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Canada entered the war on August 10, 1914, sending 25 000 volunteers with a promise from Britain that they would return home by Christmas. However, when the war began to escalate Canada sent more troops to Europe. Meanwhile, the economy at home was forced to change in order to accommodate the war. On the Home Front as it was known, Canada was going though the greatest economic change that it had ever experienced. Because of the war, many new industries were formed in Canadas cities. In these factories guns, food, munitions and other war supplies were produced for the soldiers overseas.
In addition, rural Canada went through great economic changes. To feed Allied troops, Canadian farmers expanded their farms in order to produce upwards of four times more food than they had to before. Allied forces desperately needed the food they produced for the soldiers. Women began to play important roles in Canadas economy. While Canadas men were fighting, women picked where they left off in the workforce. They were key in the war effort, as well as keeping Canadas economy running.
Resource industries in Canada also expanded and Canadas marketplace began to grow. During the war, demands for Canadian goods went up in Europe and in Canada. Increased demand caused inflation on products in Canada to skyrocket, as prices on most products nearly doubled. The workers wages went up as well, but they didnt keep up with the inflationary prices.
Workers therefore had to do with less. During this time the government expenditures on the war were enormous. The war was costing Canadians a million dollars per day. For a country of only eight million this was an extremely large burden.
In order to raise funds, the government introduced income tax, and sales tax and luxury tax. They also borrowed money from the people through Victory Bonds. When the last shot was fired in World War 1 on November 11, 1918, Canada had gone though a great economic transformation; the economic changes the country endured would influence it forever. After the war, Canadian soldiers came home expecting to be regarded as heroes. Instead they came home to unemployment, because the munitions factories and army supply factories were shut down. Canada had to adjust from war economy to a peacetime economy.
Unemployment was very high, and they government couldnt do very much because they were still recovering from the economic losses due to the war. In the early 1820 s Canadian workers began to form unions to help ensure equality and job security. Many strikes were staged all across the country in an effort to improve working conditions. These hard times were short lived, however, because in 1923 Canadas economy was once again on track. Farmers produced bumper crops, and their wheat was in high demand in war torn Europe. People began to settle in Western Canada, and factories were producing new products like cars, radios, and refrigerators.
With the introduction of all these new products, unemployment dropped and people had money. One the big reasons for the pick up in Canadas economy was increase trade with the U. S. The US purchased most of Canadas raw materials, and they set up branch plant in Canada to produce American products. In addition Canada was continuing to expand its economy.
Resource industries were broadening, immigration and railroads were continuing to expand the west, Canada was truly a country on the rise. Women also were working in the economy. During the war many of them got jobs and most of them retained them throughout the 20 s. Prohibition also played a large roll in Canadas economy, albeit an illegal one. Canada introduced prohibition in 1917, and in ended in 1919. More importantly, however, was that prohibition in the USA lasted from 1919 to 1933.
Canadians liquor barons set up shop and sold contraband liquor to other Canadians between 1917 and 1919 and in 1919 they began selling to Americans. The illegal liquor business was a huge money making industry for Canadians. The liquor trade however led to organized crime, which is still a problem in society. The 20 s were a time of partying and having fun.
Unemployment was low; Canada had just won the war. New and exciting products were being introduced to the marketplace. It was truly the Roaring Twenties. The 1930 s were known as the Great Depression. During this time Canada experienced great economic hardships. Companies went bankrupt, thousands of people were out of work and Canadas foreign trade went down.
The Great Depression began in 1929 when the US stock market crashed. Many people in Canada had a lot of their money tied up in stocks on the US stock market. When the stock market crashed many Canadians lost everything. The same occurred in the USA, and this meant even bigger problems for Canadas economy.
The US was now Canada biggest customer of our exports, however many American companies went bankrupt after the crash meaning that there were less customer to buy Canadian products. This led to the bankruptcy of many Canadian companies. To add insult to injury, Canadas biggest industry-wheat, suffered a huge blow in 1929. Farmers in the mid-west were experiencing a terrible drought; there was no rain and high winds. Topsoil blew up into the air and created giant dust storms.
Canadian farmers watched as their crops dwindle as well as their income. The average income per farm in Canada dropped from $ 1614 farm to only $ 66 farm! Over and above all the hardships Canadian farmer endured, they had to sell the wheat they could produce dirt-cheap. Competition from countries such as Australia, and Russia had lowered world prices. By 1933, it cost more to produce the wheat than it cost to buy it. The Canadian economy was hard hit in the 30 s, foreign countries were not trading with unemployment had risen to 25 %, and the economy within Canada was deteriorating.
The government tried all it could to change the situation. Trade talk with other countries produced nothing. The government gave money to unemployed people, but that only proved to be short-term solution. It seemed Canada was never going to rid itself of the Great Depression. In 1939, The Canadian government signed trade deals with the US, and increased aid to farmers. This didnt end the depression, but it helped.
Unemployment dropped to 12 %, and Canadas exports slowly began to increase. As it turns out, however, only another World War would end the Great Depression. On September 1 st, 1939, German forces invaded Poland. On September 3 rd Britain and France declared war on Germany, World War II had begun. On September 10, 1939 Canada declared war on Germany. This spelt the end of the depression as once again because of the war, many new industries were formed in Canadas cities.
In these factories guns, food, munitions and other war supplies that were once again in demand for troops. By 1941, war factories were booming. Once again the government issued Victory Bonds to finance the war, response huge. Patriotic Canadians purchased $ 12, 000, 000, 000 worth bonds from the government, and they made Canada a very integral part of World War II. Efforts made by Canadian industries during the war were great.
