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Wheat Shortage
With many workers leaving to fight in the war, wheat and bread became scarce. So, Canadians were heavily encouraged to eat less bread and wheat products. Farmers were told, “Food will win the war”(Stephenson, Herald). To provide more wheat to the soldiers, farmers in the prairies expanded their acreage and increased the number of crops produced which lead to farmers benefiting financially due to the high demand(Stephenson, Herald). -
Shell Crisis
In 1915 there was a massive shortage of artillery shells. During the war, the military would expend millions of them in barrage and siege-like battles. They were using more than the industries were able to produce. So armies were having to limit the number of shells each gun was able to fire a day(Finance and War Production). -
War Bonds
During WW1, the Canadian government was in debt and needed money for Canadian loaned their money to the government in forms of war bonds. The first victory war bonds brought in $100 million. To entice the Canadian citizens, they were given interest rates of up to 5.5% for up to 20 years. The total amount raised from the bond exceeded $2 billion(Finance and War Production). -
IMB
The Imperial Munitions Board was created in November 1915. It is the Canadian run branch that only answered to Britain. Their purpose was to relieve the shell crisis in 1915. The board arranged for Canadians to manufacture war material on behalf of the British government(Burcuson). -
Taxes
The first world war marked the beginning of taxes. With the Canadian government in need of financial help, they originally introduced the Business Profits War Tax Act then transitioned over to the Income Tax War Act that would cover both personal and corporate income. After the war, the Canadian government decided to keep these taxes because they still needed to pay for war expenses(History of Taxes). -
Winnipeg General Strike
The Winnipeg General Strike was the largest strike in Canadian history. From May 15 to June 25, 1919, it had more than 30,000 workers leave their jobs. The main causes of the strike were the workers wanted the right to collective bargaining, better wages and working conditions(Reilly). -
Canada's Debt
Canada’s debt grew significantly during the war years. With the war lasting much longer than anticipated, Canada massively exceeded its pre-war budget. It was set at $185 million and throughout the war and quadrupled to more than $740 million. From the start of the war to the end the debt increased from about $300 million to nearly $1.2 billion(Reilly). -
Post- War Unemployment
Although the conclusion of the war saved many lives, it didn’t help the quality of life back home. After the war, unemployment increased significantly with there being no need for war production(Martin). This combined with the number of soldiers coming back home to the realization that their jobs are no longer there's left many Canadian’s unemployed. -
Urbanization
Throughout the war, agriculture was a key part of the Canadian economy, but in the years following it shifted towards more factory and industrial based. “1921 census marked the first time that more Canadians were counted as urban than rural”(Owram). The need for materials became more and more in demand, creating a larger market for it to be sold in. -
Great Depression
In 1929, Black Tuesday marked the day where the stock market and economy would be affected for many years to come. On this date, there was a drastic crash in the New York stock market. Canada being a very heavy resource-based economy was greatly impacted by the results of this because of the inability to buy and sell goods. This left millions of Canadians unemployed, homeless and hungry.
