The Great Depression in Canada's Economy

             Few countries were so severely affected as.

             Canada was by the depression of the 1930's.

             that time at least a third of the labor force.

             became unemployed and many Canadians depended on.

             welfare for survival. Canada, which was rich with.

             raw materials, had become a great trading nation.

             That trade depended heavily on a strong world.

             economy to buy the exports. The collapse in world.

             trade hit Canada and particularly the West hard. .

             To add to the effects of a bad economy,.

             Saskatchewan was plagued by crop failures and.

             devastatingly low crop prices. .

             Leading up to the great depression, times were.

             quite favorable. In fact world economy was.

             booming. Western farm crops were productive. .

             Mining, fishing and lumbering flourished. .

             Manufacturing was at capacity and employment was.

             steady. Stock prices were at all-time highs and.

             prosperity was evident everywhere. The living was.

             easy and the future appeared hopeful. New homes.

             and new cars became common to ordinary folk.

             In October, 1929, all black clouds met in.

             one place, the New York Stock Exchange, and the.

             thunderbolt struck. Stock prices fell.

             disastrously, a sign that the American economic.

             system was failing. In the United States and.

             Canada things were never to be the same again. .

             Very shortly the stock market's Domino Effect.

             caused Canada's stock markets to collapse. The.

             confidence that people had in a government of.

             Bennett and King was soon shaken. Bennett and King .

             had always believed that a balanced budget and a.

             sound dollar would allow the marketplace to.

             flourish and full employment to follow. This was.

             not to be. At least 33 percent of the workforce in.

             Saskatchewan was agricultural in 1931. The economy.

             was not diversified. When the prairie wheat.

             economy collapsed farmers could barely get 38 cents.

             per bushel for the same grain that was worth $1.60.

             just a year or two earlier. Canada, like the rest.

             of the world was deep into the worst depression in.

             history. Saskatchewan's provincial income.

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