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ADMS 1010 (296)
Lecture

Lecture Two: Banking in Canada

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Department
Administrative Studies
Course
ADMS 1010
Professor
Alison Kemper
Semester
Winter

Description
Lecture Two Banking in CanadaJanuary 16 2012Background to Bank Act 1871Factors Leading to ConfederationBritish wanted trading and war allies in the event that war broke outThere were also some trading issuesBritain wanted more economic options because there was a high chance that the Reciprocity Treaty was not going to be renewed in 1865RailwaysThere was constant troubles with the railways in CanadaCompanies were financing railways and then going broke due to their high costBritain did not want to support these failing railways anymore even though one was needed in CanadaThere was the belief that if Canada became its own country Britain would no longer be responsible for building the railways It would be their own responsibilityPoliticsThe Conservatives and the Liberals were present in both Canada East and Canada WestThese parties in both areas wanted to amalgamate the two regionsKey Political PlayersJohn A McDonaldGeorge Etienne CartierGeorge BrownAntoine Aime DorionDespite their differences by 1840 upper and lower Canada was unitedCanadian BankingStability Above AllThe Americans tried a national banking system called the bank of the USThere was some debate whether or not they actually wanted national bankingOther banks were chartered but they failedA second national bank was introduced but it also failed
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