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After the discovery of Newfoundland by explorer John Cabot, European fisherman, mainly Bretons, Basques, and Portuguese participated in cod fishing close to Labrador and Newfoundland Island and the Gulf of St. Lawrence.
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The king of France gave full control over the fur trade to the 100 associates company.
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France based their economic development to mercantilism. Mercantilism is an economic theory that bases a nation's whealth on the amount of gold and silver they have.
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Talon imported domestic animals (cows, horses, and sheep) from France and gave them to the settlers for the development of animal breeding. He also brought cereals (barley, rye, oats, etc), vegetables (carrots, onions, beans, etc) and hemp.
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They built trading posts throughout the entire region. Fur trade in this region was the subject of a bitter rivalry between France and Great Britain and resulted in a series of land and sea battles.
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The French organized trade between France, New France, and the West Indies. Boats cannot leave a port empty handed. They must be full of products or resources. Boats leaving New France and the West Indies must transport natural resources to France. Boats leaving France for New France or the West Indies must transport manufactured good.
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They are diversifying the economy.
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The British owned most of the companies for the fur trade and dominated the market.
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The Montrealers created the Northwest company which competed against the Hudson's Bay Compay in the fur trade.
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Furs were stockpiling in warehouses in France and our main export became timber because it was in such abundance.
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Protectionism was the replacement for mercantilism. Instead of favouring the mother contry like in mercantilism, protectionism prtoects the economy of the contry or empire from foreign competition.
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Since the timber trade was so lucrative, a bank had to be created, the bank of montreal.
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The government merged the two companies under the name: The Hudson's Bay Company. They stopped looking for furs in Montreal and continued in the Hudson Bay area.
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In order to transport merchandise inland by water, the first canal was build, the Lachine Canal.
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The United States and Canada signed the Reciprocity Treaty to be able to trade without having to pay customs duties.
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They had hard working conditions; working 70 hours a week and working 6 days a week and kids had to work as well. They had a low tech, unskilled and uneducated workers.
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The National Policy increased in protectionist tariffs, expansion of the railway and imigration to the west of Canada.
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They had less working hours and had to work 5 days a week instead of 6. The workers were better qualified and kids didn't have to work anymore and could go to school. They had higher tech.
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Beginning of the great depression and created a lot of unemployement.
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When the stock market crashed it created a lot of unemeployment and bankruptcies which strted the great depression.
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World War 2 helped out the Canadian economy a lot. It ended the great depression because people were either at war of making uniforms or food for the war. The unemployment rate went down a lot and the economy was beginning to stablize.
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The government of Quebec bought out all the electricity companies and created Hydro-Quebec which is the only electricity company in Quebec.
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Quebecers became aware of the domination of their province's economy by foreign companies.
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Oil was a major part of the ecomony.
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U.S.A, Canada, and Mexico would be able to trade freely among each other.
