Let's Talk About Money!
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Conditions of Wealth at the End of the War
1. The industry is changing. People don't need to make money off of war supplies or weapons as much anymore. People now need to focus on living and being Canadian.
(Causes a shift in demand for things) 2. Canadian soldiers were coming back from the war and they all need jobs. (Unemployment rate rises due to the influx of soldiers back in the country) 3. Business owners weren't making enough money so they reduced wages/hours. |
Photo Credits: Library and Archives Canada, C-002468
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4. Then you have these guys....
Remember him? Colonel Sam Hughes, who was responsible for the crappy Ross Rifle gun in WWI and made millions of dollars? Needless to say, people want to make money and become rich. |
How do you "Beat the Rich"?
Rise of Communism/ Red Scare
A quick way to redistribute wealth is through the idea of communism.
This idea gained a lot of traction after the First World War in countries around the world because it's quick and through "legal" means to help solve their issues. However, for those that leaned on this belief, it comes with many other restrictions. (You can never privately own anything anymore. You can never "get rich". etc.) Canada, fortunately, never went that route. However, it did inspire people to do something about the labour market and change the mechanics of the economy to help people make money again. |
Go on Strike
One of the most famous strikes that happened in Canadian history is called the Winnipeg General Strike of 1919.
Results:
Later on, the workers got their needs heard and some well known people from the strike, such as J.S. Woodsworth, went on to influence government via social reform. J.S. Woodsworth found the current New Democratic Party.
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New Market = New Focus
Canada invented insulin in the early 1920s to tackle diabetes.
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Motion pictures were invented in the 1920s and became a success in both Canada and the United States
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There was an art movement that brought to fame Canadian landscape painters called the Group of Seven.
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New Rival
- American investors that entered the Canadian market didn't lend money to Canadian businesses.
- They came up with establishing "branch plants" in Canada that made goods for Canadians without having to pay any taxes off the money that they made.
- Canadians still made money by exporting raw materials to Americans, but the Americans made a lot more off of Canadians in the long run.
The Demise: Stock Market Crash of 1929
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Works Cited
Cranny, Michael William, and Garvin Moles. Counterpoints: Exploring Canadian Issues. Pearson, 2010.