Businesses In 1920s The National Times Examiner The economy of the 1920’s centred on the recovery from war. When war time industries closed down, and thousands of returning soldiers were looking for jobs, no jobs and people looking for jobs made for lots of unemployment. But by the time the 1920’s rolled along, the economy was on the upswing. Huge wheat crops in 1925 to 1928 made for huge exports to other countries. More and more people began to buy farm machinery when tax on imported farm machinery was lowered.
Pulp and Paper, which included newsprint, was second in growing Canadian economy, in terms of exports. The big american newspapers wanted Canadian pulpwood to produce their newspapers. Such large amounts of newsprint was being shipped across the border that the government had to urge Canadian producers to save some news print for its own newspapers. This was just the beginning in the Americanization of Canada. As more and more Canadian exports were being directed into the United States, the British invested less and less into the Canadian economy, while the Americans invested more, and more, and more.
More and more Canadians began to believe in their country again, and more and more began to invest in various money making systems, such as stocks and bonds, investing in companies, and even making their own company. Anyone who had an idea could make a company to produce it. The most powerful business tycoon of the 1920’s was Sir Herbert Holt. Holt controlled so much of life in Canada, that when someone woke up, they switched on Holt’s lights, cooked their breakfast on Holt’s gas, smoked one of Holt’s cigarettes, read the newspaper that was printed on Holt’s paper, went to work on one of Holt’s streetcars, sat in an office heated by Holt’s coal, and then at night, went to see a movie at one of Holt’s theatres. Herbert Holt owned railroads, banks, mines, movie theatres, factories, anything the mind could imagine. He had very few friends, as in his funeral, when there were 8 car fulls of flowers, while few mourners at his funeral.
The 1920’s were truly a time for economic growth in Canada.