The Great Depression of Canada Essay

The Great Depression of Canada Essay

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The Great Depression was not just a little event in history, hence the word “great”, but a major economical setback that would change Canada, and the world, forever. The word “great” may not mean the same thing it does now; an example of this is the ‘Great’ War. These events were not ‘good’ or ‘accomplishing’ in any way, quite the opposite, but in those times it most likely meant ‘big’. What made it big are many factors, both in the 20’s and 30’s, which can be categorized into three main points: economics, politics and society. With all these events, compressed into ten years, this period of economic hardship of the 1930’s truly deserves the title the “Great Depression”.
What started these tragic ten years were really the events categorized under ‘economic factors’. The economy went into a downward spiral, first, with the Stock Market Crash of October 29, 1929, nicknamed “Black Tuesday” (PowerPoint). The cause of this was actually many factors all happening within a few months. Many companies went bankrupt from overproduction of goods and started stockpiling them. They assumed the economy will keep rising like it did during the “Roaring Twenties”; but when Europe started to mend from the destruction of the war, the demand for products went down. In addition, on October 29th, the value of the stocks became overpriced, and everyone wanted to sell while they were ahead. The sheer number of stocks on the market lowered their value so much, that the price afterwards was only a fraction of what it was before. However, it was not just the Stock Market Crash that overturned the economy, but the farmers also had trouble coping. In the early 1930’s, a massive drought swept through the prairies and the central US, killing off anything that...


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... and left the city of Regina in ruins. The workers went back in failure with none of them better off. All these events caused the society in Canada to suffer and make it into the history books as ‘great’.
In conclusion, every single event that took place during the Great Depression made it that much bigger and ‘great’; no matter if it was political, social, or economic. In economics, it was the Stock Market Crash and the drought that caused the Depression; in politics, it was the rivalry between Bennett and King; and in society, it was the unemployment rates and the Regina Riot. With all these factors the Great Depression really does deserve the original name it was given. From all these events, we can learn a lot about how to prevent such a big event from happening again like so many events do. The word ‘great’ really is perfect in describing the Great Depression.

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