William Allan

William Allan

William Allan, businessman, politician (b near Huntly, Scot 1770; d at Toronto 11 July 1853). Between 1795 and 1822 Allan established himself as a prosperous merchant in York (Toronto), as a government officeholder and as a land speculator. From 1822 to 1835 he was the first president of the BANK OF UPPER CANADA, an institution so successful that it was attacked both politically as the too-powerful tool of the FAMILY COMPACT and commercially for its banking monopoly in Upper Canada. Allan served on the board of the Welland Canal Co, was co-commissioner of the Canada Co 1829-41, and governor of the British America Fire and Life Assurance Co 1836-53. As well, Allan served on the Legislative Council 1824-41 and on the Executive Council 1836-41. His reputation was made in business, however, and rests on his contribution to Ontario banking.