Presentation Transcript

1. Prosperity and Depression

   Chapter 5
2. What is Prosperity? Prosperity: a successful, flourishing, or thriving condition, especially in financial respects; good fortune What does this mean?
3. What is Depression? Depression: A period of drastic decline in the national economy, characterized by decreasing business activity, falling prices, and unemployment. What does this mean?
4. Prosperity in the 1920’s:The War is Over! When the war ended the economy in Canada had to adjust from a wartimeeconomy to a peaceful economy. Why do you think this is? During the war Canada produced goods to ship to Europe in which they were in high demand. This caused Canada's economy to flourish and to gain prosperity.
5. Goods? Goods: articles of trade, possessions, merchandise
6. Goods in Demand Food Ammunition Specialty weapons Transportation vehicles Clothing
7. Activity #1 How would you have felt if you had served in the armed forces during the First World War, but could not find work when you returned to Canada? Think about…… - The amount of time you were away - How much effort you put in towards the war - You served your country and they wont help you find a job when you return - How will you make money? Write a letter to the government explaining how you feel about this situation, what you did for the country and how you will make money and support you and your family.
8. However… What happened to Canada’s economy when the war ended? The Canadian economy went into a temporary slump. Why did this slump occur? The demands for goods in Canada decreased because Europe did not need the products Canada was manufacturing and sending over.
9. Eventually… By 1923 Central Canada, British Columbia bad the Prairies had begun to recover from the economic slump. These areas within Canada entered a period of growth. In the Prairies the production of agricultural increased, wheat became in high demand. In British Columbia, Manitoba and Central Canada mining activity increased. (iron ore, zinc, copper, nickel)
10. Trading With the U.S Trade with the United states increased in the 1920’s, this creating a boom in Canada’s economy. Epically in the pulp an paper industry. The United States built branch factories within Canada to avoid tariffs. Branch Factories: a plant or factory in Canada belonging to a company whose headquarters are in another country Tariffs: tax placed on foreign goods imported into a country.
11. Productivity Electricity was in wide spread use by the 1920’s. The use of electricity and gas powered machinery increased productivity. The introduction of the assembly line increased the numbe of products that could be made. Assembly Line: a row of workers and machines along which work is passed until the final product is made.
12. Questions: What impact would greater trade with the United States in the 1920’s have had on Canadian Identity? How did the availability of electrical power affect manufacturing? How would the assembly line and mass production increase profits for a company?
13. Stalled Economy Some provinces within Canada did not experience a major growth of their economy (Maritimes) These provinces seen slow growth and others saw a decline in growth. Halifax and Saint John were unable to modernize quick enough to compete with other ship building ports. (Montreal)
14. The Maritimes Increased railway freight rates Manufactures were forced to raise their prices Industries located further away from the rest of the markets in Canada Between 1920-1926 the region lost 42% percent of its manufacturing jobs Many people left to find jobs other places
15. Continued… Hydroelectricity was slower to develop in the maritimes First plant didn’t open until 1931 Lack of electricity = lack of technology As a result, secondary industries such as pulp and paper were much slower developed. secondary industries: The industrial sector of an economy that is dominated by the manufacture of finished products.
16. It Keeps Going…. The Maritimes deepened on the primary industries during the 1920. Major source of employment What are some primary industries? primary industries:An industry involved in the extraction and collection of natural resources
17. Primary Industries Fishing Farming Mining Forestry
18. The Economy of Newfoundland - At this time Newfoundland and Labrador was an independent colony within the British rule. - There was significant expansion within the forestry industry and mining industry. - Mills were built in Corner brook and Grand-Falls - Over half the labor force worked in the fishery.
19. Continued… - Profits were no reinvested in Newfoundland. - The government faced increasing debt due to contributions to the first world war and the construction of the island-wide railway. - Overall as the 1920s ended the newfoundland economy was very fragile
20. Questions… 1) How did these factors hamper the Maritime and Newfoundland economies in the 1920’s? - railway - lack of capital for investment - development of hydroelectric power - tariffs 2) How did the lack of secondary industries limit economic growth? 3) Why might people have believed that a Maritime union would be beneficial?
21. Lifestyle and Technology
22. In the 1920’s… Roaring Twenties, because of the good times and social freedoms. New products and technologies made life easier and more enjoyable. Mass production made products readily available.
23. The Haves… As wages increased, workers had more money to spend on new products. Installment plan was introduced. - Installment Plan: a debt to be paid at regular times that includes interest. Ex. Farmers wanted new mechanized machinary but could not often pay cash, so an installment plan would be ste in pace so they could afford it. Cars topped the peoples wish list. (Cars made travel easier) Telephones became popular in this decade as well. In 1920 only one family in four had a telephone, by 1929 three out of our familes had phones.
24. The Have Nots… The working poor did not benefit form the 1920’s boom. Many African Canadians and Canadians of Asian descent found themselves among the working poor.. Woman lost their job when the men returned from the war. Conditions for children had been improved, many young people worked for family businesses or left school to join the workforce. - 1929, laws prevented children under the age of 14 from working in factories and mines.
25. Aboriginals The federal government hoped to assimilate aboriginal people into the mainstream culture. - Assimilate: to make or become a uniform part of a larger group. It was compulsory for the aboriginal children of ages 7-15 to attend school. Government thought schools were the best way to assimilate the aboriginals. In Newfoundland there was no assimilation policy. The league of Indians of Canada was created, but the Department of Indian Affairs countered that by making illegal for Aboriginals to form political parties or hire a lawyer to represent them.
