Prince Edward Island Museum and Heritage Foundation

05_The_Islands_first_bank_p_8-13.pdf

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title The Island's First Bank
creator Baldwin, Douglas O.
subject Island Magazine
subject Prince Edward Island Museum
description Banking on Prince Edward Island, today controlled by huge conglomerates headquartered in Central Canada, was once served by five locally-owned and - operated institutions. These banks served Island communities well for the most part, and contributed to the province's economic expansion in the latter part of the 19th century. The Bank of Prince Edward Island was both the first institution established in the colony, and the first one to fail. An examination of its 26-year history reveals a great deal about the benefits and shortcomings of small, locally-owned banks. At mid-century the Island was enjoying an economic upswing. A need for circulating currency was felt, as was a need for a local bank, given the colony's distance from the Halifax banks.
publisher Prince Edward Island Museum
date 1983
type Document
format application/pdf
identifier vre:islemag-batch2-185
source 14
language en_US
rights Please note that this material is being presented for the sole purpose of research and private study. Any other use requires the permission of the copyright holder(s), and questions regarding copyright are the responsibility of the user.

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title The Island's First Bank
creator Baldwin, Douglas O.
subject Island Magazine
subject Prince Edward Island Museum
description Banking on Prince Edward Island, today controlled by huge conglomerates headquartered in Central Canada, was once served by five locally-owned and - operated institutions. These banks served Island communities well for the most part, and contributed to the province's economic expansion in the latter part of the 19th century. The Bank of Prince Edward Island was both the first institution established in the colony, and the first one to fail. An examination of its 26-year history reveals a great deal about the benefits and shortcomings of small, locally-owned banks. At mid-century the Island was enjoying an economic upswing. A need for circulating currency was felt, as was a need for a local bank, given the colony's distance from the Halifax banks.
publisher Prince Edward Island Museum
date 1983
type Document
format application/pdf
identifier vre:islemag-batch2-185
source 14
language en_US
rights Please note that this material is being presented for the sole purpose of research and private study. Any other use requires the permission of the copyright holder(s), and questions regarding copyright are the responsibility of the user.