The Great Depression Of Canada - 1265 Words

The Great Depression in Canada The Great Depression may very well have been one of the most significant eras in Canadian history. It has taught us many lessons about the present and predicting the future. The ‘dirty’ thirties, as it was referred to, was a time of hardship and poverty for most. Imagine what it would be like if we had to endure the same magnitude of recession? You wouldn’t have your phone or your computer. Maybe you would be living with all of your relatives in one house? Or you would be growing your food in your backyard? Leading Up To The 30s: Canada during the 1920s was definitely, as the saying goes, roaring. Following the end of WW1, quality of life had drastically improved. The Canadian economy had ameliorated,†¦show more content†¦The Start of The Great Depression: Most say the onset of the Great Depression was spurred on by the stock market crash. Although economists don’t think that it was the only reason for Canada being in such a terrible state. In the 20s, people had, in their spending frenzy, bought large quantities of stock though credit, stock that they could not afford. People owed money to businesses and banks, and accumulated debts that they couldn’t pay off. In 1929, when it came time to pay, they didn’t have the money, and profits dropped drastically. The values of the stock became completely worthless. With no money and no jobs, people had to leave their homes either because they couldn’t pay for them, or they moved to search for a job. Life During The Great Depression: Life during the Great Depression was very different from life today. Many people were living on the streets in shanties, which were houses made of cardboard and scraps of wood. Milk and sugar were luxuries; you couldn’t buy them unless you were very wealthy. Often, men tried to sell apples in the street, just to make a few cents. Unemployment was a giant problem during the 30s. By 1933, Canada’s unemployment rate was at 30%. One in five Canadians were dependent on government relief to sustain their lives. The Prairie Provinces in Canada were said to be the worst hit in the world. They were almost completely dependent on the