Bennett Buggy

On Tuesday, October 29, 1929, the New York Stock Exchange collapsed.

 OVERPRODUCTION  1920s = good times. Stockpiles = Layoffs  ECONOMIC DEPENDENCE ON EXPORTS  Can. = raw resouces => prices dropped, competition rose & we sufferred. (wheat & newsprint #1)  TARIFFS & U.S. PROTECTIONISM  U.S = Canada’s #1 trade partner.  When makets died tariffs rose.  DEBT FROM WW I  U.S. called back loans => Fr. & Brt. relied on Germ reparations => Germ. Couldn’t pay => protectionism grew => vicious cycle.  SPECULATION & THE STOCK MARKET CRASH  Speculators in the 1920s were buying on ‘ margin.’  Stock market crashed & loans couldn’t be paid.  FALLING OFF THE ECONOMIC EDGE  Protectionism, loans, layoffs, the crash. All result in people with no $ to buy goods.

On Tuesday, October 29, 1929, the New York Stock Exchange collapsed.

 DROUGHT ON THE PRAIRIES  One crop farming, 8 yr. drought, winds / dust storms, grasshoppers => abondoned farms.  UNEMPLOYMENT  “Pogey / The Dole,” – like welfare, humiliating, evicted, vouchers,  ‘Riding the Rails’ – shanty towns / jungles, hope????  DISADVANTAGED  Urbanites received more $ than rural as assumed rural = animals.  New Canadians – 1920s = immigration => 1930 = deported  Racism – Chinese = no relief, anti-semitism, aboriginals = less $.  Women – fired or forced retirement, no relief. Life for the wealthy could actually improve due to deflation. (supply & demand) THE WEALTHY

 THE GOVERNMENT’S RESPONSE  Unemployment Relief Act – $20 million for make work projects.  Tariffs, relief, soup kitchens, work camps (20 cents a day)  Prairie Farm Rehabilitation Act – better irrigation.  Red Scare – outlawed communism  THE ON-TO-OTTAWA-TREK  In 1935, over 1000 men headed from B.C. to Ottawa.  Stopped in Regina / Regina Riot.  TROUBLE IN VANCOUVER  Sit –ins when relief camps closed. THE NEW DEALS Too Little, Too Late???? ROOSEVELT’S NEW DEAL -U.S. president = public work programs - Social Security Act (pension, UI, Mom & child $. -U.S. spent billions to get economy rolling. - didn’t end depression but helped many BENNETT’S NEW DEAL -Revised a fairer tax system. -Workers insurance (illness, injury, UI) - helped workers (hours, wages, conditions) - pensions -Created Can. Wheat Board – regulate wheat prices Vancouver ‘Sit-ins’ ON-TO-OTTAWA-TREK

Liberal - King “I would not give a five cent piece to a Conservative government” Conservative - Bennett “ One of the greatest assets a man can have on entering life’s struggles is poverty.” ‘Bennett Blanket’ ‘Bennett Buggy’ ‘Bennett Barnyard’ Bennett’s One-man Show King: The People Pleaser

CCF – The Co-operative Commonwealth Federation -First Socialist party founded by the prairies in Believed capitalism = inequality & greed. (caused depression) -Regina Manifesto – public ownership, social programs, spend $ to help economy. SOCIAL CREDIT PARTY - A western party that believed capitalism = hoarding. - Gov’t should release this $ into the economy => SPEND!! (Gov’t = $25/mo./person for necessities) - Prairie support as depression devastated the area. J.S. WOODSWORTH UNION NATIONALE - Supported Quebec nationalism. - rural Catholic support. - blamed problems on English minority in Quebec. - believed in social insurance, work cond., farm credits MAURICE DUPLESSIS “BIBLE BILL” ABERHART SOCIALISM: PROs & CONs Total Income $ SpentProblem Rowell-Sirois Report Commission = Equalization Payments ‘Haves’ vs. ‘Have Nots’ The Wealthy ‘hated’ By the time it was implemented the economy was changing. Today?????

 GERMANY  Hated Treaty of Versailles  War Guilt Clause, $32 billion in reparations, printed $, inflation. -The west tried to make payments easier. - Germany still could not meet payments.  ASIA  Japan hit hard by tariffs.  Keynesian economics – gov’t $ to help.  Invade China for much needed resources.  RUSSIA  1917 = Bolshevik Revolution => U.S.S.R.  Appeared to work during depression  => people questioned capitalism.  Stalin = dictator  policies = millions of deaths. U.S. gave Germany money & later lowered payments but recalled these loans when depression hit. TO DO p. 115 #1-4 Key Terms

Introduction => 20s /Overview Socially => ___________ ___________ __________ Economically =>___________ ___________ _________ Politically => ___________ ___________ __________ Conclusion=> World / WW II

Introduction => Thesis Statement (3) __________________________________________ Socially => ___________ ___________ __________ __________ ____________ Economically =>___________ ___________ _________ __________ ____________ Politically => ___________ ___________ __________ _________ __________ ___________ Conclusion=> One complete summary statement that ties in WW II. (3) ______________________