Economy and development

Timeline created by TheFirstGabster
In History
  • 1500

    Amerindian's trading system

    Amerindian's trading system
    Nomadic and sedentary Aboriginal communities used the barter system because the different Aboriginal people depended on each other to supply goods that they could not find in their own territory.
  • Mercantilist policies

    Mercantilist policies
    New France was under the rule of the French regime because of this the development of their economy is on mercantilism. Which means the New France (a colony) is to supply France (the mother country) with their raw materials for the mother country to obtain riches.
  • Economy of New France before 1663

    During the French regime, agriculture was the activity that occupied most people. It was a subsistence activity.
  • Hudson's Bay Company

    Hudson's Bay Company
    The company built trading posts throughout the entire region to engage trade with the Cree nation.
  • Triangle trade

    Triangle trade
    The French organised commercial trades between France, New France and the West Indies. The purpose of the Triangle trade is to make France richer by taking advantage of the ressorces of the colonies, and by selling manufactured goods to its colonies.
  • Royal Shipyards

     Royal Shipyards
    Jean Talon founded a naval shipyard to export the colony's surplus to other French colonies
  • The establishment of Forges du Saint-Maurice

    The establishment of Forges du Saint-Maurice
    Forges du Saint-Maurice was establishment because of the deposit of iron in that area which was used to make parts for the navy ships, wood stoves, cooking pots, ploughshares and other ploughing equipment.
  • Completion of the Chemin du Roy

    Completion of the Chemin du Roy
    Gilles Hocquart created a road to help the economic trade between the main cities (Montreal, Quebec and Trois-Rivieres)
  • British merchants

    British merchants
    The British merchants took control over the fur trade in their new colony. (They control the main source of money the colony has).
  • The start of the Timber trade

    The start of the Timber trade
    The lumber industry became the engine of the Canadian economy because Great Britan could not purchase any timber from Europe due to the continental embargo.
  • The Corn laws

    The Corn laws
    The Corn Laws guarantee preferential tariffs on the British market to cereal merchants, were abolished
  • The Bank of Montreal

    The Bank of Montreal
    The timber trade gave so much money to the Canadians that the Bank of Montreal was founded
  • The beginning of the agricultural crisis in Lower Canada

    The beginning of the agricultural crisis in Lower Canada
    Great Britain stops buying wheat from Lower Canada. So the farmers start to leave their farms and start to settle in the city or to colonize new lands to get money.
  • Railroads

    Railroads
    The railroad helped the economy because it was easier, faster and safer to transport goods to other places.
  • The economic crisis

    The economic crisis
    The Canadian market was filled with good from the USA however, that made the manufacturers from the colony poor because no one was buying products from the colony.
  • National policy

    National policy
    Prime Minister John A. Macdonald tried to eliminate the economic depression by creating the national policy. Which is,
    1. Increase in protectionist tariff
    2. the expansion of the railway network
    3. to simulate immigration
  • New York Stock Market crash

    New York Stock Market crash
    After Wolrd War I, surpluses like military equipment and food packages accumulated in warehouses so to help that situation the companies started to fire lots workers to produce fewer things.
  • Creation of Hydroelectricity

    Creation of Hydroelectricity
    The Quebecers became aware that the economy was controlled by foreign companies. So to be less dependent on the foreign companies the government decided to buy most the private electric companies and integrated them into Hydro-Quebec.
  • OPEC

    OPEC
    The organization of petroleum exporting countries (OPEC) decided to raise the price for oil causing the economic slowdown in the Western world.
  • NATFA

    NATFA
    The recession OPEC created in Canada the government wanted to increase the trade because Canada wasn't sufficiently large to sustain true economic growth. So the government turned to the United States and the agreement was called CUSFTA, however, Mexico wanted to be included in this trade. So, the USA and Canada changed the trade to North American Free Trade Agreement called NAFTA.
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    Monopoly of merchant companies

    The fur trading companies had the control over the main economic activity in New France, which is fur trade.
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    Talon's attempts to diversify the economy

    Jean Talon tries to make New France's economy independent. So, he imported domestic animals, he founded a shipyard near Quebec city and he imported seeds to make the agriculture more diversified.
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    British protectionism

    New France is now a colony of Great Britain and they have a different economic policy which is protectionism. It means the mother country, as well as, the colonies get rich together (protecting their economy). They do this by making trades within their colonies.
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    First phase of Industrialization

    Manufactures were slowly replacing the artisan workshop. Machines now permitted the division of labor and increased productivity. The population had the ability to create more products for the population to receive more money. The colony had an inside market.
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    The reciprocity treaty

    Since Great Britain adopted free trade, the colony had to find a new economic partner so they turned to the United States and made a treaty to be economic partners.
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    The second phase of industrialization

    The second phase of industrialization was mainly the exploitation of natural resources by and for the American market, Quebec's market changed to an exterior one. In 1914 to 1918 (World War I) Canada's economy went up becuase they were the main suppliers (war supplies and food) for allied troops.
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    The Great Depression

    In 1929, the New York Stock market Crash affected the economy of the countries in the modern world. Many banks went bankrupted and a number of unemployed workers continued to grow for 10 years.