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Urban History Review Revue d'histoire urbaine

Entrepreneurship and the : York-, 1822-55 Peter A. Baskerville

Volume 9, Number 3, February 1981 Article abstract Through an examination of banking and railway activities, this paper charts URI: https://id.erudit.org/iderudit/1019297ar the changing nature of entrepreneurship in York-Toronto between 1822 and DOI: https://doi.org/10.7202/1019297ar 1855. It is suggested that the entrepreneurial behaviour of the Compact is best understood through a socio-cultural, rather than a simple economic See table of contents perspective. The concept, entrepreneurship, should be regarded as time and culture bound. The common argument that members of the Family Compact failed as entrepreneurs, can, then, be refined. While the Compact's perception Publisher(s) of success differed from that of its successors and, in some cases, from that of its contemporaries in other cities, that elite was equally active in crucial areas Urban History Review / Revue d'histoire urbaine of business development. The activity of leading Compact members and their perceptions of development conditioned Toronto's evolution as a city in the ISSN years under review. 0703-0428 (print) 1918-5138 (digital)

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Cite this article Baskerville, P. A. (1981). Entrepreneurship and the Family Compact: York-Toronto, 1822-55. Urban History Review / Revue d'histoire urbaine, 9(3), 15–34. https://doi.org/10.7202/1019297ar

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This article is disseminated and preserved by Érudit. Érudit is a non-profit inter-university consortium of the Université de Montréal, Université Laval, and the Université du Québec à Montréal. Its mission is to promote and disseminate research. https://www.erudit.org/en/ ENTREPRENEURSHIP AND TOE FAMILY COMPACT: YORK-TORONTO, 1822-55

Peter A. Baskerville Rés urne/A bs tract

Examinant les domaines des banques et des chemins de fer, l'auteur retrace l'évolution de l'esprit d'entreprise à York-Toronto entre 1822 et 18 55. Selon lui, c'est une perspective socio-culturelle, plutôt que simplement économique, qui explique le mieux le comportement des membres du Compact à cet égard. Il y a lieu de considérer la notion d'esprit d'entreprise comme liée aux notions de temps et de culture. On peut ainsi nuancer le lieu commun selon lequel les membres du Family Compact ont manqué d'esprit d'entreprise. Leur perception du succès différait de celle de leurs successeurs et, dans certains cas, de celle de leurs contemporains des autres villes, mais cette élite a été tout aussi active dans les secteurs critiques du développement industriel et commercial. L'activité des chefs de file du Compact et leurs perceptions du développement ont conditionné l'évolution de la ville de Toronto durant ces années.

Through an examination of banking and railway activities, this paper charts the changing nature of entrepreneurship in York-Toronto between 1822 and 1855. It is suggested that the entrepreneurial behaviour of the Compact is best understood through a socio-cultural, rather than a simple economic perspective. The concept, entrepreneurship, should be regarded as time and culture bound. The common argument that members of the Family Compact failed as entrepreneurs, can, then, be refined. While the Compact's perception of success differed from that of its successor and, in some cases, from that of its contemporaries in other cities, that elite was equally active in crucial areas of business development. The activity of leading Compact members and their perceptions of development conditioned Toronto's evolution as a city in the years under review.

• * *

Recent studies of Upper for admission to the elite.1 Canada1s elite, the Family Compact, have begun to supplant the old view In one sense these conclusions of it as a pseudo-aristocratic and have made it more difficult to professional bureaucratic clique. resolve a traditional Work by F.H. Armstrong, J.K. interpretative problem. Did the Johnson, B. Wilson and others has Compact exhibit any general convincingly demonstrated the behavioural patterns? In varied background - mercantile, particular, what was the professional, military and relationship between the Compact aristocratic - of its personnel and and economic and urban development? pointed out the overlapping or Two studies published in the 19 50s interlocking nature of its argued that the elite's value composition. From this point of structure was incompatible with view, occupation did not seem to capitalist development. Yet both be the most important criterion these works assumed that a rather

