What happened during the Great Depression in Canada?
Source PBS.org “During the economic boom of the “Roaring Twenties” the average American was busy buying automobiles and household appliances, and speculating in the stock market, where big money could be made. Those appliances were bought on credit, however. Although businesses had made huge gains — 65 percent — from the mechanization of manufacturing, the average worker’s wages had only increased 8 percent. The imbalance between the rich and the poor, with 0.1 percent of society earning the same total income as 42 percent, combined with production of more and more goods and rising personal debt, could not be sustained. On Black Tuesday, October 29, 1929, the stock market crashed, triggering the Great Depression, the worst economic collapse in the history of the modern industrial world. It spread from the United States to the rest of the world, lasting from the end of 1929 until the early 1940s.
