Economy Under the French Regime

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Presentation transcript:

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 Concession – A contract that gave an individual or a company the exclusive control of a resource in a territory belonging to the state.

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.

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.

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.