- 15 - - 16 - narrow occupational group created Two points should be made those values, an assumption called about the idea of entrepreneurship into serious question by more employed in this paper. recent studies. So far has the Explanation of such behaviour pendulum swung on this issue that, cannot be made by simple reference in Johnsonfs view, compact members to occupational categories or "might even be called economic acquisitiveness. Rather, 'entrepreneurs* most of whose the concept should be regarded as political views may have been time and culture bound. Given highly conservative but whose different attitudes and different economic outlook was clearly role models, behaviour deemed 'developmental.'"^ entrepreneurial in one setting may not be so designated in another. Agreeing in part with Johnson, It is sufficient, then, to see G.A. Stelter, in an able survey of entrepreneurship occurring when one 's urban growth up to or more participants mobilize 1850, concluded "there seems little resources or initiate an economic question that a small elite activity which had had no prior controlled the political and existence and which involved some economic systems of the province social or financial risk to those and made many of the decisions participants.^ which determined the direction of urban growth and physical * * * evolution." For Stelter, the character of this elite, especially In a sense the promotion of at its 'major base,' York-Toronto, the probably led to urban development represented the entrepreneurial different from the American pattern debut of York's elite. The and, indeed, may have "led to a character of that debut both particular brand of commercial city conditioned the pattern of Upper that has not yet been clearly Canadian bank development and, to a recognized."^ degree, the place of York within an evolving provincial urban Using some of the insights structure. That character was, provided by this recent literature, first of all, defensive in nature. this paper explores the The York elite's perception of entrepreneurial behaviour of existing conditions had not leading Compact members resident in independently led it to believe in Toronto between 1822 and 1855 and the necessity of a concludes that such activity provincially-based bank. Indeed, conditioned Toronto's quest for from 1818 to 1821, William Allan metropolitan supremacy in Upper was content to act as agent for the Canada. This will be demonstrated .6 Kingston, not by an analysis of the York-Toronto York, seemed to be the most dynamic elite's involvement in bank and urban place in Upper Canada in the railway promotion in this era. To early 1820s. Still reaping the provide context the compact's benefits of the , activities will, where possible, be Kingston's population exceeded compared both with that of its York's by two-thirds.' Not until competitors in rival cities and Kingston pushed its own bank with that of its entrepreneurial forward in 1819 did York, the successors in Toronto after 1850. complacent administrative and 17 political centre of the colony, simply economic. Kingston's stir. Whether its shocked elite initiative threatened the York convinced the Colonial Office to elite's self-perception as delay sanctioning Kings ton's acknowledged leaders in Upper initiative until they could forward Canada. A venture of such their own bill is unclear. At any potential importance as a bank rate, delay did occur, and York could not be safely entrusted sent over a second bill* outside of that elite's control. interestingly enough appropriating Owing to "the want of Kingston's name - the Bank of Upper respectability in the members," it Canada. York's bill received royal would not be possible to work assent in 1822 and although with Kingston's bank.1 1 1 Several Kingston's bank had already been in Americans were, after all, on the operation and enjoyed wide Board of Directors. By contrast, popularity in the eastern region, York's bank suitably adorned with, it lacked a charter and was in the words of one contemporary, labelled the 'Pretended Bank of "Gentry Directors," invited respect Upper Canada.'° and trust.-"-^ Along with Strachan, members of the Robinson, Boulton, Once spurred to action, York's Baldwin, Ridout, Allan and Dunn elite was thorough and ruthless. families dominated the board in Using their control of the the first years of the bank's Executive and Legislative Councils, existence. As Robert Burns has they obtained significant made clear, most of them were among government investment for their "God's Chosen People" - a project and convinced the York-based Upper Canadian elite Government to refuse to accept the accustomed to the perquisites and Pretended Bank's notes as legal exercise of power, not simply in tender.^ Kingston's acquiescence social and political terms but to these manoeuvres was in part also, when necessary, in economic obtained through the promise of matters.13 patronage. Via the influential graces of the then pre-eminent More, however, than the Compact leader, the Reverend John necessity of consolidating power at Strachan, John Macaulay, a past an appropriate class level underlay pupil of Strachan's and a rising the Compact's entrepreneurial Tory editor in Kingston, was led to drive. Metropolitan ambition support York's bank. In return for ranked equally high in that elite's this Strachan offered him the value structure. "Now I am not appointment as the bank's Kingston sorry," Strachan declared in agent. "I have no doubt but that response to Macaulay's comment that it would afford a handsome few shares would be taken up out of remuneration in a very short York, "that we should be left in a time," he assured Macaulay.1^ The great measure to ourselves in the combination of failure at the commencement for to succeed we Colonial Office, local government ought to move cautiously and not to pressure, and disunity soon led to be distracted by contending the Kingston bank's bankruptcy. interests." It mattered not that non-York gentry might like to As Strachan, in his invest - given the desire of York's correspondence with Macaulay makes elite to dominate in Upper Canada, clear, the motivation underlying residence had also to be an York's entrepreneurial coup was not important criterion of 18 - acceptability. It is in this emerging urban centres, lacking any context that Strachan warned formal financial institution, Macaulay that any Kingston branch pressured York's bank to expand its would be firmly under the "control" outlets.18 At the beginning of the of the York directors.^ 1830s, Allan both stood firm in opposition to extension and, via After one year's involvement his position on the Legislative on the directorate, Strachan, Council and by the threatened realizing, "it was not a withholding of loans to potential Clergymanfs place to be at the rivals, fiercely defended his Board,"l^ retired, and from that bank's and York's position against point until mid-century the Compact the chartering of any rival 1 Q bestowed the mantle of Ly entrepreneurial leader on the institutions. shoulders of William Allan. Arguing that the bank's Merchant, administrator, long-time resources did not permit expansion, York resident and distinguished Allan petitioned the Assembly for veteran of the 1812 war, Allan an increase in capital implying stands high on all lists of Upper future extension if successful. At Canada's elite. During his long the same time Allan and the career he sat on the board of the directors granted a series of large Welland Canal Company, held the bonuses prior to an issue of stock post of Governor of the British still unsold from 1822.20 This American Fire and Life Assurance effectively denied any share of Company, acted as first President accrued profits to potential new of the Toronto Board of Trade and shareholders. Residents of sat on both the Executive and competing urban centres pointed out Legislative Councils. His most that those profits, if left in the important business post, however, business, could have been used to was that of President of the Bank finance branch expansion. Allan of Upper Canada. " further inflamed the situation by making it extremely difficult for Allan's general business non-York residents to purchase new strategy reflected the stock. The directors did not entrepreneurial motivation which advertise the intended issue underlay the bank's origin. As a widely; they kept the issue in the result, control of Upper Canada's market for only a short period, and first bank benefitted York in its they allotted only a limited number quest for metropolitan supremacy of shares to each municipal only in the short term. By the end district.^1 Such tactics reinforced of the 1820s, Allan had established the public's image of the bank as only two agencies outside York, one the creation of a small, at Niagara and one at Kingston. self-interested York elite. Neither of these agencies were full fledged branches with local boards This defensive stance could of directors. York exercised tight not halt the rising clamour for new control over both. No notes could banks, however, and by 1837 not be discounted without York only had Kingston and Hamilton approval, and the local agent could obtained rival institutions, but only advise, not act also numerous unchartered banks had independently.17 Even Niagara and emerged to challenge York's and the Kingston chafed at the consequent Bank of Upper Canada's financial delays in obtaining credit. Other hegemony. In the view of one of 19 the bank's pre-eminent promoters, lectured an associate in such competition could have been, 1830.^^ P u b 1 i c pandering if not prevented, at least should form no part of a significantly delayed by proper businessman1s repertoire. "I hate managerial initiatives. By the and despise all such methods - I 1830s argued that have lived so long in the world judicious expansion and more without having recourse to any enlightened profit sharing were means of that kind and I hope to necessary to maintain YorkTs and continue[.] I would not the BankT s ascendancy. ^ But by compromise myself nor allow any of the 1830s, Allan, not Strachan, set the transactions of the Bank to be the York elite's business compromised."25 Finally, Allan strategy. as banker looked with disdain on people he considered to be reckless While both a definition of promoters or speculators. In the trust and capability centred on a early 1830s his wrath was small elite and a narrow conception particularly reserved for the of metropolitan interest underlay activity of James Bethune, that strategy, so too did several steamboat promoter and general more general business principles. speculator par excellence. ° That Since Allan acted as a link between Bethune was a prototype of an the York compact's first emerging figure in a developing entrepreneurial venture and the commercial world, a type with whom Toronto elite's last, some Allan would have to deal closely in explication of those principles is his ensuing railway ventures, Allan required. In fact, as a banker, never appreciated. Nor, as the Allan exhibited behaviour which following will attempt to conditioned and informed his demonstrate, did many of Toronto's subsequent role as railroad entrepreneurial elite. promoter. Allan and the elite maintained In the first place he took his firm control of Toronto's first responsibilities seriously. "I venture into railway have," he wrote in 1835, "always promotion. *-' While the initial held it as a rule that you should drive and initiative probably endeavour to understand fully - and emerged from a relative newcomer look after what you undertake, in (the merchant James Newbigging), any Public duty." Never content to Newbigging was himself quite be a figurehead, Allan admitted acceptable to that elite. A that he "took upon myself in many sometime director of the Bank of instances to decide and act upon Upper Canada, he also sat with and do several things that I Allan on the board of the British conceived right and safe and for American Fire and Life Assurance the Interest of the Institution to Company and was active in the do - in place of referring or establishment of that most elite of Submitting them to the societies, the Upper Canada Club. Board.... "23 j?0r Allan expertise Suggestive of Allan's continued in business was synonymous with dominance in entrepreneurial caution. "I prefer keeping within matters, however, it was he, not bounds and on the Secure Side Newbigging, who topped the polls in instead of Extending the business the directorate vote and became in and have to Contract it or withdraw April, 1837, President of the some of those Agencies," he Toronto and Lake Huron Railway. 20 -

