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Economy and Development

  • 1497

    Discovery of Newfoundland

    Discovery of Newfoundland
    Newfoundland is discovered by John Cabot.
    Trading between the Natives and Europeans begins. Europeans fish cod.
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    French Regime

    French rule over New France. Ends with the Seven Years war and the Treaty of Paris.
  • Company of One Hundred Associates

    Company of One Hundred Associates
    The foundation of the Company of One Hundred Associates by Cardinal Richelieu. The first company to hold a monopoly over New France. Financed by about one hundred French shareholders.
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    Compagnie des Habitants

    A company founded by merchants in New France. Held the monopoly for a period of time.
  • Destruction of Huronia

    Destruction of Huronia
    The Iroquois are running out of fur, so they attack and destroy Huronia. This forces the French to get straight into Algonquin territory to get their fur. One of the causes of the expansion of the French territory by forcing them to go further and further out.
  • King of France takes control

    King of France takes control
    The companies lose their monopoly and their rule over New France. The King takes control and places Jean Talon as intendant.
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    French West India Company

    A company founded by Jean-Baptiste Colbert (a minister of Louis XIV). Took over the fur trade for a period of time.
  • Hudson's Bay Company

    Hudson's Bay Company
    The Hudson's Bay Company was founded. It was the largest producer of beaver furs under the British rule. It is currently the oldest company in Canada.
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    Fur crisis

    The demand for furs and beaver pelts were decreasing. The French continued to trade and started up filling warehouses with unused fur. The King ordered a slow down on the trade.
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    British Military Rule

    British military/unofficial rule over New France. During the Seven Years war, when the British military invaded and controlled New France.
  • Change of Empire

    Change of Empire
    New France is given to the British in the Treaty of Paris, as part of the end of the Seven Years War.
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    British rule

    The official British rule over New France (now the Province of Quebec). Begins with the end of the Seven Years war and the Treaty of Paris.
  • British merchants immigrate

    British merchants immigrate
    The first wave of British merchants immigrating to Quebec, over 200 will come to establish themselves. These are the first people to be called "Montrealers".
  • NorthWest company

    NorthWest company
    The founding of the NorthWest company, the Hudson's Bay Company's biggest rival in the fur trade.
  • Rise of the timber trade

    Rise of the timber trade
    The French impose a continental blockade on England, cutting off it's trade with Europe. To get more wood, Great Britain turns to Canada. It implements preferential rates favouring wood from United Canada. This is what started the timber trade and led it to it's eventual rise as Canada's top export.
  • British "Corn Laws"

    British "Corn Laws"
    Great Britain adopts the "Corn Laws", granting preferential tariffs on products coming from Quebec. This is the beginning of British mercantilism for Quebec.
  • Bank of Montreal

    Bank of Montreal
    The Bank of Montreal is founded. It's Canada's first bank. It's founded to store the money of the people who became rich via the timber trade, who no longer felt secure keeping their money at home.
  • Fusion of NorthWest company and Hudson's Bay company

    Fusion of NorthWest company and Hudson's Bay company
    Under pressure from the British government, the NorthWest company and the Hudson's Bay Company fuse under the name of the Hudson's Bay Company.
  • Lower Canada's agricultural crisis

    Lower Canada's agricultural crisis
    The beginning of Lower Canada's agricultural crisis. As of this point, farmers can either barely or not even survive on their own agriculture, and Lower Canada begins to buy their wheat from Upper Canada. The population of Lower Canada have to leave the farms to live in cities or colonize new lands.
  • Abolishment of "Corn Laws"

    Abolishment of "Corn Laws"
    The Corn Laws were abolished. This is the end of mercantilism for Quebec.
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    First phase of industrialization

    The first phase of industrialization. Focused in big cities like Montreal and Quebec, it required non-skilled workers. Most of the investments came from the British, and most of the products were exported. Workers had horrible living and working conditions. Energy came from steam (coal).
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    Reciprocity Treaty

    The Reciprocity Treaty is in effect. This grants free trade between the United States of America and United Canada.
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    Second phase of industrialization

    The second phase of industrialization. Required skilled workers. Focused in less developed areas, where we could find more natural resources. Used hydroelectricity for energy. Most of the investments came from the US. Creation of unions. Banning of child labor.
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    World War II

    World War II was important for Canada because it let us get out of the Great Depression (by selling tanks, foodstuffs, and weapons to the Europeans) and it led us on the path to becoming fully independent. We fought with the Allies, as we were still partly under British rule.
  • North American Free Trade Agreement

    North American Free Trade Agreement
    The North American Free Trade Agreement (NAFTA) is renegotiated to include Mexico, spreading free trade through all three countries of North America.