Thomas Brown Anderson (June 1796 – May 28, 1873) was a
Canadian
Canadians (french: Canadiens) are people identified with the country of Canada. This connection may be residential, legal, historical or cultural. For most Canadians, many (or all) of these connections exist and are collectively the source of ...
merchant, banker, and philanthropist who was director, vice-president (1847–1860) and 6th
president of the Bank of Montreal (1860–1869),
Member of the Special Council of Lower Canada (April–June 1838) and
Vice-president of the Montreal Board of Trade (1849).
Early life
Anderson was born in
Edinburgh
Edinburgh ( ; gd, Dùn Èideann ) is the capital city of Scotland and one of its 32 council areas. Historically part of the county of Midlothian (interchangeably Edinburghshire before 1921), it is located in Lothian on the southern shore of t ...
,
Scotland
Scotland (, ) is a Countries of the United Kingdom, country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, mainland Scotland has a Anglo-Scottish border, border with England to the southeast ...
, in June 1796. Little is recorded of Anderson's early life but it is understood that he arrived in
Montreal
Montreal ( ; officially Montréal, ) is the second-most populous city in Canada and most populous city in the Canadian province of Quebec. Founded in 1642 as '' Ville-Marie'', or "City of Mary", it is named after Mount Royal, the triple ...
,
Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
during 1827. On his arrival in Montreal, his first job was as a clerk for a commercial firm (''
Forsyth Forsyth may refer to:
Places Oceania
* Forsyth Island, Queensland, Australia, one of the West Wellesley Islands (aka Forsyth Islands)
* Forsyth Island, Tasmania, Australia
* Forsyth Island (New Zealand), in the outer Marlborough Sounds of South I ...
,
Richardson
Richardson may refer to:
People
* Richardson (surname), an English and Scottish surname
* Richardson Gang, a London crime gang in the 1960s
* Richardson Dilworth, Mayor of Philadelphia (1956-1962)
Places Australia
* Richardson, Australian Cap ...
and Company of Montreal'') engaged in a co-partnership with ''
Forsyth Forsyth may refer to:
Places Oceania
* Forsyth Island, Queensland, Australia, one of the West Wellesley Islands (aka Forsyth Islands)
* Forsyth Island, Tasmania, Australia
* Forsyth Island (New Zealand), in the outer Marlborough Sounds of South I ...
,
Walker
Walker or The Walker may refer to:
People
* Walker (given name)
*Walker (surname)
* Walker (Brazilian footballer) (born 1982), Brazilian footballer
Places
In the United States
*Walker, Arizona, in Yavapai County
*Walker, Mono County, California ...
and Company of Quebec''.
The firm's main business concerns were in fur trading, clothing, wholesaling provisions, local real estate, being an acting agent for the
East India Company's Canadian agent, and serving as the financial repository for the
Receiver General
A receiver general (or receiver-general) is an officer responsible for accepting payments on behalf of a government, and for making payments to a government on behalf of other parties.
See also
* Treasurer
* Receiver General for Canada
* Recei ...
's Department of Lower Canada.
Companies (1827–1861)
Forsyth, Richardson and Company (1827–1847)
Anderson's marriage to Ann Richardson, the daughter of
John Richardson (the senior partner at ''Forsyth, Richardson and Company'') undoubtedly helped in any nepotistic opportunities for him with the firm; and Anderson ended up becoming the company's last president.
In 1847, ''Forsyth, Richardson and Company'' faced a calamity from which it would not recover: the firm suffered a massive capital pull-out from its shareholders. As president, Anderson led the company through the eventual dissolution of its co-partnership with ''Forsyth, Walker and Company''.
Anderson, Auldjo and Company (1847–1852)
With the old Company dissolved, the Montreal business was reorganized and renamed as ''Anderson, Auldjo and Company.'' Anderson was the senior partner and the others—Louis Auldjo, William Evans, and Thomas Forsyth—were clerks from the old firm.
Anderson, Evans and Company (1852–1858)
When Louis Auldjo departed the company to start his own in 1852, the result was another reorganization and renaming of the firm as ''Anderson, Evans and Company'', hardware merchants and importers.
Anderson, Evans and Evans (1858–1861)
The addition of new partners, Samuel Evans and Thomas Evans, entailed another reorganization and renaming of the company in 1858 as ''Anderson, Evans and Evans.'' This partnership was finally dissolved in 1861 when Anderson decided to focus on banking.
Bank of Montreal (1830–1869)
Director (1830–1869)
Anderson served as a director of the
Bank of Montreal (1830–34)—a position procured by being the son-in-law of one of the bank's more important founders and shareholders. He re-engaged himself as a director of the bank in 1835 and served until his retirement in 1869. During an exchange crisis in Canada in 1837, Anderson was an active member of the director's committee in deciding the bank's policies.
