The Great Depression in Canada

The Great Depression in Canada

Length: 885 words (2.5 double-spaced pages)

Rating: Excellent

Open Document

Essay Preview

More ↓
Canada suffered its longest and most terrible economic depression in its history between 1929 and 1939. It is now known as the Great Depression. This essay will demonstrate the major causes, political, economic and social consequences, and the government’s solutions from the Great Depression. The Great Depression affected all of Canada and is a key part of our history. It is important that we learn from it so we can prevent it from happening again.

There were many causes for the Great Depression. The first and one of the largest was the stock market crash. Before 1929 the stock market was flourishing and everyone wanted to buy stocks. People were so confident in the stock market that they were buying “on margin”, which meant that brokers would lend them 10% of the money they invested (D1). The problems began when stocks were being over speculated. When people began to realize this, they began selling there shares. On October 29, 1929, 16 million shares were sold (D9). This day became known as “Black Thursday”, the day the stock market crashed (D12). The second reason was the overproduction of goods. Factories had already produced too many goods and now there was no demand for them. The government began to raise tariffs to protect Canadian industries but things only led downhill from there.

There were two major political consequences of the Great Depression. The first was that new political parties were formed in Canada. The new political parties were the Co-operative Commonwealth Federation (CCF), the Social Credit Party, and the Union Nationale (UN). The CCF was founded by J.S. Woodsworth and believed in the establishment of minimum wage, accident and sickness insurance, old age pensions and unemployment insurance. The Social Credit Party was founded by William Aberhart. He believed that governments should issue money to everyone so that they could buy goods in a form of “social credits”. In the 1935 provincial elections he took 56 of 63 seats giving him a total victory. The UN was founded by Maurice Duplessis due to the union of Action Liberale Nationale and the Conservative Party. They promoted the traditional values of the Catholic Church and believed in a rural lifestyle. The second political consequence was a conflicted relationship between the federal and the provincial governments. The depression showed the federal government that provincial governments did not have enough money to carry out significant projects.

How to Cite this Page

MLA Citation:
"The Great Depression in Canada." 123HelpMe.com. 04 Apr 2020
    <https://www.123helpme.com/view.asp?id=151566>.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay about The Great Depression Of Canada

- In the 1920 's just after World War 1, Canada experienced economic prosperity but a decade later it would all come crashing down. This decade was known as the Great Depression. During the period of the Great Depression, Canada underwent two political regimes which still didn 't help the country get out of the Depression. What makes this more interestingly is that the two regimes were at the opposite ends of the Canadian political spectrum yet neither parties had a clear framework for lifting Canada out of the Depression....   [tags: Great Depression, Unemployment]

Research Papers
1909 words (5.5 pages)

The Great Depression : Canada Essay

- On the day of October 29, 1929 the Great Depression had begun. This was due to the worth of the New York stock market falling intensely. The Great Depression was a time when Canadians suffered extraordinary levels of poverty due to unemployment. It shaped Canadian’s political views, and also their views about their country and role of the government. Canadians joined together in various new political parties, labor groups and other organizations that represented detailed regional, economic or political interest....   [tags: Human rights, World War II, Canada, Rights]

Research Papers
1512 words (4.3 pages)

The Great Depression of Canada Essay

- 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....   [tags: Stock market crash, Black Tuesday]

Research Papers
1148 words (3.3 pages)

Canada and The Great Depression of the 1930's Essay

- 1929-1939- The Great Depression The depression years of 1929 - 1939 proved to be the worst, and some of the best years for Canada and Canadians. It was a time of extreme highs and lows socially, emotionally, and economically. It was a time that Canada came into her own being on the world wide stage. During the worst depression years in Canada, there were many people who tried tirelessly to get Canada out of the crisis she was in more quickly and efficiently. William Aberhart and his group of supporters had a plan that they were sure could help and even end the depression and its horrible effects....   [tags: Canadian History, canadian studies]

Research Papers
1384 words (4 pages)

Essay on The Great Depression in Canada

- ... Even still, he even went as far as saying that he would not give "a five-cent piece" to a Conservative provincial government. This quote was ultimately the reason why King lost power in the 1930 election to Richard Bennett and his Conservatives.i Prime minister Bennett also was not in favour of government intervention, but he did however create several acts to help Canadians through the Depression. The conservatives introduced the unemployment relief act, giving the provinces $20 million for work-creation programs....   [tags: collapse in the stock markets]

Research Papers
986 words (2.8 pages)

Employment, Relief and the Breadwinner Ideal: A Historiography of the Great Depression in Canada

