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1500
Aboriginal trade network
The Natives engaged in trade to acquire resources that they didn't have in their own territory. This was called the Barter System. For example, the Iroquois would offer the Algonquians farming surplus in exchange for the other group's hunting surplus. The Natives traded in the Great Lakes region, Outaouais, Mauricie and James Bay. -
1500
European fisheries
At the time, Europeans demand for fish was extremely high, because the Church would prescribe fasting periods in which they couldn't eat meat, so fish became their primary source of protein. The fishermen would set up temporary camps in the summer and leave in the winter after having dried the fish. They had to dry the fish because the journey to Europe was too long to be able to transport fresh fish. -
1500
Amerindian-European Trade
The European fishermen came into contact with the Natives when they were in North America, and these two groups began trading. European objects (mainly metal, beads, mirrors) were exchanged for furs from the Natives. The furs would then be sold in Europe and would be a second source of profit for the Europeans. The Natives found the metal objects useful and valuable. -
Period: 1500 to
first occupants
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French and Native alliances
The French and the Amerindians engaged in trade. The French provided things like metal tools and beads, The Natives provided furs, especially beaver furs. The Algonquians wanted to have alliances with the french because they wanted protection against the Iroquois and the french wanted to be the Algonquians allies because they had access to fur regions. Champlain established alliances with the Algonquins, which meant that the French became enemies with the Iroquois. -
Period: to
french regime
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charter company system (100 associates)
Before 1627, only a few people were settling in the colony, the King of France made it mandatory to populate the colony. The King of France granted monopolies of the fur trade to the Company of 100 Associates in 1627 if they could fulfill their task. It failed because of a threat of British attack and because the company did not want to populate the territory: they wanted to gain profit. -
Mercantilism
Mercantilism is the economic system used by New France and its mother country. New France would export natural resources to France, and there, the natural resource would be turned into finished product, then be sold back to New France. Production within the colony was restricted to increase demand. -
Hudson Bay company
Two french adventurers Radisson and Groseillers explored the hudson bay, where they tried to establish the fur trade. They turned to Great Britain since they had no support from France and founded the Hudson bay company. -
Jean Talon's diversification of the economy
The French economy was mainly based on fur, but Jean Talon tried to introduce new economic activities into the colony, specifically agriculture, ironworks, shipbuilding, commerce, and craft activities. Agriculture, since the population was low, however, remained an activity of subsistence. -
Period: to
british regime
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north west company
The North West Company was created in 1783, after the American Revolution, in order to compete against the Hudson's Bay Company. -
Naval Blockade around Britain
Before 1806, Great Britain got their timber from northern Europe. But in 1806 Napoleon Bonaparte, set up a barricade preventing the British from accessing this wood supply. Great Britain had to get wood from British North America, its colony, instead. This lead to the expansion of the timber economy, which also triggered the creation of new jobs, such as carpenters, loggers and mills. -
Bank of Montreal
The Bank of Montreal was created in order to allow the British merchants to have access to credit and investment. They could use this credit to grow their business and to industrialize. -
construction of canals
In order to reduce transportation costs and make trade easier, the Canadian government built canals, where steamboats circulated. The main canals were the Lachine Canal, the Rideau Canal, the Ottawa River and the Chambly Canal. The railroad was built for the same reason, and allowed access to new parts of the territory as well. -
The merge of the Hudson Bay and North West company
The rivalry between the Hudson's Bay Company and the North West Company was very costly, because they both constantly competed with each other and spend a lot of money on building trading posts, even though the fur trade was on the decline. In 1821 they were encouraged to merge under the name Hudson's Bay Company. -
Development of Dairy Industry
Agriculture developed and modernized a lot with industrialization. The sector that developed the most was dairy, which was sold locally and exported to Britain and the US mainly. The production of milk, butter, cheese and cream increased in factories. -
Urbanization during the first phase
During industrialization, many industries put their factories near waterways. These parts of Canada became large industrial centres. So, since many people worked in these factories, they started moving from the countryside into these regions like Montreal and Québec to be closer to their job. This phenomenon is known as urbanization. Because of this, a new working class was introduced. Their neighbourhoods were created, where the conditions were unsafe, polluted and unsanitary. -
First phase of industrialization
During the first phase of industrialization, production style went from slow, costly artisanal production to factory production (cheap, less time, unskilled workers) which now permitted the division of labour and increases productivity. Most factories were built in big cities like Montreal and Quebec. Capital from Great Britain funded businesses. The main source of energy at the time was coal/steam engines. The main industries were food processing, leather, textiles, tobacco, and wood. -
Treaty of Reciprocity
Since Great Britain adopted free trade, Canada had to find new economic partners.The United States became Canada's trading partner, because it was a rapidly growing economy, had a lot of demand for timber and farming produce. The Treaty of Reciprocity in 1854 solidified this deal, and was a free trade agreement between Canada and the USA that lasted 10 years until the USA cancelled it. -
Period: to
contemporary period
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Creation of Unions
Because working conditions were bad for factory workers, these workers wanted a better salary, decrease the number of working hours, reduction in the number of days per week and elimination of child labor. The government put in place the Manufacturer's Act, which protected the workers. They provided a minimum working age, and limited hours. Workers were still being treated badly, so this led to the creation of unions that had strikes to protest being treated badly. -
Second phase of industrialization
In the 20th century, the second phase of industrialization started. This phase was characterized by the exploitation of natural resources and the rapid expansion of industrial sectors which developed due to new energy sources: hydroelectricity. New industries will flourish such as minerals,aluminum, pulp and paper. Further regions will also expand and become more industrialized. Capital now comes mainly from the USA. -
the great depression
Surpluses accumulated in warehouses due to overproduction. This caused a fall in price and curbed rate of production. Companies were letting go of workers which lowered the value of these companies in stock market . This caused the new York stock market to crash in 1929. Many people were poor and out of work. The Government responded to this economic recession, by provided work for the unemployed, introduced direct aid and encouraged agricultural production. -
Second World war
This war ended the Great Depression. Canada had allies in Europe, and they sent food and military supplies. This stimulated the economy, increasing industrial production. The government also raised taxes and introduced victory bonds (people lend money to the government that's paid back with interest). There's the expansion of textiles, food, iron, and natural resources. Economic prosperity followed the war until 1960 and the number of tertiary sector employees increased. -
Quiet Revolution
During the 60’s Quebec experienced major political,social, cultural and economic changes. The Baby boom Increased demand for services. The state is now in charge of social programs like education and health, becoming a welfare state. They also invests in public infrastructures and new institutions. The government pumped funds into the economy and enhanced purchasing power of consumers, while also creating jobs. -
Hydro-Québec
in the 1960's, Quebecers became aware of the domination of the provinces economy. In 1962, the government of Quebec bought out of the private electricity companies and integrated them into Hydro- Quebec in order to nationalize the production and distribution of electricity. -
Oil crisis
Economic prosperity halted in the 70s because the Organization of Petroleum Exporting Companies (OPEC) curbed oil production and made it more expensive. Because the western world was heavily reliant on oil, it damaged the economy. So, there was an increase in the price of goods. -
Free trade
In 1989, Canada and the USA agreed on a free trade policy (CUSTFA), eliminating custom and duties between these two countries.In 1994, the treaty was renegotiated: Mexico, USA and Canada were now apart of the North American Free Trade Agreement in order to promote trade and globalization.
