Great Depression In Canada
Canada was hit hard by the Great Depression. The worldwide Great Depression that started in the United States in late 1929 quickly reached Canada. Between 1929 and 1939, the gross national product dropped 40% (compared to 37% in the US). Unemployment reached 27% at the depth of the Depression in 1933. Many businesses closed, as corporate profits of $398 million in 1929 turned into losses of $98 million as prices fell. Farmers in the Prairies were especially hard hit by the collapse of wheat prices. Despite the emergence of numerous radical parties, the government was run by the major parties and no large-scale experiments, such as the American New Deal were attempted. The Depression ended in 1939 as World War II began.
Read more about Great Depression In Canada: Economic Results, World Trade, Government Reaction, Recovery
Famous quotes containing the words depression and/or canada:
“Geez, if I could get through to you, kiddo, that depression is not sobbing and crying and giving vent, it is plain and simple reduction of feeling. Reduction, see? Of all feeling. People who keep stiff upper lips find that it’s damn hard to smile.”
—Judith Guest (b. 1936)
“What makes the United States government, on the whole, more tolerable—I mean for us lucky white men—is the fact that there is so much less of government with us.... But in Canada you are reminded of the government every day. It parades itself before you. It is not content to be the servant, but will be the master; and every day it goes out to the Plains of Abraham or to the Champs de Mars and exhibits itself and toots.”
—Henry David Thoreau (1817–1862)