In 1840, Anderson supported the expansion of the bank's operations into
Upper Canada
The Province of Upper Canada (french: link=no, province du Haut-Canada) was a part of British Canada established in 1791 by the Kingdom of Great Britain, to govern the central third of the lands in British North America, formerly part of th ...
, a move that was captained by the bank's then president,
Peter McGill
Peter McGill (August 1789 – September 28, 1860) was a Scots-Quebecer businessman who served as the second mayor of Montreal, Canada East from 1840 to 1842.
Biography
He was born Peter McCutcheon in the village of Creebridge, Wigtownshi ...
. In 1841, Anderson represented the bank before Canada's Legislative Assembly's Committee on Money and Banking. Anderson presented arguments for new legislation that would allow and support for more branch banking to be accessible in Canada.
Vice President (1847–1860)
On
Joseph Masson's retirement as vice president of the bank, on June 8, 1847, Anderson was elected as his successor. On June 5, 1860, Anderson was unanimously elected to succeed
Peter McGill
Peter McGill (August 1789 – September 28, 1860) was a Scots-Quebecer businessman who served as the second mayor of Montreal, Canada East from 1840 to 1842.
Biography
He was born Peter McCutcheon in the village of Creebridge, Wigtownshi ...
as the sixth president of the Bank of Montreal.
President (1860–1869)
Despite being viewed as "one of the old race of Canadian Merchants", Anderson—during his presidency—ensured, through his reorganization, that the bank adapted to the evolving economic and political environments: economically, Canada was moving from a mercantile to a more sophisticated and corporate system.
Anderson was a member of the board of directors representing Canada for the ''Liverpool, London Fire and Life Insurance Company'' (1855–73) and served as chairman (1855–72) and this experience led him to open opportunities up for the Bank of Montreal: he allowed branch the bank's managers to offer insurance products and other corporate interests.
In 1862, Anderson created the position of "general manager" and chose the Scottish banker, David Davidson (1862–63), who was succeeded by the Irish banker
Edwin Henry King
Edwin Henry King (December 1828 – April 14, 1896) was a Canadian banker.
Born in Ireland, King emigrated to Canada in 1850. He joined the Bank of Montreal in 1857, became general manager at age 35. He held the manager position from 1863 t ...
(1863). King proved a shrewd, competent, and skillful general manager and would later succeed Anderson as the bank's 7th president.
During the
American Civil War
The American Civil War (April 12, 1861 – May 26, 1865; also known by other names) was a civil war in the United States. It was fought between the Union ("the North") and the Confederacy ("the South"), the latter formed by states ...
, the bank was able to profit greatly from the situation: King's knowledge of the American money market combined with the union's constant need for more financial credit and the bank's ready access to English gold, meant that the bank was able to exploit the war to its advantage.
In November 1863, the bank acquired the account for the
Government of Canada
The government of Canada (french: gouvernement du Canada) is the body responsible for the federal administration of Canada. A constitutional monarchy, the Crown is the corporation sole, assuming distinct roles: the executive, as the ''Crown ...
from its failing rival, ''The Bank of Upper Canada,'' which was in severe decline, and the bank began to use the influence that came with managing the government's financial account.
In 1866, the bank used their influence to promote legislation which enabled banks to take government debentures and species and convert them into provincial notes (a law that was especially advantageous to banks who dealt with government accounts) and the legislation was enacted.
In 1867, King persuaded the first prime minister of Canada,
John Alexander MacDonald
Sir John Alexander Macdonald (January 10 or 11, 1815 – June 6, 1891) was the first prime minister of Canada, serving from 1867 to 1873 and from 1878 to 1891. The dominant figure of Canadian Confederation, he had a political career that sp ...
, not to assist the Bank of Montreal's failing rival ''Commercial Bank of the Midland District'' (contrary to the advice from his own minister of finance,
Alexander Tilloch Galt
Sir Alexander Tilloch Galt, (September 6, 1817 – September 19, 1893) was a politician and a father of the Canadian Confederation.
Early life
Galt was born in Chelsea, England on September 6, 1817. He was the son of John Galt, a Scottis ...
). This led to the failure of the bank which was one of Canada's most powerful institutions.
Though Anderson's annual reports were cautious, the bank thrived during the 1860s: deposits tripled in 9 years, which was mainly due to the flight of assets and capital to Canada during the American Civil War. Gold, silver, and coin holdings had also increased with the addition of government debentures making the institution more stable than ever before. Anderson retired as president in 1869 due to his deteriorating health, and the bank's board of directors awarded him a stipend of $2000 for his service.
Special Council for Lower Canada (1838)
Although he was a prominent merchant and a devoted "
Tory
A Tory () is a person who holds a political philosophy known as Toryism, based on a British version of traditionalism and conservatism, which upholds the supremacy of social order as it has evolved in the English culture throughout history. The ...
", Anderson was mostly inactive in local and provincial politics in Canada.
