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Oil discovery in Turner Valley
On 14 May 1914, people discovered the first natural gas and oil field in Alberta. It has been a major and valuable gas plant in Canada, being a sparkling light in the economy during and after the Great Depression. -
Government sale of war bonds
WWI began and Canada automatically joined the war. Lots of men resigned from their jobs and joined the army. Due to the huge cost, Canada sold government bonds and loans from November 1915. In total, the loans raised to $2377 million, having a huge impact on the living conditions of Canadians. -
Imperial Munition Board
It was established to produce war machinery in 1915 by Britain. Women were hired for the first time, and many factories followed. It was a model of the war economy, leading factories to the right track on war supplies and commodities production. -
Income War Tax Act
WWI put Canada’s economy into a drain. Besides the loans and food control, the government introduced the income war tax. It was the first time for Canadians to pay taxes based on their annual income. After the war, income tax has become a regular payment and continues today. -
Lever Food And Fuel Act 1917
On 19 August 1917, the act was passed into law, controlling food and fuel in the country and ensuring the supplies at warfront. Due to scarcity, the prices of commodities rose. However, most families couldn’t follow the rising price of goods, and the starvation rate increased. -
Winnipeg general strike
From May to June in 1919, more than 30,000 workers left their jobs and joined the strike to block the streets and shut down services in Manitoba, due to the poor living and working conditions. Overall, it was the largest strike in Canadian history. -
Canadian National Railways incorporated
It was incorporated on 6 June 1919, being the longest railway system in North America. Furthermore, it played an important role in industrialization and in the economy, as it connected the markets and created the demand for fuel, iron, steel, etc. -
US branch plant built in Ontario
After the war, timber branch plants from the US were built in Ontario in 1920 and provided lots of jobs. Then, many others were built across the countries which helped Canada’s economy significantly. Those branch plants broadened source industries, dropped unemployment, and advanced the technologies during the 1920s. -
Old Age Pension Act
It was enacted by the federal parliament in 1927, to avoid poverty in retirement. It was the first time for Canadians to help retired citizens financially, which shows a stable economy. Furthermore, the plan continues now. -
Stock Market Crash
The Great Depression followed the American Stock Market Crash, which ravaged the Canadian economy during the 1930s. Life was especially harsh in the Prairies, where drought worsens conditions. Historians and economists claim that it blighted the industrial world during the 1930s.
