Economy and Development

Algonquian Division of Labour.

Oct 27, 1500

In Algonquian faith, the females of the tribe were responsible for gathering food, fishing, hunting small animals, cooking, butchering, housekeeping, crafts and care and education of children. The men were in charge of hunting, fishing cutting down trees, construction, woodworking, trade and war.

Iroquoian Division of Labour

Oct 27, 1500

In Iroquoian faith, the females were responsible for gathering food, fishing, hunting small animals, cooking, butchering, housekeeping, sewing and care and education of children. The men were responsible for clearing the land, construction seasonal hunting and fishing, crafts, trade and war and diplomatic relations.

Inuit division of Labour

Oct 27, 1500

In Inuit faith, the females were responsible for gathering food, fishing, hunting small animals, cooking, butchering, housekeeping sewing and care and education of children. The men were responsible for hunting, fishing, construction and making weapons, tools, boats and sleds. Since there weren't as many animals in the colder regions, the Inuit had to be resourceful with their animals. Therefore, they would use as much of the animal as possible.

Barter Sytem

Oct 28, 1500

Aboriginal groups used the Barter system to trade goods. The Barter system is where you trade goods without using money, just trade goods for goods .These goods were transported with the Natives when they travelled along traditional routes. This way, people could get resources that they don't have in their area. The Natives used Snowshoes, Canoes and Walking for transportation .

The significance of trade among Amerindians

Oct 28, 1500

Trade was only a way for the Natives to get their basic needs. They had no interest in accumulating wealth and making profit. Rather, they preferred to share their goods and resources. Trade was a time of peace and no violence occurred for the most part. Native groups put their differences aside for trade because it was essential for their survival. Trade was essential for building and maintaining relationships between nations.

Economy

Period: Oct 28, 1500 to Oct 31, 2016

Fishing in North America

Oct 30, 1550

In the 15th and 16th centuries, many Catholic Europeans had periods of fasting prescribed by the Church. On these days, they were not allowed to eat meat but could have fish. Therefore, fish quickly became a popular replacement. Explorers like John Cabot found out that of the coast of North America, there were a ton of fish and fishers quickly took control of these waters.

The Fisheries

Oct 30, 1551

To preserve the fish for the long trips back to Europe, Europeans would use one of the two methods: green fish or dried fish. Green fish was preserved in salt. For dried fish the fishers built wooden structures on the shore and arranged the fish on them. The sun the and wind would dry the fish. Since the European fishers who used the dry fish method had to go ashore, they had the opportunity to meet the Amerindians.

Interracial trades

Oct 30, 1552

With the fisheries, Europeans started interacting and trading with the Amerindians. Native peoples valued European objects such as metals and beads because they were considered useful. In exchange, Amerindians traded mostly furs, which fishers could easily sell in Europe. This was a second market for the European fishers. French merchants soon realized that the fur trade is a new way to get rich. Therefore, the french state allowed merchants and ship owners to invest money to develop trade.

The Charter Company System (Part 1)

Oct 30, 1601

To bring order to the fur trade, the king started giving monopolies on the fur trade to individuals in exchange they have to protect France's rights to the territory. From 1601 to 1627, many people received monopolies but little settled since it wasn't seen as profitable. Faced with this problem, the state made it a requirement that the holders monopolies populate the St Lawrence Valley.

the Company of one Hundred Associates (Part 2)

Oct 30, 1627

In 1627, the Company of one Hundred Associate was created. They were hundred shareholders that invested capital. Each shareholder received a share of the profits from fur trade. In exchange, they were required to populate and manage the territory. However, France and England were at war at the time and an English fleet intercepted the first ships to New France, which were carrying almost 400 colonists. Due to this, the company suffered big financial losses and was unable to settle the territory.

