Sunday, April 5, 2015

The Cicottes Invent Real Estate Investment

When the first Cicottes in New France were settling the frontier, the French Empire was trying unsuccessfully to build a feudal society there modeled after the one in the Old World.  The attempt failed for a number of reasons, but at least two have to do with land ownership: First, the colonization of America had an inflationary impact on the value of land, the primary asset of the wealthy and powerful in Europe.

Tuesday, March 17, 2015

The Tragedy of the Commons (Côte-des-Argoulets Part IV)

By 1680,[i][ii] fifteen years after seven colonists of Ville-Marie contracted with the crown and with each other to settle on the St. Peter River, Jean Chicot had died and bequeathed his land along the Côte-des-Argoulets to his widow Marguerite and their only son, Jean-Baptiste. Marguerite remarried a man much closer her age, Nicholas Boyer, with whom she would have several more children.  Others of the original inhabitants of Verdun had also died, leaving their descendants fertile land and a more peaceful island; Ville Marie had gone from a few dozen citizens to a few hundred, and was growing.  Some of the Argoulets were still around though, and one of them was Étienne Campeau.  He had taken the charge to develop his land very seriously, perhaps too seriously, eventually landing himself in a legal dispute with the other settler of Ville-Marie.