Economic Changes, 1730-1815  The cod fishery continued to
dominate the Newfoundland and Labrador economy during the period
of naval government. However, the industry changed dramatically
between 1729 and 1815 from a European-controlled industry to one
that was domestically owned and operated. By the early-19th
century, most of the profits that once flowed across the
Atlantic to Great Britain remained at Newfoundland and Labrador,
where they benefited a quickly expanding resident population.
Salt Fish, 1969 Salt Fish, 1969 Etching by Don Wright. Courtesy
of AGNL. Larger Version (41 kb)  A variety of factors
contributed to the changing nature of the Newfoundland and
Labrador economy – wars in Europe disrupted the migratory
fishery and helped to foster a resident one; the appearance of
local merchant firms meant more of the industry's profits stayed
inside the colony; and a growing resident population allowed
local fishers to displace migratory workers as the major
producers of saltfish harvested from inshore w