ECON 2K03 Lecture Notes - The Maritimes, Mercantilism, Potential Output
1 Apr 2013
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The atlantic colonies during the era of british mercantilism. Now that the war ended all markets in europe reopened spurring fishing. British royal navy didn"t want new england boats coming up to newfoundland. Britain banned all imports coming from new england. The supplies they did get were very expensive and there wasn"t enough. Wars in europe- fishery fell spanish market for fish was closed. Because of that prices for fish fell and less catching occurred by 1824 newfoundland became a proper british colony. The maritimes: resident elites and absentee landowners, landowners were supposed to pay rent but they never really did, for next 100 years conflict between resident elites and landowners in. Britain: ns couldn"t compete with new england, american revolution 1776-1780 3 important developments, 1. Forest products to british navy: ns pine forests were massive and great for ship, wants ns rather then new england, 2. New england excluded from west indies trade: west indies was british colony, 3.
