Canada Company

Canada company arms

The Canada Company was a large private chartered British land development company, incorporated by royal charter on August 19, 1826,[1] under an act of British parliament.[2] given royal assent on June 27, 1825,[3] to aid in the colonization of a large part of Upper Canada. Originally formed to acquire and develop Upper Canada's undeveloped clergy reserves and crown reserves[2] which, in 1827, the Company acquired for £341,000 ($693,000) from the Province of Upper Canada.[4]

Founded by John Galt who became its first Superintendent, the company was successful in populating the area called the Huron Tract an achievement later called "the most important single attempt at settlement in Canadian history".[5]

It is in unrelated to the modern Canadian charity of the same name founded in 2006, which assists former Canadian military members and their spouses regain civilian employment after service in the Canadian Armed Forces.[6]

The Canada Company assisted emigrants by providing good ships, low fares, implements and tools, and inexpensive land. Scottish novelist John Galt was the company's first Canadian superintendent. He first settled in York (Toronto, Ontario) but selected Guelph as the company's headquarters, and his home. The area was previously part of the Halton Block, 42,000 acres of former Crown land.[9] Galt would later be considered as the founder of Guelph.[10]

The company surveyed and subdivided the massive Huron Tract, built roads, mills, and schools and advertised lots for sale to buyers in Europe. The company then assisted in the migration of new settlers, bringing them to the area by means of a boat, which the company also owned, on Lake Ontario.

A plaque erected in Huron county, Pioneers of the Huron Tract 1828-1928, commemorates the work of the men who developed the Huron Tract and the families who lived there, starting in 1828.[11]

John Galt was dismissed and recalled to Great Britain in 1829, for mismanagement, particularly incompetent bookkeeping.[12] General mismanagement and corruption within the company, and its close alliance with the Tory elites, known as the Family Compact, were important contributing factors to the Upper Canada Rebellion in 1837.

This page was last edited on 14 May 2018, at 06:11 (UTC).
Reference: https://en.wikipedia.org/wiki/Canada_Company under CC BY-SA license.

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