Volume 2 - ElectricCanadian.com

74 HISTORY OF THE BANKmoney. The American Civil War exaggerated these conditionsby transferring to Canada their supply of these coins,together with State-bank notes, and the new currency createdby the war, in exchange for horses, cattle and other supplies.I do not remember how soon my uncle entrusted me with thiscounter business, but my apprenticeship was measured bymonths, and as I remember things, in the years in which I waswith him he almost never attended to the public. Thus I sawevery issue of currency, even the original "greenbacks" whichwere payable in gold, and every issue of bonds made by theUnited States in carrying on the war. The American buyingarmy supplies, the Canadian in the Union army home onleave, and, almost daily, the bounty-jumper, were my customers,and I kept at the door of the office a complete bulletinof the events of the war"In our early days the president or vice-president wasrequired to count the cash at each branch once a year. ThisMr. McMaster was scarcely able to do, but he did me thehonour of requiring me to accompany him to each branch inorder that I might count the cash and prepare the statementfor him, which he would then sign."During the first seven years of the bank's existence, twoother banks which have since attained great prominencewere founded, and may even be said to have grown out ofit. At the annual meeting in 1870, Mr. James Austin, whowas elected a director in May, 1869, on the withdrawal ofMr. John Macdonald, M.P.P., from the Board, retired fromthe directorate and helped to found the Dominion Bank, ofwhich he became the first president. In 1873 the ImperialBank of Canada obtained a charter, and completed its organizationin 1875 by combining with the Niagara District Bank.The first president of this young institution was Mr. HenryS. Rowland, the original vice-president of The Canadian Bankof Commerce, who retired from the Board at the annual meetingin July, 1874. He was succeeded as vice-president by. the