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Canadian History And How It Has Changed Canada

1706 words - 7 pages

This essay basically talks about four major events or turning points in canadian history: the stock market crash of 1929, the era of hippies and activists, Terry Fox and the Marathon of Hope, and the battle of Vimy Ridge. It talks about the different ways it has changed Canada as a nation, and the positive outcomes of these moments in history.Canada is a country of freedom and opportunity, as well as diversity and great historical moments. Canadian history is precious, as it has helped shaped Canada into the great country it is today. It is amazing what impact certain events have had on our country, and even at the worst of times, there was always a good outcome in the end. Events such as the colossal stock market crash in 1929, in which many people were left in poverty, or the era of hippies and activists, a time where freedom and individuality was fought for and demanded. Also, individuals such as Terry Fox who made a huge difference alone demonstrated great determination and strength, as did the soldiers who fought in the battle of Vimy Ridge, one of Canada's most important battles and greatest achievements.However, one of Canada's greatest disasters was the stock market crash of 1929 was in all, quite destructive, however, it takes two wrongs to make a right. Although the bubble of hope and wealth continued to grow, the burst came as somewhat of a shock. Canada's economy and stock exchanges were in fact, flourishing in the late 1920's. Stock prices were drastically increasing, creating exciting times for all investors and shareholders, but only to be enormously disappointed in the end. Canadian corporations had a major part in the drastic downfall of the stock markets. These Canadian corporations had taken advantage of the increasing stock prices to issue new stock, which overheated the supply. Banks gave out easy and cheap credit, and let people buy stocks carelessly: buyers paid only a fraction of the share price and borrowed the rest. The value of stocks were driven up as much as forty times the companies' annual earnings caused by bidding. Soon, everything went downhill as the economy could not sustain its rapid growth. Overnight, individuals and companies were devastated and destroyed. Canadian stocks were estimated to have lost a total of 5 billion dollars, and the stocks for 50 leading Canadian companies had plunged by over 50 percent from their peaks in 1929. Although this was a devastating time in Canadian history, it was necessary so we could learn from it in the future. Many mistakes were made, and Canada slowly but surely recovered from this devastation by learning from these mistakes. If it hadn't happened then, it might have happened at another time because it seems that there would have been no way of avoiding this catastrophe from taking place, as it is human nature to get carried away when dealing with money. This fateful moment in time, in the long run, has helped Canada's economy and businesses become more useful and...

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