1. An Age of Prosperity The Roaring 20’s

2. After WW1 During the war, industry had grown greatly Canada had supplied shells to the western front Ships were built and maintained for the Atlantic convoys The steel industry boomed Soldiers needed boots, clothes, blankets. Many factory owners became wealthy. Farmers grew more wheat.

3. After WW1 Because of the great demand, prices had risen The soldiers found goods cost nearly twice as they had in 1913 Wages had risen during the war, but only about 18%. They could not keep up with the prices After the war, factories were closing or cutting back. The jobs that remained were already filled and there was no need to hire ex-soldiers The number of trade union members had doubled during the war. Unions were preparing to demand higher wages and better conditions One Big Union formed. Winnipeg strike was the first test

4. Prohibition The ban on the sale of alcohol Officially the ban was part of the war effort The grain used to make alcohol could be used for food instead People expected there would be social benefits from the ban. They thought family life would improve

5. Prohibition For a few years after the war, prohibition was in force in every province Prohibition did not work. Bootlegging – making and selling liquor illegally By 1924 most provinces decided liquor control was better than liquor ban. The government could make money from the liquor taxes

6. The 18th Amendment The 18th Amendment to the U.S. Constitution banned the manufacture, sale, and transportation of alcohol Quebec was the 1st province to get rid of prohibition. Many people from the USA started to take the train to Montreal on weekends for entertainment

7. Montreal In the 1920’s, black musicians and dancers became very popular around the world. Louis Armstrong was the most popular musician amongst white and black fans. Because of prohibition in the USA, popular black entertainers started to perform in Montreal. Montreal was then referred to as “Little Harlem” or “The Canadian Harlem”

8. The Boom Years Early 1920s, businesses started to make profits and jobs were available again This time is called the Roaring Twenties People wanted to invest in the future. They bought shares on the stock market

9. The Stock Market In the 20th century, businesses were too big to be owned by one person. Big companies financed themselves by selling shares on the stock market The price of shares was determined by supply and demand. If a lot of people wanted to buy, the price was high. If more wanted to sell, the price was dropped

10. The Stock Market Daring investor took risks. They bought “on margin.” They paid the stock broker 10% or 15% of the price of the shares. Later, when the price had risen, they sold. They then could pay the stock broker and still make a profit. The stock broker would make a margin call if the stock fell and the investor would have to pay all money owned. 1929, the stock market had reached its peak.