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OVERPRODUCTION 1920s = good times. Stockpiles = Layoffs
ECONOMIC DEPENDENCE ON EXPORTS Can. = raw resouces => prices dropped,
competition rose & we sufferred. (wheat & newsprint #1)
TARIFFS & U.S. PROTECTIONISM U.S = Canada’s #1 trade partner. When makets died tariffs rose.
DEBT FROM WW I U.S. called back loans => Fr. & Brt. relied on Germ
reparations => Germ. Couldn’t pay => protectionism grew =>
vicious cycle.
SPECULATION & THE STOCK MARKET CRASH Speculators in the 1920s were buying on ‘margin.’ Stock market crashed & loans couldn’t be paid.
FALLING OFF THE ECONOMIC EDGE Protectionism, loans, layoffs, the crash.
All result in people with no $ to buy goods.
DROUGHT ON THE PRAIRIES One crop farming, 8 yr. drought, winds / dust storms,
grasshoppers => abondoned farms.
UNEMPLOYMENT “Pogey / The Dole,” – like welfare, humiliating, evicted, vouchers, ‘Riding the Rails’ – shanty towns / jungles, hope????
DISADVANTAGED Urbanites received more $ than rural as assumed rural = animals. New Canadians – 1920s = immigration => 1930 = deported
Racism – Chinese = no relief , anti-semitism, aboriginals = less $. Women – fired or forced retirement, no relief.
Life for the wealthy could actually improve due to deflation.
(supply & demand)
THE WEALTHY
THE GOVERNMENT’S RESPONSE Unemployment Relief Act – $20 million for make work
projects. Tariffs , relief, soup kitchens, work camps (20 cents a day) Prairie Farm Rehabilitation Act – better irrigation. Red Scare – outlawed communism
THE ON-TO-OTTAWA-TREK In 1935, over 1000 men headed from B.C. to Ottawa. Stopped in Regina / Regina Riot.
TROUBLE IN VANCOUVER Sit –ins when relief camps closed.
THE NEW DEALSToo Little , Too Late????
ROOSEVELT’S NEW DEAL-U.S. president = public work programs- Social Security Act (pension, UI, Mom & child $.-U.S. spent billions to get economy rolling.- didn’t end depression but helped many
BENNETT’S NEW DEAL-Revised a fairer tax system.-Workers insurance (illness, injury, UI)- helped workers (hours, wages, conditions)- pensions-Created Can. Wheat Board – regulate wheat prices
Vancouver ‘Sit-ins’
ON-TO-OTTAWA-TREK
Liberal - King “I would not give a five cent
piece to a Conservative government”
Conservative - Bennett “ One of the greatest assets a
man can have on entering life’s struggles is poverty.”
‘Bennett Blanket’
‘Bennett Buggy’
‘Bennett Barnyard’Bennett’s One-man Show
King: The People Pleaser
CCF – The Co-operative Commonwealth Federation
-First Socialist party founded by the prairies in 1932.-Believed capitalism = inequality & greed. (caused depression)
-Regina Manifesto – public ownership, social programs,spend $ to help economy.
SOCIAL CREDIT PARTY
- A western party that believed capitalism = hoarding.- Gov’t should release this $ into the economy
=> SPEND!! (Gov’t = $25/mo./person for necessities)
- Prairie support as depression devastated the area.
J.S. WOODSWORTH
UNION NATIONALE
- Supported Quebec nationalism.- rural Catholic support.- blamed problems on English minority in Quebec.- believed in social insurance, work cond., farm credits
MAURICE DUPLESSIS
“BIBLE BILL” ABERHART
SOCIALISM:PROs & CONs
Total Income$ Spent Problem
Rowell-Sirois ReportCommission = Equalization Payments
‘Haves’ vs. ‘Have Nots’The Wealthy ‘hated’
By the time it was implemented the economy was changing.
Today?????
GERMANY Hated Treaty of Versailles
War Guilt Clause, $32 billion in reparations,printed $, inflation.
-The west tried to make payments easier.- Germany still could not meet payments.
ASIA Japan hit hard by tariffs. Keynesian economics – gov’t $ to help. Invade China for much needed resources.
RUSSIA 1917 = Bolshevik Revolution => U.S.S.R. Appeared to work during depression
=> people questioned capitalism. Stalin = dictator
policies = millions of deaths.
U.S. gave Germany money &later lowered payments butrecalled these loans when
depression hit.
TO DOp. 115 #1-4Key Terms
Introduction => 20s /OverviewSocially => ___________ ___________ __________Economically =>___________ ___________
_________Politically => ___________ ___________ __________Conclusion=> World / WW II
Introduction => Thesis Statement (3) __________________________________________
Socially => ___________ ___________ ____________________ ____________
Economically =>___________ ___________ _________ __________ ____________
Politically => ___________ ___________ __________ _________ __________ ___________
Conclusion=> One complete summary statement that ties in WW II. (3) ______________________