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Economy and Development

  • Jan 1, 1492

    Christopher Columbus

    Christopher Columbus
    Christopher Columbus arrives in North America in 1492
  • Jan 1, 1497

    John Cabot

    John Cabot
    John Cabot reaches Newfoundland in 1497.
  • Jan 1, 1500

    First Occupants

    First Occupants
    Quebec's territory was occupied by the 3 Amerindian linguistic groups: Iroquoian, Inuktitut and Algonquin Modes of transportation:
    - Winter = snowshoes
    - Summer = walking, canoes
  • Jan 1, 1500

    Barter System

    Barter System
    The different aboriginal groups used the barter system to trade goods from different areas.
    - No money was involved.
    - Traded goods for other goods
    - Traveled great distances
    - Important political and cultural significance to the barter system in addition to its economic usefulness. The different aboriginal groups relied on each other to supply resources they could not find in their own territory. Climate types and vegetation differ from one region to another.
  • Jan 1, 1500

    Obsidian Tools

    Obsidian Tools
    Among all the traded resources between the natives, obsidian (black stone) was probably one of the most precious because it was very durable and could be used to make sharper tools
  • Jan 1, 1500

    Slash-and-Burn Agriculture

    Slash-and-Burn Agriculture
    Technique particularly used by Iroquoians. They would slash the vegetation around and then burn it in order to prepare the land for cultivation. By burning the vegetation, nutrients needed for farming would be in the ground. When the land was depleted (not usable) the Iroquoians abandoned the area and set up in another part of the territory.
  • Jan 1, 1500

    Fisheries in North America

    Fisheries in North America
    European fishers quickly took control of N.A. waters where fish was found. Fish was in high demand because most Europeans were Catholics and would practice abstinence from meat. Every summer, fishers would set up temporary camps on the shores and dried the fish that they would then take back to Europe. The sailors had 2 cod preserving techniques: green fish and dried fish. Fishers built wooden structures on the shore and arranged the fish on them and let the sun and wind would dry the fish.
  • The Company of 100 Associates

    The Company of 100 Associates
    In 1601, the King of France wanted more people to settle in NF, so he gave a monopoly to the Company of 100 Associates. This company had 100 shareholders and made profit from fur trade. In 1627, France and England went to war against each other. An English fleet intercepted the first ships to NF which had been carrying almost 400 colonists and provisions for the colony. In the end, the company suffered heavy financial losses and was unable to settle the territory.
  • The Dutch West India Company

    The Dutch West India Company
    It was founded on June 3rd 1621 by King Louis XIV to gain control economic activities in NF. It was a chartered company for Dutch merchants. The company ended in 1674.
  • Destruction of Huronia

    Destruction of Huronia
    Huron decimated thru war with iroquois (1648-1650). English supplied arms and goods to the Iroquois Confederacy because they wanted to destroy the Huron who were French allies. The French are then left without their main fur supplier and are forced to search for fur themselves.
  • King Louis XIV

    King Louis XIV
    His reign began in 1661. He created the company of 100 associates in 1663. He set up companies that were accountable to him, like the Dutch West India Company.
  • Mercantilism and Triangular Trade In New France

    Mercantilism and Triangular Trade In New France
    Mercantilism:
    The french wanted to create a market in NF to sell its finished products and exploit the colony’s resources. The production within the colony was restricted to increase demand for products like metal goods like nails, fur hats, etc… Triangular trade:
    Canada traded with french colonies like Antilles, while continuing to provide the mother country with raw materials in return for manufactured goods.
  • The Treaty of 1667

    The Treaty of 1667
    The French signed a peace treaty with the Iroquois (1667-1670). During peace, french merchants (coureurs de bois) explore great lakes for less expensive furs.
  • Shipbuilding and ironworks

    Shipbuilding and ironworks
    In 1670, the French state encouraged and subsidized 2 industrial sectors: shipbuilding and ironworks. Iron ore was found in trois-rivières and the French set up an ironworks company in st mauricie which made ploughing equipment, wood stoves, cooking pots. A Royal navy shipyard is established in QC to build warships.
  • Hudson’s Bay Company

    Hudson’s Bay Company
    Radisson and Groseillier (2 coureurs de bois) decided to go to the Hudson Bay area to trade with a group of aboriginals. They return to France with information on the territory and high-quality fur but are still unable to convince french for commercial expedition in the Hudson Bay. They decide to give their services to the English crown. They convince the English to fund a maritime expedition and they later on create the Hudson Bay Company (HBC) on May 2nd, 1670.
  • Treaty of Paris

    Treaty of Paris
    The Treaty of Paris was signed by the French and British in 1763 and put an end to the Seven Year War. New France and other former French colonies went into the British's possession.
  • Quebec Act

    Quebec Act
    The British parliament adopts the Quebec act in 1774 and it leads to the expansion of the territory to include the region of the Great Lakes. As territory expanded, competition for furs grew. New France is renamed the Province of Quebec.
  • North West Company

    North West Company
    The fur trade falls into the possession of the British. In 1779, a few Montréal merchants establish the Northwest Companies (NWC) as a way to participate in the competitive trade. The company consisted of English, Scottish and Canadian merchants whose main goal was to compete with the Hudson Bay Company. NWC eventually merges with the Hudson Bay Company in 1821.
  • Napoleon's Naval Blockade

    Napoleon's Naval Blockade
    Napoleon sets up a naval blockade in 1806 preventing Britain’s access to timber, which Increases demand (mostly from Europe).
  • Timber Trade

