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Midterm Review Contents: 1) What factors leading to European Exploration? 2) What are the benefits and risks of fishery 3) What factors of fishery lead to/against settlement/colonization in New Foundland? 4) Mercantilism 5) What are the problems

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University of Waterloo
HIST 113
Catherine Briggs

What factors leading to European Exploration? - Exploring new lands (ex. North America) - “Commercial Revolution” (Desire of wealth & power) - Technological advances (allow them to cross oceans) - Discovery of fishery (Potential to make a lot of money) - Ex. Bristol Fisherman or John Cabot What are the benefits and risks of fishery? - fish is an important resource to European society)  earn $$ - Funding for fishing is quite profitable  earn $$ - “Free enterprise” - lose the ships (storms or got stolen) - high risk of death (navy) - harsh conditions (9 months on ships) What factors of fishery lead to/against settlement/colonization in New Foundland? - Higher competition - Shortage of location processing - Expansive/ hard to grow - Not necessary for fish trade - Exploration continues for other wealth (not only fishing) - No economic benefits, a lot of efforts to settle a new land - Certain control of the King’s power (not allow participation) - The King did not care enough to enforce the settlement Settlement Begins – Ferryland 1638 (David Kirke) New France became a royal province 1663 - Fur trade dominates (70% of exports most years) - Agriculture is dominant activity of many people (but small % of export income) Example of a Merchant: Robert Dugard (1730s) - Set up many trading houses, fixed term partnerships, major trader btw France and NF Mercantilism - Objective: create a self-sufficient and wealthy empire - Idea: acquire as many colonies as merchants can  acquire resources and wealth from ex. Fishing & Fur trade) - Colonies are to supply raw materials (ex. Fish) to mother country and to act as a market for manufactured goods What are the problems in New France? - becomes dependent on export of raw materials and on France for many products - Deficit trade balance most years (import higher than export) - Retard economic development o Ongoing warfare o Lack of diversity and reliance on staples o Lack of Manufacturing  Lack of skilled craftsmen & capital  Only small manufacturing (ex. Ship building) o Mercantilism never effectively applied  Only few keys of raw materials to export  Lack of entrepreneurial spirit (merchants just want to go home) - Lack of centralization and absolute power o New France is low priority in Empire (need help more than helpful) o Motivated by personal self-gain (wealth & status) not by colony’s best interests How fur trade (1500-1800) lead to settlement? - Furs became trendy & had sign/status in Europe (potential to make $$) - Product: Beaver Felt Hats (Big market for the importance of hats) What is the relationship between native peoples and the European? - European who are capitalist needed labors - Natives had trade networks, skillful, very clear understand of trade - Natives would engage trade o make their own benefits o trade something they have plenty of - Strong partnership, both side are respected, other connections - Culture difference, Native not seeking for wealth while European did What is the role of Government on the settlement? - Settlement - Result of Goals of Kings who want to take control of areas, acquire more lands and want more power  send merchants to the colonies - Partnership of Kings and Traders = win-win Pierre de Monts created first permanent settlement (1604) and created Quebec (1608) What are the impacts of fur trade? - Leads to settlement/ as impediment to settlement - Trade = Military Alliances - Growth of European colonization o Trade in a large scale (expanded to earn more $$ & allies) - Competition increases What is the role of the government on fur trade? - Attempt to control trade but failed as fur trade expands o Fur trade can earn $$  acquire more land as a result What are the strengths of Hudson’s Bay Company? - Good ideas and sellers - Created a few posts around the Bay - Strong reputation and financial base - Have transporting/shipping goods skills - Work under harsh climate - Be able to keep best interest for employees (loyalty) Expansion and Exploration into Northwest (1740) How Defeat of French in 1760 impact on fur trade? - New Traders – Scottish, English, American - Fur trade expands into North west o Increased competition and anarchy  Larger geography areas  More native groups Merger – Northwest Company (1779) - Located in Montreal (main) - Partnership: Montreal based merchants (ex. Alexander Mackenzie) - Succeed: paying based on the profit of the company o Profit sharing & partnership o Individual bonus o Status (return to Britain) Consolidation of NWC and HBC (1821) - Josh Simson o Supply lower  price up o Cut employees by half o Control quotas o Restructure the company Fur trade ends (1850s) - Furs became unfashionable (use silk instead) What are the issues in Maritimes? - Staple Extraction Dominates (limited business activities) - Lack of Industry and Diversification - Mercantilism continues (trade with Empire) have long time focus now (want to stay) - Business “elite”: Merchants (father to son) - Economic and Political “elite”: Wealthy people sits political will do business - Lack of Industrialization o No need to change: have nice port and find good opportunities (import/export) o “elite” leads no investment in industry  Powerful to make decisions (what they want to invest than what it is)  Control the banks  Major players of the empire/world trade - Location/ Resource issues o No significant population o No large market to export o No skill base Areas of the Maritime Economy: 1) Shipbuilding a. Significant industry (result of the trade economy) b. Does not facilitate subsidiary industries 2) Timber Industry a. Major export product b. Sawmilling (exceptional subsidiary industries) c. Dominated by Merchant Elite d. Small-scare manufacturing 3) Fishery th a. End of migratory fishery by 19 Century  settled for long term b. “Truck system” i. wages/payments controlled by merchants ii. slower development of fishery and economic diversification Ontario and Quebec after 1760 - Quebec (Lower Canada) : Growth of agriculture and timber - Ontario (Upper Canada) : Growth of agriculture, timber and industry o Population increased mostly from immigration from British - From military economy to merchant economy (removal of French) - Ex. George Allsopp (LC) & Robert Hamilton (UC) Timber Industry in UC & LC - Important staple export (major by 1820) - Simple technology & labor intensive (cut tress in winter) - Timber workers : surprising number of people are farmers (because of $$) - Pioneer Entrepreneur: Philemon Wright (Ontario) Sawmilling – Lumber (secondary products) in UC & LC - Develops around 1850 - Ex. William Price (Quebec) - Bring $$ in through exports  economic growth and development What are the differences of agriculture in UC & LC? UC: - 75% of population (need food and can have potential business) - Productive by 1830s and 1840s - Land shortages (productions and good lands paid by British to loyalist) - Profitable (surplus)  economic growth and development (greater diversity) - Trend to develop specific products: Wheat export LC: - Dominant economic activity - Unprofitable (“crisis” by 1815) - Land shortage (reach this problem earlier than Ontario) - Wealth of agriculture in hands of the elite Early Industrialization (1870s) - Transition from commercial, export oriented economy to an industrial, capitalist one - Changes (1850 to 1870)  allow new business a
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