Author: Joseph Schull. Illustrated by Merle Smith
The large towns were already over – banked, but the rural areas were underserved. On March 18th, 1855, its charter was granted under The Bank of Toronto. It is interesting to note that before the merger of the Bank of Toronto and the Dominion Bank on February 1st 1955, neither bank had ever taken over or had merged with another institution. They were both very strong and entrenched in their respective communities and well managed. The government allowed the merger because it was viewed that bigger banks did a better job at keeping pace with a developing country. These were the days of trains, farms, ships, logging, horse and stagecoaches. The reader is guided into a developing country, the growth of its major industries and how the bank contributed to Canada’s success.