The Great Depression : The Collapse Of The Stock Market Essay

1188 Words Oct 29th, 2016 5 Pages
How would you feel you have everything one moment and nothing the next? This was the reality that many Canadians were forced to live through during the “dirty thirties”. While a few people were still able to live comfortably, many more lived a desolate, impoverished life after the success of the 1920 's. The collapse of the stock market, the overproduction and over dependence of staple products, the excessive buying of stocks on loan and more caused many long and short term effects for the youth, working class and old alike. One of the darkest times in Canadian history was the Great Depression, due to economic, social and political impacts which affected the entire country.

The Great Depression was a devastating economic time for the whole world and it was no different for Canada. Economic struggle began after international trade collapsed and Canada 's economy took a severe hit especially in the Prairie provinces. "With its economy so heavily dependent on natural resource extraction, Canada was especially hard hit by the Great Depression that followed the crash of the U.S. stock market in October 1929." (Encyclopedia Britannica, 2016). Canada 's overdependent economy failed them and when the sale of staple products collapsed so did all of the prairies source income. Staple products are basic raw materials used by almost all of the population, for example, wheat is considered a staple product. Unable to produce any other source of income,each of

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