Joining him on the board were The new technological era of representatives from the Macaulay, steamships and railways pressed as Strachan, Jarvis and Ridout never before upon the Upper families.^° "God's Chosen People," Canadian consciousness. As one continued in the saddle. fringe member of the Compact commented, "1 find myself falling The failure of this early behind the age and cannot keep pace promotional activity left a bitter with the 'March of taste in Allan's mouth. While he Intellect.'..."30 admitted that the rebellions and a general economic recession Commensurate with these "clouded" the initial "happy changes, a tentative sense of prospects" and that these were self-reliance emerged in Upper events "over which the Directors Canada. "We have been so much had no control," he nonetheless accustomed to look up to some great believed that "the greater number person to do great things for us," of defaulters might ... have met mused the Toronto Globe3 "that their Instalments and ought in it will be almost impossible to honour and justice to have done so realize that our fortunes are in even at some inconvenience to our own hands."3-'- In part this themselves." More than simply being comment referred to the devolution momentary pique occasioned by a of formal British sovereignty; in disappointing end to an exciting part it referred to the crumbling project, this credo touched the of an internal hierarchical heart of Allan's business ethics. structure. Acknowledged responsibility, even when painful, underlay a properly In this climate the carefully functioning society. Otherwise crafted control of entrepreneurial what separated speculators and development maintained by the charlatans from men of integrity? Family Compact met a two-fold The fact that "several subscribers challenge. The metropolitan of large property and some ambitions of Hamilton, the most consideration in society" had dynamic urban centre in Upper defaulted, further rankled and Canada in the 1840s, set Toronto bewildered the railway's president. back on its heels. Leading the Was Toronto's elite succumbing to Hamilton initiative were several the false temptations of easy and promoter-businessmen who had, for painless progress? "Such conduct," various reasons in the 1820s and Allan concluded, "cannot be too 1840s, found York-Toronto severely censured." Allan ill-suited to their needs. At the determined that such an offence to same time the Compact suffered his business and social code would challenge from within. Responding not recur without suitable to the Globe's plea for "active retribution.^" money-seeking businessmen," young, aggressive Toronto promoters did By the mid and late 1840s not wait for elite Family Compact values were under leadership.32 Instead, they set severe stress. Political control out on their own in an attempt to could no longer be wielded with better both their personal and impunity from the safety of the their city's fortunes. The Executive and Legislative Councils. traditional and ultimately outmoded Traditional trade structures were response of Toronto's elite to this in the process of dismantlement. double pressure gave initial 21 advantage to Hamilton in the Donald Bethune had articled with competition to' promote Upper Judge whose nephew Canadian railways. sat on the board with Bethune. Also Bethune was a Throughout 1845 Upper Canadian close friend and law associate of communities held meetings, H.J. Boulton whose nephew W.H. appointed parliamentary and Boulton was a Toronto and Lake financial agents and generally Huron director. At least ten were schemed on behalf of one or another conservatives, and one was a projected railway project.33 By moderate reformer. It is little the end of the year serious wonder that the exasperated Toronto attention had focussed on two Globe could comment that "the Huron plans, both revised from failed Company has been from the first initiatives in the 1830s, the Great conducted on the closed borough Western Railway out of Hamilton and system. J-> the Toronto and Lake Huron Railway from Toronto. Aiming at a common By contrast, the Great Western hinterland the promoters of both directorate lacked a distinguished railways understood that only one pedigree. In fact, with the could triumph.34 exception of Allan Napier MacNab, few were well known outside the In terms of personnel, the environs of Hamilton. The contenders exhibited significant seemingly undistinguished Hamilton differences. Once again William directorate, however, possessed Allan headed the Toronto group. several qualities which the Toronto Once again he was flanked by board lacked. Fewer had been born Jarvises, Ridouts, Boultons and in Upper Canada, and more were Gambles. Well established merchants. The presence of the familial, social, and business non-Canadian born merchants on the interaction bound this group into a Great Western's board opened to tight unit. Nearly one-half of the that enterprise international thirteen Toronto directors active financial contacts not as readily between 1845-48 had been born in available to the Toronto Upper Canada, and six of the group.36 thirteen had been born before 1800. Five had been directors of the Equally important, Hamilton's railway in the 1830s, and two entrepreneurial elite did not share others were among the original the business ethics of William incorporators. Five or more Allan. Moreover, in contrast to practised law. At least nine the Toronto group, which had adhered to the establishment enjoyed political and economic Anglican faith. Six were or had control for nearly three decades, been associated with the British the Hamilton group had yet to American Fire and Life Assurance achieve social stature. Isaac Company; four were active in the Buchanan, his brother Peter, and Bank of Upper Canada, two with the their partner, R.W. Harris, and two with the Hamilton's aggressive merchant Toronto-Hamilton and Niagara leaders, had left Toronto in the Electro-Magnetic Telegraph Company. early 1840s for the more promising Clarke Gamble was the law partner environs at the head of the lake. and brother-in-law of co-director Similarly, Hamilton's pseudo laird, W.H. Boulton and the brother-in-law Sir Allan Napier MacNab, had quit of the president, William Allan. Toronto in the late 1820s and from - 22 -

