Founded in 1817, the Bank of Montreal rapidly became the instrument and the symbol of the city's financial dominance. Closely bound up with the fortunes of the important merchants of Montreal, the bank played a leading role in speculation and the circulation of currency in the colonies. It had no serious competition before 1850 and was very active in the New York money markets; its influence there was augmented by the fact that Americans banks were so numerous and so small. In 1857 for example, the Bank of Montreal was more powerful than any other North American bank. The bank's new premises on the Place d'Armes were built in 1848. This photograph, which was taken a few years after that, illustrates the tremendous scale and presence of the building. Having been rather cramped in a former location, the bank made provision for more spacious and, above all, more prestigious surroundings for its operations: the new bank's colonnade echoed the facade of Notre-Dame church on the other side of the square.
Courtesy: Notman Photographic Archives, McCord Museum, Montreal
