The First World War and The Roaring '20s
Canada played an extraordinarily large role in the First World War relative to its size. It sent over hundreds of thousands of troops, and was also the granary and arms producer for the allied side. This led to a further boom on the prairies as wheat prices skyrocketed. The rest of the country, even the Maritimes, benefited from an increase in manufacturing.
The immediate post-war years saw a short, but severe, recession as the economy readjusted to the end of wartime production. By 1921, the Canadian economy was back on its feet and rapidly expanding. In the 1920s, there was an unprecedented increase in the standard of living as items that had been luxury goods such as radios, automobiles, and electric lights—not to mention flush toilets became common place across the nation. The boom lasted until 1929.
Read more about this topic: Economic History Of Canada
Famous quotes containing the words the first, world, war and/or roaring:
“Three elements go to make up an idea. The first is its intrinsic quality as a feeling. The second is the energy with which it affects other ideas, an energy which is infinite in the here-and-nowness of immediate sensation, finite and relative in the recency of the past. The third element is the tendency of an idea to bring along other ideas with it.”
—Charles Sanders Peirce (1839–1914)
“All gentle cant and philosophizing to the contrary notwithstanding, no people in this world ever did achieve their freedom by goody-goody talk and moral suasion: it being immutable law that all revolutions that will succeed, must begin in blood.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“Surely there is not a capitalist or well-informed person in this world today who believes that [World War I] is being fought to make the world safe for democracy. It is being fought to make the world safe for capital.”
—Rose Porter Stokes (1879–1933)
“All the stream that’s roaring by
Came out of a needle’s eye....”
—William Butler Yeats (1865–1939)