Banking in Canada: Address of Sir Edmund Walker, C. V. O., LL. D, D. C. L., President of the Canadian Bank of Commerce, Before the Institute of Bankers, London, Eng., 12 June, 1911 (Classic Reprint)
Banking in Canada: Address of Sir Edmund Walker, C. V. O., LL. D, D. C. L., President of the Canadian Bank of Commerce, Before the Institute of Bankers, London, Eng., 12 June, 1911 (Classic Reprint)
Excerpt from Banking in Canada: Address of Sir Edmund Walker, C. V. O., LL. D, D. C. L., President of the Canadian Bank of Commerce, Before the Institute of Bankers, London, Eng., 12 June, 1911 In order to pay the expenses of the war, issues of fiat money, for which the credit of Great Britain was pledged, were made from 1812 to 1814 through the Army Bill office, and were redeemed during the ensuing four or five years. It was not until after this, in 1817 and 1818, that the first banks were created in Lower Canada, now ...
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Excerpt from Banking in Canada: Address of Sir Edmund Walker, C. V. O., LL. D, D. C. L., President of the Canadian Bank of Commerce, Before the Institute of Bankers, London, Eng., 12 June, 1911 In order to pay the expenses of the war, issues of fiat money, for which the credit of Great Britain was pledged, were made from 1812 to 1814 through the Army Bill office, and were redeemed during the ensuing four or five years. It was not until after this, in 1817 and 1818, that the first banks were created in Lower Canada, now Quebec. They were at first private corporations, but obtained charters in 1821 to which the Royal assent (then necessary) was given in 1822. In 1817 the Provincial Parliament of Upper Canada (now Ontario) was also asked to incorporate a bank, and consented, the lieutenant-governor, however, reserving his signature for the Royal assent, which was given in 1821. There was a dispute between two sections of Upper Canada over this charter, and eventually it took shape as a bank in which the Provincial Government owned about one-fourth of the stock, with the right to name four out of fifteen directors; the only instance, fortunately, of state ownership in our banking history. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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