Canadian farmers, fishermen, miners, and other industrialists produced huge amounts of materials for the Allies during the war. Due to his huge demand Canadian industry experienced tremendous growth, and prosperity. As in World War I, Canadian women kept industry moving at home, while the men fought overseas. Women willingly took jobs in factories to produce weapons and supplies, and by 1945 over 1 million women were working in Canadian industry. The war once again revolutionized Canadas economy; the once stagnant economy endured during the 30 s had become a booming prosperous one.
Canadians home made many sacrifices; the government introduced rationing into the marketplace. The government would give out product stamps so that people only bought what they needed (Things such as food, gas, and household products). This was done because the government needed as many supplies as possible to send to troops fighting in the war. All production on luxury items, such as cars were stopped so that all materials could go to war vehicles. People knew they had to sacrifice in order to win the war, but they knew once the war was over Canada would once again prosper. When the Japanese surrendered on August 14, 1945, Canadas economy was once again on track and expanding.
The fifties were much like the twenties; Canada was going through an economic boom. Newfoundland had just joined confederation, and had vastly expanded the countrys fisheries. In the fifties US investment in Canada skyrocketed, tripling from 1945 to 1955. This meant that Canada became very wealthy thanks to US investment. One of the biggest economic achievements in the fifties was the construction of the St Lawrence Seaway. This billion-dollar project helped Canadas trade industry immensely, because it aloud ships to enter the Heart of Canada.
New products were entering the marketplace, created many jobs in factories, and workers wages increased along with it. Post war immigration let many people into the country, and the economy benefited from the boost in population. There was major urbanization, as the baby boom had many people move to cities to have access to education and jobs. This was a time when the middle-class emerged. With so many Canadians earning decent wages, a middle-class of people emerged.
People had cars, TVs, vacations, and it wasnt only the rich, it was the average Canadian. The tourism industry took off, as many people began to travel the country, and buy cottages. Thanks to the boom many government services were introduced, like unemployment insurance, and family allowances. The 1950 s were a terrific time to live in Canada, unemployment was low, standards of living high, and the country was making money, and everyone happy. Who wouldnt want to live here? The sixties were a time of turmoil.
Never in its history had Canada been so dominated by its youth. With youth came new opinions and ideas, this generation of Canadians had only experienced prosperity and they began to expect it. Many of them went to college where they were taught how to solve the problem of the recurring depressions, like the one of the thirties. They used this knowledge to set up government programs that eventually swiftly snuffed out the beginnings of a rescission in the early sixties.
Canada continued to exploit its natural resources, and the economy continued to grow. Government spending on social programs also increased, and the government continued to raise taxes to subsidize it. During the sixties Canada continued to grow at a slower, more constant rate. People in the country were becoming more educated, and this expanded many non-labor related industries, like business, and research. The economy was steady and productive during the sixties, and Canada continued to grow as a nation. In the 1970 s, the baby boomers came of age, and joined the work force, increasing it by over one third.
This led to increased unemployment, and forced people into early retirement. The Canadian economy was still growing, and expanding to the west. Business had replaced farming by the 1970 s as Canadas main source of revenue, especially in the prairies. The 70 s were when the west began to play a much bigger and important part of the Canadian economy. During the 70 s and energy crises hit North America. Because of this crises oil and gas were im merging as the new big source of income to the prairies.
Canada a prosperous industry in exporting oils to the US, and other countries. Many eastern companies began to move their operations to the west, and soon Alberta, BC and Saskatchewan were business centers in Canada. Canada was also selling huge amount of hydropower to the United States, and making profit of that. Quebec was a region where the economy wasnt doing well. Mostly due to politics, many companies left Quebec, and moved elsewhere. Quebeckers blamed the rest of Canada for their problems.
This eventually led to referendum on Quebec sovereignty in 1980, which ended 60 - 40 in favor of NON. Business in Canada grew, and Canadas cities grew along with it. In the 1070 s urbanization claimed even more people, as the rural population of Canada fell from 60 % to 30 %. Through the oil industry and the expansion of mining and other resource based industries Canada continued to grow as a country in the 70 s.
Pierre Trudeau had made a new constitution, giving Britain less power and the government more. Canada was in the final stages of becoming a self-reliant, and self-governing country. The eighties were a time of hardship for Canadians. Mostly due to poor government, and government overspending, Canada went through a recession in the early and late eighties.
During this time the Canadian government was running the national debt up to astronomical levels, and Canadians were finding themselves out of work. The Canadian economy was slowing down, the government had to introduce a new tax called the GST; to get some added income. IN an effort to ensure that the US remained Canada main consumer of exports the government signed the North American Free Trade Agreement. This eliminated tariffs between the two countries, and encouraged trade.
Although it did help, many people in Canada lost their jobs because Canadian just bought American products. The Recession hit Canadians hard, and the unemployment rate went up. People thought it might be the beginning of the next depression, and the government was blamed for the problems. Technology was taking many jobs away from Canadians, leaving young, uneducated, inexperienced people out of work. The fisheries on the East Coast collapsed in the eighties due to years of over-fishing; the Maritimes were in economic shambles, with hundreds of thousands of people out of work. Many skilled people left Canada to pursue better job opportunities abroad.
Canadians were able to keep the situation under control, so that it didnt get too bad (like the depression), and by the early nineties the economy once again picked up. The eighties were a time of real economic growing pains for a Canada. Canada has had a long road in become a mature economically strong country. Over the years many people have suffered as the county grew into a nation.
Likewise, many people reaped the rewards of such a vast and diverse im merging economy. Canada has made itself into one of the greater economic powers of the world, improving the economy every step of the way. Hopefully the trend will continue for many years to come.
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