The study of social classes in the nineteenth century requires the development of conceptual tools able to explain the impact of the Conquest on the pre-existant social structures in determining transformations of the class structure during the subsequent decades.This article examines the work done on this question by Marxist writers. The author criticizes certain conclusions which have been drawn and which suggest deficiencies at a theoretical level. The objections relate to the marked tendency of these conclusions to perceive the structural effects of the Conquest in terms of the formation of a double-class structure characterized by “ethnic origins.” Specifically, the author challenges the notion of the division itself, as well as the criterion on which the division is based.The author proposes that an analysis centred upon the concepts relating to a problem of the transition and linkage of different modes of production permits a more satisfying interpretation, if accompanied by a certain number of considerations of the “upside” and “downside” of the Conquest. To this end, the argument is based on a characterization of New France in terms of the domination of the relations of production of the feudal type and on an analysis of metropolitan centres with intent to evaluate their level of capitalist development at the moment of their respective colonial penetration in Canada. The results of this approach permit one to posit the existence of a single-class structure, characterized principally by the existence of elements connecting diverse modes and forms of production, whose origin reflects the unequal state of economic development in the two metropolitan centres.The empirical demonstration rests on the census data of 1851–1852 and on the complementary information drawn from the works of historians.