Interwar Years and WWII Flashcards

Flashcards reviewing key vocabulary and concepts from lecture notes on the Interwar Years, the Great Depression, and World War II.

Causes of the Great Depression:

• Overproduction

• Reliance on exporting staples

• Dependance on the US

• Crash of stock market

• Economic protection and tariffs

• International debt post ww1

Overproduction

Production outpaces demand, leading to unsold products stockpiling, slowed production, and increased unemployment.

Economic Protectionism

Protecting home industry from competition of foreign goods through tariffs.

Tariff

Duties collected on goods coming into a country (imports).

Buying on margin

Using borrowed money to invest in the stock market.

Speculation

Making intentionally short-term investments to capitalize on low prices and expected increases.

Insider Trading

Buying or selling stocks based on inside knowledge of future events.

Laissez-faire economics

An ideological position against government intervention in the economy.

Keynesian Economics

Economic theory advocating for government spending to create employment and stimulate the economy.

Deficit Financing

Governments borrow money and spend it on valuable employment projects, modernizing infrastructure

The Pogey

Government provided vouchers for essential goods and food during the Great Depression.

Progressive Taxation

The more you make, the more income tax you pay

On-to-Ottawa Trek

Protest where thousands of unemployed workers rode the rails to Ottawa to demand action from the government.

Regina Riot

Violent confrontation between trekkers and the RCMP in Regina, Saskatchewan.

Revenue

Money taken in by the government (taxes, customs, duties, etc.)

Expenditure

Any money spent by the government

Budget

All revenue is totaled & plan for the year’s spending is announced

Balanced Budget

A budget where revenue and expenditures are equal

Deficit

Budget showing more expenditure than revenue

Currency

Actual money used in a country

Chanak Crisis, 1922

King made it clear that Canada would not automatically send troops and would decide

Halibut Treaty, 1923

Canada and US treaty about the Halibut off the coast of BC and Alaska

Imperial Conference, 1926

It was made known that Canada was not a subordinate of GB

Winnipeg General Strike

Government Response: Banned parades & demonstrations. Troops with machine guns sent to Winnipeg

Bloody Saturday

In Winnipeg, a crowd gathered to witness protest parade

The Treaty of Versailles

Harsh punishment + big 3 had di erent interests

Nazi-Soviet pact

Hitler had long declared he would eradicate communism in the Soviet Union

Extreme Nationalism

Canada declares war one week later with nationwide support, on the promise from King that conscription would never be required

Totalitarianism

A dictatorship with total control.New technology allowed leaders could have far more direct and complete control over their people. A power structure rather than a political ideal

Blitzkreig Tactics

Airplane attacks to take out enemy positions, Tanks and infantry to follow immediately

Japanese Internment

After the attack on Pearl Harbour, Canadian government feared Japanese Canadians on the west coast might be operating as spies for the enemy