HIST113 Lecture Notes - Lecture 7: William Gooderham Sr., Technological Change, John Molson
11 Sep 2016
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3)why is railroad development so important to economic and business activity: why and how does the state (government) become involved in railway. Transition from commercial, export oriented economy to an industrial, capitalist one. Important changes facilitate economic diversification, industrial growth: o. Moving away from mercantilism, to laize-faire (free trade) Removal of timber tariffs (canada must now compete) Railway already established in u. s, it meant you could send your goods farther and farther. Britain is already the industrial leader, and america is well under way. Engines - transportation, cotton gin - process) o. Arrival in canada access to credit and transferring securely are also reasons for the transition to industrialization. Nature of ontario economy by 1870 o. Industrialization was well on its way in the idea that canada held all the characteristics for the next stages o. Evolution in the goods producing sector opened up opportunities in the service sector o o. Employed 5 or less people and output was small.
