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Jacob De Witt AI simulator
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Jacob De Witt AI simulator
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Jacob De Witt
Jacob De Witt (September 17, 1785 – March 23, 1859) was a businessman, banker and political figure in Lower Canada and Canada East, Province of Canada (now Quebec). Beginning in the hardware trade, he expanded into steamship transportation on the River St. Lawrence and then banking. He was elected to the Legislative Assembly of Lower Canada and generally supported the Parti patriote, but did not participate in the Lower Canada Rebellion of 1837. After the union of Lower Canada and Upper Canada into the Province of Canada, he was elected to the new Legislative Assembly. He initially supported the reform measures of Louis-Hippolyte LaFontaine, but gradually became more radical, ending his political career as member of the Parti rouge and calling for the voluntary annexation of Canada to the United States. He continued in business, particularly banking, until his death in 1859.
De Witt was born in Windham, Connecticut in 1785, son of Henry De Witt and Hannah Dean. His family was of Dutch background, descended from Tjerck Claessen De Witt, who emigrated to New Amsterdam around 1650, during the period of Dutch colonisation. It is not clear when his family moved to Lower Canada, but they were established in Montreal by 1802.
De Witt married Sophronia Frary of Montreal on January 12, 1816, in the Anglican church in Dunham township. The couple had at least four children.
De Witt's father was a hatter, and De Witt likely began his business career as an apprentice in his father's hat shop. By 1814, he was in a hardware business with a partner, and appears to have profited from the War of 1812. Three years later, the two ended the partnership and he opened his own hardware business. At some point, he took his nephew, Benjamin Brewster, into partnership in the hardware business.
While maintaining his hardware business, De Witt became interested in transportation upriver from Montreal. He likely saw the advantages for his business that improved river transport could bring. From 1816 to 1833, he acquired three steamships that transported goods on the Saint Lawrence River. He also bought land and owned a sawmill in Beauharnois County.
De Witt also became interested in banking. In 1822, he was a charter member of the Bank of Canada, a proposed commercial bank which never began business. In 1833, he and Thomas Storrow Brown petitioned for the establishment of the City Bank of Montreal. Two years later, in 1835, De Witt and another successful businessman, Louis-Michel Viger, entered into a partnership, known as Viger, De Witt et Cie, to form another bank, known as La Banque du Peuple. The initial capitalisation of the Banque was £75,000; De Witt was a significant investor. The Banque was designed to provide easier access to credit for the petit bourgeoisie, farmers and artisans of Lower Canada, breaking the Bank of Montreal's monopoly.
De Witt entered politics in the general elections of 1830, when he was elected to represent Beauharnois in the Legislative Assembly of Lower Canada. Of liberal and reform tendencies, he supported the Parti patriote led by Louis-Joseph Papineau and Denis-Benjamin Viger, and their challenges to the appointed Governor of Lower Canada. In the 1834 session, he voted in support of the Ninety-Two Resolutions, presented by Papineau. The Resolutions were directed to the British government and set out a detailed critique of the colonial constitution. They called for major changes, such as an elective Legislative Council. The Assembly passed the Resolutions by a large majority, 56 to 24. In the general elections in the fall of 1834, De Witt was re-elected in Beauharnois with a comfortable margin, part of a major victory by the Parti patriote across the province.
De Witt was a reformer, but he was not a revolutionary, and not inclined to take actions that would put at risk his businesses. He did not take part in the Lower Canada Rebellion of 1837. Nonetheless, in the heightened political atmosphere of the time, he became involved in the issues. There were suspicions that the Banque du Peuple was funnelling money for arms to the Patriote rebellion, particularly since Louis-Michel Viger's cousin, Denis-Benjamin Viger, was one of the Patriote leaders. Although Denis-Benjamin Viger was not one of the partners in the bank, he was himself wealthy and it was unclear if he had a connection to the bank. Eventually, De Witt and the other partners felt it necessary to publish a sworn deposition, denying that the Bank du Peuple had "lent or supplied funds for the purpose of purchasing arms, in order to destroy and subvert Her Majesty's Government in this Province". Louis-Michel Viger did not sign the deposition, as he had been imprisoned on charges of high treason. There was some suspicion that his imprisonment was an attempt by the government to break the Banque du Peuple.
