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1500
Amerindian's trading system
Nomadic and sedentary Aboriginal communities used the barter system because the different Aboriginal people depended on each other to supply goods that they could not find in their own territory. -
Period: to
Monopoly of merchant companies
The fur trading companies had the control over the main economic activity in New France, which is fur trade. -
Mercantilist policies
New France was under the rule of the French regime because of this the development of their economy is on mercantilism. Which means the New France (a colony) is to supply France (the mother country) with their raw materials for the mother country to obtain riches. -
Economy of New France before 1663
During the French regime, agriculture was the activity that occupied most people. It was a subsistence activity. -
Period: to
Talon's attempts to diversify the economy
Jean Talon tries to make New France's economy independent. So, he imported domestic animals, he founded a shipyard near Quebec city and he imported seeds to make the agriculture more diversified. -
Hudson's Bay Company
The company built trading posts throughout the entire region to engage trade with the Cree nation. -
Triangle trade
The French organised commercial trades between France, New France and the West Indies. The purpose of the Triangle trade is to make France richer by taking advantage of the ressorces of the colonies, and by selling manufactured goods to its colonies. -
Royal Shipyards
Jean Talon founded a naval shipyard to export the colony's surplus to other French colonies -
The establishment of Forges du Saint-Maurice
Forges du Saint-Maurice was establishment because of the deposit of iron in that area which was used to make parts for the navy ships, wood stoves, cooking pots, ploughshares and other ploughing equipment. -
Completion of the Chemin du Roy
Gilles Hocquart created a road to help the economic trade between the main cities (Montreal, Quebec and Trois-Rivieres) -
British merchants
The British merchants took control over the fur trade in their new colony. (They control the main source of money the colony has). -
The start of the Timber trade
The lumber industry became the engine of the Canadian economy because Great Britan could not purchase any timber from Europe due to the continental embargo. -
The Corn laws
The Corn Laws guarantee preferential tariffs on the British market to cereal merchants, were abolished -
Period: to
British protectionism
New France is now a colony of Great Britain and they have a different economic policy which is protectionism. It means the mother country, as well as, the colonies get rich together (protecting their economy). They do this by making trades within their colonies. -
The Bank of Montreal
The timber trade gave so much money to the Canadians that the Bank of Montreal was founded -
The beginning of the agricultural crisis in Lower Canada
Great Britain stops buying wheat from Lower Canada. So the farmers start to leave their farms and start to settle in the city or to colonize new lands to get money. -
Railroads
The railroad helped the economy because it was easier, faster and safer to transport goods to other places. -
Period: to
First phase of Industrialization
Manufactures were slowly replacing the artisan workshop. Machines now permitted the division of labor and increased productivity. The population had the ability to create more products for the population to receive more money. The colony had an inside market. -
Period: to
The reciprocity treaty
Since Great Britain adopted free trade, the colony had to find a new economic partner so they turned to the United States and made a treaty to be economic partners. -
The economic crisis
The Canadian market was filled with good from the USA however, that made the manufacturers from the colony poor because no one was buying products from the colony. -
National policy
Prime Minister John A. Macdonald tried to eliminate the economic depression by creating the national policy. Which is,
1. Increase in protectionist tariff
2. the expansion of the railway network
3. to simulate immigration -
Period: to
The second phase of industrialization
The second phase of industrialization was mainly the exploitation of natural resources by and for the American market, Quebec's market changed to an exterior one. In 1914 to 1918 (World War I) Canada's economy went up becuase they were the main suppliers (war supplies and food) for allied troops. -
New York Stock Market crash
After Wolrd War I, surpluses like military equipment and food packages accumulated in warehouses so to help that situation the companies started to fire lots workers to produce fewer things. -
Period: to
The Great Depression
In 1929, the New York Stock market Crash affected the economy of the countries in the modern world. Many banks went bankrupted and a number of unemployed workers continued to grow for 10 years. -
Creation of Hydroelectricity
The Quebecers became aware that the economy was controlled by foreign companies. So to be less dependent on the foreign companies the government decided to buy most the private electric companies and integrated them into Hydro-Quebec. -
OPEC
The organization of petroleum exporting countries (OPEC) decided to raise the price for oil causing the economic slowdown in the Western world. -
NATFA
The recession OPEC created in Canada the government wanted to increase the trade because Canada wasn't sufficiently large to sustain true economic growth. So the government turned to the United States and the agreement was called CUSFTA, however, Mexico wanted to be included in this trade. So, the USA and Canada changed the trade to North American Free Trade Agreement called NAFTA.