that time had been busy responses by Widder to establishing a power base from ever-changing events in London. which to challenge Toronto's Gwynne had himself contacted the leaders for economic and social Canada Company, and before Widder power in Upper Canada. 37 in the arrived in England the Canada course of so doing the tactics Company had taken over Gwynne's employed by the Hamilton group company. Allan's desire for. a differed considerably from the Toronto controlled enterprise, practices condoned by Allan.^^ Widder wrote, could not be Buoyed by rapid population growth realized. A merger, giving and general economic development in effective control to the English the Hamilton area, the Great investors, was the best that could Western's board and its agents be accomplished.^1 But, like would prove to be powerful Allan, the Canada Company, too, adversaries. proceeded slowly and cautiously. Responding to Widder's query as to The Hamilton group also why they had failed to enlist the possessed relative unity, a unity support of some of the more which was absent from the Toronto prominent British railroad organization. By 1845, Toronto's speculators, the Company pleaded elite was severely pressured from lack of detailed information upon within. J.W. Gwynne, a young which to take any action and, they Toronto lawyer had provisionally admitted, they only "stood forward established, without elite in the eleventh hour to endeavour sanction, in London, England, his to rescue [the project] from own railway company. Not only did falling into irretrievable this initiative provoke and offend disrepute."^ Given the expansive Allan - he viewed it as a "bubble and aggressive tempo of the times, scheme" not worthy of their reluctant and even passive recognition^" - but it weakened approach to railroad promotion Toronto's presence in international could not lead to success. markets and led to bickering within the city itself. The promotional techniques of Allan and the Canada Company The contenders were a study in further illustrate their contrast in terms of tactics. entrepreneurial style. Each Consistent with his past applicant for Toronto and Lake entrepreneurial activity, Allan Huron shares had to furnish a conducted a cautious methodical reputable reference, and all appraisal of all contingencies applications were rigorously before acting. Only when he heard examined. Often potential of Gwynne! s London venture did he purchasers were refused on the despatch an agent to that financial grounds of insufficient information capital. Looking for assistance or lack of financial backing. from the Canada Company, for which Also, many applicants were sold a Allan had once toiled, he appointed smaller number of shares than they Frederick Widder, the Canada had originally requested.^ Such Company's current Canadian agent, a policy was, of course, sound and to act for the Toronto and Lake sane. Obviously the Canada Company Huron. As agent, Widder received and the majority of the Toronto detailed instructions and stern directors were not interested in warnings to adhere to them. ^ The lining their pockets by a bogus instructions precluded flexible promotional scheme. Their hopes 23 for profit centred on increased Peter Buchanan and MacNab land values and increased trade. themselves heavily speculated in Since this could best be Great Western stock. ^ While both accomplished by the completion of men doubtless desired the Great the railway, what sense would it Western1s ultimate completion, they make to sell shares to purchasers also, in a manner Allan abhorred, who were able to pay only the first sought immediate personal gain. installment? From this perspective a quick sale, while it might not in the long-term Yet as Widder realized their assist the railway, would in the approach had one serious drawback: short-term assist the pocketbook. it left the door open for more aggressive competitors. As a Both entrepreneurial modes, result of Hamilton1s entry into the then, suffered internal weaknesses. railway stakes, the Great Western As well, their competitive visage railway and its president and in the London market probably led agent, Sir Allan Napier MacNab, many potential investors to hold undercut the Toronto initiative. back. Finally, the buoyant MacNab and his London co-agent financial market suddenly and Peter Buchanan were not hamstrung precipitously fell leaving both by instructions from Hamilton. To enterprises far short of sufficient WidderTs despair, they quickly capital for commencement. entered into an arrangement with a group of prominent British railway There were lessons to be speculators led by George Hudson. learned from these failures. As "There is every reason," Widder crusty as ever, Allan determined urged Allan, "why no hesitation that all defaulters would be taken should take place on your part and to court and indeed some that you should forward to me were.^° Increasingly he showed ample, complete and general powers himself to be out of touch with the to do everything that may be times. If "honour and justice" conducive to the promotion here of favoured Allan, the public did not. your enterprise...." He "deplored" Even papers sympathetic to.the the fact that the Toronto directors Toronto and Lake Huron's cause had not acted more swiftly in the "Strongly deprecate[d] this sending of an agent to London. Had action.^' In fact the Compact this been done even "a few weeks members, as entrepreneurs, never before ... all difficulties would recovered from this setback. Yet have been avoided." There was if Toronto denied the Compact the little, Widder continued, that he role of entrepreneurial leader, the could now do as "the Instructions I search for a substitute proved to hold from you pointedly interdict be slow and painful. With the my course which may tend to decline of Compact control, counteract their [G.W.R. ] entrepreneurship became more widely proceedings [although] they are not diffused throughout Toronto's sparing in their animadvertions economic community. [sic] upon yours. "^ John W. Gwynne came to the Unlike Allan, however, the fore as did a like-minded promoter, Great Western directors and agents Frederick C. Capreol. Both men were not overly concerned about the enlisted some support. Such future character of potential stock railway powers as the lawyer- purchases. Rather, both politician J.C. Morrison, the 24 banker John Cameron, and the lawyer enthusiastic. So too was Thomas Gait merged with established the Toronto Patriot. Capreol1s politicians and vigorous spirit was contagious. On Adam Ferguson to follow Gwynne and the surface it would seem that he confront Allan and his men. The had attracted a more wide-ranging new project also received support and dynamic group than had any of from the Jarvis family and Gwynnefs his promoter predecessors. brother, the doctor, along with several of the latterfs Appearrances were deceiving. professional friends. The gusty That enthusiasm for a railway was rhetoric of the Globe provided the beginning to affect many important needed newspaper backing. Yet the Torontonians was evident. Equal solid core of Toronto!s mercantile support for Capreol and his and professional establishment unorthodox financial scheme seemed stood aloof. Early marked by much less obvious. Opposition was muted of that community as a until Capreol approached the City speculator, Gwynne had difficulty Council with the suggestion that in proving his sincerity. ° A they subscribe £100,000 in shaky amalgam of the old and the debentures to the railway.52 After new, his scheme had no more prolonged debate, the Council, substantial Toronto support than convinced by Bowes, allowed the did the Toronto and Lake Huron. issue to be put to public vote.53 Fears of increased Others in Toronto were taxation to support the playthings attracted to the fertile schemes of of the rich were fanned by the Frederick C. Capreol. In December, Examiner and the Globe. To 1848, Capreol published a a degree the issue became a "Prospectus for a Grand Canadian touchstone for the business and Railroad Lottery"^ anc[ for the moral precepts of the age. Because next two years Torontonians argued CapreolTs scheme fed on "a strong over its merits. Among its temptation to attain wealth without supporters were the rising labor," the Examiner felt it was financiers James Mitchell and John immoral and could Cameron, as well as the President not be supported.54 predictions of of the Bank of Upper Canada, widespread suicides by disappointed William Proudfoot, the manufacturer ticket holders were G.H. Cheney, the merchant and soon whispered.55 "ye sincerely hope," to be banker, E.F. Whittemore, and intoned the Christian Guardian3 a sprinkling of some lesser known "that there will be sufficient good merchants. Sons of the old Family sense and moral feeling in the Compact leaders, including James community to veto the uncertain and Strachan, G.W. Allan and J. Lukin gambling principle upon which the Robinson, were active scheme is founded."56 ]y[r# Taylor, publicly.50 The roadfs case was a prominent soap and candle manfully put in the City Council by manufacturer, felt the lottery the wealthy dry goods would "deprave and demoralize" the merchant, John G. Bowes.51 To this citizenry of Toronto. The Board of predominantly Toronto group Trade denounced it.57 Doubtless Benjamin Holmes, M.P. for Montreal, William Allan, although publicly lent his not insignificant support. silent, felt the same. The virtue The British Colonist, guided by of honest work was an attitude a future vice president of the strongly rooted in the Compact!s railway, Hugh Scobie, was value structure. Only a few years - 25 - previously Hugh Scobie, a Scottish in the railway Ts stock. Since the Presbyterian, had warned that stock was unsaleable, the railway Canadians could not take credit for required debentures to pay the achievements not earned by hard contractors so that the latter labour. 5" That he was one who could raise cash for an important could overlook this work ethic and iron shipment. But Bowes1 support both the lottery and involvement did not stop there. promoter indicates a gradual Both he and Francis Hincks, acceptance in some circles of the Canada's Inspector General and promoters role. Of interest, too, Bowes' contact with British the young patriarchs, who for the financiers, speculated on these most part inherited their wealth, debentures and, profitting from had no difficulty in supporting inside information, cleared over Capreol's scheme. Financiers who, £8,000 between them.61 a critic might declare, lived off other men's labour, were eager Toronto's reaction to Bowes' advocates. Among the merchant and manoeuvres reflected the prevailing industrial classes and certainly uncertainty concerning proper among the working classes, however, entrepreneurial initiatives. The reactions tended to be negative. old behavioural code of the Family Compact was no longer a sufficient While a referendum held in or an automatic yardstick. June 1850, decisively defeated Investigative committees set up by the proposal, ^ Capreol had the Provincial Parliament and by nevertheless realized several ends. the City Council exonerated both He had obtained a charter, and, Bowes and Hincks. Newspapers more importantly, he had kindled split, often, but not simply, on amongst a new and potentially party lines. Most City Council powerful Toronto group a lasting members who supported Bowes lost in interest in railways. As the their bids for re-election. Those Globe soon remarked, "It shows council members who criticized his a decided change in affairs when conduct attained electoral success. any anxiety is shown to become a Yet Bowes, himself, succeeded in a Director of a Canadian Railway bid for the Legislative Assembly in Co."60 The setting had been 1854. Some concerned Torontonians created for the emergence of a even took Bowes to court in an substantial alternative to Compact attempt to gain his profits for entrepreneurship. their city. Although Bowes ultimately lost, Upper Canada's An Irish born merchant and jurists, like Toronto's society, local municipal politician rose to were far from united on their the task of consolidating and verdicts."2 directing this alternative. Using both mercantile contacts and local A most significant indication political experience, John G. of changing views concerning Bowes, at several critical points entrepreneurial behaviour came from in the promotion of Toronto's first Upper Canada's Chief Justice, John successful railway, the Ontario, Beverley Robinson. The old Simcoe and Huron Union (later Compact, Tory leader, a man, renamed the Northern), raised according to recent scholarship, of needed money. As , steadfast character and high moral he convinced the City Council to standards, a man who believed that invest £50,000 of city debentures economic and material "progress 26 - should be controlled and gradual, and advanced by those who and achieved through effort, not neither had, nor believed they speculation," issued a seventy-six had, any personal pecuniary page minority report unequivocally interest in pushing them supportive of all of Bowes ' forward, or who, while they activities.63 were intrusted with the public duty acquired no interest His reasons were interesting which could be affected by the and revealing. According to him it course which they might was "not ... established by the publicly take on such evidence that the defendant ' s occas i ons....68 profit was made at the expense of the city."64 The reverse was in Naturally "wherever there is a fact the case. Everyone questioned conflict of interest," there was an testified that the city has gained, attendant danger; however, "this not lost, by the transactions. cannot be avoided, I fear, without Nevertheless, even supposing this confining men in their transactions to be true, Robinson was enough of within a narrower field than has a jurist to realize "that there is been found practicable." The no necessity for proving any actual public, it would seem, would simply fraud or fraudulent intention, or have to accept the consequent to show that any injury has been "inconvenience."69 A little private produced by the transaction which speculation indulged in by Canada*s is complained of" in order to find public men kept, Robinson implied, Bowes guilty of a conflict of the economic and political interest."5 machinery running smoothly. Certainly the Chief Justice For the Chief Justice the believed that the Bowes case serving of two masters was a illustrated the truth of this. How inevitable and in many instances a else, other than by Mayor Bowes' beneficial fact of life. Actions intervention, Robinson queried, similar to those of the mayor, he could the contractors have sold asserted, were very widespread. their debentures in time to meet Since "such transactions have been their iron payments. "It was only of constant occurrence in all parts by some such train being laid in of the province" to brand them advance of legislative measures as illegal "would take the commercial was laid by the defendant and Mr. world wholly by surprise."66 it Hincks, under the stimulus of would be visionary to believe that personal gain, that the difficulty Canadian or even British could have been met at the time transportation routes had been ...," he explained. u advanced "wholly by the votes of persons who could have no private Robinson's decision is interests which might conflict with important on at least two levels. their public duty."67 It was simply It suggests that surviving Compact not so. Of this Robinson did not leaders were sanctioning a despair. significantly different mode of entrepreneurship from that over It would be a very slowly which they had once presided. When progressing country, I one realizes the legal context from apprehend, in which all public which the decision emerged, this enterprises and improvements transformation is given even should be left to be suggested greater import. In a recent 27 - thoughtful and thorough survey of entrepreneurs, reacted much more the relationship between Upper swiftly to the failures of the Canadian law and the economy, 1840s. As well, the speculative Professor R.C.B. Risk has concluded tendency obvious in Hamilton's "the overwhelming impression from first promotional venture was given hundreds and thousands of cases is lower priority after 1850. that the courts generally were Possessing relative internal unity willing to accept and apply and municipal support and relying whatever seemed to be settled law, both on past railway experience and and felt no responsibility for international mercantile contacts, change."'-'- In comparison to the these merchants amassed sufficient United States, Upper Canadian capital and expertise to create courts were "deferential to Upper Canada's first functioning apparent authority, unwilling to railway of the 1850s, the 224 mile, initiate change, and inclined to Great Western. '-> consider issues in terms of precedents and doctrine."'^ Several incidents suggest that RobinsonTs decisions especially fit Hamilton entrepreneurs took full this mould.7/J ^ Rarely did he depart advantage of Toronto disunity. from English common law and argue Through none other than the agency the merits of a case on the basis of the Bank of Upper Canada, the of society's needs, prevalent Great Western procured important practice or sensitivity to change. short-term financial support. Nor Yet in the Bowes' case this is did they rest content with the precisely what he did do. His successful completion of the Great argument for acquittal clearly Western. During 1854-55 they rested on a belief that needed completed a railway running from technological development justified Hamilton to Toronto, in effect a new entrepreneurial style. It treating Toronto as if it were part seems at least probable that the of Hamilton's hinterland. In the failure of the Compact1s approach process of promoting this railway coupled with the consequent they actually enlisted the Bank of disorientation of Toronto's Upper Canada's long-time manager, metropolitan development, as T.G. Ridout, as an agent to measured by its limited success in superintend a carefully railway promotion, so dismayed the orchestrated share distribution, longtime York-Toronto leader, that orchestrated, that is, in a manner he adopted this designed to preclude significant "ins trumentalist"' ^ perspective Toronto participation.'" In in an attempt to response Toronto was reduced, under bolster Toronto's sagging the tutelage of the late William ambitions. Allan's son, to hosting a ball to celebrate Hamilton's It is clear that the weight of entrepreneurial triumph. "Well," a the Compact's presence and the bemused Thomas Ridout wrote to problems Toronto incurred Isaac Buchanan, developing a suitable entrepreneurial alternative had it is a glorious thing to have significantly hampered that city in the Hamilton and Toronto its struggle to control Upper railway finished and in good Canadian railway development. working order all done as if Hamilton merchants, for example, by magic for nobody seems to never fettered by Compact know where the money came - 28

