Interwar Year Questions Ch3 Flashcards
why did canadians form trade unions?
- fear of communist revolution when russian communist group called bolsheviks overthrew the government and encourgaged others to join
- did not want bolsheviks to win the war
- workers in canada had no employment insurance, compensation for injuries on the job or pensions
- to make their demands heard
what did striking workers want?
- believed standing together they could force emplyers to pay higher wages and establish shorter working hours
- winnipeg building and metal trades councils voted to go on strike for decent wages ($0.85/hour), eight hour workdays and right to bargain as a group for better working conditions
what was the modified canadian criminal code after the general strike?
-any person born outside of canada who was suspected of trying to cause a revolution could be arrested or deported without a hearing or trial
what were lasting effect of winnipeg general strike?
- families never recovered from their financial losses
- some strikers no longer had jobs to return to
- drew attention of social and economic problems people faced
how can a stockholder make profit through the stock market?
- company sells stocks/shares withing the company for money when it wants to expand
- investors who buy stocks will receive a part of the profit depending on how many stocks they own
- if the company does well, the stock value will rise
- at that point the stockholder can decide whether to sell or hold the stock for money
what created the spiral that lead to stock market crash?
-stock prices continued to drop dramatically and many stocks became worthless
why were world leaders short-sighted when responding to depression?
- no one realized to extent that national economics became international in nature. was not aware that one suffering economy affected others in the same category
- any solution was necessarily radical
how did canadians try to adress their economic problems?
-individuels tried to sell their products door to door, panhandled, approached chruchs and charities for help, “drifted” in search of employement and collected public relief
why did people turn against bennett and elect mackenzie king in the next election?
- dozens of “trekkers” were injured in the regina riot
- 1 officer was beaten to death and 1 striker met with PM bennet to no avail
what was unemplyement during the great depression? (consequence)
- when workers were laid off and no longer has as much money to spend;this resulted in a demand for goods
- when someone falls on hard times financially, they had no choice but to rely on their families for support but unfortonately, their families were also in the same dire financial situation
- the employement rate was about 25% in industrialized countries
what was banking failures during the great depression? (consequence)
- banks went bankrupt in sea of bad loans
- it hurt depositors who lost their life savings
- USA had 6000+ failures
- most CAN banks did not go bankrupt due to canada’s more conservative banking system
what was political consequences during the great depression? (consequence)
- in the USA-the americans doubted the validity of the “American Dream”
- in germany-the political system did not work
- in canada-the formation of two new political groups (canadian cooperative federation (NDP) and social credit party) were created who would make a big impact on canadian political life
what was the change in role of government during the great depression? (consequence)
- the enlightened leaders realized the government would need to take a more active roll in caring for the poor
- the laissez faire died
- national economies were strictly controlled by elected governments ever since the depression
- the government was expected to manage the economy through tax policy (increasing/decreasing taxes), monetary policy (raising/lowering interest rates), and fiscal policy (increasing/decreasing gov expenditures)
what were the moves to canadian sovereignty?
1922-king refused to support britain invasion of turkey (chanak crisis)
1923-international treaty signed w/o british representation (halibut treaty)
1925-king-byng crisis
1931-balfour report/statute of westminster
what was included in bennett’s new deal?
-progressive taxation
-maximum number of hours in a work week
-introduction of minimum wage
-strong regulation of working conditions
-unemployment insurance
-health and accident insurance
revised old age pension plan
-agricultural support
-a marketing board to regulate wheat prices
-programs make up modern “social safety net” that help protect individuels and businesses in times of economic crisis