The Great Depression in Canada | The Canadian Encyclopedia
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Economists still debate whether a specific event, such as the 1929 Wall Street stock market crash, sparked the Great Depression. However, there is consensus that the Depression was the result of widespread drops in world commodity prices and sudden declines in economic demand and credit. These facto
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- Economists still debate whether a specific event, such as the 1929 Wall Street stock market crash, sparked the Great Depression. However, there is consensus that the Depression was the result of widespread drops in world commodity prices and sudden declines in economic demand and credit. These factors led to rapid declines in global trade and risin...
- By 1933, 30 per cent of the labour force was out of work
- Sixty-six per cent of the rural population was forced onto relief.
- n 1934, Bennett’s government passed the Bank of Canada Act. This established the Bank of Canada in 1935. The bank was charged with regulating monetary policy.
- Monthly relief rates for a family of five varied from $60 in Calgary to $19 in Halifax.
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