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Cod fishing on the Newfoundland Banks. Cod fishing in Newfoundland was carried out at a subsistence level for centuries, but large scale fishing began shortly after the European arrival in the North American continent in 1492, with the waters being found to be preternaturally plentiful, and ended after intense overfishing with the collapse of the fisheries in 1992.
After the publication of his book The Fur Trade in Canada (1930) Innis turned to a study of an earlier staple — the cod fished for centuries off the eastern coasts of North America. Cod on a 1932 Newfoundland postage stamp. [1] The result was The Cod Fisheries: The History of an International Economy, published 10 years after the fur trade ...
The WWF issued a report stating that the global cod catch had dropped by 70% over the last 30 years and that if this trend continued, the world's cod stocks would disappear in 15 years. [ 43 ] Åsmund Bjordal, director of the Norwegian Institute of Marine Research , disputed the WWF's claim, noting the healthy Barents Sea cod population. [ 44 ]
Ottawa announced the devastating cod moratorium on July 2, 1992. Cod stocks off the province’s northern and eastern coasts were collapsing, and the moratorium was introduced as a way to help them recover. Before then, the cod fishery was a primary economic driver in the province, and the moratorium put tens of thousands of people out of work.
ST. JOHN'S, Newfoundland (AP) — The Canadian government has ended the Newfoundland and Labrador cod moratorium, which gutted the Atlantic coast province’s economy and transformed its small ...
Although the company was the third largest exporter of salt cod from Newfoundland, it had limited capital to respond to changes in the industry. With the decline of the salt cod industry in Newfoundland in the 60s and early 70s the company suffered decline. In May 1977,it went into receivership on default of a $440,000 bank loan. [1]
The Grand Banks of Newfoundland are a series of underwater plateaus south-east of the island of Newfoundland on the North American continental shelf. The Grand Banks are one of the world's richest fishing grounds, supporting Atlantic cod , swordfish , haddock and capelin , as well as shellfish, seabirds and sea mammals.
John Cabot visited Newfoundland in 1497; news spread quickly that Cabot had caught cod by simply lowering and lifting a weighted basket. Gaspar Corte-Real of Portugal visited Newfoundland in 1500, and by 1506 the catch from the Grand Banks of Newfoundland encouraged the King of Portugal to impose a ten percent import tariff to protect local ...
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