Class Notes (809,402)
Canada (493,701)
History (733)
HISB41H3 (45)

Lecture 5

8 Pages
Unlock Document

University of Toronto Scarborough
C Pennington

Lecture 5 February-14-11 2:03 PM Canada and the Dirty Thirties 1929-39 This Wednesday 5-7 - The Atomic Caf Mostly miserable period to lecture about Period of stifling economic depression - colours everything else Progress in arts and sports - dionne quintuplets Mostly a dismal period Today - start with economic themes Causes and effects of great depression Oct 1929 - wall street crash Lasts from 1929-1939 Throughout the western world - especially N.America - economy never recovered Worse till 1933 - 30% unemployment in Canada Only marginally increased leading up to 1939 Causes - overproduction - based on optimistic outlooks - companies produced too much stock When depression hit - there was much less demand in the economy Companies producing so much stock shut down factories Now people out of work - even less purchasing power bc people are unemployed lack of purchasing power - people didnt have money to purchase things with international instability - ramifications for Canada - European economies did not recover from war - Britain, Frace, Germany Germany had reparations - had to get loans from US Britain and France depended on loan payments - US stopped payments in 1928 Both Canada and US dependent on international trade - led to collapse Dustbowl affect - freak incident - dry conditions - desertification of the west For people who lived off the land - people just couldnt live Effects - decline of Canadas GNP by 40% - should grow 1-5% per yr Imports down 55% - exports down 25%, 30% unemployment -rough figure 1.5 million canadians depended on govt relief - population was only 10 million Exports - were life blood of Canadian economy If you had employment - it was a good time - things were cheap - they lived well Some lived well while others were starving Official records - no one starved to death - but that is hard to believe -people died bc of illness due to malnutrition Unemployment - more and more workplaces shut down and thrown into the street - same in rural canada - western canada Fundamental problem with unemployed - no social assistance - time period before it was socially acceptable to take relief
More Less

Related notes for HISB41H3

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.