HIST 2500 Lecture Notes - Lecture 8: Roaring Twenties, R. B. Bennett, Money Supply
Document Summary
Key points: new york stock market crash (1929, hawley-smoot tariff (1930) Forward to a farm : bennett"s new deal, relief camp workers" union. Economic crisis: greater role of manufacturing- by 1927, manufacturing counted for a greater percentage than agriculture manufacturing exceeds agriculture in terms of its contribution to the economy. Late 1920s, changes cross threshold, becoming the dominant role in the national economy. Increased urbanization- cities became the economic hubs of the country as opposed to the country side. 1921-1931- balance of rural-urban population, according to the census- shifted: change in composition of the workforce- by 1931, less than 21% of canadians were reported working in agriculture- urban industrialized society- rather than rural agriculture. They now experience a prolonged and severe crisis that no one has witnessed since confederation. It was so severe, that people saw it as the collapse of industrial capitalism. They were trying to figure out how to even move away from capitalism.
