The Move Toward Confederation Flashcards
In order to make a profit, a country must…
Export more than it buys
What did Britain lack compared to the rest of Europe?
Resources and population
What is an empire?
A group of countries controlled by a single government
How did Britain solve its resource and population problems?
It expanded and took over other parts of the world
List the advantages of an empire
Bigger markets
More resources
Explain mercantilism
The mother country took resources from its colony and manufactured goods, then sold the goods back to the colony to gain a profit.
What were the three key factors that shaped early Canada?
Immigration and population growth
Changing patterns of trade
Methods of goods transportation
Why did the crown give the colonies independence?
Looking after colonies became expensive
Colonies were given preferential tariffs in exchange for raw materials which meant the crown wasn’t always getting materials at the best rates
What is reciprocity?
Free trade
Why did Canada confederate?
To gain a better marketplace/protection against foreign competition since mercantilism ended
What was the North American reciprocity agreement?
Free trade between the US and Canada
Timber, coal, flour, fish to US in exchange for fishing rights
Explain Maritime transportation
Ship building was major industry since wooden ships were being produced by hundreds
Failure to move to iron steamships meant that economy died down
Grand trunk railroad saved Maritime economy
