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ECON 2K03 (28)
Lecture

econ 2k03 8.docx

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Department
Economics
Course
ECON 2K03
Professor
Hannah Holmes
Semester
Winter

Description
The west Railway and Early Industrialization • Canals had limitations • If inland no use of canal • Water freezes therefor no use of canal • Railways very expensive • Could reach longer distances and address the inland • Rail runs in winter • Faster the water shipping • Less likely to damage goods in transit • Not enough capital in bna to get rail to develop • 1849 Railway Loan Guarantee Act • government guarantee on bond issues • extended provincial credit to municipalities • 1850-1857 –canadas railway boom • grand trunk railway most expensive to build at 67M • Funded through various sources • Early Industrialization • Artisans (little people… potters, black smiths)… no economies of scale.. less the 20 workers… local protected because of high transport cost but that changed with the expansion of rail •
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