The Great Depression on Canadian Working men

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The 1920s were a time of prosperity and joy but this all ended when the Great Depression hit in 1929. Many countries and their inhabitants were affected by the Great Depression especially the “average” Canadian working man. Through researching the great depression I have come to notice three different effects the depression had on the “average” working man. It affected them financially, because of the rapid price deflation of goods and services which made businesses go bankrupt, employment as the amount of jobs in Canada greatly decreased because of the major layoffs manufacturers had to make because of no income and by the many changes Canadians would have to make just so that they could survive the harsh conditions during the Great Depression During the Great Depression the “average” working man was affected financially because the value of stocks dropped, the price of goods rapidly deflated, and that the wages that most people earned were not enough for people to survive. Before the depression occurred, companies were making more goods than consumers were buying and because of this many employees were laid off and since no one had the money to pay their debts. So to make up for this lost cash everyone wanted to sell their stock and since everyone wanted to sell their stocks and no one wanted to buy stocks the value of stocks fell dramatically, This can be shown in the quote “A panic set in. Soon everyone wanted to sell their stock at the same time,” which shows how people reacted to the large fall in stock value. When the economic collapse occurred this caused the price of goods to rapidly deflate. And because Canada relied on the income of exports, many businesses and manufacturers became bankrupt. This can be shown through the quote “It was estimated back in the thirties that 33% of Canada's Gross National Income came from exports; so the country was also
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