In the 1920s, Canada was roaring. Everyone was happy that the war was over and they spent loads of money for entertainment and new technologies. Everyone had enough money for many things. This may seem good but it later resulted in a huge economic depression that lasted throughout the 30s (1929-1939). This was caused mostly by the crash of the New York stock market.
Firstly, in the 20s many people craved entertainment such as sporting events since there weren’t as many options then like there are today. First, sports played a big role in everyone’s lives because it sparked a lot of excitement. There was a lot of talk about sports and to keep up with the crowd, people wanted to watch them. Next, many Canadians paid to watch big games of baseball, …show more content…
Cars were being sold like crazy until almost everyone had at least one. First, automobiles were a way people could get to places fast. They weren’t too expensive either, many models sold for under $400 while improved models were a lot more expensive. Secondly, not only did this create business for companies, but it also created jobs as assembly line workers. By the late 1920s, about 50% of families owned an automobile. This goes to show how much money car companies were making. Lastly, although an automobile seemed great, there were many drawbacks. Gas stations weren’t too common so you’d have to carry gas with you in case you run out. If you got lost, there were no concepts of maps so it was hard to find your way back. Also cars in this time lacked safety precautions. They thought that deaths related to vehicle collisions was the fault of the driver. As years progressed, cars were made safer. Today, we have learned from car accidents in the past and have all sorts of safety measures and improvements that conserves gas. Also built in GPS systems are installed so you won’t get lost like you would’ve back then. Wrapping up, the automobile industry was one of the biggest technological industry in the 20s and it provided many people with faster transportation and …show more content…
This was a big issue because everyone was looking for ways to make more money. First of all, stocks were shares of a business that entitles the investor to a certain amount of the profit made by the company. This system was made to give companies more funds to get the business flowing. Secondly, the cost of stocks normally reflects on the amount a company makes but the people changed that. People started buying because the price of the stocks kept going up, and they could sell them once the price peaked. This gave businesses the money they needed and more. But in 1929, the prices for stocks dropped and everyone started selling them off. Since more people were selling them instead of buying, the price deflated pretty quickly and those who bought on margin (borrowed from the bank to invest in stocks) lost nearly everything and are now indebted to the bank. Lastly, the crash of the stock market was the ultimate cause for the great depression because it left people without money to spend which caused businesses to shut down. The crash has taught us that investing in stocks is extremely risky so today, people don’t spend all they have on stocks. Also, the stock market today is much more stable than it was back in the 20s and 30s. There are no drastic changes anymore from people that want to make profits. Now you either gain a little or lose a little and people take caution and
Firstly, in the 20s many people craved entertainment such as sporting events since there weren’t as many options then like there are today. First, sports played a big role in everyone’s lives because it sparked a lot of excitement. There was a lot of talk about sports and to keep up with the crowd, people wanted to watch them. Next, many Canadians paid to watch big games of baseball, …show more content…
Cars were being sold like crazy until almost everyone had at least one. First, automobiles were a way people could get to places fast. They weren’t too expensive either, many models sold for under $400 while improved models were a lot more expensive. Secondly, not only did this create business for companies, but it also created jobs as assembly line workers. By the late 1920s, about 50% of families owned an automobile. This goes to show how much money car companies were making. Lastly, although an automobile seemed great, there were many drawbacks. Gas stations weren’t too common so you’d have to carry gas with you in case you run out. If you got lost, there were no concepts of maps so it was hard to find your way back. Also cars in this time lacked safety precautions. They thought that deaths related to vehicle collisions was the fault of the driver. As years progressed, cars were made safer. Today, we have learned from car accidents in the past and have all sorts of safety measures and improvements that conserves gas. Also built in GPS systems are installed so you won’t get lost like you would’ve back then. Wrapping up, the automobile industry was one of the biggest technological industry in the 20s and it provided many people with faster transportation and …show more content…
This was a big issue because everyone was looking for ways to make more money. First of all, stocks were shares of a business that entitles the investor to a certain amount of the profit made by the company. This system was made to give companies more funds to get the business flowing. Secondly, the cost of stocks normally reflects on the amount a company makes but the people changed that. People started buying because the price of the stocks kept going up, and they could sell them once the price peaked. This gave businesses the money they needed and more. But in 1929, the prices for stocks dropped and everyone started selling them off. Since more people were selling them instead of buying, the price deflated pretty quickly and those who bought on margin (borrowed from the bank to invest in stocks) lost nearly everything and are now indebted to the bank. Lastly, the crash of the stock market was the ultimate cause for the great depression because it left people without money to spend which caused businesses to shut down. The crash has taught us that investing in stocks is extremely risky so today, people don’t spend all they have on stocks. Also, the stock market today is much more stable than it was back in the 20s and 30s. There are no drastic changes anymore from people that want to make profits. Now you either gain a little or lose a little and people take caution and