Economics

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Economics (1940-1945)

Timeline

This department, was in a sense, one of the biggest businesses in the world. It coordinated all purchases made in Canada by British and other Allies for things like military transport vehicles, tanks, cargo's etc. It also created 28 Crown corporations to produce evrything from rifles to synthetic fibres.

In 1940, C.D. Howe became the minister of the newly-created Department of Munition and Supply. This government department controlled and coordinated all aspects of war production

During the second world war Canadian industries manufactered war material and other supplies for canada and other allied countries. The total value of Canadian war production was almost $10billion

the country was wealthy during the 1940's.

Canada also lent money to Britain interest-free, gave it gifts of war supplies in January 1942 and then donated surplus production to its allies through the Canadian Mutual Aid Board. Canada was making was making war production available to the allied countries who could not afford it.

Everyone who wanted to work could.

Howe had the extraordinary power to gear up the economy and get ready for the wartime demands

Howe applied tough wage and price controls in 1941

some called him the minister of everything.

Under Howe's leadership, the government ran telephone companies, refined fuel, stockpiled silk for parachutes, mined uranium, and controlled food production.

He even pressurized farmers to produce more wheat ,beef and dairy products

if the private sector unable to produce what Howe wanted he created Crown corporations to do the job.

Total War

by 1940, it became clear that Canada's role in world war 2 is going to be more than BCTAP

As a result PM Mackenzie appointed C.D. Howe as the minister of Department of Ammunition and Supplies in order to gearv up the economy of Canada which suffered alot during WW1 and The Depression.

The Aftermath

Canadian economy did not "gear down" after the war ended. The jobs which were disappeared found replacements. C.D. Howe was again involved, this time in charge of the Department of Reconstruction, which overcame a potential economic crisis. In 1948, the unemployment was minimum