Great depression Flashcards
What was the Chanak crisis?
- Chanak was a port in Turkey controlled by Britain due to one of the treaties signed at the Paris Peace conference
- Britain asked for Canada’s support and help with this issue and King said no
- Was the first time Canada didn’t automatically come forward and help Britain
What was the halibut treaty?
- A treaty to protect the halibut on the BC coast
- First treaty Canada signed independently without Britain
- Mackenzie King said that if Britain interfered with the treaty, he would put a Canadian representative in Washington
What was the King-Byng crisis?
- Mackenzie King declared it was undemocratic that the governor-general who at that time was British, could not agree with the prime minister
- From this point on no governor-general has gone against the wishes of the prime minister
What was the Lord Balfour Report?
- The dominions of Britain wanted formal recognition of their autonomy
- A special committee under the leadership of Lord Balfour examined the request
- The committee’s findings were published as the Balfour report and supported the dominions position
What was the Statue of Westminster?
- Balfour report became law in 1931 when the statue of Westminster was passed by british gov’t
- Turned British empire into the British commonwealth
- Canada’s constitution, BNA act stayed in Britain as the federal and provincial government couldn’t decide on an amending formula
- Committee of privy also stayed in Britain until 1949
What is the difference between recession and depression?
Recession = shorter economic downturn (usually months) Depression = a long and dramatic economic downturn (usually years)
What was the person’s case?
Women had to fight for their political rights throughout the 20’s
They wanted to be considered “persons” so they could run for senate (Upper House)
The Alberta Supreme Court ruled that they were persons, Canada said no
The issue was brought to England, and Lord Chancellor John Sankey, who ruled that the “persons” referred to in the BNA did indeed include women on October 18, 1929
Additionally:
Women weren’t previously considered people unless they committed a crime
They had few rights and divorce was rare
The salary of women belonged to her spouse
There was only a few jobs women could work as before WWI
They weren’t allowed to vote until the Wartime Elections Act
Women had trouble getting government positions
Agnes Macphail was the first female Member of Parliament in the lower house
Women were still not allowed in the upper house until 1929 (the supreme court shut the door on women)
What is communism?
State ownership Introduced by Karl Marx No private ownership Less government The class system goes away dictatorship/totalitarianism Far-left on the political spectrum Russia leaves the war due to this in 1917 (Italy replaces them in the Triple Entente
What is Facism?
Private ownership First introduced by Benito Mussolini in Italy Capitalism Dictatorship/Totalitarianism Free market but with corruption Extreme nationalism (up to national superiority - the state is more important than the individual) Far-right on the political spectrum Aggressive/militarism
What did the boom of the 20’s consist of?
Roaring Twenties
Lots of money and Canadians could afford things like cars, paintings, radios, telephones, and silent films
Things were produced on assembly lines, making them more affordable
Britain’s trade with Canada declined, but Canada started trading with the US more
Americans set up branch plants in Canada to avoid tariffs
Mostly raw materials were purchased from Canada (oil, coal, gold, timber, etc.) and manufactured in the US
What was the bust of the 20’s?
it was hard for Canadians to compete with the population of the US, and many artists had to move to the US to get recognition
Businesses started to overproduce goods, which led to the bust
People were over-spending and they started to accumulate debt
People used speculation (buying on a margin)- they put down only 10% of the stock and hoped it would make them rich fast
However, if the stock couldn’t cover the other 90%, the stock owner would have to pay the remainder of the stock owing
In October 1929, the stark market crashed and everyone tried to unload their stocks
Lots of people were unemployed due to the market crash and companies had to shut down
After the soldiers came back and were demobilized, they could not find jobs
Inflation was horrible
How does supply and demand work?
Supply low + demand low = even price
Supply high + demand high = even/high
Supply low + demand high = very high
Supply high + demand low = very low (sale)
who was the liberal leader in the 30’s?
Liberal Leader: William Lyon Mackenzie King
Prime minister from 1921-26, 1926-30, and 1935-48 (longest in Canadian history)
In 1930 he lost the election because of his inability to deal with the Depression (he said he would not give a “five-cent piece” to any Tory provincial government)
Wouldn’t help other parties
Balanced approach to government issues and spending
who was the conservative leader in the 30’s?
R.B. Bennett
PM from 1930-35
Gave money to provinces for work programs and to create work/relief programs
Also raised tariffs
Helped to est. the CBC to counter US influence
What was Bennets new deal?
legislation for workplace reforms that regulated work hours, minimum wages, and working conditions
Revised old-age pensions to help support workers over 65
Canadian Wheat Board to regulate wheat price
PM Bennett eventually divides to create a ‘new deal’ the same way President Roosevelt did for the U.S.
Included:
More support for farmers (Agricultural support programs to help farmers)
Made reforms to old-age security, workplace conditions, minimum wage and work hours
Progressive taxation (the more you make the more you pay)
Insurance to protect workers against illness, injury, and unemployment
