Search for "Fathers of Confederation"

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Canadian Pacific Railway

The Canadian Pacific Railway company (CPR) was incorporated in 1881. Its original purpose was the construction of a transcontinental railway, a promise to British Columbia upon its entry into Confederation (see Railway History). The railway — completed in 1885 — connected Eastern Canada to British Columbia and played an important role in the development of the nation. Built in dangerous conditions by thousands of labourers, including 15,000 Chinese temporary workers, the railway facilitated communication and transportation across the country. Over its long history, the Canadian Pacific Railway diversified its operations. The company established hotels, shipping lines and airlines, and developed mining and telecommunications industries (see Shipping Industry; Air Transport Industry). In 2001, Canadian Pacific separated into five separate and independent companies, with Canadian Pacific Railway returning to its origins as a railway company. CP, as it is branded today, has over 22,500 km of track across Canada and the United States. It is a public company and it trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbol CP. In 2020, CP reported $7.71 billion in total revenues.

This is the full-length entry about the Canadian Pacific Railway. For a plain-language summary, please see The Canadian Pacific Railway (Plain-Language Summary).

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Bank of Canada

The Bank of Canada (BoC) is the country’s central bank, a financial institution that provides banking services on behalf of the federal government. Its operations include four principal functions: to manage the country’s money supply; to act as the federal government’s agent in issuing its bonds and managing its holdings of foreign currencies; to manage various monetary policies that can influence the performance of the economy, such as interest rates; and to manage the overall financial industry in Canada and economic relations with other countries and international organizations. The Bank of Canada’s headquarters are in Ottawa.

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Crown Corporation

Crown corporations are wholly owned federal or provincial organizations that are structured like private or independent companies. They include enterprises such as the Canadian Broadcasting Corporation (CBC), VIA Rail, Canada Post and the Bank of Canada; as well as various provincial electric utilities. Crown corporations have greater freedom from direct political control than government departments. As long as crown corporations have existed, there has been debate about their structure, accountability and role in the economy.