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Canada (511,185)
York University (35,583)
Management (455)
MGMT 1030 (164)
Lecture 5

Lecture 5--The Canadian Economy, 1890 to the Present.doc

6 Pages
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Department
Management
Course Code
MGMT 1030
Professor
Frank Miller

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The Canadian Economy, 1890 to the Present MGMT 1030 Schulich School of Business Canada’s Second Industrial Revolution, 1890-1945 1)Continued Railway Expansion  Canadian Northern Railway  Chartered in 1899  Expanded from a regional system of rail lines on the Prairies  Grand Trunk Pacific  Chartered in 1903  Merged with the Canadian Northern in 1920  Canadian railway mileage increased from 17,800 miles in 1900 to 40,000 miles in 1914  All major transcontinental railways experienced significant financial problems 2)The Prairie Wheat Boom  Prairie population increased from 250,000 in 1891 to 1.3 million in 1911  Dominion government granted 118 million acres of Prairie land before 1930  70% of these grants occurred between 1900 and 1914  Vast increase in farm production  1901—improved acreage of 5.6 million acres  1911—improved acreage of 23 million acres  Canada’s share of the international wheat trade increased from 4% in 1900 to 16% in 1913  New cultivation techniques and technical change allowed the Prairie wheat economy to flourish Canada’s Second Industrial Revolution, 1890-1945 3)Resources and Manufacturing nd  High tariffs marked Canada’s 2 IR  Average duty of 23% in 1879, 32% in 1891, and 27% in 1903  Reciprocity Treaty with the United states rejected in 1911  Iron and steel, wood, food and beverages, and clothing accounted for 60% of Canada’s GDP in 1910  Forestry Products  Lumber exports increased from $25 million in 1897 to $33 million in 1913  Wood pulp output increased from 363,000 tons in 1908 to 855,000 tons in 1913  Iron and Steel  Four large steel companies in Nova Scotia and Ontario by 1913  Agricultural Implements  221 firms produced $7.5 million in implements in 1891; 88 firms produced $20.7 million in implements in 1910  Massey-Harris Company formed in 1891  Minerals and Refining  Fuels output rose from $4.4 million in 1886 to $41 million in 1913  Gold industry boomed (and busted) before World War I  Copper output increased thirty times between 1886 and 1913  Nickel output increased from 7 million pounds in 1900 to 50 million pounds in 1913 Canada’s Second Industrial Revolution, 1890-1945 4)World War I, the Great Depression, and World War II  World War I  Exports increased from 18% of GNP in 1913 to 41% of GNP in 1917  Government expenditures increased from $246 million in 1914 to $740 million in 1919  Canadian public subscribed to more than two billion dollars in government bonds  Income tax in
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