Cod fishery moratorium begins
For nearly 500 years, cod fishing in the waters off the coast of Newfoundland and in the Grand Banks had been an integral part of the North Atlantic economy. But between 1962 and 1992, northern cod stocks dropped by about 93 percent. Fearing that cod would become extinct if action was not taken, Canada announced a moratorium on cod fishing in July 1992. An estimated 30,000 people were put out of work as an industry closed overnight. While cod stocks have started to rebound, the moratorium remains in place.
Each day for 150 days leading up to the opening of the Canadian History Hall, we’re presenting one moment among the many that have shaped our country. Discover more of Canada’s significant historical events in the new Canadian History Hall, opening July 1, 2017.