Preview

What Was The Role Of The Economy In The 1920s

Good Essays
Open Document
Open Document
420 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
What Was The Role Of The Economy In The 1920s
After First World War ended soldiers returned home with no jobs and found that the cost if living had risen. However, as industry became more efficient, assembly lines products could be manufactured with the development of quicker and for less money, and the Canadian demand for products grew. The economy started to boom, all due to jobs, price cuts and manufacturing opportunity.
The 1920s saw the development of the car industry. Industries developed mass production during the 1920s products could turn out more quickly for less money, this changes of manufacturing process meant that cars and trucks could produce more cheaply. As price dropped, more people could afford them. By 1927, Ford Company sold over 15 million Model T’s internationally, Vehicle in Canada jumped from 300,000 in 1918 to 1.9 million in 1929 in Canada. Henry Ford wanted to make a cheap car that almost anyone could afford to buy. Automobiles had the highest influence on the public and economic life for Canadians.
…show more content…
Canadian economy benefited from the U.S economy, U.S needed Canada’s natural resources. In 1913, Canadian newspaper printmaking was less than 20% of U.S. production, but by 1925 it had beaten the last. By 1939, it was 3.5 times as large. Newsprint production, which was less than 300,000 tons in 1913, it reached more than 3,600,000 tons by 1937. Most of Canada’s economy benefited from the trade especially from the U.S and Canadians wanted the trade to continue with U.S. Over time, Canada’s trade is still increasing and it’s regularly done with the

You May Also Find These Documents Helpful

  • Good Essays

    It allowed workers not to learn skills, but only learn to fix one specific part. At the same time, car industries created a lot of jobs in factories that supplied parts. By 1925, a car was produced every 10 seconds, and almost 500,000 workers were employed. In short, the 1920’s saw the revival of a second industrial revolution in consumer goods, where investors enjoyed great profit while also raising the living standard of most of the…

    • 739 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The 1920s was widely-known as the age of prosperity. With the economy booming, daily life was much easier and more enjoyable because of new technological advances and emerging forms of entertainment. The development of cars, both negatively and positively impacted America. The influx of automobile ownership was very demanding and became a part of everyday life. Henry Ford’s contribution to the auto industry revolutionized society and bettered the economy. Autos gave people more freedom, expanded social interaction, paved roads and traffic lights, created jobs, and etc. Even though the positive effects seem to outweigh the negative impact, it’s necessary to take into consideration the cons cars have. Car accidents, rebellious behavior, and pollutions…

    • 1103 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Explain why the American economy expanded so much and so fast between 1890 and 1920.…

    • 626 Words
    • 3 Pages
    Good Essays
  • Good Essays

    One of the most economically prosperous time periods in American history is the 1920’s, also known as the Roaring 20’s. This economic upturn occurred shortly after the conclusion of World War I and the short recession that followed the war. Some industries flourished during this time while farming became a cancer to the economy. To help the plight of the American farmer congress did as much as it could in passing legislative bills like the Emergency Tariff of 1921, the Fordney-McCumber Tariff of 1922, the Capper-Volstead Act of 1922, and the Agricultural Marketing Act of 1929.…

    • 1560 Words
    • 7 Pages
    Good Essays
  • Better Essays

    Although automobiles existed before Henry Ford created his model, he was still a great influence on the country. Ford Motor Company was established in 1905 and "by 1929, half of all Americans owned a car" (Foner, 612). One of the most important thing that Ford had done was adopt the moving assembly line in 1913. This contributed to more people owning cars, which in turn stimulated the economy and increased the need for supplies. Spurring consumerism within the nation, Henry Ford and the automobile were great for a number of things in the economy.…

    • 1372 Words
    • 6 Pages
    Better Essays
  • Good Essays

    The American economy and its culture changed dramatically during the 1920’s and 1930’s due to many factors, including the Great Depression. The Depression itself, among other elements such as consumerism, national debt overload and the 1930 Banking Crisis all played an invaluable part in the change and sheds light on how America’s economy is run today. The first of these changes after the Depression was the New Deal. In the 1920’s, American banks were privately run, with the money from their clients inducted into the stock market in order to ensure that it continued to run smoothly; this was done without the knowledge of customers.…

    • 1108 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    The 1920s were happy and prosperous times for Canada. This time period was an era of innovation and discovery, economic growth, and independence. Many things were invented in the 1920s including the telephone, car, and radio, which shrank distances. The radio brought people together and broadcast stories and information across the country. Cars “helped people move out of the city and live farther away” (Inventions).…

