Ordeal by Fire: Canada, 1910-1945

By Ralph Allen | Go to book overview

XXXIV
The market crash and the Depression--King's historic Five-Cent Piece

OCTOBER 29, 1929, is commonly accepted as the date of the end of the boom. This probably is an undeserved compliment to, or criticism of, the world's stock markets.

Unemployment was approaching noticeable, if not critical, proportions as early as September. The world was reaching for such an overdose of economic nationalism that it could scarcely have failed to bring on years of chaos. Herbert Hoover, the real father of the Smoot-Hawley Bill, had failed in his first try to ram his towering tariff wall through the U. S. Congress, but he had declared himself long ago on the principle behind it and he was not to fail on his second attempt.

Nor was Hoover by any means the only enemy of a return to the law of supply and demand and a reasonably natural flow of goods among the nations. The whole world, after exchanging a few pleasantries at the peace conference, had been drifting steadily back to an unabashed policy of dog-eat-dog. As a Canadian Royal Commission put it later: "All the weapons in the arsenal of economic autarchy were brought into play. Weak positions were protected, high-cost producers were kept in production and obsolete equipment was preserved by rising tariffs, import quotas, cartels, government subsidies, 'rationalization,' restriction schemes, stabilization of prices, etc."

Canada, of course, had been tempted by these measures and succumbed at one time or other, and at least in some degree to all of them.

Ironically, just a few months before the market crash the country had embarked on one of its own most disastrous adventures in

-296-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
Ordeal by Fire: Canada, 1910-1945
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 492

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.