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Oil Discovery At Turner Valley (1914)
In 1914, the discovery of oil in Turner Valley, Alberta, marked a pivotal moment in Canadian economic history. The establishment of the Turner Valley Oil Fields transformed the region into a major oil-producing hub, initiating an economic boom that attracted investments, created jobs, and positioned Canada as a key player in the global energy market. This event laid the foundation for the thriving oil and gas industry that remains a vital contributor to Canada's economy today. -
Primary Source 1
Conventional Oil This Photo is shown to when they first discoverd the Oil in Turner Valley and started to drill it. This marked a historical event for the Canadian econmony for years to come. -
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1914-1917
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100th anniversary of introduction of the federal income tax This is a news paper from the The Globe Shortly before the Federal Income Tax was officially introduced. The Income tax not only contributed to ending WW1 but also impacted the Canadian economy for years to come. -
Income Tax Introduced (1917)
During World War I in 1917, Canada implemented a federal income tax to address the rising costs of the war effort. This marked a pivotal economic shift, showcasing the government's response to wartime financial challenges. Originally intended as a temporary measure, income tax became a permanent fixture, vital in sustaining the war and funding government initiatives. This fiscal policy change left enduring impacts on Canada's economic development. -
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1917-1919
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The Winnepeg General Strike (1919)
The 1919 Winnipeg General Strike is among Canada's major labor movements. Arising from economic grievances such as poor working conditions and low wages, the strike in Winnipeg drew participants from various industries, underscoring nationwide dissatisfaction. Over six weeks, the city came to a standstill, affecting businesses and the economy, fostering heightened awareness of workers' rights, and setting the stage for future labor movements in Canada. -
Canadian National Railways Incorporated (1919)
In 1919, the incorporation of the Canadian National Railways marked a pivotal economic change responding to post-World War I challenges faced by Canadian railways. As a government initiative, CNR streamlined operations by merging struggling railways into a nationalized entity fostering economic development through improved efficiency and modernized transportation infrastructure. This reflected a broader trend of post-war government intervention to address economic problems and promote stability. -
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Treaty Of Versailles Portrait This is a Portrait painting of the meeting when The Treaty Of Versailles was signed by the representatives of each country involved in WW1. The signing of the treaty put an end to WW1. -
The Treaty Of Versailles (1919)
The Treaty of Versailles, signed in 1919, marked the end of WWI and brought global economic changes. While focusing on political matters, its economic clauses impacted Canada. As a British Empire member, Canada gained diplomatic independence. The treaty shaped post-war trade and economic policies, influencing Canada's role in the global economy. Provisions, like German reparations, indirectly affected Canada's economic stability, contributing to efforts to place in the post-war economic order. -
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1919-1922
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Canadian Tire Foundation Created (1922)
In 1922 amidst economic changes in Canada, the Canadian Tire Foundation, founded by John William Billes and Alfred Jackson Billes, reflects a commitment to community during a transformative era. This event underscores Canadian Tire's dedication to charitable initiatives, emblematic of a broader shift in economic values towards corporate responsibility and philanthropy. The foundation's establishment contributed to positive economic impacts by fostering community development post-World War I. -
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1922-1923
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Longshore Strikes (1923)
In 1923, Vancouver's International Longshoremen's Association (ILA), comprising 1400 members, initiated a strike for higher wages, responding to economic changes and a desire for better conditions. Disrupting maritime activities, the strike impacted the economy and reflected broader post-World War I labor trends. Despite partial success, the 1923 longshore strikes contributed to the ongoing fight for workers' rights, shaping future labor movements in Canada. -
Home Bank Of Montreal Fails (1923)
In 1923, the Home Bank of Montreal, a key Canadian financial institution, faced a significant failure due to mismanagement, risky investments and post-World War I economic instability. This collapse resulted in a global loss of savings for depositors exposing the weakness of the banking system. The event triggered ofiicial reforms to fortify the financial sector, influencing the establishment of strict banking regulations in Canada to prevent future economic crises and restore public confidence. -
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1923-1926
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Canada Back On Gold Standard (1926)
In 1926, Canada reinstated the gold standard, abandoned during World War I, linking its currency directly to a specific gold quantity. This decision sought stability and confidence restoration in the economy. Tying the Canadian dollar to a fixed gold amount under the gold standard bolstered investor confidence and affected international trade. This return aimed to uphold the dollar's value, fostering post-World War I economic stability. -
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1926-1929
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Stock Market Crash/Black Tuesday (1929)
The Stock Market Crash of 1929, known as Black Tuesday, on October 29, marked the onset of the Great Depression. With a solid decline in stock prices, panic ensued, triggering a large sell-off. Many Canadians who invested in stocks, faced financial ruin, leading to global unemployment and economic downturn. The crash's aftermath saw a decrease in consumer spending, impacting sectors like agriculture, manufacturing and trade showcasing the reciprocity of Canada's economy with the global downturn. -
Primary Source 4
Black Tuesday This is a photo of a news paper article from when the Stock Market crashed in 1929 AKA Black Tuesday. This event marked a historical point in economic history leading to the 10 year economic slump of the Great Depression impacting the economy in not only Canada but all around the globe.