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Underlying Causes of the Great Depression
• over-production and over- expansion• high tariffs killed international trade• dependence on too few primary products • only natural resources for
export
Underlying Causes continued
• Low standard of living for many – not everyone prospered in the 1920’s
• Canadians and businesses overly optimistic about the future
• Overuse of credit – buy now, pay later
• Stocks bought on margin (credit)
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Immediate Causes - Stock Market Crash
Immediate Causes – Drought/Dustbowl
• On top of dropping prices and increasing costs, farmers faced droughts for 10 years which resulted in dustbowl storms
• This is one of the reasons for the decade being called “The Dirty Thirties”
Dustbowls
• Not rotating crops also contributed to dustbowls
• Farmers only planted wheat because that was what earned them the most
• But,
• Wheat erodes the top of the soil and in dry conditions, the soil blows away in a dust storm
Impact of Great Depression
• This iconic image is of a migrant farm worker and mother in the U.S.
• What is the impact of the Great Depression on her and her family?
What about impact on Immigrants?
• “In my search for employment I was free to range the whole of commercial Winnipeg and nobody denied me a job from any ulterior motive. This did not hold for the Ukrainians, Poles, and Jews. … As much as two-thirds of it (Winnipeg) was barred and bolted against them.”