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Unformatted text preview: Railroads and Early Railroads and Early Industrialization
Lecture Seven History 113 Early Industrialization Early Industrialization Ontario and Quebec Transition from commercial, export oriented economy to an industrial, capitalist one Critical Period 18501870 Important Changes in Place: Economic policies, potential markets, technological change, banking Industrialization Ontario Industrialization Ontario Nature of Ontario Economy by 1870 Nature of Industry Small Underdeveloped In Rural Areas Increasing Diversity: Export/staple industries Consumer industries (foundry workers) BNA Colonies 1860s BNA Colonies 1860s Industrialization Ontario Industrialization Ontario Trends/Characteristics Why in Ontario? Success of agricultural economy Merchant “elite” Railway Development Locational and Resource Factors Industrialization Quebec Industrialization Quebec Early Industrial Development Activities of Merchant Elite Development of Small Manufacturies Gradual Development of “industrial” forms Examples: John Molson & John Redpath Nature of Industrial Development Quebec compared to Ontario Railroads Railroads Importance of Rail Development Support for Rail Development Business/State partnership: Financing: Mix of Public/Private Development Example: St Lawrence & Atlantic Guarantee Act 1849: Province guarantees interest and principle on half of all bonded debt of railroads Why? – “public good” Railroads Railroads Great Western (completed 1854) Covers SW Ontario to American rail lines Grand Truck Railroad Proposed to link two other railways together – To join the colonies by rail Idea of an Intercolonial rail line GTR – Success and Failure Rail Lines in 1860s Rail Lines in 1860s ...
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- Fall '09