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Lecture 5

lecture 5 - WW1

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History 2125F/G
Peter Krats

Lecture 5 “Great War “and the twenties: Rollercoaster rides for Business and Labor Pre war recession • Overseas credit tightens • Credit – reliant business • Need less lumber, bricks, steel • Resource industries • Transportation • Less work -> consumer demand down War anticipation • What do they need to do • War measures act 1914 • Cabinet dictatorship • If they decide to do that and the governor general signs it is law until the emergency is act • Government can do what it want Power over Business / Economy • Cost of living controller • War trade board • Wartime grain board • Finance act as central bank • Purchase of CNOR and GTPNT • Railways -> Canadian national railway • Purchasing war materials Wartime Materials • More government business booms after uneven start • Early on they get burned but by 1914 – 1915 we work things out • Imperial munitions board run by Joseph Flavelle • Contracts with 600 firms / 25000 workers
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