1880-1885: Connecting Canada by rail
The Montreal Bank was the Canadian Pacific Railway’s major source of Canadian financing.
The Montreal Bank provided key financing for the building of the long-awaited Lachine Canal project, demonstrating the importance of public and private partnership in bringing about large projects of its kind.
The canal as originally built was 8.5 miles long, 28 feet wide at the bottom and 48 feet at the surface. It had seven locks of cut stone, each 100 feet long, 20 feet wide, and with a 5-foot depth of water. The Lachine Canal was opened in August 1824 and received its first vessels in 1825.
Canals provided important transportation routes, particularly for merchants moving their goods to market. Roads were a somewhat less appealing option.
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