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Economic Factors Affecting British North America
Transcript of Economic Factors Affecting British North America
-Exports went mainly to Britain & U.S
-Britain had largest economy in the world
-BNA colonies shipped wood & agriculture
-Healthy trade was created between BNA colonies & Britain
-External trade to U.S allowed free trade of the natural product which was a growth in trade
-External trade with U.S was a treaty of reciprocity signed in 1854 Internal Trade Corn Laws -Part of Britain colonial mercantile economic system
-Anti-corn laws began to protect tariffs
-Free traders won and corn laws were done
1850 NAC North American colonies began trading with U.S
-Repealed in 1846
-All imported goods had no tariffs Intercolonial Trade -Fishing ground in Canada approached by Europeans
-Fur trading was one of the most important industries
-Canada West owning most farms in Canada during 1850-1860
-Animal population decreased as hunters kept killing them
-Fishing development increased in the maritimes Main Industries:
-Timber -Limited transportation and Tariffs
-Taxes on forced goods
-Used to protect colony's own goods EXTERNAL TRADE Our group chose external trade because it has more factors affecting British North America. We chose this also because the most of the slides with the information falls under external trade. External trade also because it has the solutions too. Why did some colonies put aside their differences and became one - Canada??? Three provinces joined the new Confederation: the Province of Canada (which later became Ontario and Québec), Nova Scotia and New Brunswick. The British North America Act was focused to balance the forces that were pushing the old Province of Canada apart with the forces that had pushed all the provinces together Problems in External
Trade - No longer had price advantage
- American producers got larger share of market
- British North American sales declined
*Declined in sales to Britain
*Declined in sales to United States How did confederation help to solve this issue??? - Expanded intercolonial trade
- Selling goods in distant colonies appealed to colonies
- Gave favoured treatment to colonial trade Thank You karoona