or shares n a company

% of ownership, public companies sell shares to get disposable income

why do ppl sell shares in his company

wanted to expand factories, to expand on their product, to make more money

why did ppl buy shares?

if you owned shares in a company that was popular that makes a product, you would share money in the profit

why would someone buy stocks on margin

wanted to earn so much extra cash but couldn’t afford as money so she bought on margin to pay back later

how would stock brockers be willing to sell stocks on margin

it seemed like they would pay the money back bc she had a profitable business .

why was the cana, gov, afraid of a communist revolution.

what was Bennett solution to this threat?

t:f nazi reps were in canada during 1930’s

looked like candy was gonna form a similar revolution like russia in ww1

he set up work camps for unemployment single men, 20 cents per day and immigrants were deported

true , nazis were there

what happened to prarire provinces during 1930’s

droughts which caused sandstorms,

economic downturn,

product were not sold and had competition with ukrainian.

also the locus would eat the crops .

did the canned gov copy american gov’s new deal in mid 1930s and changed tactics in fighting the depression

why did men from work camps protest

did men from work camps board trains and travelled to ottawa to protest their treatment in work camps

king or…. (saying by william king)

benenet left canada after losing 1935 election?

no he liked it but never adopted it

crappy work and had military rules

no they boarded the trains but the RCMP stopped them in regina they started in bc, leaders went but the mobs didn’t. they had hopes tho

its king or chaous

he moved to england and never came back

vagrant = idle outside, homeless

what promise did the social credit make to those living in albert?

why wa the pm strange

what fear did carirnine wills ion have in the 1930s

what law did willian aberheart (leader of social credit) break

and why were they’re so many political parties in the 1930s

$25 per mont for every famiyl

he had a crystal ball, spoke to dead relatives, lived along w dog

she thought racism posed a threat to democracy like japan germany and span and italy posted a threat

he printed money

they wanted a change and they were desperate like (Ex. CCF, now NDP)

how did the premiere of quebec try to deal w depression

how did it change during the 1930s

quebec should be agricultural,

50,000 fled bc the government was cracking down on them