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Oct 24, 1500
First Occupants Economy
The First Occupants did not have notions of property or ownership.
They used the barter system. This system was subjective, two parties would negotiate the value of each of their objects and trade them accordingly. They would trade with their families and other tribes with whom they were allied. The Amerindians travelled the territory using canoes and snowshoes. The economic roles were divided based on gender. Men were hunters, women were farmers, and the elderly looked after the children. -
Fur Trade
Insufficiently dense population, required the Natives alliance to do the hunting.
Exploration and enlargement of territory to search for more and more furs. New France was constantly expanding.
Establishment of trading posts: foundation of the towns of Quebec and Three Rivers. -
Chartered Companies
The charted company system was based on privileges and obligations. Privileges such as: companies (100 associates) were allowed to be the only ones with rights to the fur trade. Obligations such as: they were supposed to administer and develop the colony. Companies prioritized on the fur trade instead of developing the colony so the population of New France remained small. -
The French Regime: New France's Economy
Economic Activities:
Fur Tade was still the number one most profitable industry but fishing grounds were still profitable. In the late 17th century the overproduction of furs causing the fur trade to decline. The economy then tried to focus on agriculture. Triangular trade developed. -
Attempts to Diversify the Economy
The triangular trade was a multilateral system of trading in which a country pays for its imports from one country by its exports to another. There was simply too much demand for the fur trade and not enough people with different skills to diversify this necessity. -
Mercantilism
Mercantilism is theory of financial organization. European Countries thought it was essential to possess as much gold as possible, so, you would accomplish this by exporting more than you import. Take in natural resources from colonies you had control over and sell finished goods. -
Timber Trade
Blockade by Napoleon in 1806 and the rise in the demand for timber. Creation of the Bank of Montreal in 1817 to allow people to invest and obtain credit. New jobs were created such as: lumberjack, loggers and sawmills. Improvement and development of transportation such as: canals, railroads, steamships. -
The Reciprocity Treaty
Trade with Britain was doing well until Britain ends it’s preferential/t treatment with Canada in order to explore new markets thus establishing Free Trade (no customs nor duties). Canada needed a new trade alliance so they signed a Reciprocity treaty with the USA in 1854 . This treaty meant customs/duties between the two countries was temporarily ceased. -
National Policy
In 1878, John A. MacDonald created the National Policy. Goal: wto stimulate the economy. -Increase Custom Duties: Protect/Promote Canadian Industries by
ensuring Canadians bought Canadian goods.
-Build Railways: The Canadian Pacific Railway was to run coast to coast, unify people, increase trade.
-Encourage Immigration: Especially in Western Canada, bigger population so the market could get bigger as well -
First Phase of Industrialization
There was a change in the old style where skilled craftsmen used slow and costly methods to produce goods. Now many factories were built. They employed cheap, unskilled labour to operate machinery that mass produced goods quickly at low cost. -
Urban Expansion
The agriculture sector was dying off. Farmers were making less than your typical Quebecers. Since the factories were in the urban areas this caused a rural exodus to the cities so farmers could get jobs in the factories. Consequence: Development in the cities, concentration of services (transportation, hospitals, education, etc.), construction of infrastructures (aqueducts, sewers), development of suburbs . -
The Great Depression Pt. 1
Companies were producing more than they were selling causing them to have a large inventory. This would cause the prices of the Stocks to go down. Since the stocks were going down, lots of people began selling there shares causing the stock market to crash in 1929. Since companies shares were going down they had to fire lots of there employees. Now that everyone was unemployed, no-one could afford to purchase these companies products. -
The Great Depression Pt. 2
All the money that people used in the stock market was borrowed money from the bank. Since every was unemployed and broke then they would be unable to pay back the bank. Since the bank had no more money people were unable to access there funds from the banks. Everyone had lost all there money causing people to commit suicide, this was called "Black Thursday". -
Solution's to the Depression
Public works projects to boost economy, work camps, direct aid and encouraged farming. Finally the start of WWII in 1939 led to a huge economic boost and the depression ended. -
World War 2
Canadian factories manufactured army uniforms and weapons for the war. The women worked in the factories while men were at war. World War II got us out of the Great Depression, stimulated the economy, and saw women returning to the workplace. Women working also created a double income for their families. -
Post WWII
After the war the economy actually began to do well. Now that women are introduced to boring, it creates 2 incomes for families creating a steadier financial situation. Those who's homes and businesses got destroyed in the war immigrated to Canada -
Workers Demands
Workers would join forces and create unions to negotiate on there behalf. Demands: working conditions, living conditions, salary, etc. If negotiations between unions and employers were not satisfying for the unions then workers would go on strike to put pressure on their employers. Employer were not fond of unions because now they have to pay for better conditions and pay more for salary. -
The Quiet Revolution
The Quiet Revolution began in Quebec in 1960 with the electoral defeat of the Union Nationale by Jean Lesage and the Liberal Party. It can be best described as a rapid and far-reaching process of social, economic, and political reform in Quebec from the early to the late 1960s. It can be called the beginning of the welfare state, where we see a massive increase in government intervention. -
Increasing Effects of Globalization.
Canada entered into trade agreements with the United States (Free Trade agreement of 1988) and Mexico (NAFTA). This demonstrates the progression of globalization.
