HIST113 Study Guide - Midterm Guide: Newfoundland And Labrador, Philemon Wright, North West Company
16 Oct 2011
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Discovery of fishery (potential to make a lot of money) What are the benefits and risks of fishery? fish is an important resource to european society) earn 27701 Funding for fishing is quite profitable earn 27701 Free enterprise lose the ships (storms or got stolen) No economic benefits, a lot of efforts to settle a new land. Certain control of the king"s power (not allow participation) Exploration continues for other wealth (not only fishing) The king did not care enough to enforce the settlement. Fur trade dominates (70% of exports most years) Agriculture is dominant activity of many people (but small % of export income) Set up many trading houses, fixed term partnerships, major trader btw france and nf. Objective: create a self-sufficient and wealthy empire. Idea: acquire as many colonies as merchants can acquire resources and wealth from ex. Colonies are to supply raw materials (ex. Fish) to mother country and to act as a market for manufactured goods.
