Salt cod packed in a barrel, ca. 1905
International markets became glutted with saltfish after the First World War. A quintal of fish that cost $14.46 in 1918 fetched only $6.86 in 1922. Low prices and increased competition saw Newfoundland and Labrador’s profits evaporate.

Photographer unknown. Reproduced by permission of the Maritime History Archive (PF-315.139), Memorial University, St. John’s, NL.