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The Newfoundland Fishery and Economy Twenty Years after the Northern Cod Moratorium 
William E. Schrank, Noel Roy, ÌÇÐÄÊÓƵ University of Newfoundland, 2013
Read more | The Newfoundland Fishery: Twenty Years After the Moratorium

Abstract:
On July 2, 1992, Newfoundlanders received a terrible shock. The federal Minister of Fisheries and Oceans, Newfoundland’s own John C. Crosbie, banned the commercial directed fishing of the northern cod stock, historically one of the great fisheries of the world.... According to the initial estimates, which proved conservative, 9,000 fishermen and 10,000 plant workers would be displaced and eligible for emergency assistance payments of $225 per week.

Nobody who saw the Minister’s press conference will ever forget the vision of angry fishermen trying to enter the room while the police hustled Crosbie down a back staircase. The fishermen were angry at losing their livelihood while being offered a derisory replacement income.