However, on April 2, 1838, Anderson was appointed as a
Member of the Special Council of Lower Canada by the then Governor General of
British North America
British North America comprised the colonial territories of the British Empire in North America from 1783 onwards. English colonisation of North America began in the 16th century in Newfoundland, then further south at Roanoke and Jamestow ...
(also Lieutenant-Governor of
Lower Canada
The Province of Lower Canada (french: province du Bas-Canada) was a British colony on the lower Saint Lawrence River and the shores of the Gulf of Saint Lawrence (1791–1841). It covered the southern portion of the current Province of Quebec an ...
),
Archibald Acheson, 2nd Earl of Gosford
Archibald Acheson, 2nd Earl of Gosford, (1 August 1776 – 27 March 1849), styled The Honourable Archibald Acheson from 1790 to 1806 and Lord Acheson from 1806 to 1807, was a British politician who served as Lieutenant-Governor of Lower Canada a ...
and
Sir John Colbourn. Anderson would only hold this position until June 1, 1838, when he and several others were removed during a reorganization by the new governor,
John Lambton, Earl of Durham.
In 1849, Anderson had joined the Montreal Annexation Association, became one of the eight vice-presidents of the association and eventually was one of the signers of the ''
Annexation Manifesto The Montreal Annexation Manifesto was a political document dated September 14, 1849, and signed in Montreal, Canada East, calling for the Province of Canada's annexation by the United States.
The manifesto was published in two versions (October 11 ...
'' in 1849.
Other Activities
Along with his political aspirations and vocations, Anderson also supported and was involved with a number of charitable, civic, and other organizations.
Montreal Board of Trade (1829–1850)
In 1829, Anderson joined the executive committee of the newly organized ''Montreal Committee of Trade'' (later the
Montreal Board of Trade
Montreal ( ; officially Montréal, ) is the second-most populous city in Canada and most populous city in the Canadian province of Quebec. Founded in 1642 as '' Ville-Marie'', or "City of Mary", it is named after Mount Royal, the triple-pe ...
) and was later elected vice-president (1849) also serving on the board's executive council and Board of Arbitration (1842–50).
McGill University (1845–1873)
Anderson was also a member of the board of governors for
McGill University
McGill University (french: link=no, Université McGill) is an English-language public research university located in Montreal, Quebec
Montreal ( ; officially Montréal, ) is the second-most populous city in Canada and most populous ...
from May 2, 1845, until his death. During this time, he donated generously to facilities and served on multiple committees concerning the university's affairs. He served as vice-chairman of the board of governors (1851–52) and then as the first member of the university's finance committee.
Montreal General Hospital
Anderson was treasurer of the
Montreal General Hospital
The Montreal General Hospital (MGH) (french: Hôpital Général de Montréal) is a hospital in Montreal, Quebec, Canada established in the years 1818-1820. The hospital received its charter in 1823. It is currently part of the McGill University ...
, an institution to which his father-in-law, John Richardson, had contributed greatly. Anderson also supported the
Longueuil
Longueuil () is a city in the province of Quebec, Canada. It is the seat of the Montérégie administrative region and the central city of the urban agglomeration of Longueuil. It sits on the south shore of the Saint Lawrence River directly ac ...
Mission. His wife, Ann Anderson, was an active supporter of multiple organizations including the Lying-in Hospital Society and the Ladies Benevolent Society (which her mother had reorganized in 1832).
Religious interests
Although Anderson was of strict Anglican faith, he had a reserved pew at St Gabriel Street Presbyterian Church, Montreal. This reserved pew was more of a social inclination rather than a spiritual one: most Scottish merchants in Montreal attended this church, so it is easy to discern that Anderson's regular attendance was a status issue. Anderson also attended his proper Anglican obligations, he attended
Christ Church, Montreal, and was later a member of the congregation of
St James the Apostle, Montreal.
In 1856, Anderson joined a committee to formulate plans to construct the new Christ Church Cathedral and served as fiduciary secretary for the Parochial Endowment Fund (invested some of its money in the Bank of Montreal shares).
Anderson died on May 28, 1873, and was buried in the Anglican parish of
St James the Apostle, Montreal on May 31, 1873.
Family
At
Christ Church, Montreal, on 12 December 1827, Anderson married Ann Richardson (1797–1880) the widow of
David Ogden (1772–1823) and daughter of
John Richardson (c.1754–1831) and his wife Sarah Ann Grant (1773–1847), the grandniece of
William Grant (1744–1805). Thomas and Ann Anderson had one daughter, Elizabeth Magdalene Anderson, who later married
Lt-Col. Joseph Bell Forsyth (the son of
James Bell Forsyth, and grand nephew of
John Forsyth).
References
Bibliography
*
*
{{DEFAULTSORT:Anderson, Thomas Brown
1796 births
1873 deaths
Bank of Montreal
Canadian Anglicans
Bank of Montreal presidents
Pre-Confederation Canadian businesspeople
McGill University people