Economic Diversification Chart

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Presentation transcript:

Economic Diversification Chart

Causes of Diversification Economic Difficulty: New France’s economy was based primarily on the fur trade “The colony had no other object but the trade of skins. The previous leaders had cared little for all else, making no room for diversity.”

Attempts at Diversification Michel Begon & Gilles Hocquart attempted to diversify the economy – create many industries Many attempts were made to diversify: Hemp was manufactured into rope Flax was made into cloth Shipyards were built Michel Begon Iron was exploited and manufacture Hemp Flax

Results of Diversification Attempts at diversification failed Evidence: The economy of New France is still primarily based on the fur trade Reason for failure: The mother country provided little support due to its strict mercantilist policy Evidence Reason “His majesty is very pleased to learn that hemp production has been as successful as we had hoped, but He must explain to them His intention was never that cloth be produced in Canada in order to bypass that produced in France. Thus, no weavers shall be sent over. His majesty only intended that the inhabitants would send hemp to France for it to be sold either to his majesty for his ships or to individuals in order to avoid procuring hemp from foreign countries”