history 1920's economically roaring?
why was there an economic slump in canada after the war
war supplies and munitions no longer needed
why did the economy pick up in the 1920's
-new industries like cars and more consumership
-more factories and manufacturing
why were canadians buying more in the 1920's
mass advertising (print and radio)
new products like electric appliances and access to electricity in cities
increased wages because more people living in cities working in factories
could buy on lay a way
how did canadian trading relationships change in the 1920's
stronger trade links with US
less trading with Britain
what was buying on lay a way
-you could buy things over time
-10% deposit then regular payments until paid for
why was living in cities life changing
-worked in factories or services instead of on farm
-had access to cultural and leisure activities
-wages meant more money to buy things
-things to buy were more available
-in house electricity to run new electric appliances so easier lifestyle
-cars so increased mobility
what happened in the coal industry in nova scotia in the 1920's
-oil being used more than coal
-british empire steel cooperation (BESCO) bought most of coal mines
-then reduced wages, laid off workers, closed mines
-workers went on strike (1925)
in what areas was there economic growth
-tires, newsprint, cars, rubber
-raw materials like nickel, fur, coal, wheat
what minerals were mined in record amounts for export
coal (but decreased by 1930), nickel to harden steel for cars, aircraft
what canadian resources were impotant to US
-raw materials for industry
-mining and forest products such as pulp and paper, newprint, metal for cars and radios, lead, zinc, copper for radios and home appliances
what were branch plants
-when US companies built or bought factories in canada to get around tarriffs on goods imported from US to canada
-this increased US canada trade / decreased british trade
how did US enrich candian economy
-invested in pulp and paper mills and mines
-imported raw materials for industry
-imported 75%of our newsprint
-most metals mined in canada were used in US cars and radios
how did US benefit more than canada from american ownership of canadian businesses
-they didn't have to pay tariffs to import to canada because products made in canada
-got better tarif rates when trading with other british colonies if products made in canada
-although the extracting and harvesting of raw materials was good for canadian economy they were processed and used for manufacturing in the US
what happened on october 29, 1929
black tuesday
-the stock market crashed