Wednesday, 20 March 2013

The Canadian Depression

How did the Depression affect Canada’s sense of identity?

  The great depression deeply effected Canada's economy and Canadians. During the 1920's, many people joined the stock market hoping that we would be getting rich quickly. Investors bought stocks at low prices and sold them high. But then in 1929 U.S.A. and Canada went into poverty. The values of stocks fell dramatically, and the more stocks they sold, the lower the prices would be. In a few hours the market of stock exchanging dropped 50%! Millions of dollars was lost and the stock crash was staring to spread to Canada even more. In Canada during this depression, the recession was severe and prolonged, the sales were the lowest they have ever been, people who still had jobs wages were not a living salary, the prices dropped, the production was low, and Unemployment was at an all time high. During this time period "the dirty thirties", nearly 30 percent of Canadian workers had lost their jobs due to the stock market crash. Without money people were unable to pay for their mortgages, so they lost their homes. People also couldn't afford to feed themselves and their families, so they would find soup kitchens around the area they could eat. This shows that the Canadian identity is strong. They are strong because even through the rough times and the depression they got through it and found employment after the depression.                          

1 comment:

  1. I like how you comment that the Depression showed that Canadians were strong. What specifically did Canadians do during this time period to show that they were strong?