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John Cabot discovered Newfoundland in 1497. European fisherman mainly Bretons and Basques participated in cod fishing close to Labrador and Newfoundland Island as well as in the Gulf of the St. Lawrence. There was a great demand for fish. Before the french regime, french fisherman set up fishing grounds to meet the European fish demand and dried and salted the fish to then bring to Europe to keep it fresh.
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The types of production according to the needs of different groups = barter system = trading for objects according to one's needs.
Create trading networks communication and contax between families, groups and tribes.
Economic role of individuals (men=hunters, women=farmers, elderly watched after the children). -
During the french regime the economy was based on fur trade
Less french population than amerindiens so alliances with the natives allowed more hunting to be done
New france was constantly expanding to find new territories with more fur supplies
Established trading posts in Quebec and Three Rivers -
Mercantilism = financial organization theory : European Countries thought it was essential to possess as much wealth as possible through the accumulation of gold and precious medals. Therefor they wanted to export more than they imported. Selling more than needing therefore a great abundance in natural resources from your own colonie allow you to make the goods that you export without needing outside material.
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Only ones given rights to the fur trade.In return for this privilege they were obliged to help develop and expand the colony.
The population was extremely small and was mostly male
This failed to develop the colony so they lost their rights for fur trade -
The currency used in New France was the currency of France: the pound, divided into 20 sols and 240 deniers. When cash was lacking, it was usually replaced by animal pelts or wheat. Intendant Jacques de Meulles and his successors also issued the card currency. Other types of paper money were also used. Such as certificates, other script or exchange letters.
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Planted just enough to provide for their family
Jean Talon attempted to diversify the economy through agriculture
1.Imported domesticated animals
2. Added wheat cultivation
3. Introduced cultivation of cereals and vegetables
With this diversification created a triangular trade within the colony
Result: Failed! Too much demand for fur and not enough people with the skills needed for these different agricultural tasks. -
The companies had a monopoly in the trading industry were financed by shareholders that shred the profits and the losses in proportion to their investment from before. They were only able to determine the price and the amount of pelts hat could have been sent to France
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In the 17th century, Pierre- Esprit Radisson and Médard Chouart Des Groseilliers explored Hudson's Bay, where they attempted to establish a fur trade. They had no help from France so they turned to Great Britain and founded the Hudson's Bay Company in 1670. The company established trading posts all throughout the region to engage trading with the Cree nation
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he hunt for furs led to the exploration of North America. Adventurers travelled the territory on waterways. They explored the Great Lakes, the Prairies all the way to the Rocky Mountains, Hudson Bay, the Ohio Valley and the Mississippi River to Louisiana. The regions that were founded were often disputed between the British and the French. Each group made forts to protect their commerce against the enemy.
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Used to get their timber from Europe but very expensive
1806:French emperor Napoleon wanted to take over all of Europe= created a blockade against Great Britain so Great Britain had to turn to Canada for its timber.
Rise in the demand for timber
New jobs:lumberjack,loggers,sawmills.
Improvement and development of transportation: canals,railroads, steamships
Making money exporting timber not just fur
Creation of the Bank of Montreal in 1817 to allow people to invest and obtain credit and loans -
Great Britain adopted the Protectionist Policy.Liberals from Great Britain disliked this policy. They implemented the free trade agreement when liberals took over government.Canada was affected and had to find new alliances. They turned to the U.S which had a rapidly expanding economy and the U.S needed timber and various farming products. The demand for canadian products increased. 1854:Great Britain signed the Treaty of Reciprocity between Canada and the U.S.Treaty lasted 10 years.
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Waterways that already had been unnavigable saw the building of channels that facilitated the circulation of steamboats:
1.Lachine Canal in Montreal 1821-1825 on the St. Lawrence River whose surrounding area quickly became a big industrial zone.
2.The RideauCanal between Ottawa and Kingston 1826-1832 connecting the Ottawa River to Lake Ontario.
