Economy
Glace Bay was once a coal mining town. In 1860 the Glace Bay Mining Company was formed and it operated two mines. The first large colliery, the Hub Shaft, opened in 1861. Large-scale mining commenced in 1893 after exclusive mining rights were granted to the Dominion Coal Company. Glace Bay was incorporated as a town nine years later. At its high point the company operated eleven mines in all, and was responsible for 40% of Canada's coal production. Coal was transported on the Sydney and Louisburg Railway to both of those ports for shipping. The S & L Railway's main operations, including the roundhouse and machine shops were located in Glace Bay. Glace Bay's extensive coal and rail operations made the town the industrial center of Cape Breton. As coal mining became less important, the mines were closed until, in 1984 Colliery No. 26 was closed by the Cape Breton Development Corporation. Many residents of Glace Bay started to work at the two other coal mines in the area: Prince Colliery in Point Aconi and Phalen Colliery and Lingan Colliery in Lingan. However, coal mining continued its decline with Lingan closing in the mid-1990s, followed by Phalen in 1999, and Prince in 2001.
Fishing was also an important industry throughout the 20th century. However, by the 1990s fish stocks were so depleted that the fishery was closed. Some fish processing still occurs here.
Read more about this topic: Glace Bay, Nova Scotia
Famous quotes containing the word economy:
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
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—Ralph Waldo Emerson (1803–1882)