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31 Cards in this Set
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- Back
- 3rd side (hint)
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Post-War Economy |
-After the war, the Canadian Government let the economy into a state of “Lassiez-faire” or in other terms, let do. -However, over-production saw many businesses lose money -Canada’s reliance on selling staple products was hindered by competition -The dust bowl of the 1930s crippled wheat production -Canada also relied heavily on the USA as a trading partner -October 29, 1929: Stock market crash |
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Winnipeg General Strike |
-1919: 30,000 workers walked off the job in Winnipeg. Then caused other strikes in VAN, TOR, and MTL -Factories and stores coed as a result -Federal Government reacted by sending in troops with machine guns. They even banned protests and anyone born outside of Canada trying to start a revolution was arrested without reason and deported -June 21, 1919: violence erupts in WPG. Streetcar is burned, the police kill 1 man, and 30 others are injured. Event known as “Bloody Saturday” |
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Trade Unions |
-Influenced by the Russian Bolsheviks -Workers created these to demand better working conditions/pay together |
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Chanak Crisis, 1922 |
-British feared Turkey might take control of a British-controlled port in Chanak -P.M. King decided that Canada would not send troops over to assist -Canadian parliament would decide whether to do so or not -Once Parliament decided, the problem had already been solved -First time Canada refused unconditional support to the mother country |
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Balfour Report |
-Acknowledged that the dominions of GBR were autonomous communities within the empire -Canadian Governor General was only a rep. of the British Monarch |
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Statute of Westminster, 1931 |
-Where Canada officially becomes an autonomous nation and a member of the British Commonwealth |
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Halibut Treaty, 1923 |
-Canada as the USA signed a treaty to protect the halibut living off the coast of Alaska -Canada signed it without its normal British Representative based in Washington, DC, thus making this another step in Canada’s growing autonomy in foreign affairs |
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Great Depression |
-Started with the stock market crash in 1929 -People rode freight trains across the country to look for jobs -Those living under the poverty line had to embarrassingly explain their situations before receiving their rather insufficient food from the food bank. Known as “Pogey” -When Bennett was elected in 1930, he made provisions to what would be today’s social safety net. However, this was done too late and it did little to bring Canada out of depression. None of this existed before the depression, such as employment insurance, work hours, and pensions. -He also set up “Unemployment Relief Camps”, which paid workers $.20 per day along with a room and board. |
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Economic Disparity |
- Inequality between ethnic groups - ie. disparity between what men and women earn in the same job |
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Economy |
- definition: wealth and resources of a country/region, especially in terms of the production and consumption of goods/services - the world's financial centre moved to Hong Kong after WWI |
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Market Economy |
- countries that have a capitalist economic system have this - Individuals producers and consumers determine the kinds of goods (things) and services (like paying a mechanic to fix your car) are bought and sold |
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Inflation |
-Rampant throughout the depression as the country’s currency becomes less valuable. -E.g. Coming to a bread store buying bread for $0.10 and after one week it is $0.80 |
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Gross Domestic Product (GDP) |
-Wherein individual producers and consumers decide on which products were to be made available and what services were to be made. |
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Trade Surplus |
- Occurs when a country exports more than it imports |
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Trade deficit |
- Occurs when a country imports more than it exports |
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Economic Core |
- An area in a given country where economic activities are more concentrated |
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Economic Periphery |
- the area outside the core - generally has fewer services and are not as wealth as those in the core area |
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Regional Disparity |
- a problem, especially with larger, less densely populated countries, wherein Economic productivity is concentrated into one area of the country - causes some regions to have more wealth than others |
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Equalization Payments |
-Allow less wealthy provincial governments to provide public services that seem more comparable to those of wealthier ones -Fixes the problem of regional disparity |
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Co-operative Commonwealth Federation (CCF) |
-Pro-worker political party -Changed their name to the NDP in 1961 |
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Social Credit |
-promoted social credit theories of monetary reform -Arose in Alberta in 1935 |
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Union Nationale |
-Identified with Quebecois autonomism |
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Bootlegger |
- made and sold alcohol illegally - aka "Rum Runner" - (Canadians supplied USA with illegal liquor during the American prohibition) |
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Group of Seven |
Group of famous Canadian artists (Emily Carr was one of them) |
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Rights demanded during the Winnipeg General Strike |
- safer working conditions - higher wages (85 cents/hour) - 8 hour work day - right to bargain with employer |
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"Buying on a Margin" |
- investors buying shares on borrowed money |
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6 Causes of the Great Depression (in Canada) |
Stock Market Crash: scramble to sell stocks cause stock prices to drop dramatically Overproduction: more goods made faster than the ability of consumers to consume Dependence on US: 40% CDN exports sold to USA; depended on them to buy our staples International Debt after WWI: USA lent money to foreign nations after WWI; they depended on selling products back to them to repay loans; when USA became protectionist, countries lost ability to pay back loans Reliance on Exporting Staple Products: countries selling some staples and competition became extreme, and droughts ("Dust Bowl") cause a chain reaction in economy Economic Protectionism and Tariffs: increase in protective tariffs. USA became protectionist, which cause countries like Canada to lose major export market |
S.O. D.I.R.E. |
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American response to the Depression |
1) Herbert Hoover refused to introduce relief measures; thought "it'll fix itself"/could be "toughed out" 2) Franklin D. Roosevelt introduced the "New Deal" which was a set of relief programs that would put Americans back to work |
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Keynesian Economics |
- belief that government should spend its way out of the Depression - said that lack of cash in circulation was making the Depression worse - "deficit financing": borrowing money and repaying it when economy recovers (spend on employment projects) |
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6 responses to Great Depression in Canada |
Diversion: stories allowed Canadians to escape realities of Depression (ie. Dionne Quintuplets) On-to-Ottawa Trek & Regina Riot: protest where men corded trains from Vanc. to Ottawa; upon arrival in Regina, they were stopped by RCMP then a riot broke out Bennett's New Deal: CDN version of Roosevelt's; included: max hours in a work week, min. wage, regulation of work conditions, unemployment insurance, health/accident insurance, etc. Unemployment Relief Camps: unemployed men worked on public projects, ie. road building Riding the Rails: hitchhiking on freight trains looking for employment; later, single and unemployed men rode because they had nothing else to do Pogey: similar to modern welfare system; vouchers from government can be exchanged for food and essentials (bare minimum) |
D.O. B.U.R.P. |
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Dionne Quintuplets |
- first natural quintuplets to survive infancy - all sisters survived to be adults - major tourist attraction in Canada (at the time) |
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