from. We are indebted for Compact, to a surprising extent, this Road - we all know, to did."-1- Nor were these values you, and your friends - with inconsistent with the ruthless whom the whole matter emanated competitive edge exhibited by the - and without whose aid and Compact in their bank promotion and management it would not have tightly controlled managerial been accomplished, perhaps, behaviour. From the Compact1s view for many years to come. this could be justified as legitimate, hard-nosed efficient The people of Toronto strategy. In this sense one can seem to have suddenly wakened agree with Adam Shorttfs conclusion up, after a long sleep like that "with all their anxiety to Rip Van Winkle and are about maintain the Bank of Upper Canada to express their astonishment as a close preserve, there is no at the changes that has Is ici evidence that the directors and taken place in their world. officers of the bank were other By a grand explosion and than strictly honourable and honest demonstration intended as they in all the details of the bank's think to wake up everybody operations."82 else within the radius of a thousand mi les - to let them As with the Boston Brahmins, know the wondrous work that so with the Toronto elite, "the has been accomplished in these greatest sin was later days.7 speculation."8^ Hard work brought success. And the entrepreneurial-minded among the And, to add insult to injury, a Compact did work hard. Speculation second railway which Toronto struck the core of their conception entrepreneurs had promoted, the of a properly regulated society. Toronto and Guelph, was in the Not even the Americans, John process of being taken over by the Beverley Robinson wrote in 1840, 78 Montreal-based Grand Trunk. In could succeed by avoiding "the the early 1850s Toronto had been tedious process of labour."8^ Terry bested by both a smaller and a Cook has correctly noted that for larger rival. the tory Compact "speculative enterprise introduced a dangerous In their own limited way element of uncertainty to the whole York-Toronto's Compact espoused body politic."8^ It would never values reminiscent of those of the do to have too much mobility - ante-bellum Boston Brahmins.'9 "The either up or down - in society. As governing guide ... was moderation; a result speculation played no role never hazarding what he had for in Allan's entrepreneurial excessive gain, never risking behaviour, nor, to the extent that independence or sullying character Allan could control it, did it in in the pursuit of wealth," so the entrepreneurial behaviour of concluded one appraisal of the Toronto's bankers and railway Brahmin's values.8^ It might promoters. equally have been written of William Allan and the York elite. Probably, as Stelter implies, And while Boston's elite may not nowhere in Upper Canada were these have systematically integrated values as rigorously held as in their values with their York-Toronto. At its height the entrepreneurial practice, Toronto1s Compact set the contours of - 29