Jacob De Witt
Jacob De Witt (September 17, 1785 – March 23, 1859) was a businessman, banker and political figure in Lower Canada and Canada East, Province of Canada (now Quebec). Beginning in the hardware trade, he expanded into steamship transportation on the River St. Lawrence and then banking. He was elected to the Legislative Assembly of Lower Canada and generally supported the Parti patriote, but did not participate in the Lower Canada Rebellion of 1837. After the union of Lower Canada and Upper Canada into the Province of Canada, he was elected to the new Legislative Assembly. He initially supported the reform measures of Louis-Hippolyte LaFontaine, but gradually became more radical, ending his political career as member of the Parti rouge and calling for the voluntary annexation of Canada to the United States. He continued in business, particularly banking, until his death in 1859.
De Witt was born in Windham, Connecticut in 1785, son of Henry De Witt and Hannah Dean. His family was of Dutch background, descended from Tjerck Claessen De Witt, who emigrated to New Amsterdam around 1650, during the period of Dutch colonisation. It is not clear when his family moved to Lower Canada, but they were established in Montreal by 1802.
De Witt married Sophronia Frary of Montreal on January 12, 1816, in the Anglican church in Dunham township. The couple had at least four children.
De Witt's father was a hatter, and De Witt likely began his business career as an apprentice in his father's hat shop. By 1814, he was in a hardware business with a partner, and appears to have profited from the War of 1812. Three years later, the two ended the partnership and he opened his own hardware business. At some point, he took his nephew, Benjamin Brewster, into partnership in the hardware business.
While maintaining his hardware business, De Witt became interested in transportation upriver from Montreal. He likely saw the advantages for his business that improved river transport could bring. From 1816 to 1833, he acquired three steamships that transported goods on the Saint Lawrence River. He also bought land and owned a sawmill in Beauharnois County.
De Witt also became interested in banking. In 1822, he was a charter member of the Bank of Canada, a proposed commercial bank which never began business. In 1833, he and Thomas Storrow Brown petitioned for the establishment of the City Bank of Montreal. Two years later, in 1835, De Witt and another successful businessman, Louis-Michel Viger, entered into a partnership, known as Viger, De Witt et Cie, to form another bank, known as La Banque du Peuple. The initial capitalisation of the Banque was £75,000; De Witt was a significant investor. The Banque was designed to provide easier access to credit for the petit bourgeoisie, farmers and artisans of Lower Canada, breaking the Bank of Montreal's monopoly.
De Witt entered politics in the general elections of 1830, when he was elected to represent Beauharnois in the Legislative Assembly of Lower Canada. Of liberal and reform tendencies, he supported the Parti patriote led by Louis-Joseph Papineau and Denis-Benjamin Viger, and their challenges to the appointed Governor of Lower Canada. In the 1834 session, he voted in support of the Ninety-Two Resolutions, presented by Papineau. The Resolutions were directed to the British government and set out a detailed critique of the colonial constitution. They called for major changes, such as an elective Legislative Council. The Assembly passed the Resolutions by a large majority, 56 to 24. In the general elections in the fall of 1834, De Witt was re-elected in Beauharnois with a comfortable margin, part of a major victory by the Parti patriote across the province.
De Witt was a reformer, but he was not a revolutionary, and not inclined to take actions that would put at risk his businesses. He did not take part in the Lower Canada Rebellion of 1837. Nonetheless, in the heightened political atmosphere of the time, he became involved in the issues. There were suspicions that the Banque du Peuple was funnelling money for arms to the Patriote rebellion, particularly since Louis-Michel Viger's cousin, Denis-Benjamin Viger, was one of the Patriote leaders. Although Denis-Benjamin Viger was not one of the partners in the bank, he was himself wealthy and it was unclear if he had a connection to the bank. Eventually, De Witt and the other partners felt it necessary to publish a sworn deposition, denying that the Bank du Peuple had "lent or supplied funds for the purpose of purchasing arms, in order to destroy and subvert Her Majesty's Government in this Province". Louis-Michel Viger did not sign the deposition, as he had been imprisoned on charges of high treason. There was some suspicion that his imprisonment was an attempt by the government to break the Banque du Peuple.