- Hollingsworth and Tyyska discuss the employment of women in their article, both wage work and work performed outside of the “paid labour force.” (14). They also look at work discrimination of women based on gender and marital status. They argue that disapproval of married women working for wages during the Depression was expressed not only by those in position of power, such as politicians, but also by the general public and labour unions. They suggest that the number of women in the workforce increased as more young wives stayed working until the birth of their first child and older women entered the workforce in response to depression based deprivation....   [tags: Great Depression, Women, Jobs]

Research Papers
1416 words (4 pages)

The Great Depression in Canada Essay

- Canada suffered its longest and most terrible economic depression in its history between 1929 and 1939. It is now known as the Great Depression. This essay will demonstrate the major causes, political, economic and social consequences, and the government’s solutions from the Great Depression. The Great Depression affected all of Canada and is a key part of our history. It is important that we learn from it so we can prevent it from happening again. There were many causes for the Great Depression....   [tags: essays research papers]

Free Essays
885 words (2.5 pages)

The Great Depression of the 1930s in Canada Essay

- The Great Depression of the 1930s in Canada The Great Depression of the 1930's is a benchmark for all depressions and recessions in the past and in the future. In the booklet "The Great Depression of the 1930s in Canada" , Michiel Horn gives an intellectual dissection of the events that occurred during the Great Depression. Michiel Horn's approach leaves the reader with a foul taste for the Dirty Thirties. This essay will summarize Michiel Horns key points as well as discuss the ability of Michiel Horn to report his findings....   [tags: World History]

Research Papers
1319 words (3.8 pages)

The Decade Known as The Great Depression Essays

- The decade known as the Great Depression was an era filled with both hardship and tribulation. Historians continue to debate the root causes of the collapse of the stock market which led the country into depression. Other deride the ineptitude of the Canadian government’s response to the crisis. At any rate, the “Dirty Thirties” was a period of time unlike any other. While those who suffered through it are largely gone, the memory of those dark days remains to this day. Firstly, there are many factors that contributed to making the Great Depression start....   [tags: the Dirty Thirties in Canada]

Research Papers
827 words (2.4 pages)

The Collapse Of The Great Depression Essays

- In 1920’s, Canada faced the prosperity and post-war problems of World War I. However, due to the over-reliance on the United States, with the addition of the collapse of the stock market of national industrial issues, Canada was dragged into the Great Depression. At first, both Prime Ministers felt the government needed to take a step back and let the Depression balance itself out; however, as time went on, both men realized the federal government must step in to end the national crisis. King focused on the economic issues, and on the other hand, Bennett worked on human relief....   [tags: Great Depression, Unemployment]

Research Papers
1235 words (3.5 pages)

The federal government wanted to have total control over taxes and give grants to the provinces. The provincial governments were not pleased with this proposal and therefore rejected it in 1940.

Along with the political consequences there were also some major economic consequences. One of them was that Canada’s natural resource industries began to export less and less because of shrinking markets and an extreme drop in prices. Copper export value went from 30,405,000 in 1929 to 3,405,000 in 1932, that’s almost a 90% decrease. Newsprint export value went from 150,000,000 to 85,540,000 and Nickel went from 7,991,000 to 3,261,000. Another was that World Trade dropped around 33% from 1929 to 1933. This means that not only did the depression affect Canada but it also affected the rest of the world. The last economic consequence was the decline in exports to the United States. This happened for a few reasons but the main one was the tariffs that the government set up to protect the Canadian Industries. Since it was so expensive for the US to import Canadian products they stopped because it wasn’t worth it.

The depression also had major social consequences. The first was an enormous increase in unemployment. Since companies weren’t making as much money and there weren’t any large markets any more, companies either fired many of there employees or shut down completely. This meant that many people were unemployed and had no money, and this led to the second consequence. Since many people had no money they were unable to buy food, clothes, and even unable to pay their rent or mortgages. This caused many people to be evicted from there homes and forced them to rely on there relatives or friends. This in turn decreased their spending habits because they were forced to help their families. The entire cycle slowed down.

At the beginning of the depression the government under William Lyon Mackenzie King believe in a “Laissez-Faire” approach. This meant that they wanted no government involvement and that business would fix itself. When King is replaced with R.B. Bennett all of that changed. Bennett’s “New Deal” meant the implementation of unemployment and social insurance, the introduction of minimum wage, an eight hours work day and a 48 hours work week. Another solution the government had was to create soup kitchens and food vouchers. These made sure that everyone was fed. Next they created Public work projects. These were projects like building new roads, parks and playgrounds, and cleaning the streets. These gave people a job and money to support themselves and their families.

The great depression truly did affect everyone. It was the lowest point in Canada’s history and must therefore be remembered. Even though Canada made it through the political, economic and social consequences of the depression, it has still affected Canada today. We must remember why it happened so that we can prevent it from happening again.
Return to 123HelpMe.com