26. Questions: 1) How did the availability of credit change people’s lives? 2) Imagine your world without the new inventions of the 1920’s. What do you think you would find the hardest to do without? How would it affect your life? 3) First Nations maintained their cultures in spite of the governments policy of assimilation and discrimination they have faced from society, What does this say abou their sense of identity?
27. Leisure and Sports Inventions of radio and motion pictures enriched leisure activities in the 1920’s. Silent movies were a popular form of entertainment. With more money people had begun to attend sporting events such a baseball, football and boxing. In 1928 woman were able to compete in track and field at the Olympics for the first tome. Nightclubs became popular. Fashions changed, but could only be worn by the people who could afford them.
28. Fashion The look in woman's fashion was designed to demostarte a new freedom Hairstyle was “boyish”, long hair was out Men's fashion reflected a less conservative look. Men wore baggy pants and knickers, hats and bow ties. These trendy styles could only be afforded by the upper class members of society.
29. Videos: The Roaring Twenties http://www.youtube.com/watch?v=kVOflzLGKCc http://www.youtube.com/watch?v=MExfjbSmR0k
30. Questions: What forms of entertainment bring U.S culture into Canada today? Do you consider this to be a threat to Canadian identity? Why? How did women's roles change in the 1920’s? What did the new fashions suggest about women?
31. Causes of the Great Depression
32. What is was the Great Depression? The Great Depression was a severe worldwide economic depression in the decade preceding World War II.
33. Causes of the Great Depression The critical event that marked the end of the roaring twenties and the beginning of the Great Depression. The Stock Market Crash! On October 29,1929, know as “Black Tuesday”, New York’s stock market crashed. Stock Market: place where stocks are bought and sold; the buying and selling of stocks and bonds; the price of stocks and bonds across a country.
34. The Stock Market To understand the stock market crash we have to understand what it is. A stock is a share in the ownership of a company. Many companies sold stocks in the 1920’s to raise money to develop new products or expand their businesses. Stock: the capital of a company divided into portions or shares of uniform amount that can be bought or sold. Share: one of the parts into which the ownership of a company is divided; shares in a company can be bought and sold on the stock market.
35. The Stock Market When a person bought a stock he or she was promised a share in the company's profit, called a dividend. Dividend: money to be shared by those to whom it belongs; if a company makes a profit, it declares a dividend to the shareholders, or owners, of the company. During the First World War, Canadians had been encouraged to buy victory bonds. Victory bonds were certificates that were used to raise money for the war, these bonds could be cashed in after the war for the purchase price plus interest.
36. So… On October 24, 1929, share proces began falling dramatically on the New York Stock Exchange, the major stock exchange in North America. Stock Exchange: place where stocks are bought and sold. Shares became worthless and shareholders began to sell their stocks trying to get out before they lost even more. Without the confidence of investors, the stock market crashed and the Great Depression began.
37. Questions: How could investing both help and hurt the economy? Could the Canadian government have prevented the Great Depression in Canada?
38. The Roots of the Depression The roots can be traced back to spending and buying habits in the 1920’s. With easy credit available more people bought more products, and also borrowed more money to pay for expensive equipment. Ex: Farmers Manufacturing practices were another root, believing the good times would continue companies began to produce more good costumers wanted, stock piling their goods. Canada relied on trade with the U.S, when the United States economy slowed, Canada lost much of that trade. Many investors pulled out and factories closed. Many people were out of work.
39. Effects of the Great Depression
40. Failing Economic Policies R.B Bennett became prime minister, he promised to take action Bennett's’ government gave 20 million in aid to the provinces. Provinces used this money for public relief and public works. Public Relief: financial aid paid form public funds and given to the poor by the government. Public Works: things built by the government using taxes or aid for the benefit of society.
41. Continued… Bennett believed that a balanced budget was the answer. He waited for the recovery to happened but conditions worsened. balanced budget: a budget where income and expenditures are equal; the avoidance of debt.
42. Social Conditions Unskilled laborers, small businesses owners, farmers and young people found it almost impossible to find work Conditions worsened for already disadvantaged groups, such as the poor, working woman, First Nations and visible minorities Malnutrition and diet-related disease such as scurvy became all too common.
43. Continued… During the 1930’s there were no government assistance programs such as Medicare, unemployment insurance or child tax credits. Relief camps were established for young men, they were sent there so clearing brush, cutting wood or building roads. Others were “hobos” and “rode the rails” by jumping into empty boxcars of frights to travel Canada looking for work.
44. Escape from Hard Times Children were forced to be creative in their toys and making up games Radio provided a cheap way to forget their troubles. Movies were a way for those who could afford it to escape the harsh reality of life.
45. Questions: How did people try to cut expenses during the Depression? Why were rural people in Central and eastern Canada able to cope better than urban Canadians or farmers on the Prairies? (Hint: Page 90-91) How did people try and escape the harshness of life at this time?
46. Political Change Canadians believed that the political parties were not delaying with the problems of the depression properly. New parties were formed in the 1930’s The new parties had new ideas for solving Canada's social and economic problems. Page 94 – Different parties
47. Questions: 1) Why do you think alternative political parties might have been especially popular with the western Canadians? 2) Discuss question 2