The Bank Act of 1871 was one of the major reasons for the concentration of the Canadian population into a few urban centres such as Toronto and Montreal.

Question

Quizplus · Accepted Answer

The Bank Act of 1871 encouraged the establishment of large, centralized banks and restricted the ability of small banks to operate. This led to the concentration of financial power in a few urban centres, which in turn drew people seeking employment and economic opportunities to these same areas.

The Bank Act of 1871 Was One of the Major