HomeMy WebLinkAboutThe Lucknow Sentinel, 1947-10-30, Page 7yn
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�Msr�cades of war was breathing ,more 'a million of thein—were scattered= over as Many square..
miles: To the west and north lay'pother ;two million
square.'.in'iles, unsettled and untouched: Merchants and
traders; did -their business , by barter and
,with a`hodge-podge of foreign currencies,
• easily :. two: years, .before, 'the
Napoleonic Wars had_atlt, ended at Waterloo. En'the .
New. World; the three-year-old Treaty of Ghent had
ended an..attemripted•'invasion from the south and the .
Peoples' of North America began a friendship that is the
admiration of she' worlfi'today•
1:
NTARIO and
B'of Nl, Have
rows Up:Toge he
Business by barter, travel by
stagecoach .' r ..,.such was the
order' of the day when the
Bank of Montreal began
.basiness-in Viper ' Canada.
Within eight months':of •its':
founding in: November
18 i7. the B of M•. -Canada's
first -established' bank -;-
opened agencies in the garri-
son town of"
Kingston,
the •.trading• •settlement of"'
York. Typical settlers ofthe
tine, the thousand' citizens
of.. York lived by farming
lumberingr'and trading`with
the lndians.t`
'Since that 'far -oft day.
Ontario has become the most
populous and highly indus-
trialized Canadian province
• : and the B of M:; has built
'up its lamest representation
here. Soon, the new 16 -storey
$' of M. building will be:
numbered ninon* ''Toronto's
many beautiful edi6ces:.
typical of the progress On=
tarso and the Bank of,Mopt-
real havemade together. •
Today. the $ of M serves
the people of .this modern..
./minded province ' through:
189 branches and 'fsconstant-
ly :'adding• to this numbe'r:,'
TO A'M/11/011 f'ANAD/ANS
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NTO this scene cane •nine. men :O
vision, wne`( hngifsh 'and Scottish"
merchants who realized that, without'a
solid .financial, foundation; the colonies:
could never; reach.sationhood Together,.;
.they determined a course:of action. With
their .:own money and'; the backing .of
20')•other. pioneering citizens, hese nine
Men ' founded ;the Bank . of Montreal,, •
;which, opened its 'tioors, ;for �us{ness .on .
• Novemher 3rd, 181.7,' Never once since
'•then';has the• Bank .failed to..open . on •a
business day:
RUT all; was not , easy.., There wtre
��✓• —
• hard; 'trying ,day, s, .ahead 'each :de=
'cade,had its ups and owns From 1836
`•to' 1840;'Canada experienced: a. st:cces=
,cion of bad' ••harvests,. political convul-
sions, commercial changes and. failures..
Rebellion had, depreciated' the value of •
property, and seriously. hindered the in- `•
provement and°further settlement of the
:country. The Bank of Montreal' survived
pnly by the. most' careful"'use of its re-:
sources 'and. the 'confident • loyalty of its
,';,depositors:'•
whoseChanging values Spelled ;Chios:'''`
Trade °development'lan_guished
•
Tithe veryoutset,•the Bank issued its
ill—bills • and :coins.. •1-1ere was
Canada's first real money.: The :currency'
won 'immediate • acceptance ; goods
moved more quickly ...and the stability the.
nine men : hoped;, for came rapidly. .The
people proudly •welcomed this Canadian •
currency- and,: as its circulation spread,
so .did, the' reputatioli of the new,.:bank
Within a year of its 'founding it became ,
the Government'sbanker, and its currency
officially replaced'' the Br nsh money used
by the. Government up'to 'that time.
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TUST two weeks after the Bank started, •
ECOVERY.was rapid during the.
middle years, of., the century. Then.
came 1867 .„ ,, and a tion• was` born
' But:a trans -continental: railway was" a
:condition of Confederation; and now the' ,
• Canadian Palcific had:':; to be pushed '
through. To seed the 'construction; the`
enterprise`' was 'placed in private hands.
The, work went: fast, and the last spike ... '
was '`driven five years"earlier .:than ex.
pected. With 'faith, characteristic 'of its
nine 'founders, the B ofM had backed
to the limit'this .great national project ;•
Canada's first ' branch bank was
founded: the•B of ,M's Quebec agency
opened and,'thus, the Canadian branch'
'banking, system .' began: The following
',ear saw agencies • opened at Kingston
and York; now Toronto, and branches; :r
' spread as' the years went on: ' Haired
throughout the wolrld for its strength
and. :flexibility,:, this .'system of branch'
banking.. begun 130.. years .` ago Chas ' •
proved i.deal.,for• a country vast in ,area:
F and small in `population .
the century , opened ,with s''
a ; :new. flood 'of, prosperity ;
which lasted., for 'snore than a decade.
Two • 'more trans—continental, railway' .
systems ...'a great influx.. of new settlers
. abundant' crops '..;thousands of new'
industries -:and then ..• . World 'War I 3;
Through the tryingtimes 'whicitfollowed , J
the inflated days of the 20's arid the
depressed days of the: 30's—through a
,second' World .War in our' 'time
Canadians .:worked • and •fought, and'
, Canada became a world: power. '
•=Peace... new. plans'... 'new° hoped `.'.. rehabilitation. Life in
Canada still takes work, courage • and, aboveall; vision
the kind of, vision which spurrednine men • to pioneer the.,.
nation's economy' 130 years ago. From a corporal's 'guard in•
1817, the •staff of the, B of M' has grown to an army eight.
thousand strong ...'working closely. with Canadians and their industries in hundreds,
of _communities froiin • coast to /coast .:,supplying the , lifeblood •'of credit ,to an
i erac ical `help u, the mon and. a half. customers ,who put their trust ty Service—to;'
.expanding nation ... seekingalways--through sound counsel and friend
. =g P . illit .n the Bank:
7,{>... ust as histor "foreshadowsthe future'•so •the recor
,w, w
hat 0 TO' nor 9 y a.
of Canada and of‘lir first -established
shed bank working toge�tlei gives promise of, bright toy
morrows' #'or the Matron. "`' '`lie „tw'eotierh ce'n'tury belongs to Canada" :: and—fort' that.fuhwre':
' we pledge °ourselves anew to.,work constructively with Canadians' in every walk of lifer '
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.-1..N• K OFMONTREAL .
1' , ,,' ;,; � �, t • Canadads FZrst establ/shed Rank
G o ok W. SI?1NNE Y; C,11 .G., ,president ,1. Cr GARDNBR, Vice President and General Manager
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