Economy and Development

  • Period: Jan 1, 1500 to

    Economy and Development

  • Oct 1, 1500

    Trading Systems

    Trading Systems
    -trading occured between the Iroquis and the Algonquians
    -they would trade their farming surplus for their hunting surplus
    -this system was called the barter system
  • Oct 1, 1504


    -first major economic activity
    -fish was in great demand in Europe for relgious reasons
    -to keep the fish preserved for the length of the voyage, the fish would be smoked, dried and salted
    -the contacts between aboriginals and french fishers were sometimes peaceful and sometimes not
  • Aug 4, 1534

    Fur trade

    Fur trade
    -The Amerindians traded for with the Europeans for metal objects
    -The beaver pelts were worth much more than the metal objects
    -The fishermen brought the animal pelts back to France where the King granted them a monopoly of the fur trade in the St. Lawrence Valley (chartered companies)
    -Created alliances between the French and the Natives
    -Created competition between France, Great Britain and Holland
  • Company of One Hundred Associates

    Company of One Hundred Associates
    -They were given a monopoly on the fur trade
    -They were also supposed to build up the population of the territory but since they were only focused on the profit they didn't succeed in their goal
    -In 1663, their monopoly was taken away from them and the royal government took over
  • Mercantilism

    -it's a way of financial organization theory
    -European Countries thought it was essential to possess as much gold as possible
    -You would accomplish this by exporting more than you import
    -Take in natural ressources from colonies you had control over and sell finished goods
  • Attempts to Diversify the economy

    Attempts to Diversify the economy
    Jean Talon tried to make the colony economically independant through self-production:
    ~imported domesticated animals
    ~wheat circulation
    ~creation of small workshops
    ~sell surplus fur
    ~flour and fish were exported
    ~construction of sawmills
  • Jean Talon

    Jean Talon
    -The first Intendant of New France
    -He tried to make the colony economically independant through self production
    -He also encouraged the creation of smallworkshops
  • Hudson's Bay Company

    Hudson's Bay Company
    -founded by Pierre-Esprit Radison and Médard Chouart Des Groseilliers with the support of Britain
    -trading posts were built throughout the Hudson Bay region
    -the fur trade in this region became a rivalry between France and Great Britain resulting in a series of battles
  • Beaver crisis

    Beaver crisis
    -in the 1960's, the fur related fashion was passé and the demand for beaver pelts started to decrease
    -due to the ongoing fur trade, there was a surplus of beaver pelts and nowhere to put them
    -the timber industry was on the rise
  • Expansion of the timber economy

    Expansion of the timber economy
    -At the beginning of the 18th century Great Britain was obtaining its wood supply from northern Europe
    -After the Napolean Blockade, Great Britain turned to Canada for its wood supply
    -This marked the begginning of the Canadian timber industry
    -It created many more jobs and new trades were formed
  • Triangular Trade

    Triangular Trade
    -was used by Jean Talon to help diversify the economy but it failed
    -New France would send raw materails to France. France would then send finished goods to Africa. Africa would send slaves to New France
    -the triangular trade helped the colonies to sell its surpluses and give the mother country what it needed
  • Transportation Infrastructure

    Transportation Infrastructure
    -waterways were the main method of transportation at the beginning of the 19th century
    -Upper Canada was having difficulties shipping its farming surpluses because of the rapids
    -the Canadian government began to support the buildings of transportation infrastructures
    -canals and railways were built
    -the trains were much faster than the boats and were able to operate during the winter
  • The Lachine Canal

    The Lachine Canal
    -the building of the canals facilitated the circulation of steamboats
    -the Lachine Canal took many years to build because it was dug by hand and it was difficult to build around rapids and waterfalls
    -once it was built it was very popular and became a major industrial zone
  • Treaty of Reciprocity

    Treaty of Reciprocity
    -Canada signed a Reciprocity Treaty with the U.S. in 1854
    -it only lasted 10 years because it wasn't renewed
    -this treaty removed customs/duties between the two countries (US and Canada)
    -the expiration of this treaty was one of the reasons for the British North America Act
  • National Policy

    National Policy
    -The Nationalist Policy was created by MacDonald
    1.Increase Custom Duties: promote Canadian Industries
    2.Build Railways: The Canadian Pacific Railway was to run coast to coast
    3.Encourage Immigration: bigger population=bigger market
  • First Industrial phase

    First Industrial phase
    -took place during the years 1885 to 1900
    -the origins of the Capitol came from Britain
    -first assembly lines were created to make the production faster to make more money
    -the working conditions were poor and dirty
    -specialized in wheat and dairy production
    -relied on coal for energy
  • Second Industrial phase

    Second Industrial phase
    -much better working condition than the first phase of industrialiszation
    -first affected light industries producing everyday necessities (shoes, clothing and food)
    -later, industries more export-oriented joined these light industries (pulp and paper, chemical products and mining)
    -relied on hydroelectricity for their energy source
  • Great Depression

    Great Depression
    -The Great Depression was caused by the stock market crash of 1929
    -people were buying shares in companies on borrowed money
    -when debts were called, the stocks plummeted
    -most sectors of the economy were hit hard
    -the government implemented work camps, direct aid and public works
  • World War II

    World War II
    -the second world war helped reboot Canada's economy
    -the war took Canada out of the Great Depression and opened doors for wonen
    -they were now allowed to vote and the amount of women woking in jobs increased
    -after the war, Canada welcomed all immigration
  • The Quiet Revolution

    The Quiet Revolution
    -also know as La Révolution Tranquille
    -a rapid and far reaching process of social, economic and political reform in Quebec
    -massive increase in government intervention
    -a period of modernization in Quebec