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Economy Under the French Regime

Economy Under the French Regime. 1608-1760. Vocabulary. Mercantilism – An economic theory that bases a nation’s prosperity on the accumulation of gold and silver Trading post colony – A post set up in a territory with the aim of exploiting its resources

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Economy Under the French Regime

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  1. Economy Under the French Regime 1608-1760

  2. Vocabulary Mercantilism – An economic theory that bases a nation’s prosperity on the accumulation of gold and silver Trading post colony – A post set up in a territory with the aim of exploiting its resources Concession – A contract that gave an individual or a company the exclusive control of a resource in a territory belonging to the state.

  3. Economic Development and Territorial Expansion French Mercantilism meant that New France provided resources to France so they could turn them into finished products for export. New France at first was just a trading post colony run by trading companies that were given monopolies over resources like fur. Permanent settlements at Port Royal (1604) and Quebec City (1608) were made to help increase the fur trade.

  4. Economic Development and Territorial Expansion (cont) In 1663, King Louis XIV got rid of the company held monopolies and put control of the economic development of New France under the Intendant as part of the Royal Government. From 1663-1755, France explores further into North America and expands its territory (Ex: Great Lakes, Ohio Valley, Louisiana) The French make political and trade alliance with Aboriginals in order to obtain furs.

  5. Economic Development and Territorial Expansion (cont) The English, France’s main competitor in the fur trade, established the Hudson’s Bay Company in 1670 to trade for furs with Aboriginals.

  6. The colony’s main commercial activities Fishing was profitable during the entire French regime but the fur trade was the main “economic engine” of New France In the 1690’s, overproduction resulted in a crisis for the fur trade. In the 18th century, intendants (Jean Talon) tried to diversify the economy (create new industries)

  7. The Colony’s main commercial activities Agriculture was at first just a subsistence (survival) activity, but began to produce surpluses in the 18th century. Merchants distributed the agricultural surpluses in the cities and provided products to the rural areas. They exported furs and imported finished products from the mother country In the 18th century, triangular trade developed in the French colonial empire between France, New France, Antilles.

  8. Trade Network New France (colony) France (mother country) St. Anne de Beaupre (rural) Marseille (small city) Furniture (products) Fur clothing and Hats Agriculture surplus Furs Paris (big city) Montreal (city) Furniture (Finished products) Furs from Aboriginals Trading post

  9. Map of the Antilles

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