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1950s: Economic Change & Canada/U.S relations
Transcript of 1950s: Economic Change & Canada/U.S relations
By Sam Sidhu and Priya Grewal
After the war Canada experienced an economic boom because of the discovery of the oil and mining companies.
All the mega projects that were started in the 1950s helped the economy to flourish, and this was much needed because the "Great Depression" had left a deep scar
Us investment in Canada helped expand the economy and make us somewhat stronger
The branch plants and the auto pact in Canada also benefited the economy by providing employment to Canadians
Before: Returning Veterans
After WW1, the returning veterans had a very difficult time
soldiers wanted more money than what was given to them in form of pensions etc
soldiers had a difficult time adjusting to normal lives after the many horrors of war
they had to look for jobs to support themselves
many came back to find their loved ones dead
The programs that were set up really effected and helped the soldiers because unlike last time
the soldiers actually had some support from their country
The Canadian government set up many programs to help these soldiers out and get them back into their normal routines
This was really important for Canada because this showed that the government did really care about the people of their country
They had matured and would not be making the same mistake as last time
Canadians learned that the government was always available to help those in need
The soldiers felt very fortunate of the programs offered by the Canadian government for not many other countries offered these
After: Returning Veterans
To avoid any chaos this time, after WW2 the Canadian government did as much as they could to help the soldiers
Canadian govt. forced companies to hire back returning veterans on favorable terms
provided veterans with educational allowances
low-interest loans so they could obtain any necessary retraining
low interest loans so that they could purchase homes
In 1944, the Canadian govt. set up the Department of Veteran Affairs to help with the transition from life on the front lines to life on the home fronts
After WW2, the country was finally out of depression In 1950, Canada financed and started many new projects such as the
St. Laurence Seaway
Atomic Energy Canada
The Trans-Canada highway is a paved road stretching 7,821 kilometers and the endpoints are Victoria, British Columbia and St. John’s, Newfoundland
Joins all ten Canadian provinces
Needed because of the increased use of automobile for transportation
World’s largest national highway
Demonstrated new era of prosperity (successful, flourishing, good fortune)
Building the highway was very important to the people and the country because
traveling on the highway decreased travel time and it was becoming more and more important to connect all 10 of the provinces.
The highway had an impact on the whole country because due to it, their economy was booming more then ever and this was much needed because the "Great Depression" had left the country and the people very weak and without any money
The highway allowed Canada's abundant natural resources to be shipped across the country and it also brought in many tourists who wanted to see the highway.
Atomic Energy Canada
The Atomic Energy Canada,Canadian federal Crown corporation, was founded in 1952
It was made to explore the use of nuclear energy for peaceful purposes
Atomic Energy Canada created the CANDU nuclear reactor in 1952
The CANDU is a pressurized heavy water reactor used for generating electric power
The CANDU was intended to be used for the safe and efficient production of electricity
These reactors were exported around the world and Canada made a profit out of them
The Toronto Subway was Canada’s first subway system built in 1954 and many Canadians watched with awe
The Toronto Subway was first constructed in Toronto due to its overwhelming traffic
This was very important to Canada and the people because the subway was a shining beacon of the optimism and growth of the post-war age
It showed that the country was prospering and developing and coming up with new projects that were going to make Canadian lives just a little bit easier
This also helped many people that were unemployed find jobs because many people were needed for construction
Another factor of the subway that was important to the people is that it helped many artists display their artwork and helped musicians earn a couple dollars performing
St Lawrence Seaway
The Saint Lawrence Seaway is the common name for a system of locks, canals and channels that permit ocean-going vessels to travel from the Atlantic Ocean to the Great Lakes
It would link the center of the continent via the Great lakes to the Atlantic Ocean
Ocean going vessels would now be able to go as far as Thunder Bay(Ontario) in Canada and Duluth(Minnesota) in the United States
This project meant Canadian products could move to world market
The completed seaway was akin (similar to) to a gigantic zipper pulling together Canada and the United States, as it accelerated the economic, trade, and defense integration of the two North American countries
Importance of the Seaway
The Seaway was important to both Canada and the USA because it helped to prosper and develop both countries
The Seaway system served 40% of US manufacturing, and half of the production of US soybeans and corn
In Canada, the Seaway accounted for 2/3 of the nation's industrial output, and created 1/3 of the country's gross national product.
Due to the seaway, both economies were booming
Also, this passage helped bring the two countries closer together because they both knew that this project required a lot of cooperation and that if it were to happen, both countries would benefit
Transportation by sea has always been around since the early ages, so transporting by sea was not new. But because of the Seaway,it was quicker and more efficient to trade with other countries
After the war, Canada experienced dramatic growth in both its mining and oil industries
Imperial Oil discovered the Leduc oil field near Edmonton
First major oil field developed in Alberta turned Alberta into the strongest provincial economy
Only problem was that they couldn't figure out how to get it from Alberta to potential users in Eastern Canada
House of Commons passed the bill for the pipeline to transport the oil using the trans-continental pipeline
The coal industry provided the most important energy source to fuel expanding rail and steamship networks, and heat homes in Canada’s rapidly growing cities
Mining for coal was one of the most popular things back then but after the Second World War, Canadian coal production declined from just over 17 million tonnes in 1949
During 1947, the government lifted the ban on uranium mining causing the industry to boom in the 1950's
At the end of 1950, more than 23 mines were in operation.
It yielded in more than $330 million in export revenue.
By 1960, Canadian Pacific Railway and Canadian National Railways had completed their conversion from coal-powered locomotives to diesel electric ones.
This represented a major blow to the coal industry, as the railways had always been the most significant steam coal customer.