York-Toronto!s entrepreneurial practices, and a further indication activity and, from the perspective of what was "swept away" in the of banking practice, as one of that years after 1845 comes from the elite came to understand, behaviour of William Allan's son, constricted such development. The after he became President of the insistence by this elite on stable Bank of Upper Canada. Unlike the and conservtive modes of behaviour, father, who proudly claimed never with regard to banking practices in to have borrowed a penny from the the 1830s, became increasingly bank while president, the son, in anachronistic in the climate of the scant five years prior to the rapid and multi-level change bank's bankruptcy, borrowed following 1845. Like Boston's $25,000. He repaid only 88 elite, Allan and his followers were $12,500. pressured from within and from rival cities."" But they did not The tendency of some give up easily. Their persistence, historians to explain pre-1850 coupled with the problem of findng business behaviour by reference to a suitable entrepreneurial focus a set of general characteristics after their decline, limited the descriptive of a typical merchant development of a Toronto based seems insufficient."^ Merchants railway network in the 1850s. differed, as did Ironically this may have turned out entrepreneurship, within a to be in Toronto's ultimate mercantile economy. In fact, the interest. Hamilton, not as nature of mercantile capital, dominated by Compact values, short term, circulating, et cetera, promoted so many railways in the may not have been the most 1850s, that by the early 1860s she important characteristic of was bankrupt. With the entrepreneurship in this period. re-emergence of railway mania in Historians in England, the United the 1870s, Toronto, financially States, and Canada have suggested solid, quickly eclipsed Hamilton as that the behaviour of nineteenth Ontario's railway centre. century working men and women can best be understood as Even if, from the perspective socio-cultural reflections of a of Toronto's ultimate railway previous era. Class realities dominance, there was virtue in the changed more quickly than Compact's mode of entrepreneurship, socio-cu1tura1 habits. The it nonetheless seems true that the persistence of anachronistic entrepreneurial style itself did behaviour; that is, behaviour not persist. In place of Compact inappropriate to existing material behaviour a somewhat more realities, can thus be agressive, certainly more flexible explained.^ and definitely more speculative, business code emerged."' If the This perspective seems equally Toronto/Hamilton contrast noted in relevant to an understanding of this paper is any guide, then the Upper Canadian entrepreneurial stronger the Compact the longer it behaviour. As Adam Shortt glimpsed took for this new code to dominate over seventy-five years ago, the behaviour. But even in Toronto by social and political precepts the mid 1850s little was left of underlying the Constitutional Act old entrepreneurial customs. By of 1791 conditioned much of Upper 1855 could Canada's business behaviour."-'- And, unequivocally condone new as Pierre Tousignant has made 30

