Merchant Capital and the Empires of Fish and Fur Monday October 22, 2012
Marie Joanne Raenaut: Writes a letter to her husband Charles Renaut. Already a
small victory as it conquered illiteracy. He was a cod fisher in the banks. The letter
was passed from person to person and ship to ship until it reached Scatterie, Cape
Breton. Charles decides to stay in one of the semi-permanent fishing villages.
Refer to diagram to see the Social Formation dates to understand that they ran at the
Merchant capital social formation is a hybrid social formation: Has elements of the
modern (Lib-cap) and pre-modern formations(ss).
The modern world takes place in the 15 and 16 centuries. When Europe takes on
economic transformation that’ll take on the whole world. Before hand, Europe had
been a incapable place to be controlling the world in economics: they lost a war to
the Israelites, they were not as technologically advanced as China … so on.
Merchant capitalists are inclined to request items for themselves. They are working
out of self-interest. However, they did not exploit the means of production; they
used the way everything was produced. Merchants would buy goods and resell
them for a lot more money.
Absolute estate and merchant capitalism start to get along as the absolute state
gives monopolies to the merchants in order to suppress their revolt. (Peasants shut
down easily). Companies begin to charter over to NA.
Exploration such as Cartier who brings prisoners with him to NF in order to dig
holes for gold has led us to where we are.
Mercantilism and ‘Canada’ in the Atlantic World. The slave trade drove the Trans-
Atlantic Triangle. Fisherman in Acadia provided slave owners with cod to feed the
Mercantilism: Tariffs are set so that they will only trade with them, no foreign
investment, colonies provide raw goods and buy products.
Fixed unit of trade in Canada: m-b, which was made beaver pelts. The beaver pelts
are turned into a currency by the Hudson’s Bay Company.
Hudson’s Bay Company Charter 1670: Granted Rupert’s land made up 4