POLS 3125 Lecture Notes - Lecture 23: Canadian Prairies, Epicenter, Wall Street Crash Of 1929
20 Dec 2017
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Document Summary
Market instability: positive and negative aspects. Gradual decline in exports: 1917, 37% of gdp, 1921, 24% of gdp. Background: the 1920s: by 1923, economy recovering for som. Wheat boom until 1920: farmers debt-ridden, many farms abandoned. No central bank: bank of montreal carrying out central bank functions, concentration of bank assets into hands of 3 major banks. Increase in taxes to pay for wartime debts. New resources and the american market: the shift in economic dependence: changes in the pattern of destination for canadian exports and changes in the sources of capital imports, capital imports: as percentage of total capital import. Electrical apparatuses (45%), drugs and chemicals (59%), petroleum refining (63%), automobiles (69%). Background: the 1920s: urbanization: economic development and uneven distribution of population. By the end of the decade more people were living in urban areas than rural: uneven regional growth: growing regional disparities. Return to classical federalism (watertight compartment thesis.
