Almost as grave as the political condition of the country was the financial situation. The rebellions of '37 coincided with a wide-spread financial crisis in the United States, which had its inevitable reaction upon all business in Canada, and matters had gone from bad to worse. By the summer of 1839 Upper Canada—the present rich and prosperous Ontario—was on the verge of bankruptcy. The reason lay in the ambition of this province. The first roads into any new country are the rivers. Therefore the population of Canada first followed and settled along the ancient waterway of the St Lawrence and the Great Lakes. But this wonderful highway was blocked here and there by natural obstacles to navigation, long series of rapids and the giant escarpment of Niagara. To overcome these obstacles the costly Cornwall and Welland canals had been projected and bui. . . Read More