1854-1864 economic changes Flashcards
what did the uk adopt?
a free trade policy with other countries
what is free trade?
an economic system under which customs duties are abolished in order to promote trade with other countries
why did canada need to find another trading partner?
because of the free trade policy, canada was now euqka with other coutries
who did canada want to trade with instead of the UK?
USA
what was signed in 1854?
the reciprocity treaty
what was the reciprocity treaty?
it was a treaty between the USA and canada. they were both able to trade raw materials and agricultural products without having to pay custom duties.
because of trade happening between canada and the USA, what did they need?
a more efficient transportation system
where was a railway built?
between Toronto and Montreal
by 1860, which places did the railway link to?
several cities in canada and 2 ports (Portland and Boston)
because it was very expensive to build a railway rot link Canada to the British maritime territories, what did the colonies suggest?
to pool their ressources together
even though usa was a trading partner with canada, why did the usa pose a threat to canada?
because the usa wanted to expand
what drove the northern states’ economy?
factories
what drove the southern states’ economy?
largely based on cotton which relied on slaves
who wanted to abolish slavery?
the northern states
who did Abraham Lincoln side with?
the northern states. he spoke to abolish slavery
