Canada Company

Canada Company

Canada Company, land settlement company chartered in England in 1826. It was initiated by the Scottish novelist John Galt, who proposed that Upper Canada (Ontario) sell government lands in order to raise money to compensate settlers who had suffered losses from the War of 1812. Galt became (1827) the company's representative in Canada. The Canada Company acquired lands along the Lake Huron side of the S Ontario peninsula and founded Guelph and Goderich. In general the company was one of the most successful colonizing schemes, meeting its charter requirements by 1843. It remained in operation until the 1950s.

Organization instrumental in colonizing much of the western part of Upper Canada (now Ontario). The company was formed in 1824 to bring settlers to the region. It was directed until 1829 by John Galt (1779–1839), founder of Guelph and father of Alexander Galt. Though the company, chartered with 2.5 million acres, was criticized as a monopoly, it continued to exist until the 1950s.

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The Canada Company was a large private chartered British land development company, incorporated by an act of British parliament on July 27, 1825, to aid the colonization of Upper Canada. 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. The government of Upper Canada sold the company 10,000 km² of land for 341 000 pounds. Slightly less than half of the land that was purchased comprised what would become the Huron Tract, located on the eastern shore of Lake Huron, the remainder, located in other areas of Upper Canada, became Clergy reserves under the control of the Clergy Corporation. Galt selected Guelph, Ontario as the company's headquarters. The company surveyed and subdivided this massive area, built roads, mills, and schools and advertised it 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.

The company's mismanagement and corruption, and its close alliance with the Tory elites, known as the Family Compact was an important contributing factor to the Upper Canada Rebellion in 1837.

The company was dissolved on December 18, 1953.

Bibliography

H. B. Timothy, 1984.The Galts, a Canadian odyssey,Toronto: McClelland and Stewart. ISBN 0-7710-8457-9

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