-
Economic change in Canada in 1914
Canada's debt had started a bit before WW1 and quickly got higher because of it. In 1914 there was a drought of wheat and farmers had started to lose money because of it. But in 1916 they introduced the Imperial Munitions Board where it allowed Men and women at home to work and make money. -
Economic change in Canada in 1915
After the world war, Canada had very little money and couldn't afford many things. During 1914-1915 50,000 railway workers lost their jobs because Canada couldn't afford for them to work. Canada created victory bonds. This was where citizens would give the government a loan that they would get back once the war was over. They would even make some money out of it from the interest. In 1915 100 million dollars worth of victory bonds were purchased. -
Economic change in Canada in 1916
Like most places Canada thought the war would be short but they were very wrong. This lead to massive debt in Canada. Canada had to lay off many employees and also took loans from Britain and the USA. Canada's pre-war budget had gone from $ 185 Million to $ 700 Million by wartime and their debt totaled over $1,665 billion. In 1916 Canada started the Income tax. They would tax people and businesses to help fund the war because of how expensive it was. This ended up staying and is still ongoing. -
Economic change in Canada in 1918
The economy had changed a lot after the world war and a lot of this has to do with who was working. They said that there were a lot more women doing “men jobs”. They were primarily in Ontario and Quebec. Many of the women who took these jobs already worked but they just wanted better pay. -
Economic change in Canada in 1918
Coming back from WW1 alive was lucky. The people that did survive went back to work and had trouble finding jobs, or using their benefits. A lot of veterans would have to take low paying jobs just to make money. By 1918 Canada was 2 billion dollars in debt and that's not counting the money they needed to support the returning veterans. -
Economic change in Canada in 1919
After WW1 finished the government had to provide the war veterans with benefits. The Military Hospitals Commission and the Department of Soldiers’ Civil Re-establishment provided hospitals, sanatoria, and vocational training for the returning and the wounded. In 1919, the Pension Act formally established the Board of Pension Commissioners, solidifying in Canadian legislation the network of welfare which is still in use. -
Economic change in Canada in 1920
After the first world war people were eager to enjoy their new life, and that's where all the new inventions came in. But it wasn't great for everyone as some farmers did not have enough money so they moved to find new jobs. Then in the early 1920s 50% of people were unemployed. -
Economic change in Canada in 1920
In the 1920s the US economy affected Canada's economy too. The demand for minerals and pulp was there and this made tons of Canadians move into the northern forest and onto the canadian shield where there were lots of minerals. -
Economic change in Canada in 1920
During this time, Canada's industry had extremely advanced, they did this with “export booms” during this time. They made cars, aluminum, paper, pulp, radios and home appliances which helped spark many more advancements in technology. -
Economic Change in Canada in 1929
The Great Crash of the stock market in October 1929 created panic in Toronto and Montreal. The crash created billions of dollars in lost revenues for investors and businesses. It was the start of the Great Depression as companies laid off thousands of workers and many shut down. Unemployment jumped to a high at 25 percent during a time when people struggled to make ends meet. Only the outbreak of war in 1939-40 and the need for war supplies brought employment and industry back.
