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1500
Barter System
The aboriginals used the barter system. They traded for resources the couldn't find on their territory. Through trading, they also made alliances that were both beneficial economically and politically. This trade network was applied all over the North American continent. -
1500
Fisheries
In 1497, the Catholic church band meat for five months (religious reasons) so the demand for fish was extremely high. So the Europeans went to Labrador and Newfoundland to fish (cod) and then brought the fish back to France. The cycle continued for years. -
Mercantilism
Mercantilism is something that was introduced in 1600 with the fur trade. When they got raw furs, they wanted finished product but France wanted money. Therefor, when New France had raw materials, they sent it to France, France made them finished products, then sold them back to New France. -
Founding of Quebec
In 1608, (start of the french regime) Samuel de Champlain sailed up the St. Lawrence River with 26 recruits and discovered todays Quebec and colonized new territories, benefitting the economy. -
The company of 100 associates
The company of 100 associates were one hundred men financed by king Louis the 14th. The company was granted a monopoly, which meant that they would manage the fur trade for the New France . There was one condition and it was to populate the new colony and they ended up not succeeding and the monopoly was taken away because there were several things that were hard to do and too costly for the company of 100 associates. -
Hudson Bay Company
Radisson and Groseilliers explored Hudson Bay where they attempted to develop a fur trade. France refused to help them establish it so the men asked Britain for help (they accepted). Later on Britain helped Radisson and Groseilliers found Hudson's Bay Company in 1670. -
Triangular Trade
The Triangular trade allowed France to get rich by taking advantage of the natural resources of its colonies and by selling manufactured goods to its colonies in exchange. Boats could not leave a port empty-handed and must be full of products or resource. -
The Beaver Crisis
In 1690, the beaver economy was in crisis. Wearing fur clothing became an old trend and the demand for beaver fur went down by a lot. Beaver furs began to accumulate in warehouses in France. The king then ordered a slow down of the fur trade, however, it started up again after in 1715. -
Expansion of territory
Fur was becoming more popular so they needed more of it. To get what they wanted, they would have to expand their territory. They expanded to the Great Lakes, the Prairies to the Rocky Mountains, Hudson Bay, the Ohio Valley, the Mississippi River and Louisiana. -
British Merchants Control The Fur Trade
In 1760, Scottish, English and American merchants settled in Montreal to practice the fur trade. Those countries were easily able to take the fur trade from the french as they had much better financial position to do so. -
Napoleon's Blockade
The British could no longer import timber from Europe because of Napoleon's blockade to main land Europe. British merchants invested in the logging industry to encourage the timber trade. -
Timber Trade > Fur Trade
The timber trade replaces the fur trade and became the main source of the Canadian economy. This will cause the development of new regions to be able to get more timber. It will also supply new jobs like loggers and workers for the sawmills which farmers would d during the winter -
The Corn Laws
The Corn Laws were tariffs (taxes) and restrictions that were made on imported food in Great Britain between 1815 and 1846. They were made to keep food prices high to favour domestic producers, and represented British mercantilism. -
Bank of Montreal
The Bank of Montreal was made to the British merchants the privilege to have access to credit and investment. They could use this credit to grow their business and eventually to industrialize into bigger companies and made more money later on. -
Lachine Canal
The Lachine Canal was built in Montreal (Saint-Henri) on the St. Lawrence River. It was used for importing and exporting goods. It was very beneficial for Quebec's economy and this Canal helped develop the economy. -
Reciprocity Treaty
The Reciprocity Treaty was signed in 1854 because of New-France needing a new trading partner. New-France and the US signed a treaty to allow trade between the two countries. Nine years later, the treaty ended which lead to Canada needing a new trade partner. -
First phase of industrialization
During the first faze of industrialization, New France depended on coal and steam engines as a source of energy. A railway system and canals was build during this phase. Workers during this time worked in horrible conditions with low salaries. -
The Dairy Industry
Agriculture developed and modernized a lot with industrialization, because farmers started using electric equipment on their farms which really helped speed up the production. This helped dairy farming a lot and the farmers mostly produced produced milk, butter, cheese, and cream. -
Second phase of industrialization
The second phase of industrialization mainly depended on hydroelectricity and oil. This source of energy really helped out industries such as metal works and the variety of electrical consumer goods increased which was great for the economy. The environment of their work space got a lot cleaner and safer during this phase -
The Great Depression
From 1929-1939, the great depression was the reason for major economic consequences. Many companies and families went bankrupt. This period marked the beginning of state intervention in the economy. -
Government action on great depression
Governments financed major public works, work camps, direct aid such as food vouchers, and encouraged farming. Even after all the effort that the government put in, the Second World War that really solved the economic crisis because it opened up jobs wen men went to work, and gave jobs as soldiers to the unemployed. (1929-1939) -
The Quiet Revolution
The quiet revolution started in Quebec after the defeat of the Union National. It brought changes to Quebec, agriculture became the main economic practice. This allowed farmers to make more money and become a more popular job. -
Hydro-electricity (nationalized)
During the second faze of industrialization, the government of Quebec decided to buy most of the private electric companies and combined them to make Hydro-Quebec and nationalized it. -
Oil Crisis
The energy crisis leads to an increase in the price of oil. More and more unemployments of people are happening due to the lack of this important resource. In 1981 this crisis finally ended. -
North American Free Trade Agreement
The North American Free Trade Agreement (NAFTA) was a treaty that was signed by the Canada, the US, and Mexico. It allowed free trade to help the economy of the 3 countries.
