Causes and Effects of the Great Depression

Section 5.3Fill in the blanks The main event that started the Great Depression was the stock market crash. A stock is a share in the ownership of a company. People could buy stocks and could earn dividends when the company made profits or they could make money if they sold the stock at a higher price than they paid for it. The roots of the Great Depression, however, were deeper than just Black Tuesday. Canadians used credit to buy lots of goods. Manufacturers borrowed money to pay for new equipment to make more of the things people were buying.Manufacturers produced more things than customers wanted. Farmers grew more food than people needed. There were large stockpiles of unsold goods all across Canada.Trade with the United States slowed down as the US economy slowed. Canadians lost their jobs when US investors closed their factories in Canada. Trade with the rest of the world slowed down too. Countries placed tariffs on imports and it was harder to sell goods. Section 5.4 In 1930, the federal government gave $20 million to the provinces to help with the economic disaster. Public relief is money given to people who need it and public projects are things built by the government, partly to provide people with jobs and partly to grow infrastructure. Infrastructure is things like roads, bridges, and schools built by the government to be used by the public.Prime Minister Bennett tried to negotiate better tariff rates with the US but he failed. He also believed that a balanced budget was important. A balanced budget is one where the government doesn't spend any more money than it collects in taxes. It was very difficult to find employment during the Depression. It was especially difficult for the poor, working women, First Nations, and visible minorities. This extra difficulty was due to discrimination.Many people were homeless and hungry. Malnutrition and diet-related diseases such as scurvy were common. People wore second-hand clothes. There were no government assistance programs such as medicare, unemployment insurance, or child tax credits. What are some of the ways people tried to survive during the Great Depression? Ways to Get By Panhandling Door-to-door sales Begging Public relief The dole Pogey Charity from churches Travelling across Canada to look for work Not Ways to Get By Telemarketing Unemployment insurance Selling goods on Amazon Becoming farmers in the Prairies What did the members of the Communist Party believe in? Why did the Communist Party frighten many Canadians? What did the Co-operative Commonwealth Federation believe in? What was the Social Credit Party's solution to the Great Depression? What ultimately ended the Great Depression?