Nirja. S
CHC2D5
History
Economics: How it impacted Canada after World War I
For Canada, the First World War is rightly seen as a transformative time and as a ‘coming
of age’ for the country. The change in the economy was a mixed bag of emotions for many
Canadians. On the one hand, women 's jobs were rising, and they were almost starting to be seen
as equal to men. It gave rise to the development of the industrial revolution. Women’s voting
rights were just established, empowering women across Canada, and in turn, more women were
seen at work, improving the economic status of Canada. However, with the large debt and
burden on the government’s shoulders, the average population was exploited into paying a
tremendous amount of tax. Undoubtedly, after World War one, there were many political and
social influences on Canada, but I firmly believe that Canada's rapidly swelling economy was
one of the most critical and significant aspects that affected Canada. The economic debt of
Canada, also contributed to the many hardships faced by Canadians during this period.
The 1920s was a very volatile time. Debt before the first world war was standing at an
approximate of $94 million. After the War, the debt was pushed to a total of $2.4 billion. WWI
and the great depression were a very unstable time to live in. Things were unpredictable. Fear
of losing everything was an integral part of living during that era. Railway worker jobs were
threatened as “50,000 railway employees lost their jobs between 1914 and 1915 because of
Canada's railway debt" and "Canada had to pay $164 million a year because of the war to pay off
their debt." In terms of destruction and lost production, the economic costs of the war were
enormous. This led to the government financing the debt by taxing. This caused stress on the
workers and their families as sometimes they wouldn’t even have enough money to pay for rent
or let alone food. By putting redundant tax into the equation, the government was placing
irrational pressure on the citizens. It pushed up interest rates for loans, leading to a poorly
invested economy. It would impact economic stability, lead to stock market crashes and
unexpected homelessness.
The entry of Canada into the war forced millions of men to leave behind their families to
fight in the military. Women were mainly housewives subsequent to WWI. However, Due to the
social and economic changes, they were allowed to work as a way to cope with labour shortage.
This made many women extremely happy, as they were finally getting the recognition they
deserved. The economic status allowed women to take over the 'men's jobs'. Women began to
become more independent and 'Self sufficient’. They took on roles that they had never taken on
before. Although the government decided that this arrangement would be temporary, it actually
continued. Women were forced to leave their jobs once they got married. This was opposed by
many women, but their efforts were to no vain at the time. They also got the right to vote, which
was a significant improvement at the time (although the motivation behind that move was
corrupt). After the selfless efforts that women made during the War, no one could claim
CHC2D5
History
Economics: How it impacted Canada after World War I
For Canada, the First World War is rightly seen as a transformative time and as a ‘coming
of age’ for the country. The change in the economy was a mixed bag of emotions for many
Canadians. On the one hand, women 's jobs were rising, and they were almost starting to be seen
as equal to men. It gave rise to the development of the industrial revolution. Women’s voting
rights were just established, empowering women across Canada, and in turn, more women were
seen at work, improving the economic status of Canada. However, with the large debt and
burden on the government’s shoulders, the average population was exploited into paying a
tremendous amount of tax. Undoubtedly, after World War one, there were many political and
social influences on Canada, but I firmly believe that Canada's rapidly swelling economy was
one of the most critical and significant aspects that affected Canada. The economic debt of
Canada, also contributed to the many hardships faced by Canadians during this period.
The 1920s was a very volatile time. Debt before the first world war was standing at an
approximate of $94 million. After the War, the debt was pushed to a total of $2.4 billion. WWI
and the great depression were a very unstable time to live in. Things were unpredictable. Fear
of losing everything was an integral part of living during that era. Railway worker jobs were
threatened as “50,000 railway employees lost their jobs between 1914 and 1915 because of
Canada's railway debt" and "Canada had to pay $164 million a year because of the war to pay off
their debt." In terms of destruction and lost production, the economic costs of the war were
enormous. This led to the government financing the debt by taxing. This caused stress on the
workers and their families as sometimes they wouldn’t even have enough money to pay for rent
or let alone food. By putting redundant tax into the equation, the government was placing
irrational pressure on the citizens. It pushed up interest rates for loans, leading to a poorly
invested economy. It would impact economic stability, lead to stock market crashes and
unexpected homelessness.
The entry of Canada into the war forced millions of men to leave behind their families to
fight in the military. Women were mainly housewives subsequent to WWI. However, Due to the
social and economic changes, they were allowed to work as a way to cope with labour shortage.
This made many women extremely happy, as they were finally getting the recognition they
deserved. The economic status allowed women to take over the 'men's jobs'. Women began to
become more independent and 'Self sufficient’. They took on roles that they had never taken on
before. Although the government decided that this arrangement would be temporary, it actually
continued. Women were forced to leave their jobs once they got married. This was opposed by
many women, but their efforts were to no vain at the time. They also got the right to vote, which
was a significant improvement at the time (although the motivation behind that move was
corrupt). After the selfless efforts that women made during the War, no one could claim