    • 294 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Treaty of Ghent

    • 768 Words
    • 4 Pages

    America didn’t do much, but Britain and Canada took action early by taking control over the American fort of Michilimackinac.…

    • 768 Words
    • 4 Pages
    Good Essays
  • Good Essays

    The economy of the 1920’s was very strong with the new technology, and innovation that was being created. Products like washing machines were being replaced with new electric versions thanks to the innovation that was created in the period (Hundey, 111). Since most Canadians had electricity by moving into the city, the economy grew drastically (Hundey, 111). Not only did more Canadians have electricity, more and more Canadians had money from the new jobs created for production of these products, to buy electric products for themselves.…

    • 822 Words
    • 4 Pages
    Good Essays
  • Good Essays

    In the early decades of the twentieth century, Canada went through significant changes. A lot of trends and inventions became known in these years that are still relevant today. Many changes were made on the provinces and laws that helped shape Canada into the country it is now. Canada went through much social change in these years also, from medical inventions to new entertainment to the rights of its citizens. Not only the laws, but provinces and people faced much positive change in this time. Finally, many Canadian inventions helped improve the economy, especially in the “roaring twenties”. Therefore, the 1900s to 1930s were prosperous years for Canada socially, politically, and economically among war and debt.…

    • 469 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Many people began working in factories in cities due to the job demand needed for mass production. Mass production was a cheaper form of manufacturing goods because it relied on work from unskilled workers, whom could be paid less than skilled artisans. Due to the reduced price of the assembly of goods, more Americans were able to buy the goods. For example, mass production of Henry Ford's automobiles resulted in many Americans being able to afford cars. This cycle of buying and selling boosted the economy and revolutionized the factory industry due to the success of mass production.…

    • 581 Words
    • 3 Pages
    Good Essays
  • Good Essays

    1920s Popular Culture

    • 519 Words
    • 3 Pages

    In the 1920s America began to export their media to the rest of the world. Jazz was a new form of music in the world, and it applied to young adults who were in their twenties during the roaring twenties. This music began to be exported to other parts of the world. Also Ford had just come out with new and improved automobiles. Almost every family in America had at least one Model T in their driveway. Ford used the idea of an assembly line for automobile manufacturing, making him more profitable. The assembly line made making these cars easier and fast to make. There were about 23 million…

    • 519 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Economically speaking, Canada had an increase in employment and the economy started to improve financially. Jobs were set up, and new projects were financed. (Bain, pg. 217). Consumer demand also rose, as lots of new people were born. In search for a better quality of life, many Canadians would demand massive, stylish ranges to suit the large kitchens of suburban bungalows. High performance, and ease in use and cleaning were other popular attributes, and all these factors led manufacturers to offer a variety of models that would be purchased by consumers to enhance both lifestyle and social status. (The Collection, 2014). Canada improved economically due to the baby boom since consumerism exploded. Demands of services and products rose massively.…

    • 334 Words
    • 1 Page
    Good Essays
  • Good Essays

    Klondike Gold Rush

    • 803 Words
    • 3 Pages

    K L O N D I K E G O L D RU S H…

    • 803 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    During the Great Depression of the 1930's, Canada's Prairie provinces suffered more than any other area in Canada. This time frame brought for the farmers many years of droughts and grasshopper plagues, as each year got worse without any rainfall whatsoever. The impact of the Great Depression on the Prairie provinces was devastating and it's impact on the region was social, political and economical. During this period unemployment reached high levels, prices of products were falling and purchasing power was getting very weak. To try to help out unemployed people, mostly men, the government introduced relief camps. During the 1930's in Prairie Canada, the Great Depression created harsh conditions and it was a struggle until it ended. The event which triggered the Great Depression was the Stock Market crash of October 24, 1929 in New York. Another important cause was that: Later in the 1930's, the wide adoption of the gold exchange in many countries was widely criticized as a great mistake which greatly contributed to the severity and length of the Great Depression. 1 In Canada, wheat, the most important export, was being over-produced around the world, despite the fact that the 1928 supply of wheat was still available in 1929. A good reason for the stock market crash in 1929 was that, the values of stocks of the New York Stock Exchange were grossly over-valued, but government and business appeared to ignore the signs. 2 Canadian revenues that came in from export sales were dependent largely upon the United States who had the money for growth; the commodities were grain, pulp and paper and metals. Then when the New York crashed on October 1929, stock prices fell dramatically. When the stock market crashed, the Canadian economy suffered after the United States invoked high tariffs to shut out Canadian goods. In the Prairie provinces of Canada, in addition to economic depression was the effect of the nine years of drought and crop failures. When the Great Depression…

    • 2887 Words
    • 7 Pages
    Powerful Essays