Thursday, November 20, 2008

The Reciprocity Treaty


The U.S signed this treaty in exchange for access to the Atlantic waters. The Reciprocity Treaty was finally signed on June 5,1854 by Lord Elgin of Britian and William Marcy of the U.S. Any side could cancel the treaty after 10 years. This treaty allowed these two countries to trade goods with low taxes. BNA traded fish,timber,grain and cattle while the Americans traded coal and pork. The economy increased dranatically for BNA, especially the Maritimes. However, the U.S wanted to end the treaty in 1865 because:
~they thought BNA was benefeting more from the treaty than they were
~they didn't like the taxes put on manufactured goods
~they wanted to torture England for supporting South in the Civil War
The treaty was officially ended by the U.S in 1866.
The BNA started to think about joining together and trading goods within their own country, with low tariffs of course. This is one of the factors that lead to the Confederation.
Text to Self
This reminds me of the Student Exchange to France. People here in Canada will go to France and the French will come here to Canada. This is sort of like trading goods with another country.
I have traded a few things with others in the past, but they were always minor things. An example would be when I traded a bag of chips with my brother in exchange for a kit kat.
Text to World
This treaty reminds me of NAFTA. Both of these organizations work to remove taxes. They both encourage free trade, though NAFTA encourages free trade on products produced and sold in North America. Though there are three countries involved in NAFTA: Canada, U.S and Mexico.


grade8history said...

Why did they think that BNA was benefiting from the treaty more than they were?

grade8history said...

Why did the economy increase for BNA and especially the Maritimes?

I like your connections. There really good. :)


grade8history said...

I think because BNA would take their wheat and then ship it off to England, so they would probably get more money.
And in the Civil War, the cost for manufactured food in the U.S increased, but it not for raw materials, so the BNA had nothing to lose, and yea... =)

grade8history said...

I like your article. I was wondering about the economy increase for BNA.-Jacqueline