4.3 Flashcards
Why the twenties “booming”? (7 things).
- fast growth in industry, manufacturing, and cities
- political movements arose out of the Ideale of Soviet Russia, socialist movements in France, and anti-war sentiments in general extended their influence into Union and farmers organizations
- immigration filled up empty space and kept the railways busy
- lumber and fisheries boomed
- automobiles
- broadcast radio
- credit was introduced (buy now pay later)
What was an illegal industry that would make many rich?
Prohibition in the US and smuggling alcohol across the border became a fortune which made many rich.
When did the stock market crash?
October 29, 1929
What were the causes of the depression (4 things)?
- high unemployment
- unused productive resour Es
- business failures on a large scale
- all major trading partners quite trading
How much did our foreign trade account for our national income?
1/3 (due to natural resources)
Where in Canada was hit the hardest during the depression?
The prairies
How many farmers left the prairies?
Nearly 250 000
When was prime minister Mackenzie King defeated and who was he replaced by?
1930 by W.B Bennett
What was the result of the depression?
The social and the political problems that were caused gave rise to new political movements where the people of Canada were looking for government to secure the well being of the citizens.
What is speculation in finance?
A financial action that does not promise safety of the initial investment along with the return on the principal sum.
What speculation typically involve?
The lending of money for the purchase of assets, equity, or debt.
What happened on Black Tuesday?
The average stock price dropped in values by 12% this caused panic stock selling. The Canadian Stock Exchange was losing $1 million in value every minute.
Who did the people turn to for relief?
The government ($1.5 million) but little was there, and soon the government were piling up record debts.
What were the unemployment rates in Canada: 1928- 1929- 1930- 1933- 1934- 1939-
- 6%
- 2%
- 9%
- 6%
- 6%
- 1%
What is isolationism?
In response to the depression, most governments chose to protect their own economies by resuming to trade with other countries. In hindsight, most experts believe this was a mistake and further caused economic collapse. It was also blinded the world to the actions of Hitler in Germany.
When was the riot in Estevan?
September 29, 1931
When had the miners in Estevan been on strike since?
September 7, 1931 to improve their wages and working conditions
Who was the riot in Estevan been organized by?
The Communist Party of trade union umbrella
How many were killed in the Estevan riot?
3
What was economic production primarily based on?
Agriculture, factory, and mine production