Economy

             Major economic changes are taking place in the midst of a commercial revolution. Europe is slowly transcending into a world market and economy. There is talk of inflation as new metals are being introduced into Europe. However, I believe the precious metals such as gold and silver will not be the cause of the upcoming inflation. In fact, the growing population and the increase in demand for land and food will probably play a major role in the increase of prices. Also, European trade is prospering and flourishing very well, especially in overseas trade. Right now, the Atlantic seaboard is a major player in trade, linking important central European trading areas together. Commercial capitalism is growing very rapidly with the increase and prosperity of trade. Despite the economic emphasis on trade, Europe is still dependant on an agricultural system with an emphasis on taxes and fees on the peasants.

             Also, a new set of economic principles have arisen, which go by the name of mercantilism. Although I am far from being an expert on economic matters, it seems to mercantilists that a nation’s wealth depends on its supply of gold and silver. I conclude that this was a major factor in my trip to Canada. Mercantilism also believes that the state should intervene in the economy for the good of the nation.

             Again on the topic of overseas trade, overseas expansion is very popular right now among the European states. We are truly becoming a world economy and interlocking with other continents in our trade and settlements.

Jacques Cartier