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Approximately eight million tons of cod were caught between 1647 and 1750, a period encompassing 25 to 40 cod generations. The factory trawlers took the same amount in 15 years. [8] The industry collapsed entirely in the early 1990s owing to overfishing and debatably, greed, lack of foresight and poor local administration. [9]
Poor knowledge and understanding of the ocean ecosystem related with Newfoundland's Grand Banks and cod fisheries, as well as technical and environmental challenges associated with observational metrics, led to a misunderstanding of data on the "cod stocks" (meaning residual and recoverable fish).
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 study. Innis tells the detailed history of competing empires in the exploitation of a teeming, natural resource—a history that ranges over five hundred years.
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.
The northwest Atlantic cod has been regarded as heavily overfished throughout its range, resulting in a crash in the fishery in the United States and Canada during the early 1990s. Newfoundland's northern cod fishery can be traced back to the 16th century. "On average, about 300,000 tonnes (330,000 short tons) of cod was landed annually until ...
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 ...
Economic history of Newfoundland and Labrador History of Fisheries of Newfoundland and Labrador Collapse of the Atlantic northwest cod fishery; Turbot War; Migratory Fishery of Labrador; History of Basque whaling § Newfoundland and Labrador; History of the petroleum industry in Canada (frontier exploration and development) Military history of ...
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 ...