1010 Summary notes - Week 1Introduction By 20th century...

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Week 1Introduction By 20 th century, Canada had become a great colony of the British Empire. b/c of their public policy, sound financial system , energetic entrepreneurship emergence of large non-financial corporations. Public policy 2 public policy 1). British North America Act 1967 2). National policy 1978 BNA-created dominion of Canada & gave the federal government to regulate over commerce, currency & banking . National policy-3 parts. 1) Settlement of the west , 2) building transcontinental railway 3) protective tariff. Trade on equal terms. Financial system BNA Act gone federal government control over currency, banking & life insurance Nationally regulated banking system Stock exchange emerged as well as mining exchanges. Banking Major financial institutions were banks. Mortgage, loan, trust companies emerged grew the banking sector. Bank helped financial the railway Other financial intermediaries Mortgage loan companies & life insurance companies increased dramatically I. Because large financial intermediary II. Funded Toronto electric light company Legislation required companies to keep assets in Canada Entrepreneurs French fur traders established the Hudson bay company Shipping, farm machinery, railway, distilling, retail, public utilities
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Non-financial corporations Canada agriculture dominant role & was largest employer Telegraph coping, gas company, navigation company, mining company Canadian owned company either in Montreal or Toronto Few large manufacturing corporations Railways Railways was dominant means of transportation, biggest business in Canada 3 big railways 1). Grand Trunk Railway 2) transcontinental railway 3) Canadian northern railway Extractive sector Focused on fish, fur, forest, farm made up of small family owned business Yukon hold fish, coal Coal mining companies was formed Hydroelectric power plant, pulp & paper mill, iron are mine, iron & steel Turned into mining to foresting. Run by small owner (Major one was mining) Public Utilities Consumer gas, major public utility Electrical public utilities was created (large Canadian owned corporation) Major public utility was Montreal light, heat & power company Electric company helped power street car system Communication sector was formed. Montreal based Bell telephone Soon after the electric & communication industry was regulated by the government Manufacturing Concerned with meeting domestic demand for processed goods. Shoe makers, tailors, browses, distillers By 20 th century, manufacturing grew to equal agriculture in terms of GDP
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Textile was formed Canadian government increased tariff on imports into the country to protect Canadian companies Part of National Policy for protective tariffs All five major manufacturing companies was Canadian-owned Retail Its primary business was the fur trade (they diversified selling different things) Became a department store chain Conclusion
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