Question

What was Canada's first bank?

A. The bank of Montrea
l B. The Canadian imperial bank of Commerce
C. The Toronto-Dominion Bank
D. The Royal Bank of Canada

Answer 1

Canada's first bank was The Bank of Montreal, founded in 1817. It was established during a time of significant nation-building led by figures such as Sir John A. Macdonald, Canada's first Prime Minister.

Step-by-step explanation:

Canada's first bank was The Bank of Montreal, established in 1817. It predated other major Canadian banks and was instrumental in the country's economic development. The creation of the Bank of Montreal coincided with an era of significant growth and nation-building in Canada, as exemplified by figures like Sir John A. Macdonald, Canada's first Prime Minister. Under Macdonald's leadership, Canada saw the completion of significant projects like the Canadian Pacific Railroad, which was vital for connecting the eastern and western parts of the country and facilitating trade.