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The fur-trading XY and North West companies amalgamated.
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The Pacific Fur Company, headed by New York fur dealer John Jacob Astor, was established to trade furs in the Northwest and on the Pacific Coast.
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The first permanent bank in British North America, the Bank of Montreal, was founded. It became a source of commercial loans and credit for the growing Canadian economy.
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The Bank of New Brunswick was incorporated and was the first in the colony.
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The agreement was reached to merge the North West Company and the Hudson's Bay Company as of June 1, effectively ending the fur trade out of Montréal and creating a near-monopoly of the fur trade in British North America.
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The Bank of Upper Canada was incorporated at York (Toronto).