Focusing on the causes and extent of the Depression of the 1930s and its impact on a wide range of governmental policies, Bryce describes the department's increasing involvement in the formation and conduct of economic policies. The department was involved in events ranging from the collapse of the gold standard in 1931, to the possible default of the governments of the western provinces, to the introduction of federal unemployment and housing policies, to the founding of the Bank of Canada.

Bryce presents a fascinating portrait of the early Department of Finance and the informality of the policy process in what was obviously a smaller, simpler Ottawa. From the vantage point of his years of experience within the department, he offers insightful analyses of the central economic issues of this century.