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Lecture 4

Lecture 4 -- The Staples Economy and the First Industrial Revolution in Canada.doc

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MGMT 1030
Daniel Thompson

The Staples Economy and the First Industrial Revolution in Canada MGMT 1030 Schulich School of Business Staples and the Early Economy of Canada 1)The Staples Thesis  Originated by W.A. Mackintosh in 1923  Developed by Harold Adams Innis  The Fur Trade in Canada (1930)  The Cod Fisheries (1942)  Canadian economic history dominated by exploitation of natural resources in an export-driven economy  Fish, furs, timber, wheat  Economic growth dependent on demand for staples abroad  Long-term effect of staples dependent on linkages  Backward, forward, lateral, final demand 2)Timeline of Pre-Confederation Canadian History  John Cabot (England) explores Atlantic Coast (1497) – he sails and promises to find China, he found a place good for fishing, he came back with a boat full of fish, made a lot of money selling them. He came back and told them theres a good investment, with all the natural resources, and make people invest, then he sailed and missing ever since.  Jacques Cartier (France) explores Gulf of St. Lawrence (1530s and 1540s) He was a friend,of a friend of the king, he owed Cartier a favour, so he asked king to give him a job, the king asked him to sail and gather goods. When he sailed into the bay and he saw people on the shore. People (natives) are excited because they know European have goods (goods, metals) to trade. But Cartier doesn’t want to talk to the natives, he wants gold, diamond, so he just wants the food. The natives want to trade, they brought furs, and Cartier tried to scare them off, but didn’t work. Cartier has to trade, trade knife and axes with furs. The natives are happy. The natives are Quebec lied about China being there because they want them to come back and trade with them, have more economic growth.  New France founded by Samuel de Champlain (1608) Fought in the wars with them to estabilish solid trading relationships  New France conquered by England (1759)  American Revolution (1775-1783)  Upper and Lower Canada formed (1791)  Confederation of the Canadian British colonies (1867) Staples and the Early Economy of Canada 3)Cod and Newfoundland  Two types of fishery  Offshore on the Grand Banks  Inshore along the coast th  All European powers fished the Grand Banks in 16 century  England and France dominated the cod fishery by 1600  Highly seasonal and migratory industry  Gradual settlement on Newfoundland  1200 permanent residents by 1700  12,000 permanent residents by 1775  Cod fishery eventually became a residential activity  1730—residents accounted for 20% of catch  1830—residents accounted for 90% of catch  Massive increase in catch  100,000 quintals in 1750  800,000 quintals in 1830  1.5 million quintals in 1914  Cod the dominant economic activity in Newfoundland  89% of labour force in fishery in 1858 Staples and the Early Economy of Canada 4)The Fur Trade in New France and the Northwest  Demand and supply of furs volatile  Fur trade dispersed over a wide geographic area  New France became a royal colony in 1663  Furs accounted for 90% of the value of exports from New France well into the eighteenth century  Output of furs increased from 40,000 kg in 1675 to 135,000 kg in 1700  Conquest of New France in 1759 witnessed the diversification of the economy  Fur trade disappeared from the St. Lawrence valley by 1821  Hudson’s Bay Company formed in 1670  Three forts on Hudson Bay relied on Cree and Assiniboine to bring furs  Competition with North West Company forced HBC to move inland  HBC and North West merged in 1821  Beaver and buffalo supplies largely exhausted by the 1870s Staples and the Early Economy of Canada 5)Wheat in Upper Canada  Upper Canada sparsely populated after the American
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