ECONOMY

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ECONOMY

• The British Regime
• 1760 - 1867

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Royal Proclamation - 1763

• Created the province of Quebec
• Major changes for political legal organization
• Little initial change for economy
• Britains policy was similar to that of France
• Based on mercantilism

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Map of The Royal Proclamation
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Important terms

• Protectionism an economic policy intended to
  protect a country/empire from foreign competition
• ie Britain preferred buying/importing goods from
  its colonies, instead of buying from somewhere
  else
• Preferential tariffs lower customs duties on
  products imported from the colonies
• ie Britains Corn Laws gave the colonies grain
  merchants a lower tax rate so they could sell
  their products at a lower price (would later be
  adopted for wood and wheat)

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British Empire in the 19th Century
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The Conquest - aftermath

• After the conquest, many French merchants
  returned to France
• Those who stayed had to adapt to the changes and
  become partners with British merchants in order
  to remain successful
• A new business class developed, which became
  known as the British Party (they demanded that
  British laws and institutions be put into place
  in the province of Quebec)
• Opposed Governor Murray and Carleton who had a
  conciliatory attitude towards the French

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Rise Fall of the Fur Trade Competition

• New Montreal merchants formed a new fur trading
  company, the North West Company (NWC) to compete
  against the already successful Hudsons Bay
  Company (HBC)
• Both groups opened more and more trading posts,
  which increased fur production

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Rise Fall of the Fur TradeMergers

• Battles over territory occurred between the HBC
  and NWC
• Britain encouraged the two groups to join
  together under the HBC name
• But, at the same time fur was not as popular
  anymore in Europe
• Growth of the timber trade reduced hunting
  grounds
• Fusion of the companies left natives with only
  one buyer for their products

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Timber Trade

• Became increasingly important at the end of the
  19th century
• 1806 Great Britain was at war with France
  (Napoleon blocked British access to lumber,
  forcing them to look elsewhere)
• Preferential tariffs were established,
  encouraging merchants to develop the industry
• Commercial and military needs of Britain
  encouraged the growth of shipyards

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Timber Trade

• Many secondary activities also developed because
  of the timber trade
• Saw mills, naval construction, building
  construction
• New activities provided jobs for many