clear, those precepts were largely indication of the confirmed anti-mercantile."^ By approaching acceptance of this view see entrepreneurship from a David Gagan's review of Leo socio-cultural perspective, Johnson's History of the appreciation of entrepreneurial County of Ontario in the behaviour is enlarged.^ Operating Canadian Historical Review., in accord with the social values of Vol . 59 (1978) , p. 375. 1791, some, at least, of 3 Johnson, "The Upper Canada T York-Toronto s Compact pursued a Club," p. 163. development policy consistent with 4 Gilbert A. Stelter, "Urban its values. Reward accrued as much Development in a Frontier from the maintenance of a stable Region: The Towns and Cities society as from any primary desire of Upper Canada, 1784-1851," for material gain.94 in this sense unpublished paper presented at only a certain type of the Annual Meeting, C.H.A., entrepreneurship was appropriate. Saskatoon, June 1979, pp. In Toronto a different approach 45-47. For a general review emerged when those social values of literature on urban elites were thoroughly disrupted by the see David Hammack, "Problems multi-level changes of the late of Power in the Historical 1840s. The strength of Compact Studies of Cities, 1800-1960," values within each community American Historical Review^ determined the pace of Vol. 83 (1978), pp. 323-349. entrepreneurial change. 5 For a helpful discus.sion of entrepreneurship in another * * * Canadian setting see L.R. Fischer' and E.W. Sager, eds., NOTES The Enterprising Canadians: Entrepreneurs and Economic 1 J.K. Johnson, "Introduction," Development in Eastern Canada_, in Johnson, éd., Historical 1820-1914 (St. John's, 1979). Essays on Upper Canada See especially the articles by (Toronto, 1975); Johnson, "The Fischer and C.W. Palmer. Upper Canada Club and the 6 Public Archives of Canada Upper Canadian Elite, (P.A.C.), Bank of Montreal 1837-1840," Ontario History3 Papers, Bank of Montreal Vol. 69 ( 1977), pp. 15 1-168; Letterbook, Vol. A, pp. 63, F.H. Armstrong, "The Oligarchy 234. of the Western District of 7 Stelter, "Urban Development in Upper Canada, 1788-1841," a Frontier Region," pp. 9-10. c .H .A., Historical Papers 8 A. Shortt, "The Early History 1977_, pp. 68-103; and B. of Canadian Banking," Wilson, "The Struggle for Journal of the Canadian Wealth and Power at Fort Banker's Associationj Vol. 4 Niagara," Ontario History3 ( 1897) , pp. 1-21 ; P.A.C., R.G. Vol. 68 (1976), pp. 137-154. #19, B26, 1130, John Spencer 2 H.G.S. Aitken, "The Family to Dunn, July 26, 1821. Compact and the Wei land Canal 9 P.A.C. , R .G. #19, B26, 1172, Company" and R.E. Saunders, Dunn to Hi I lier, October 16, "What was the Family Compact?" 1821; Dunn to Robert Smith, Both articles are reprinted in October 20, 1 821 . Johnson, Historical Essays 10 Provincial Archives of Ontario on Upper Canada. For an (P.A.O.), Macau lay Papers, - 31

Strachan to Macaulay, July 5, of the House of Assembly^ 1821 . Appendi x, 1832-33. 1 1 Ibid. 2 2 P.A.O., Macaulay Papers, 12 P.A.O., Jarvis-PowelI Papers, Strachan to Macaulay, May 3, W.B. Robinson to S.P. Jarvis, 1 831 . J anuary 28, 1 822. 23 Ibid, j Allan to Macaulay, 13 Robert Burns, "God's Chosen J une 9, 1835. People: The Origins of 24 Ibid, j J une 19, 1 8 30, Toronto Society, 1793-1818," 25 Ibid, j J une 9, 1 8 35. c . H .A., Historical Papers 26 Ibid, j August 31 , September 1973; pp. 213-228. 2 and 21 1833;Pete r 14 P.A.O., Macaulay Papers, Baskerville, "The Entrepreneur Strachan to Macaulay, July 5, and the Metropolitan Impulse: 1 821 . James Grey Bethune and 15 P.A.O., John Strachan Cobourg, 1825-36," in J. Letterbook, 1853-54, p. 313. Petryshyn, ed. Victorian Strachan to Fuller, September Cobourg (Belleville, 1976), 19, 1853 (pri vate). pp. 56-70. 16 M.L. Mag ï I I , "William Allan, 27 For an extended discussion see Pioneer Business Executive," F.H. Armstrong, "Toronto's in F.H. Armstrong, et alj First Railway Venture,

eds., Aspects of Nineteenth 18 34-38," Ontario History3 Century Ontario (Toronto, Vol. 58 (1966), pp. 21-41 . 1974). 2 8 M.T.C.L., Allan Railroad 17 Upper Canada Court of Queen's Papers, Minutes of the Toronto

Bench, Reports3 Old Style, and Lake Huron Railway, April Vol. 5, 1836-38, Bank of Upper 13, 1837. Canada vs. Covert et al. 3 pp. 29 Ibid.^ Committee Report, 1838. 541-550. 30 Queen's University Archives, 18 Kingston Chronicle3 February Macaulay Papers, Vol. 1, L. 6, 1830; Montreal Gazette^ Fraser to Macaulay, September October 18, 1831; Metropolitan 9, 1851. Toronto Central Library 31 Toronto Globej January 2, (M.T.C.L.), S.P. Jarvis 1 847. Papers, Vol. 4, McCormick to 32 Ibid, j December 5, 1846. Jarvis, March 2, 1832. 33 Toronto British Colonist^ 19 P.A.O., Macaulay Papers, Allan March 28, Apr il 1 and 11, May to Macaulay, February 8, 1830. 27, 1845 .

20 Provincial Archives of Quebec, 34 Ibid. 3 May 27, 1 845. Quesnel Papers, J.S. Baldwin 35 Toronto Globej December 5, to Jules Q ues ne I I, January 10, 1 846. 18 32; Upper Canada 36 On the significance of this Gazette, June 21, 1832. social background for Montreal Gazettej January 5 , entrepreneurship see W.P. 1 833. Glad, "Approaches to a Theory 21 M.T.C.L., Allan Papers, of Entrepreneurial Formation," Merritt to Allan, May Explorations in 9, 1832 and Macaulay to Allan, Entrepreneurial History May 23, 1832; Report of Select second series, Vol. 4 (1967), Committee Appointed to Inquire p. 253. In 1846, the into the Manner of the following were on the Great Disposition of the Bank of Western Rai Iway Board: Upper Canada Stock, Journals MacNab, Harris, G.S. Tiffany, 32 -

