The growth and development of trades and manufacturing in St. John's, 1870-1914
The growth of industrial production is a major hallmark in the development of most economies and the chief source of this growth is import substitution. While practically all income in Newfoundland was derived from the primary sector prior to 1870, the country made considerable efforts between 1870...
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| Format: | Thesis |
| Language: | English |
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Memorial University of Newfoundland
1977
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| Online Access: | https://research.library.mun.ca/7834/ https://research.library.mun.ca/7834/1/Joy_JohnLawrence.pdf https://research.library.mun.ca/7834/3/Joy_JohnLawrence.pdf |
| Summary: | The growth of industrial production is a major hallmark in the development of most economies and the chief source of this growth is import substitution. While practically all income in Newfoundland was derived from the primary sector prior to 1870, the country made considerable efforts between 1870 and 1914 to stimulate an industrial transformation. By 1914, however, the higher production, employment and income levels enjoyed in other countries with vibrant manufacturing sectors had not been achieved. While trades and manufacturing industries experienced some growth during this period, the rate of expansion was slow. In 1870 small shops produced all of the locally-made goods, but by 1914 a small number of larger mechanized factories dominated the market, and most of the small businesses either disappeared or retailed and repaired imported or local factory-made products. The capital for the larger St. John's factories came chiefly from the retained earnings of the fish merchants. The major city merchants invested moderate sums in a number of incorporated companies protecting their export-import business through limited liability and spreading the risk over a number of different enterprises. Inter-industry linkages within the trades and manufacturing sector and between it and other parts of the Newfoundland economy were rare and most machines and raw materials were imported. While the number of employees grew over the period, unemployment, poor wages and working conditions were common. The trades and manufacturing industries usually produced common and widely used products leaving specialized items to foreign suppliers. The St, John's trades and manufacturing industries were import substitution factories designed to serve the national market. While many of these firms succeeded in capturing the Newfoundland market with the help of the tariff, locational advantages and the nature of some of the products, the market was not large enough to support continued growth. The import substitution model was not suitable for ... |
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