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Oct 28, 1500
Aboriginal Trading System
the different nomadic and sedentary Aboriginal groups used the barter system, that is, they traded goods based on one's needs. These goods were transported, often great distances, along traditional routes, taken with them as they travelled. -
Oct 28, 1550
European Explorations
The majority of Europeans were Catholics and observed fasting periods prescribed by the Church. On these days of abstinence they were not allowed to eat meat, but could have fish. In some parts of Europe there could be more than 100 days of abstinence every year. Therefore, fish quickly became a popular protein. Every summer these men would set up temporary camps on the shores and dried the fish that they would then take back to Europe -
Oct 28, 1580
North America’s Role in the European Economic System
The French realized that the beaver pelts that fishers exchanged with Aboriginal peoples had far higher value in Europe. The fur trade was now seen by French merchants as a new way to get rich. The French state therefore allowed merchants and shipowners to invest large sums of money in building a network of fur trading posts in the colony. Lively competition arose, and merchants demanded that the state granted them a monopoly -
French Regime
it was the fur trade that would lead the French to settle permanently in the territory as of 1608. In 1663, the French state took over the administration of the territory. At the end of the 17th century the mother country adopted policies designed to increase the colonies population and diversify its economy. The French state wanted to create a market in New France where it could sell its finished products and exploit the colonies resources. -
Commerce and Exploration
the French sent many explorers and they built trading posts and forts on the banks of main waterways. These settlements served as warehouses, trade sites and military bases. Some administrators, such as Jean Talon, were in favour of this expansion. They saw it as a way to guarantee French domination of the fur trade, and helped contain the expansion of Britain’s Thirteen Colonies. This expansion served to increase business between the French. -
Commercial and Craft Activities
Beginning in the 17th century, craftspeople first settled in the cities. As the population grew, a rural market developed. In the cities, a wide range of occupations emerged, such as wigmaker, gold and silversmiths and coppers. In the 18th century merchants began to settle in rural areas. Their stores offered a variety of products imported from Europe. Agricultural products that the merchants received as payment were often sent to the cities -
Company of 100 associates
In 1627, the Company of One Hundred Associates was created. The Company was an association of a hundred shareholders that invested startup capital. Each shareholder was to receive a share of the profits from the fur trade. In exchange, The Company was required to populate and manage the territory. France and England went to war against each other. An english fleet intercepted the first ships to New France. The Company were unable to the settle the territory. -
King Louis XIV
King Louis XIV began his reign in 1661, and in 1663 he dissolved the Company of One Hundred Associates. To gain control of economic activities in New France, and assert territorial claims in North America, Louis XIV set up crown corporations, companies that were accountable to him. -
Hudson's Bay Company
Two coureurs de bois decided to go to the area to trade with a group of Aboriginals they had come to know well.They returned with detailed information about the territory and brought back high-quality furs, but were unable to convince the French authorities to finance a commercial expedition to Hudson Bay, they therefore decided to offer their services to the English crown, which funded a maritime expedition to Hudson Bay in 1668, thus creating the Hudson’s bay Company (HBC) in 1670. -
Shipbuilding and Ironworks
In order to diversify the colony’s economy, the French state encouraged and subsidized two industrial sectors during the 18th century: shipbuilding and ironworks. The naval industry led to the creation of other industries related to boats, such as tar, rope and barrels. The availability of iron ore in the Trois-Riviere region was the basis for the establishment of the Saint-Maurice ironworks. Like the shipyard, the creation of ironworks lead to related industries. -
British Regime
Following the Conquest and the signing of the treaty of Paris in 1763, the British took possession of the former French colonies in North America. The colonies primarily served as a source for the supply of raw materials. -
Competition Between 2 Trading Companies
In 1774, the British Parliament adopted the Quebec Act (1774), expanding the territory to include the region around the Great Lakes. As the trading territory expanded, competition for furs grew. In 1779 a few Montreal merchants established the Northwest Company (NWC) as a way to participate in the competitive trade. The company consisted of English, Scottish and Canadiens merchants whose main goal was to compete with the Hudson’s Bay Company. -
Changes in Agriculture
After the passing of the Corn Laws in the early 19th century, tariffs (taxes) encouraged the growing and export of wheat. In addition to increasing numbers of immigrants and new technologies, the farm system was pushed to diversify. -
Free Trade
An economic system in which customs/duties on trading are partially or entirely abolished between participating countries. In 1846, Corn Laws were abolished. In 1849, the Navigation Acts were also abolished, now merchant ships, regardless of their country of origin could have access to British ports. The abolition of protectionism drove the colonies to diversify their markets and find new trading partners. British North America now needs to find new markets. -
Urbanization
Movement to urban centres because of new demand to unskilled labour. Working class neighbourhoods were created close to factories and living conditions were often hard there. Most working-class dwellings were made of wood and did not have running water, electricity and toilets. Moreover, these poor working conditions, which were endured by unskilled workers, would drive them to unite in order to demand improvements to their situation -
Reciprocity Treaty
Lasts 10 years, customs and duties did not exist. Now provided access to a large market close by. According to this treaty, raw materials or primarily manufactured products (flour, sawed wood) could be trade between the countries without customs duties. -
Economy Based on Timber
Napoleon sets up a naval blockade in 1860 preventing Britain's access to timber. This leads to the creation of new jobs like lumberjack, mills, logger. Some seigneurs who saw that they could gain revenue by exploiting the forests located in their territory. -
Contemporary Period
Exploitation based on each “period” of industrial development (agricultural, forest, mining, hydroelectricity). Source of capital shifts from Britain to American in different economic sectors, leads to the birth of crown corporation -
Economic Factors Related to the Confedeartion
In 1867, the British colonies in North America joined together to form a confederation.
