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“Roaring Twenties” become “Dirty Thirties”: Canada and the Causes of the Great Depression also see: http://www PowerPoint Presentation
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“Roaring Twenties” become “Dirty Thirties”: Canada and the Causes of the Great Depression also see: http://www - PowerPoint PPT Presentation


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“Roaring Twenties” become “Dirty Thirties”: Canada and the Causes of the Great Depression also see: http://www.youtube.com/watch?v=bzGmkbAJcpc. The Trigger: The Stock Market Crash. The Trigger: The Stock Market Crash September 1929 – Prices begin to fall

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“Roaring Twenties” become “Dirty Thirties”: Canada and the Causes of the Great Depressionalso see: http://www.youtube.com/watch?v=bzGmkbAJcpc

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The Trigger: The Stock Market Crash

  • September 1929 – Prices begin to fall
  • Investors begin to lose confidence in the stock market and the companies they’d invested in
  • Tuesday, October 29, 1929  the stock market crashed as investors quickly sold their shares before they lost all their value
1 overproduction businesses were producing more goods than they could actually sell
1. Overproduction -- Businesses were producing more goods than they could actually sell.

The industrial capacity of both the U.S.A. and Canada had expanded beyond the ability of the consumer to consume

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During the 1920s, many industries were expanding, and profits were spent on adding to factories or building new ones

Huge supplies of manufactured goods were stockpiled because they could not be sold

2 canada was dependent on exports of natural resources staples
2. Canada was dependent on exports of natural resources/staples.

1920s: about 25% of the Canadian Gross National Product was derived from exports of staple products

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Wheat, fish, paper, minerals, coal, wood – shipped to Europe as it recovered from the war, and to the US

Overproduction!

As the economies of other countries started to decline, there was less demand for Canada’s raw materials

3 canada s economy was very dependent on that of the united states
3. Canada’s economy was very dependent on that of the United States.

1920s: 40% of Canadian exports were sold to the USA

A lot of US investment in Canada

So…what happened when the US economy failed?

4 protectionism
4. Protectionism

Increasing trend in the 1920s

Tariffs: money (“duties”) collected on goods coming in to a country

Meant to discourage imports and protect industries from foreign competition

US protectionism threatened Canada’s export market

5 canadians were going into debt
5. Canadians were going into debt.
  • Buying stocks “on the margin”
  • Buying consumer goods on credit
  • Farmers and businesses borrowing from banks to pay for equipment and labour
so when the economy began to fail
So when the economy began to fail…

Banks wanted repayment

Companies went bankrupt and laid off workers

Canadians couldn’t pay back their debts

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Canada and causes of great depression

  • crash course on the roaring 20s