    Timber Trade
    Napoleon imposed a continental embargo on the timber trade and that influenced the British to colonize new regions, like the Saguenay during the mid-19th century. Some seigneurs exploited the forest located in their territory. The timber trade created new jobs like lumberjacks, mills, loggers, etc. It also improved and developed the transportation of canals, railroads and steamships.
  • Creation of The Bank of Montréal

    Creation of The Bank of Montréal
    The Bank of Montréal (BMO) was created in 1817 which allowed access to credit and investment.
  • Free Trade

    Free Trade
    In 1846, Britain ends protectionism in the colony and adopts Free Trade Policies. customs and duties on trading are partially or entirely abolished between participating countries.
  • Abolishment of Corn Laws

    Abolishment of Corn Laws
    The corn Laws are abolished in 1846 which guaranteed preferential tariffs to cereal merchants on the British market.
  • Abolishment of Navigation Acts

    Abolishment of Navigation Acts
    The navigation Acts are abolished in 1849. Merchants ships from all over the globe now have access to British ports.
  • The Reciprocity Treaty

    The Reciprocity Treaty
    The Reciprocity Treaty is signed in 1854 and lasts 10 years. According to this treaty, raw materials or primary manufactured products (flour, sawed wood) could be traded between the countries without customs or duties. The treaty benefited Canadian farmers who were able to diversify their crops. It also increased investments from the American colony.
  • 1st Phase of Industrialization

    1st Phase of Industrialization
    Industrialization came to QC in 1867. The old style cottage industry gets replaced by factory production. Factories employ cheap, unskilled work to operate machines that mass-produced goods quickly at a low cost. People are moving to the cities and immigrants from Europe provide cheap labour work. The St Lawrence river, canals and new railways provide transportation. The first manufacturing industries were powered by coal and steam engines.
  • Dominion of Canada

    Dominion of Canada
    The Dominion of Canada is created by the confederation of the British colonies in 1867.
  • Canadian Pacific Railway

    Canadian Pacific Railway
    Macdonald came to power in 1878 and made the completion of the CPR a main priority. Canadian government paid many subsidies to the companies in charge of developing the railway. Some obstacles slowed down the construction (labor shortage, uneven terrain, disputes with first nations ppl). The CPR was completed in 1885 and became essential for the colonization of the territory in the west.
  • National Policy

    National Policy
    Created by John A Macdonald in 1879 after an economic crisis in 1873. 3 main points:
    - Increase customs and duties to protect/ promote Canadian industries by ensuring Canadians bought Canadian goods (avoid American interests).
  • Manufacturers Act

    Manufacturers Act
    Created in 1885. Included clauses which provided for the protection of the health and security of workers. Assigns a minimum age for factory workers of 12 years for boys and 14 years for girls. Employers limit work hours to 72.5 hrs per week for men and 60 hrs for women
  • 2nd Phase of Industrialization

    2nd Phase of Industrialization
    The 2nd phase lasted from about 1900 to 1929. It was primarily characterized by the quick expansion of industrial sectors caused by hydroelectricity and oil. The success of companies depended on their ability to compete with American and British companies. To compete, they needed to lower their production costs and establish themselves close to sources of energy. The railway contributed to limiting production costs cause access to resources and sped up the distribution of manufactured goods.
  • World War 1

    World War 1
    1914-1918. Canada becomes one of the main suppliers for the allied troops. The developed sectors such as mining, iron and steel, clothing, etc… The agriculture sectors also benefitted from the war as the demand for wheat and pork, intended primarily for the soldiers, grew rapidly. War production led to modernization of factories. A consumer industry (mass consumption) took hold and ensured the Dominion’s prosperity.
  • The Great Depression

    The Great Depression
    Started October 23rd, 1929 and ended in 1939. Root of the crash was an overproduction problem.
    1. Overproduction and accumulation
    2. Fall of prices
    3. Loss of investor confidence
    4. Decline in stock values
    5. Companies not profiting
    6. Production decline
    7. Layoff and unemployment
    8. Weak consumer purchasing Most sectors affected but wheat was hit really hard. Modernization of agriculture caused farmers to upgrade on credit/ loans. The situation is made worse by drought and plague of insects.
  • National Mobilization Act

    National Mobilization Act
    The National Mobilization Act was created in 1940. It regulated the supply of certain products necessary for war production and it raised taxes.
  • The Quiet Revolution

    The Quiet Revolution
    During the 1960s Qc experienced major political, social, cultural and economic changes which was known as the Quiet Revolution. The state took charge of certain social programs, including education and health. They also invested in the construction of new institutions and public infrastructure causing it to become a welfare state.
  • Hydro-Quebec

    Hydro-Quebec
    In 1962, the government of Quebec bought out most of the private electricity companies and integrated them into Hydro-Quebec to nationalize the production and distribution of electricity. Hydro-Quebec quickly played an important role in the province’s economic development.
  • Société Générale de Financement

    Société Générale de Financement
    In 1962, Société Générale de Financement (SGF) is created. It is the mandate of the SGF was to stimulate the Qc economy by financing companies seeking to develop and modernize.
  • Canada-United States Free Trade Agreement

    Canada-United States Free Trade Agreement
    Canada-United States Free Trade Agreement (CUSFTA) is created in 1989. It eliminates almost all customs and duties between Canada and the US for 10 years.
  • North American Free Trade Agreement

    North American Free Trade Agreement
    CUSFTA was renegotiated prior to its expiry in order to include Mexico. The North American Free Trade Agreement (NAFTA) is created in 1994.