the army, and the entrepreneur, but rather to suggest that these
institutions reflect the energy, patience and initiative of a people
who did the country's work.

Prices reflect even more than guide the work of generations.
The fishing industry provided the sinews of New England expan-
sion in ship-building, shipping, trade and the break-down of
English commercial policy, as the fur trade and the contact of
different cultures carried French occupation to the heart of the
continent and contributed to the break-up of the French empire.
Coal and iron and the white pine of the Laurentia contributed to
the industrial and metropolitan growth of Great Britain. Farmers
in Quebec and Ontario and later in Western Canada, poured
wheat and other agricultural products into Europe. Gold-miners
prospected the rivers of the Pacific coast and the rush to the Fraser
and the Cariboo led to the building of the Canadian Pacific Railway
and the reoccupation of the region staked out under the fur trade.
Iron and steel and wheat supported lumbering, pulp and paper
mining and the development of hydro-electric power. The occupa-
tion of the northern half of the North American continent involved
four centuries of intensive labour.

As the bibliography at the end of this volume suggests,
numerous important studies of Canadian economic development
since 1914 have appeared since the publication of the first edition
in 1935. In this second edition it was felt that these studies
warranted an attempt to describe the general trends extending
from 1914 to the beginning of the present war in an additional
chapter. The main characteristics of these trends are confused in
outline partly because of major technological changes such as the
Panama Canal and the Welland Canal and the enormous develop-
ment of new sources of power, but chiefly because of a transition
from a century of Pax Britannica to the second thirty years' war
which began in 1914. The pax Americana Britannica has not yet
emerged to a stable base. It is difficult to adopt tools suited to
analysis of economic development during a long period of peace to
the phenomena of an economy of war.

H. A. I.

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