Banking in Canada Before Confederation, 1792-1867

Type of resource
Authors/collaborators
Title
Banking in Canada Before Confederation, 1792-1867
Abstract
In 1817, Montreal bankers were granted a charter by the British government to open the Bank of Montreal, the first formal bank in Canada. Under its charter, the Bank of Montreal was given a monopoly on the right to issue promissory notes. Because of its monopoly rights, the Bank of Montreal essentially acted as a central bank for both Upper and Lower Canada until rival banks were established in the two colonies.
Book Title
Approaches to Canadian Economic History: A Selection of Essays
Place
Toronto, ON
Publisher
McClelland and Stewart
Date
1967
Pages
127-168
Language
en
Citation
Hammond, Bray. “Banking in Canada Before Confederation, 1792-1867.” In Approaches to Canadian Economic History: A Selection of Essays, edited by W. T. Easterbrook and M. H. Watkins, 127–168. Toronto, ON: McClelland and Stewart, 1967.
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