King Louis XIV

Oct 30, 1663

King Louis XIV began his reign in 1661 as King of France. A major thing he did was that he ended the Company of One Hundred Associates in 1663. King Louis wanted to gain control of economic activities in New France and assert territorial claims in North America. Therefore, he set up crown corporations, companies that were accountable to him and gave him profit. However, this didn't last long as it ended in 1674.

Hudson’s Bay Company

Oct 30, 1670

In 1659, after the recent peace between the French and Iroquois, two coureur de bois decided to go to the territories northwest of the Great Lakes to trade with a group of Aboriginals they knew well. The two explorers went to France with detailed information about the territory and high-quality furs but were unable to convince the French authorities to give them money. Therefore, they decided to go to the English who funded an expedition. This lead to the creation Hudson’s Bay Company in 1670.

Fur Trade in A British Colony (Part 1)

Oct 29, 1763

In 1763, the Britsh took over New France and the fur trade fell into the possession of the British. The fur trade continued to be an important economic activity after the Conquest and anyone could get involved in the fur trade. Therefore, British merchants increasingly participated in the fur trade. However, it was the Canadiens who did the fieldwork, since they knew the territory and had the knowledge necessary for trading with the Aboriginal people.

Fur Trade in A British Colony (Part 2)

Oct 30, 1763

The Canadiens were excluded at first from the fur trade since they established the borders of the Province of Quebec in 1763. The territory around the great lakes was reserved for the Aboriginal peoples and only those with permission from the British crown cold go there to get furs. But in 1774, the British Parliament adopted the Quebec act, expanding the territory to include the region around the Great Lakes. Therefore, competition grew.

Fur Trade in A British Colony (Part 3)

Oct 31, 1779

In 1779, a few Montreal merchants established the Northwest company as a way to participate in the trade. Their main goal was to compete against the Hudson Bay Company but merged In 1821. However, the fur trade was already on the decline due to the timber trade and had diminished the hunting grounds. That as well as the union of the two companies hurt the relationship with the natives. They then had to depend on only one buyer.

The Timber Trade

Oct 30, 1806

In 1806, Great Britain was at war with France. In order to prevent the British from obtaining supplies, Napoleon imposed a continental embargo. This forced Britain to find a new source for forest products. They turned to North America. The needs of the mother country encouraged the building of new shipyards. The growth of maritime transport also led ton bigger imports of woods for barrels. In addition, woods was used in the production of potash and pearlash for the British textile industries.

Appeal of the Timber Trade

Oct 31, 1806

The timber industry was profitable to many people. Seigneurs who saw that they could gain revenue by exploiting the forests located in their territory and invested in the construction of sawmills. Also, farmers with land that wasn't doing well could cut down trees on their land. The timber trade helped the development of new regions which were crossed by important waterways used for timber transportation and for fueling sawmills. Also, cutting cleared land quickly which encouraged colonization.

Free trade (Part 1)

Oct 30, 1846

In 1846, Britain ends its protectionism policies and addopts a free trade policy (An economic system in which customs duties on trading are partially or entirely abolished between participating countries.) This meant that the colonies would have to compete with international competition and find means to ensure their economic prosperity. The removal of preferred taxes drove the colonies to diversify their markets and find new trading partners.

Free Trade (Part 2)

Oct 30, 1854

British north America now needed to find a new market. Therefore, they focus on trading with the USA. This lead to the colonies signing the Reciprocity Treaty in 1854 in order to facilitate trades with the US. According to this treaty, raw materials and manufactured products could be traded between the countries without duties. This benefited Canadian farmers, who were then able to further diversify their crops. It also increased investments from the American colony. This lasted for 10 years.

Factors leading to a Confederation

Oct 30, 1867

In 1867, the British colonies in North America forme a confederation. Four factors lead to this. 1. The colonies would have to develop trade relations with one another due to international competition. 2. The first phase of industrialization strengthened economic ties between the colonies, since they now had access to a vast transportation network. 3. In the 1860s, the US wanted the territories situated in the west of United Canada. 4. In 1866, the US cancelled the Reciprocity Treaty.

