Early Canadian banking system

This article includes a list of references, related reading, or external links, but its sources remain unclear because it lacks inline citations. Please help improve this article by introducing more precise citations. (May 2013) (Learn how and when to remove this template message)

Part of a series on the
Economy of Canada
Economic history of Canada
Banking history Petroleum history Energy policy of Canada Canadian dollar
Sectors
Primary sector Agriculture Energy Petroleum Electricity Mining Fishing Forestry Secondary sector Automotives Tertiary sector Social programs Transport Tourism Finance Central Bank Banking in Canada Stock exchanges Companies Companies listed on the TSX
Economy by province
Alberta Ontario Quebec Saskatchewan more...
Economy by city
Montreal Toronto Vancouver more...
v t e

The early Canadian banking system (British North America and New France until 1763; then renamed Upper and Lower Canada) was regulated entirely by the colonial government. Primitive forms of banking emerged early in the colonial period to solve the drain of wealth caused by the application of mercantilist theory. The drain of wealth translated into a complete lack of gold or silver bullion in the colonies, and thus, a complete lack of forms of economic exchange and payment.