Depression

Causes of the big(p) Depression There were a variety of problems that led up to the great Depression. Very few people saw the Great Depression coming. The politicians had been to caught up in the long run of successfulness in the 1920s. An early sign that depression was coming was the place of descent market crash on October 29, 1929. Prime rector ability thought that the well-worn market crash would just be a temporary setback for the Canadian economy. Stockholders had wooly more(prenominal) indeed 40 billion dollars. The stock market began to distinguish out some of its losses, but it wasnt enough. Canada was well cognise for on that point resources, in particular pale yellow, slop and paper. Farmers would produce large supplies of wheat with the intention of easily merchandising it because of prosperity. Other countries felt the stock market crash and were hesitating of buying supplies from other countries, in particular America, Canadas bod one buy er. In the 1930s Canada suffered drouth conditions. This caused farmers to have a bad time producing food and in any case nonrecreational taxes, which led to farms being closed down. Drought conditions were non the only cause for slow trade between countries.

The American government created the Smoot- Hawley responsibility to help American companies. This charged gritty taxes for imports, which lead to slight trade between Canada and the U.S. Bank failures were likewise a resolve that caused a break in the prosperity cycle. Throughout the 1930s over 9000 banks failed. Bank deposits were uninsur ed so when the bank would go bankrupt people! lost their savings that they had in the bank. This then led the customers that lost their money to be very starchy with their money. Because the businesses were not making money, companies had to lay discharge thousands of workers because of the depression.If you want to besot a full essay, order it on our website: OrderCustomPaper.com

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