The First phase of Industrialization

Oct 30, 1870

In the late 19th century, industrialization came to Quebec. There was a change from the old style cottage industry, where skilled craftsmen used slow costly methods to produce goods, to factory production. Factories employed cheap, unskilled labor to operate machinery that mass produced goods quickly at a low cost. This made more product but its was boring and dangerous.

Factors That Encouraged Industrialization

Oct 31, 1870

Several factors encouraged industrialization in Quebec. People moving to the cities from rural areas and immigrants arriving from Europe provided cheap labor. The St Lawrence river and the canals were good transportation systems and used for water energy. Raw were plentiful. The new Dominion of Canada provided an enlarged internal market and the tariffs enacted with the National Policy protected industries from foreign competition.

The National Policy

Oct 30, 1873

In 1873, The prices of raw materials collapsed and exports fell resulting in an economic crisis. Prime Minister John A MacDonald tried to correct the situation by proposing the National Policy in 1879. It was structured around three main objectives: 1. Protect new Canadian industries through a protectionist tariff policy. 2. Encourage the expansion of the railway network in order to link the provinces. 3. Implement measures to stimulate immigration in order settle land in the West.

The Manufacturers Act

Oct 30, 1885

In 1885, the manufacturers act included causes which provided for the protection of the health and security of workers. The act also established a minimum age for factory workers of for boys(12) and or girls(14). It also forced employers to limit work hours to 72.5 hours per week for men and 60 hours for women. the creation of labor organizations was due to the fact that workers were often powerless. Workers wanted better working/living conditions and used strikes and lockouts to get it.

Second Phase of Industrialization

Oct 30, 1900

From 1900 to 1929, Canadian industries experienced growth as a result of the protectionist tariff policy. The second phase of industrialization was characterized by the quick expansion of industrial territories due to new energy sources: hydroelectricity and oil. The success of Canadian and Quebec companies depended on their ability to compete against International companies. To be more competitive, they had to lower their production costs by establishing themselves close to sources of energy.

Great depression of the 1930s

Oct 30, 1929

During the 1920s, Canadian economies experienced a period of prosperity due to Europe investing in reconstruction after World War 1 leading to surpluses and overproduction. In an effort to fix the situation, companies cut their rate of production and laid off workers, which lowered the value of the companies on the stock market. This lead to investors stopping to trust their capital to banks. Deprived of money, banks went bankrupt. This sequence of events resulted in the crash of 1929.

State Intervention

Oct 31, 1929

In 1929, the federal government implemented a protectionist policy. They hoped to encourage the growth of the domestic market by blocking international competition. This only worsened the situation, since it decreased foreign demand for Canadian products. In order to decrease the impact of the economic instability governments gradually implemented social and economic measures.The idea that the state had to intervene in economics became more and more favorable.

War Production

Oct 30, 1940

In 1940, The federal government enacted the National Resources Mobilization act to help with the war effort. This act authorized the government to intervene in several sectors of the economy and to request all available resources. It regulated the supply of certain products necessary for war production and raised taxes. The federal government also introduced Victory Loan Bonds. Consumers could earn profits on their savings while lending money to the government to help out with the war effort.

Post War Years

Oct 30, 1945

From 1945 to 1960, There was Economic prosperity. the population participated in the booming production and consumption movement. This Increased purchasing power led to a higher standard of living. The tertiary sector developed and employed more of the labor force. This eventually lead to the tertiary sector unionizing. As well, global demand for raw materials stimulated economic activities tied to the exploitation of Quebec’s natural resources.

Economic Nationalism

Oct 30, 2016

Scared on American Imperialism, Quebec decided to take control of their own economy. In 1962, the Government of Quebec bought out most of the private electricity companies and merged them into Hydro Quebec in order to nationalize electricity. Since the need for electricity is constantly growing, Hydro-Quebec quickly played an important role in the province’s economic development.