Hamilton Economic History

In 1833, Hamilton was incorporated as a police village where a legislature was thereafter passed where it was able to establish a market.
When the town of Hamilton was first incorporated in 1833, its first order of business was to establish a place for its board to meet where they met at local taverns like Thomas Wilson Inn at Jackson Streets. Hugh Cossart Baker established the first life insurance company in Canada. It later became the first functioning railway that transformed Hamilton into a major center for the immigration route from Boston and Newyork to Chicago. In 1856, the town saw the first locomotives built.
In 1862, Hamilton town invested in the Great Western Railway and at the end of the Depression in 1862, the population in the town had dwindled since it was not able to meet the interests on its bonds held by British investors. In the 1870s era, the town started to have a financial edge and shifted to an economic strategy of attracting the industry.
It saw the birth of working-class in 1872 and unionists that created the Nine Hour Movement that was to fight for limited hours to nine daily by the government. The same era saw the Bank of Hamilton established which lasted until 1924. It merged with The Commerce that later became the Canadian Imperial Bank of Commerce.
In 1847, the town established the first department store. The town played a huge role in the telephone development. In 1877, Hugh Cossart Baker Jr established the first commercial telephone in Canada in the town of Hamilton. He also established the first telephone exchange in the British Empire. He made the town to be the first commercial site for long distance telephone line in the British Empire. This paved way for building a large company in the town that was named the Hamilton Telephone Company that led the way for creation of the Bell Telephone Company in Canada .