That is a great question, here let me show the class.
Cause #3: Too much credit buying
Many workers were laid off at this time. There was an over-production of goods that were unsold in warehouses throughout Canada.
We're working on it. We need to borrow more money from the bank.
Cause#1: Over-production and over-expansion
We need to keep building factories and expanding!
Canada depended heavily on the United States for its export and import of goods. 65% of Canadas imports and 40% exports were from United States. When the depression hit America, it affected Canada greatly.
Cause #2: Canadas dependence on the United States.
How will we survive. The United States was our biggest trading partner. We rely on them.
The depression has hit us. We can no longer afford to buy your goods or export ours to you.
Your greatly in debt
We get to borrow money, now we can afford more land and so much more!
This is so exciting!
All this land is now ours and all your belongings will be taken away!
Cause #4: The great crash "Black Tuesday"
In 1929 the stock market crashed causing lots of people to lose great amounts of money.