James B. Ewart, P. Carroll, vs. the Hon. George and H. McKinstry. The Toronto Crookshank, pp. 309-322. board had no merchant 47 Toronto British Colonist^ representation. By 1849, at August 27, 1847 . least four merchants sat on 48 Ibid, j January 29 and February the board of the Great 2, 1847 . Wes tern. 49 Toronto Globe3 December 13, 3 7 D. Me Cal la, The Upper 1 848. Canadian Trade, 1834-72: A 50 Toronto Patriotj April 18, r Study of the Buchanans 1850; Toronto British Business (Toronto, 1979); Colonistj May 21, 1850. Peter Baskervi I le, "Allan 51 Toronto Patriot^ May 17, 1850. Napier Mac Nab," Dictionary of 52 City of Toronto Archives, Canadian Biography, Vol. Ix Toronto City Council (Toronto, 1974), pp. 519-527. Archives, Capreol to 38 Peter Baskervi I le, "The Mayor, January 2, 1850. Boardroom and Beyond: Aspects 5 3 Toronto British Colonistj of the Upper Canadi an.Rai Iroad February 22, 1850. Community," Ph.D. Thesis 54 Toronto Examiner^ January 16, (Queen's University, 1973), 1 850. C h apters 1 and 3 . 5 5 Ibid, j, March 20, 1850. 39 M.T.C.L., Allan Railroad 56 Toronto Christian Guardian^ Papers, Gwynne to Widder, June April 24, 1850. 18, 1945. 57 Toronto British Colonist^ 40 Ibid, j Instructions to Widder, J anuary 29 and May 31 , 1850. August 4, 1845 . 58 Ibid, j, January 2, 1846. 4 1 Ibid» j Widder to Directors, 59 Toronto' Examiner 3 June 5, September 17, 1845. 1 850. 4 2 Ibid, j October 3, 1845. 60 Toronto G^j March 30, 1852. 43 P.A.C., Toronto and Lake Huron 61 Baskervi I le, "The Boardroom Railway Papers (T.L.H. and Beyond, " pp. 172-191. Papers), Vol. 1. Allotment 6 2 Ibid, j pp. 191-198; W.G. Lists, August 30, 1845; Lists Ormsby, "J.G. Bowes," of Application, September, Dictionary of Canadian 1845; Franks to?, September 3, Biography ix, pp. 7 6-77. 1845; P.A.O., Canada Company 63 T. Cook, "John Beverly Papers and T.L.H. Papers, two Robinson and the Conservative volumes of share applications. Blueprint for the Upper 44 M.T.C.L., Allan Railroad Canadian Community," Ontario Papers, Widder to Directors, History> Vol. 64 (1972), pp. October 3, 1845. 79-94; R.C.B. Disk, "The Law 45 See, for example, P.A.C., and the Economy in Buchanan Papers, Vol. 13, P. M îd-N i neteenth Century Buchanan to Issac Buchanan, Ontario: A Perspective," October 3 and November 3, University of Toronto Law 1 845. Journal^ Vol. 27 (1977), p. 46 P.A.C., T.L.H. Papers, Vol. 1. 420. Toronto Board Minutes, 6 4 Grant fs Chancery Reports> Vol. December 15, 1846, and May and 6 pp. 38 , 9 , 18. June, 1847; Upper Canada Court 6 5 Ibid, j p. 18. of Queen's Bench, Reports3 6 6 Ibid, j pp. 36, 2 0-21 . Vol. 4, 1847, City of Toronto 6 7 Ibid, j p. 16. and Lake Huron Rai Iway Company 6 8 Ibid. 6 9 Ibid. Enterprise," p. 450. 7 0 Ibid, j p. 43. 87 For an example of this code in 71 Risk, "The Law and the Hamilton, see M. Katz, The E conomy, " p. 4 35. People of Hamilton j Canada 7 2 Ibid., p. 4 38. West (Cambridge, Mass., 1975), 7 3 Ibid, j p. 43 1 . pp. 196-208. 7 4 Ibid, _, p. 4 35. 88 P.A.C., R.G. #19, CI, 1195, p. 75 See D. Mc C a I I a , "Peter 695. Buchanan, London Agent for the 89 T. Naylor, "The Rise and Fall Great West Railway of Canada," of the Third Commercial Empire in D.S. Macmillan, éd., of the St. Lawrence," in G. Canadian Business History: Teepie, éd., Capitalism and Selected Studies (Toronto, the National Question in 1972); and Peter Baskervi I le, Canada (Toronto, 1972), pp. "Americans in Britain's 1-13. Backyard: The Railway Era in 90 See, for example, E.P. Upper Canada, 1845-1880," Thompson, "Time, Work- Business History Review Discipline, and Industrial (f orth com i n g). Capitalism," Past and 76 P.A.C., Buchanan Papers, Vol. Presentj Vol, 28 (1967), pp. 52, Issac Buchanan to T.G. 56-97; H.G. Gutman, "Work, Ridout, December 25, 1852 and Culture and Society in February 19, 1853 (private). I ndustrial iz i ng America, 77 Ibid, j Ridout to Buchanan, 18 15 - 19 19," American December 8, 1855. Historical Review3 Vol. 7 8 78 A.W. Currie, The Grand Trunk (1973), pp. 531-588; and Bryan Railway of Canada (Toronto, Palmer, A Culture in Conflict: 1957), p. 166. Skilled Workers and Industrial 79 See Paul Goodman, "Ethics and C apit alism in Hamilton j Enterprise: The Values of a Ontario _, 1860-1914 (Montreal, Boston Elite, 1800-1860," 1979) . American Quarterly (1966), pp. 91 Shortt, "Canadian Currency 437-451; F.C. Jaher, "The Banking," p. 232. Boston Brahmins in the Age of 92 Pierre Tousignant, Industrial Capitalism," in "Problématique pour une Jaher, éd., The Age of nouvelle approche de la Industrialism in America Constitution de 179 1," Revue r (New York, 1968), pp. 188-262. d histoire de l'Amérique 80 Goodman, "Ethics and Françaisj Vol. 27 (1973), PP. Enterprise," p. 451. 181-234. From a different 8 1 Ibid. perspective, see Leo Johnson, 82 A Shortt, "The History of "The Contradiction Between Canadian Currency Banking and I ndependent Commo di ty Exchange," Journal of the Production and Capitalist Canadian Banker ' s Production in Upper Canada, Association_, Vol. 8 (1901), p. 182 0-1850," unpublished paper p. 232. presented at the Annual 83 Goodman, "Ethics and Meeting, C.H.A., London, June Enterprise," p. 448. 1 978. 84 Cook, "John Beverly Robinson," 93 Chris Palmer, "Entrepreneurial pp. 431-42. Behaviour and the Development 8 5 Ibid, j p. 34 2 . of Atlantic Canada: Some 86 Goodman, "Ethics and Comments from a Different Perspective," in Fischer and Sager, The Enterprising Canadians s pp. 279-310. 9 4 This perspective might also help explain the widespread practice of land speculation in Upper Canada. Ownership of land was a social distinction quite in accord with the values underlying the Constitution of 1791. The rationale, of course, would be stronger in the early period. See Bruce Stave, "A Conversation with Gilbert A. Stelter: Urban History in Canada," Journal of Urban Historyj, Vol. 6 (1980), p. 182. For an indication of the extent of land speculation in Upper Canada see David Gagan, "Property and Interest: Some Preliminary Evidence of Land Speculation by the Family Compact in Upper Canada,

1820-1840," Ontario History3 Vol. 70 (1978), pp. 63-69.