The colonies would have to develop trade relations with one another in order to cope with international competition.
The first phase of industrialization, which began in the 1850s, strengthened economic ties between the colonies, since they now had access to a vast transportation network.
In the 1860s, the United States wanted the territories situated in the west of United Canada. -
Creation of Railways
When Macdonald came to power in 1878, he made it a priority to complete the Canadian Pacific Railway (CPR) line
The canadian government paid many subsidies to the companies in the charge of developing the railway
In spite of obstacles that slowed down its construction (labor shortages, uneven terrain, disputes with first Nations peoples), the CPR was completed in 1885 and became essential for the colonization of the territory in the west -
First Phase of Industrialization
Industrialization came to Quebec in the last third of the nineteenth century. During this period 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 labour to operate machinery that mass-produced goods quickly at a low cost -
Development of the Dairy Industry
Dairy products was the agricultural sector that experienced the greatest progress after 1880. In addition to milk, farmers produced butter, cheese, and cream. In 1890, more than 80% of cheese production was intended for export, whereas butter mainly sold in the local market. To support the growth in the dairy industry, the government encouraged the establishment of specialized schools in areas like Saint-Denis -
Manufacturer's Act
In 1885, the manufacturer's act included clauses which provided for the protection of the health and security of workers
Minimum wage for factory workers of 12 years old boys and 14 for girls, limit of 72.5 hours per week and 60 hours for women, led to the creation of labor organizations. In 1921, in order to counter the influence of foreign unions, the Catholic Church decided to support the establish of the Confederation of National Trade Unions -
Second Phase of Industrialization
This second phase of industrialization, which lasted from about 1900 to 1929, was primarily characterized by the quick expansion of industrial sectors which had developed due to new energy sources: hydroelectricity and oil. Several factors contributed to the development of Canadian and Quebec companies. Their success depended on their ability to compete against american and British companies. To be more competitive, they had to lower their production costs. -
The Great Depression
Surpluses accumulated in the warehouses. Laid off workers, which lowered the value of the companies on the stock market.Investors stop investing. The root of the crash was an overproduction problem. It began a recession The effects of the stock market crash were felt for almost a decade. Most sectors affected but wheat was hit really hard. Modernization of agriculture cause farmers to upgrade on credit/loans. -
War Production
National resources mobilization act in 1940 regulated the supply of certain products necessary for war production and it raised taxes. Victory Loan Bonds, by contributing to this program consumers could earn profits on their savings while lending money to the government, which it invested in the war effort.In Quebec, this rapid expansion was seen especially in textiles, food processing and iron and steel, as well as the extraction and processing of natural resources -
Social Change and Mass Consumption
After 1945, tertiary sector employees, who were increasingly in number, unionized. As a result they could take advantage of several social benefits. These social benefits, together with the savings accumulated from Victory Loan Bonds, increase Quebecers purchasing power at a time when a consumer society was emerging. The mass media which had a growing place in the lives of quebecers, encouraged the population to consume through advertising. -
Public investment in the 1960s and 1970s
Quebec experienced major political, social, cultural and economic changes: this was known as the Quiet Revolution
Quebec becomes a welfare state: government looks out for the citizens because the government pumped funds into the economy and enhanced the purchasing power of consumers, while also creating jobs. -
Economic Nationalism
The fear of american imperialism leads to new economic nationalism. In 1962, the government of Quebec bought out most of the private electricity companies and integrated them into hydro Quebec in order to nationalize the production and distribution of electricity. Since the need for electricity constantly increased, Hydro-Quebec quickly played an important role in the province's economic development.
