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Economics

Economics. By Harman Johal And Karththikan Kugan. The Roaring Twenties. Canada’s Economy in the 1920s. Economy on the Upswing !. By mid 20s, economy turned around After effects of war wearing off Industries kept growing, but maritime provinces benefited least

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Economics

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  1. Economics By Harman Johal And Karththikan Kugan

  2. The Roaring Twenties Canada’s Economy in the 1920s

  3. Economy on the Upswing! • By mid 20s, economy turned around • After effects of war wearing off • Industries kept growing, but maritime provinces benefited least • Oil and HEP growth triumphs over coal usage

  4. Wheat on the Prairies • Huge wheat crops from 1925 – 1928, Europe wanted Canadian wheat • Economy growing with rapidly increasing wheat prices + production • Farmers hiring co-operatives • Co-operatives = businesses owned by farmers, they loaned money to other farmers for lower interest rates than Canadian banks, and didn't need to pay marketers profit • Also helped to find buyers for their grain, cattle, and dairy products • Canada had large share of world trade market • Canadian wheat prices at an all time high in 1929

  5. Pulp and Paper • In 1920s, 2nd largest industry after agriculture • Trees(softwood) being cut down across the nation for newsprint • USA low on pulpwood, they used Canadian pulpwood = boost Canadian economy • Canada is 50% of worlds pulp export • Canada barely has enough pulpwood for our own resources

  6. Pulp and Paper – Side Effects • Forest cut down • Natural beauty of country demolished • More dependant on export of raw materials(wood, fish, mining industry) • Canadian workers leave Canada just to work for America due to this

  7. Hydroelectric Power(HEP) • Quebec and Ontario increased production of HEP in 1920s • Niagara falls used for HEP since 1895 • St. Maurice and Saguenay Rivers used for water power in 1920s • HEP favoured over coal use • People(citizens) wanted HEP for their new home appliances • Canada has 2nd largest output of HEP in the world

  8. Oil and Gas • 1920s a.k.a. “Oil Age!” • More cars in production = more fuel and gas for Canada = BETTER ECONOMY!!! • Oil and gas used for heating and cooking • People looking for new locations of “Black Gold”(oil) • October 1924, the well being drilled exploded into flames • this was in Turner Valley, south of Calgary • Well became an amazing money maker • Millions of barrels of oil, and large quantities of natural gas • Alberta continued to invest into exploration and development of oil resources

  9. Mining • New mining discoveries made in 1920s • Large pockets of copper found in Canadian Shield along the Ontario/Quebec Border, and near northern Manitoba • In 1929, Sudbury, Ontario, producing almost 80% of the world’s nickel supply • In Kimberley, BC, lead and zinc being mined in one of the largest mines in the world • Many of these mining deposits were developed by the financing of America

  10. Thanks for watching!

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