3.The Chambly Canal on the Richelieu at St. Jean from 1833-1843. -
Railroad construction needed the same needs as the canal construction. The first railroad route was inaugurated in 1836 connecting the South Shore of Montreal to St. Jean sur le Richelieu. Although, big scale projects were later undertaken: in 1848, a railroad connecting Montreal to Portland, in Maine, which allowed Montreal to access the sea during the whole year. In 1851, the manufacturing of the Great Trunk Railroad connected Sarnia, Ontario, to Montreal and Rivière-du-Loup.
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-Urbanisation occured
-Development in the cities ; concentration of services (transportation, hospitals, education…), infrastructure (aqueducts, sewers).
-Que. Birth rate remains very high, however people kept leaving Que. because (Farms still over crowded) even though there was rural exode.
-Better jobs in the USA, Ont, Western Cdn therefore we also experienced a lot of emigration as well.
-Putting in place Unions
-The rich lived well but others didn't. -
Up until the 19th century, Canada's economy relied on timber, agriculture and the fishing industry. There were not that many processing industries because products were usually processed in Great Britain or in the United States. As of 1850, industrialisation grew rapidly with a second phase beginning in the early 20th century.
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The Nationalist politics of MacDonald (1878).
Three Main Points
-Increase Custom Duties:Protect/Promote Canadian Industries by ensuring Canadians bought Canadian goods.
Build Railways: increase trade from coast to coast
-Encourage Immigration: Especially in Western Canada, because newer territory and lower population -
Started in Quebec in the late 19th century ( late 1800) Skilled craftsmen such as ( carpenters, bricklayers, dressmakers) which took time to produce. They were replaced by factories and unskilled labours ( assembly lines =how a factory works) and they received lower wages. These first manufacturing industries were powered by coal/steam engines Quebec stopped farming wheat and specialized in Diary, textiles, wood
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They needed to build transportation infrastructure.The Great Lakes region in Upper Canada, came across some problems shipping its farming surpluses to Lower Canada because of the rapids between Lake Ontario and Montreal. 1825, construction of the Erie Canal in the United states threaten to divert trading to New York.In order to lower costs and make trade easier, the Canadian gouvernement started to financially support private initiatives to build transportation infrastructure,
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During the 19th century, there were many times when agriculture barely met a family's food needs. This situation improved at the end of the 1930's with the mechanization of farming. Agriculture was becoming way more diversified. Lots of farmers were becoming specialized in diary production, others chose animal husbandry and even market gardening. Agriculture as a family-run business was replaced by small or medium sized farming entreprises, often grouped as cooperatives.
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In the 19th century, industrialisation first affected light industries producing everyday necessities for example: leather, shoes, clothing, tobacco and food. In the 20th century, other industries joined these light industries: pulp and paper and other wood- processed products, ore processing, chemical products manufacturing and transportation material particularly for railroads.
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Cause: Stock market crash of 1929 which set off a panic
How?: People were buying shares in companies on borrowed money when banks wanted debts repaid. Stocks crashed (plummeted).
Black Thursday: Stocks dropped drastically, people were ruined, many commited suicide.
Prior to the great depression there was an economic boom after world war 1 but once prices started dropping and people panicked it lead to what is called the great depression and stock market crash. -
1960, started in QC
Union nationale by Jean Lesage and his liberal party were defeated.
Maurice Duplessis and his traditionalism and conservatism won.
Beginning of welfare state.
Massive increase of government intervention. -
In the 1960s the beaver economy was in crisis. Fur related fashion was out and the demand for beaver pelts went down. Fur trading was too intense and the pelts piled up in warehouses in France. The kind demanded a slowdown of the fur trade. It then gained strength after 1715 when the previous fur was destroyed by rodents and insects.
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Throughout the 20th century, the tertiary sector grew. Jobs in the fields of administration and finance were more popular, and this led to new class of worker: the office worker. The establishment of social measures created by the government made numerous jobs in the field of social services, health and education. There was an increase in the standard of living and some sectors such as tourism and leisure developed. These jobs were mostly in the urban centres.
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