What caused the great crash of 1929 quizlet?
(1929)The steep fall in the prices of stocks due to widespread financial panic. It was caused by stock brokers who called in the loans they had made to stock investors. This caused stock prices to fall, and many people lost their entire life savings as many financial institutions went bankrupt.
What were the two main causes of the Great Depression?
Causes of the Great Depression
- The stock market crash of 1929. During the 1920s the U.S. stock market underwent a historic expansion.
- Banking panics and monetary contraction.
- The gold standard.
- Decreased international lending and tariffs.
Why is it important to study the Great Depression?
One reason to study the Great Depression is that it was by far the worst economic catastrophe of the 20th century and, perhaps, the worst in our nation’s history. Further, the Great Depression shows the important roles that money, banks and the stock market play in our economy.
What did Canada learn from the Great Depression?
Few countries were affected as severely as Canada. Widespread losses of jobs and savings transformed the country. The Depression triggered the birth of social welfare and the rise of populist political movements. It also led the government to take a more activist role in the economy.
How long did the depression last in Canada?
It ended as dramatically a decade later on September 3, 1939, when the Second World War began. The widespread poverty and suffering during the 1930s—the result of unemployment, drought and lack of a social safety net—transformed social welfare in Canada.
How did immigrants affect the Great Depression?
The crisis itself had served to stifle foreign immigration, but such restrictive and exclusionary actions in the first years of the Depression intensified its effects. The number of European visas issued fell roughly 60 percent while deportations dramatically increased.