Chapter XXXVII: Finance

MONTREAL BANKING AND INSURANCE BODIES

I. BANKING: HAMILTON’S PLAN FOLLOWED BY THE FIRST BANK OF THE
UNITED STATES IN 1791--1792, THE ATTEMPTED CANADA BANKING
COMPANY AT MONTREAL--DELAY THROUGH AMERICAN WAR OF 1812--1815,
RENEWED AGITATION FOR A BANK CHARTER FOR MONTREAL--1817,
THE FIRST BANK OF MONTREAL WITHOUT A CHARTER--ITS FIRST
OFFICERS--OTHER BANKS FOLLOW--THE QUEBEC BANK--THE RIVAL
“BANK OF CANADA”--THE BANK OF BRITISH NORTH AMERICA--MOLSONS
BANK--THE MERCHANTS BANK--BANQUE JACQUES CARTIER, PREDECESSOR
TO BANQUE PROVINCIALE--THE ROYAL BANK--THE BANQUE
D’HOCHELAGA--THE MONTREAL CITY AND DISTRICT BANK--BANKS WITH
HEAD OFFICES ELSEWHERE--MONTREAL BANK CLEARINGS WITH CANADIAN
AND NORTH AMERICAN CITIES.

II. INSURANCE: THE PIONEER FIRE INSURANCE COMPANY OF CANADA--THE
“PHOENIX”--THE “AETNA”--IN THE FIFTIES AND SIXTIES--THE GREAT
FIRE OF 1854--LATER COMPANIES. A. LIFE INSURANCE: THE PIONEER
COMPANIES--THE SCOTTISH AMICABLE AND SCOTTISH PROVIDENT
COMPANIES. B. MISCELLANEOUS INSURANCE 553