worked such long hours that they were living in a state close to slavery.
By 1931, more than a quarter of the work force was unemployed. Also, many.
Canadians had decided to leave their homes and travel around the country.
looking for jobs (Brown, L. 1987). In addition, wages and prices dropped.
throughout the 1930's, making it difficult for the unemployed and small.
businessmen to buy the goods needed to help them get through their daily.
lives. Therefore, tens of thousands of people were dependent on government.
relief, charity and food handouts for daily survival. However, the people.
that did not qualify for relief ended up starving. Even two years prior to.
the stock market crash, there were serious economic concerns ("The Dirty.
Thirties", n.d.). As the Great Depression caused massive unemployment in.
Canada, it also deeply impacted Canadian businesses and foreign trade.
.
The Great Depression devastated many businesses in Canada as well as.
impacted foreign trade. Many businesses in Canada went bankrupt as a result.
of the stock market crash (Mooney, E. 2006). Consequently, companies had.
vanished as the demand for goods and services and the value for stocks had.
dropped. However, those businesses that managed to survive had to lower.
prices, lay off workers, and reduce wages. Also, Canada's economy was.
greatly affected by the collapse of world trade. The Great Depression led.
to a sharp decrease in foreign trade as Canada tried to protect its own.
industries and products by raising tariffs on imported goods. However,.
other countries also raised their tariffs on imports and this resulted in.
less trade and fewer sales. The worldwide demand for Canadian goods began.
to fall in 1929. Therefore, attempts to protect the Canadian economy by.
raising tariffs and prices on imports reduced its trade with other.
countries during the Great Depression. It is also estimated that the gross.
national product in Canada had dropped by more than 48% by 1933.
