Banque d'Hochelaga
Banque d'Hochelaga was a Canadian bank based in Montreal, Quebec.
In 1874, several Montreal French-Canadian businessmen founded Banque d'Hochelaga, including François-Xavier Saint-Charles, Louis-Amable Jetté, Frédéric-Liguori Béique and Louis Tourville.
Like the other Canadian chartered banks, it issued its own paper money. The Bank of Canada was established through the Bank of Canada Act of 1934 and the banks relinquished their right to issue their own currency.
After modest beginnings, the bank expanded substantially around 1900. At the end of World War I, Banque Nationale (based in Quebec City), Provincial Bank of Canada (Banque Provinciale) and Banque d'Hochelaga all competed to serve the French-speaking Quebec market.
A merger of these three institutions was suggested.
After a serious recession hurt the Banque Nationale at the beginning of the 1920s, it agreed to merge with Banque d'Hochelaga to form Banque Canadienne Nationale, with assistance provided by the Quebec provincial government. The Provincial Bank chose not to participate in the merger.
In 1924, Banque Nationale and Banque d'Hochelaga merged, taking the name Banque Canadienne Nationale. The headquarters of the merged bank was in Montreal.
Presidents of Banque d'Hochelaga
- 1874-1878: Louis Tourville
- 1878-1900: François-Xavier Saint-Charles
- 1900-1912: Jean-Damien Rolland
- 1912-1925: Janvier-A.Vaillancourt
See also
References
- Mémoire du Québec
- Banque d'Hochelaga, photograph of building
- Banque d'Hochelaga in 1915
- Sawyer, Deborah C. "National Bank of Canada". The Canadian Encyclopedia. Retrieved December 27, 2011.
- Heritage Signature Auction. Central States Numismatic Society Convention. April 27-28, 2006. Columbus, Ohio. p. 225. Retrieved December 27, 2011. Photograph of a proof of a Banque d'Hochelaga banknote.
- Stelter, Gilbert A.; Alan F. J. Artibise (1982). Shaping the urban landscape: aspects of the Canadian city-building process. Ottawa: Carleton University Press Inc. p. 79. ISBN 0-88629-002-3. Retrieved December 27, 2011.
For instance, the Banque d'Hochelaga established a branch in Sherbrooke because, unlike its anglophone counterparts, it recognized that "the importance of this city in terms of industry and commerce becomes more pronounced each day."