HIST113 Lecture Notes - Lecture 9: Byrsonima Crassifolia, Canadian Business
15 Feb 2017
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Document Summary
Lecture 9: banking & financial services to the late 19th century. What factors led to the bank act of 1871 and how has government regulation impacted on. Banking in canada? (how has regulation impacted on other nancial services?) Exchange before banks: variety of specie, bank notes and bills of exchange, need for a common medium of exchange. First banks (private: 1817 montreal bank. Operation of early banks: in uenced by britain banks (britain is still the mother country) and american banks (due to interconnection between canadian business and american businesses, exchange bank notes for specie or other notes. Early regulations: limits on note issue and banking activities. Development of banks: mix of american and british in uences. Requests that all banks have charters to operate and charters need to be renewed after every 10 years. Requirement that reserves have to be in gold or notes. Govt can set ceilings on interest rates.
