The history of the establishment of the Bank of Canada.
Written in 2006; 3,375 words; 7 sources; $ 133.95
Paper Summary:
This paper reviews the history of the Bank of Canada, established in 1935 for a variety of pressing economic and political reasons, but the economic turmoil caused by the Great Depression was perhaps the most important factor. The Bank was established relatively late in Canada's history because of little popular support among Canadians for a central bank, especially in Western Canada. The paper further discusses how during the the first fifty years of Confederation, Canadians had shown little interest in establishing a central bank. The remarkable economic expansion between 1900 and 1913 had spread general prosperity and most Canadians considered the current banking system sufficient even though economic experts were concerned about the inflexibility of that system.
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