Due to the dramatic loss of markets, many mines closed.
There was a fear of the industry disappearing, but instead, it reinvented itself and played a role in providing energy to Alberta
Results: Mega Projects
All the projects that involved Canada, all had the same effect, they helped boom the economy
They helped the country rebuild its self after the depression and begin their lives over again
It was significant for the Canadians because as previously stated, it helped the Canadians find jobs. For example as construction workers in the building of the Trans-Canada highway, and pipeline
Canadians learned that investing in grand projects aids in the economy and helps Canada develop and helps with international ties, for example with the US
These projects had some countries in awe because their economy wasn't as stable to invest in something like that
The Automotive Products Agreement(auto pact) was an important trade agreement between Canada and the United States
This agreement removed tariffs on cars, trucks, buses, tires, and automotive parts between the two countries
Trade tariffs are eliminated under the pact and, in manufacturing terms, Canada and the United States are now like one big car making country
Without tariffs, the United States can build bigger, more efficient car plants to serve both countries
In turn, Canada gets a chance to expand its automotive industry
Canadian consumers also win with a larger selection of cheaper cars
The Auto Pact was a limited free trade agreement because there were safeguards for Canada. The agreement stated that for every car sold in Canada, one had to be built here. And each vehicle built in Canada had to have 60 per cent Canadian content in parts and labour. If the conditions weren't met then tariffs will be applied.
However, the Pact caused immediate changes and Canada began to produce fewer different models of cars
Canadians learned that without these tariffs, canadians automobile industry required more workers which meant people would not be financially suffering.
From other peoples view the pact probably seems like a great idea because of the amount of job openings, as well as the prices probably became cheaper to purchase a car once the tariffs came down.
This event was very important for Canada because it greatly helped its economy flourish
But many small Canadian-owned auto parts manufacturers found they couldn't compete with larger American companies and shut down
A branch plant is a factory in Canada belonging to a company whose headquarters are in another country
The branch plants built in Canada were strictly under American rule
The branch plant economy is the phenomenon of United States companies building factories (branch plants) in Canada, primarily to sell products in the Canadian market
Canadian tariffs on imported products led U.S. companies to build factories in Canada giving them a free pass from tariffs
These branch plants provided new jobs and products
Some Canadians worried about American control of the Canadian economy
Many Canadian businesses were sold to the states
They received more money selling it to the united states then they would have selling it within Canada
Branch plants helped the united states export and import goods without having to pay tariffs
Canadians learned that US investment was a good thing because it helps expand the economy
Branch plants also helped U.S/ Canada relations and played a factor in bringing the two countries together
Increased Industrial Capacity
Industrial capacity is the amount of resources (workforce, factories, etc) present in a place that will enable an industry or industries to produce goods
In Canada our industrial capacity had grown very rapidly throughout the war years and now needed new challenges and opportunities to make use of this capacity
As a result of these developments and pressures, we were able to begin many large and important Civil Engineering Projects in the post war 50’s
We built roads/highways, bridges, waterways, public transit, railways, airports, seaways, buildings, and etc
The most visible developments of the Construction Industry in the nineteen fifties were the high-rise commercial developments that began to transform the skylines of Canada’s major cities
It was Vancouver that led the way in post war building design, the BC Electric Building (1955-1957), a 22-storey tower, and the Burrard Building (1955-1956) a 20-storey tower, are good examples
Increased industrial capacity helped Canadians/Canada because
due to many roads being built, traveling from one place to another was much quicker
it brought many job opportunities
more products were produced which they could export to other countries for profit
more money was being made which was put into projects that would help the country and its people
Canadians learned that for their country to be successful their industrial capacity would always have to keep increasing because everyone knows that other countries only do business with a country if it is stable
US economic investment in Canada
The economies of the Canada and the United States became more and more interdependent during the 1950's.
These two countries were so dependent upon each other, that if the US market dropped, Canada would shortly follow, so in a way Canada was losing control over its economy
US invested money for direct investment in mining and manufacturing
By 1956, 68% of Canada’s oil industry and 50% of our manufacturing were American owned. US corporations embarked on a massive program to locate and develop Canadian natural resources, from oil and gas to uranium and nonferrous metals such as copper and iron ore. This program of investment, along with investment in other major industries, helped fuse the Canadian economy even more closely with that of the US
a plus point was that canadians benefited from american technology
This issue had two arguments, some people thought that Canada was to reliant on US investments and that it could harm our development in the future, and others loved the financial aid they were getting such as job openings
The importance of US investment in Canada is that without US investment, our economy is literally weak
Its exports, branch plants, military are useful to us, because they will help our country when its in need in the future, and even today they invest tremendous amounts into our country to help it remain financially stable.
A financial grant made by the federal government to a poorer province in order to facilitate a level of services equal to that of a richer province
A formal system of equalization payments was first introduced in 1957
They were introduced mainly to help the struggling Atlantic provinces who were seeing low rates of growth and high rate of emigration to central Canada
The program had the goal of giving each province the same per capital revenue as the two wealthiest provinces, Ontario and British Columbia, in three tax bases: personal income taxes, corporate income taxes and succession duties (inheritance taxes)
People complained that more professors, more doctors, more nurses, lower tuition fees and smaller class sizes can all be enjoyed in the provinces which do not have to pay for these services by themselves
They claimed that being poor was the new rich
Many Canadians were not happy with the equalization payments
For example, people argued that a man who works in the mining field is literally making money so that in the end it gets handed to some people in Newfoundland who aren't even working
Canadians learned that its better to be struggling and financially poor because in the end, the government is going to hand you a big check