The first recognized discovery of North America occurred at the end of the 15th century, by John Cabot from England. He sailed off the coast of Newfoundland, the New England coast, the Gulf and River of St. Lawrence, and Labrador, reporting:
"...the sea there is swarming with fish, which can be taken not only with the net but in baskets let down by stone, so that it sinks in the water..."
-John Cabot, Letter to the Duke of Milan [1497]
"...the sea there is swarming with fish, which can be taken not only with the net but in baskets let down by stone, so that it sinks in the water..."
-John Cabot, Letter to the Duke of Milan [1497]
[Innis, p.169]
The English and other nations such as the Portuguese, quickly moved to seize this new found natural resource, and there was an expansion of fishing fleets and markets of sea powers like France, Spain, and England. To the right is a table showing the increasing catch of a French fishery from 1726-1729. Even though the number of ships fluctuates, the number of fish caught (a quintal is approximately 100 pounds by French definition, and 100 kilograms by English definition), increases steadily.
[Innis, 215]
When war with England broke out in the late 1700's, the output of French fisheries declined rapidly as fighting drew on as the table on the left shows. The American Revolution beforehand created an odd trade situation which eventually led to American control of the fisheries off the coast of what is now the New England Area in the 1800’s.
England rose to the forefront of cod trade and began an exchange network of cod throughout Europe and Northeast North America. The French remained in control of Newfoundland fisheries, until the late 1700’s and early 1800’s, where control of the Northern North American fisheries shifted between France and England. Towards the end of the 1800’s, the cod exchange from the North American fisheries to Europe stabilized. Control over the fisheries solidified under America, England and France, each with separate fisheries in North America.
The cod trade created a diverse system of economic exchange. From its Nordic beginning, it was used to bolster the diet of many European countries due to its preservability and nutritional value. Many European powers, wanted control over this valuable resource. Cod was traded in Europe, South America, North America, in the Mediterranean, and Africa. All continents touching the Atlantic, could feel the reach of cod.