Sketches of the Late Depression: Its Cause, Effect and Lessons. With a Synoptical Review of Leading Trades During the Past Decade

The author points out that the world-wide economic depression, that started in 1872 but began in earnest in Canada in the spring of 1874, was most acutely felt in the Province of Quebec, especially Montreal. While he points out that there were international causes for the depression ("spasmodic action of the West India interest, mining paralyzation and losses, serious fires and subsequent overbuilding"), within Canada the causes could be traced to "weak and partial agricultural development, stationary mining interests, and (Canada's) loss of large revenue from lumber production...and its grossly overdone state of business in all branches." Between 1872 and the end of 1880, 149 wholesalers and manufacturers went out of business in Quebec. The author outlines the effects of the depression on such businesses as banks, lumber, dry goods and clothing, drugs and chemicals, leather, boot and shoes manufacturing, liquor and brewing, and tobacco manufacturing.

Montreal

J. Theo. Robinson

1882

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