On Tuesday , October 29, 1929, the New York Stock Exchange collapsed. All that people wanted to do is sell, so over 23 million shares changed hands.
This could have been avoided because people shouldn't have invested in this market.
Also, after the World War 1, nobody wanted wheat because it was found really easily. It was being produced more than sold.
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Canada had close economic ties to the U.S. It relied on the U.S. because they were the largest business and investors.
The U.S. imposed tariffs to protect itself. Other countries also imposed tariffs and the world trade was decreasing which resulted in fewer exports from Canada.
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Canada was not effective in helping it's citizens during the depression because all the people were unemployed and they later became homeless.
Prime Minister Mackenzie King was unprepared to deal with a crisis about Depression. King failed to understand that unemployment was a major issue for Canadians.
In 1931, the Canadian government banned the Communist Party and arrested several of its leaders.
The federal government decided to create work camps for unemployed, single men.
In B.C. the provincial government had already established work camps, and these were absorbed into the federal ones.
During the Interwar phase, Canada experienced lots of ups and downs economically, socially, and politically.
Overall, Canada had a well rounded positive experience in economic, social, and political fields.
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