The Great Depression Of Canada Essay

1450 Words Jun 9th, 2015 6 Pages
Canada, among other countries was hit the hardest by the Great Depression and suffered substantial losses. Their government failed to provide adequate means of support in time, trade dropped significantly, and the employment rates and the economy were at an all-time low; causing a large number of actions to be taken by citizens to stand up for what they believed they needed. The Great Depression began on October 29, 1929 and would last for 10 years until the Second World War. Canada was faced now with an economic crisis that affected everyone 's lives from rich to poor.
Everyone was affected in one way or another by the devastating effects of the stock market crash. During the 1920’s, it was a time of prosperity. Stocks were bought on a credit of 90% and people would wait to for the stock to go up and sell it at a profit. People were shocked by the crash and quickly sold their stocks at a loss to prevent further debt; the stock market quickly plummeted putting the country into the Great Depression. Within no time people were forced to sell things such as, their possessions, homes and properties at an extremely low price while they could still get the most out of them. Just to be able to keep food in their family’s stomach and provide some means of support for them. Along with the personal losses, “It also destroyed people’s confidence in investments and savings, and that made things far worse.” (Harris 16).
There were few who actually benefited in ways from the Great…

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