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Data Discrepancies
ie. US Department of Commerce and Navigation vs. Department of Finance
Impact of Smuggling
Lack of Records prior to 1849
Result: Undue focus on perceived trends and percentage trend
Wheat: primarily trade reallocation
Barley, Wool: demand resulting from civil war
Cheese: treaty no stimulus
1865: 12 Factories 1867: 235 Factories
Timber: railway
"Treaty could have influenced no more
than 15% of total canadian
exports"
American Civil War:
Rapid inflation
Increased demand: all goods
Increased canal use 1861-1865
Railway Boom:
Fueled demand for timber
Result:
Significantly fueled
economic growth
Questions?
Comments?
Treaty Impact: Natural Goods
Segregation
Reciprocity Goods
Non-Reciprocity Goods
Result:
Large initial increase in trade of reciprocity items in first two year. Little further difference until Civil war.
Non-reciprocity items increase 1860+
onwards
To counter the traditional belief that the treaty alone had a substantial positive impact on BNA’s economic development.
Domestic to International
Decreased Transport Costs and Tariffs
But:
Extensive government funded renovations
Debt: 1850 - $18.78M
1859 - $54.12M
Result:
Negating/Potentially
negative Impact