New France the 16th and early 17th centuries New France's economy was heavily centered on its Atlantic fisheries. This would change in the later half of the 17th and 18th centuries as French settlement penetrated further into the continental interior. Here French economic interests would shift and concentrate itself on the development of the North American fur trade. It would soon become the new staple good that would strengthen and drive New France's economy, in particular that of Montreal, for the next century. The trading post of Ville-Marie, established on the current island of Montreal, quickly became the economic hub for the
Global silver trade from the 16th to 18th centuries with baochao or paper money. However, the currency never popularized and silver proved its mainstay as a global currency. Despite some restrictions, silver continued to drive trade through its popularity in Europe. This, combined with a high British demand for Chinese tea, created chronic trade deficits for European governments, which were forced to risk silver deficits to supply merchants in Asia. As supplies of silver decreased in Europe, Europeans had less ability to purchase highly coveted Chinese goods. Merchants were no longer able to sustain the China trade through profits made by selling Chinese goods in the West and were