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Period: Oct 7, 1500 to
Timespan for Economy and Development
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Oct 14, 1500
Fishing in the St Lawrence
European fisherman came to the Gulf of St. Lawrence to catch different types of fish to bring back to France. -
Tadoussac
In 1600, the French businessman Pierre de Chauvin established a permanent trading post in Tadoussac. The settlement was then deserted in 1601 but it still remained a trading post for the Amerindians. -
Champlain's Document
In the year 1618, Samuel de Champlain sent a letter to King Louis XIII in France. This document stated all of Canada's riches, the achievable profit from which France could gain and the advantages related to increasing the population in the land and developing its resources. -
Destruction of Huronia
In 1649, The Five-Nations Iroquois destroyed all the villages belonging to the Huron-Wendats, which forced them to migrate to other parts of the land. -
Surplus Fur
In the year 1665, New France began to sell some of its surplus fur. However, it was hard to export due to the high cost of transportation. -
Hudson Bay Company
The Hudson Bay Company was founded in 1670 by two French travelers named Pierre-Esprit Radisson and Médard Chouart Des Groseillers. They turned to Great Britain and founded the company because they got no backing from France. The company established trading posts throughout the entire territory and they engaged in trade with the Cree nation. -
The English Trading with the Amerindians and the Coureurs de Bois
The King of France established a 25% tax on the furs that arrived from New France. Since the British and the Dutch businessmen did not have to pay this tax, they granted more for the furs. For example, in 1689, The English traded one rifle for five pelts. -
The Beaver Dilemma
The beaver business was in trouble. Fur-related clothing was out of style and the interest for beaver furs decreased. The fur trade was too extreme and the furs piled up in the warehouses in France. As a result, the King ordered a slowdown of the fur trade business. -
Fur 's Renewed Popularity
The fur trade once again gained popularity and strength after 1715 when the formerly stored furs were ravaged by rodents and insects. -
The Change in Infrastructure
As of the year 1737, a packed dirt road of roughly seven meters in width connected Montreal to Quebec near the north shore. This road was also known as King's Road. -
Paper Money Reimbursement
During the Conquest in 1760, the Canadian population faced some challenges getting their paper money reimbursed by France. Many Canadians only got back one fourth of its value. -
The Creation of the United States
The Creation of the United States of America led to some large changes in Canada's territory. The entire area south of the Great Lakes was lost to the new country. -
Northwest Company
In 1783, several Montréal businessmen joined forces and established the Northwest Company. The company pushed the fur trade towards the northwest and they competed against the Hudson Bay Company. -
Napoleon's Continental Blockade
French Emperor Napoleon I, aimed to conquer all of Europe. In 1806, he imposed a continental blockade against Great Britain. Great Britain came to Canada for its timber supply in favour of maintaining its naval power. -
Increase in Commerical Ships
There was a huge increase in the amount of commercial ships using the ports of the St. Lawrence. The number of commerical ships went from 100 in 1797 to 661 in 1810. -
The Merge of the Hudson Bay Company and the Northwest Company
The rivalry between the Hudson Bay Company and the Northwest Company was very expensive. Both of these companies challenged each other. Therefore, both companies were spending large sums of money to build trading posts while the demand for furs declined. These circumstance led the companies to merge in 1821. -
Erie Canal
In the year 1825, construction of the Erie Canal in the United States threatened to deflect trading to New York. -
Great Trunk Railroad
In 1851, the construction and establishment of the Great Trunk Railroad connected Sarnia, Ontario to Montréal and Rivière-du-Loup. -
The Treaty of Reciprocity
Great Britain signed this treaty for Canada. This was a free trade agreement based on the exports and imports of raw resources and farming products. The Treaty of Reciprocity was between Canada and the United States. -
The Canadian Federation
In the year 1867, the colonies of New Brunswick and Nova Scotia joined the Canadian feredation under the assurance that a railroad connecting them to Quebec's and Ontario's railroad network, was under way. -
The Nationalist Politics of MacDonald
There were three main policies in MacDonald's politics. The first point was an increase in custom duties. This means that this law would protect and promote Canadian Industries by making sure that Canadians are buying Canadian goods. The second point was about building railways. This refers to the The Canadian Pacific Railway which was to run from coast to coast. This would unite the county and promote trade. The last point was the encouragement of immigration. -
The First Wave of Industrialization
The first wave of industrialization hit Québec in 1885. The work of the skilled craftsmen was too time consuming and costly. When industrialization came to Québec, factories were created. This created assmebly lines and the work was more efficient but it was dangerous and boring work. -
The Roaring Twenties
In the 1920s, there was an upswing in the economy. This period was named "The Roaring Twenties". Many people were making investements in different companies. Many stocks were also being bought. However, most of these transactions were done with loaned money. -
The Stock Market Crash
Many people were purchasing shares in companies on borrowed or loaned money. However, when debts were called in, the stocks crashed and lost their value. -
The Great Depression
The Great Depression was caused by the stock market crash of 1929. Most sectors of the economy were hit hard. Many lost their jobs and families bought as little as possible. However, the government found some solutions to this economic catastrophe. They set up work camps, public work projects and direct aid. This was all in the hopes of bringing the economy back to its former glory. -
The Second World War's Effect on the Economy
The Second World War got Canada out of The Great Depression because the country needed to start spending money on things for the war. Also, it created many jobs. The soldiers had to go to war and the soldier's wives worked in the factories. -
The Quiet Revolution
The Quiet Revolution started when the Union Nationale was defeated by Jean Lesage and his Liberal party. The Quiet Revolution is said to be a rapid and extensive process of social, economic, and political reform in Quebec . This process started in the early 1960s and continued until the late 1960s. This is the period where a massive increase in government intervention was noted. -
The NAFTA Agreement
Canada entered into a free trade agreement with The United States of America and Mexico. This is a good example of the ever increasing effects of globalization.
