Depression

In the 1930s, the world suffered an economic collapse now known as the Great Depression. It was like a disease that afflicted the entire capitalist world. But it struck Canada more severely than every other capitalist country except the United States. It began in 1929, when the other countries stopped buying Canadian goods. This forced many Canadian industries out of business. Thousands of Canadians lost their jobs. Some lost their homes as well. Nearly every Canadian …showed first 75 words of 507 total…

…showed last 75 words of 507 total…Richard Bennett. Prairie farmers without crops to harvest could not pay the mortgages on their farms. Thus, many of them lost their farms and homes to the banks. Some people did manage to live well during the Great Depression. Those who had money saved could buy items in quantity because prices had dropped. Income taxes were also low. People with stable incomes bought new clothes or cars, and could afford the luxury of passenger trains.