George Wilbur Spinney
Encyclopedia
George Wilbur Spinney was president of Bank of Montreal
from December 1942 until his death in February 1948. He was also chairman of the National War Finance Committee
from its inception in 1941 until 1943, when he became honorary chairman.
Spinney was born in Yarmouth, Nova Scotia
on April 3, 1889. He joined Bank of Montreal after high school, and served in a number of capacities before being appointed as secretary to the General Manager, Sir Frederick Williams-Taylor
, in 1915. In 1922, Spinney was appointed assistant to the General Manager, responsible for organizing Bank of Montreal's securities department, and in 1928 he assumed responsibility for the Quebec, Maritimes and Newfoundland branches of the bank. In 1936, Spinney was appointed joint general manager of the bank with Jackson Dodds
.
In 1940, following the accidental death of Minister of Defense Norman Rogers
, Prime Minister Mackenzie King asked Spinney to be his new Minister of Finance (Finance Minister D.L Ralston assumed Rogers' Defense portfolio). Spinney respectfully declined - he was a businessman, not a politician - but offered his services in "...any other direction in which [they] could be utilized." Mackenzie King did not wait long to call on Spinney - in April 1941 the newly appointed Minister of Finance, J.L. Ilsley, asked Spinney to chair the first "Victory Loan" campaign, a new co-operative effort to raise $600 million, slated for launch in May and June 1941. The campaign was oversubscribed, but the effort was so costly and time-consuming, and on-going war funding needs so great, that a permanent fund raising entity was clearly required. Hence the establishment (formally in January 1942) of the National War Finance Committee, chaired by Spinney. After four Victory Loan campaigns that raised more than $4 billion, Spinney resigned in April 1943 and his position was assumed by Graham Towers
.
Spinney also served as president and as a governor of the Royal Victoria Hospital, and as a governor of McGill University
. He served on the boards of a number of major Canadian corporations including Consolidated Mining and Smelting Company of Canada (subsequently Cominco), International Nickel Company of Canada, Steel Company of Canada, and Sun Life Assurance Company of Canada. In 1942 he received an honorary Doctor of Civil Law from Acadia University
, and in June 1943 he was created a Companion of the Order of St Michael and St George.
Spinney was married to Martha Maud Ramsay of Saint Lambert, Quebec in 1916, and had three children, Wilbur (b. 1918), Ruth (b. 1920) and Martha (b. 1928). Spinney and his family resided at 1 Braeside Place (now part of The Study
) from 1937 until Spinney's death in 1948. During World War II Wilbur "Bill" Spinney served as a gunnery officer in the Royal Canadian Navy
, but he died of injuries while on active service in England days after V-E Day.
Bank of Montreal
The Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it...
from December 1942 until his death in February 1948. He was also chairman of the National War Finance Committee
National War Finance Committee
The National War Finance Committee was set up in Canada in December 1941 by the Department of Finance. It was initially chaired by George Wilbur Spinney, president of the Bank of Montreal, and later by Graham Towers, the Governor of the Bank of Canada. The Committee was responsible for raising war...
from its inception in 1941 until 1943, when he became honorary chairman.
Spinney was born in Yarmouth, Nova Scotia
Yarmouth, Nova Scotia
Yarmouth is a town and fishing port located on the Gulf of Maine in rural southwestern Nova Scotia, Canada. It is the shire town of Yarmouth County. The town is located in the heart of the world's largest lobster fishing grounds and has Canada's highest lobster catch.- History :The townsite may...
on April 3, 1889. He joined Bank of Montreal after high school, and served in a number of capacities before being appointed as secretary to the General Manager, Sir Frederick Williams-Taylor
Frederick Williams-Taylor
Sir Frederick Williams-Taylor was a Canadian banker. He was general manager of the Bank of Montreal.Born in Moncton, New Brunswick, the son of Ezekiel Moore Taylor and Rosalind Beatty, Williams-Taylor joined the Bank of Montreal in 1878...
, in 1915. In 1922, Spinney was appointed assistant to the General Manager, responsible for organizing Bank of Montreal's securities department, and in 1928 he assumed responsibility for the Quebec, Maritimes and Newfoundland branches of the bank. In 1936, Spinney was appointed joint general manager of the bank with Jackson Dodds
Jackson Dodds
Jackson Dodds, CBE was an early Scouts Canada scouting notable, rising to Deputy Chief Scout for Canada....
.
In 1940, following the accidental death of Minister of Defense Norman Rogers
Norman McLeod Rogers
Norman McLeod Rogers, PC was a Canadian lawyer and statesman. He served as the member of parliament for Kingston, Ontario, Canada and as a cabinet minister in the government of Prime Minister William Lyon Mackenzie King. He was also an early biographer of King.Rogers was born in Amherst, Nova...
, Prime Minister Mackenzie King asked Spinney to be his new Minister of Finance (Finance Minister D.L Ralston assumed Rogers' Defense portfolio). Spinney respectfully declined - he was a businessman, not a politician - but offered his services in "...any other direction in which [they] could be utilized." Mackenzie King did not wait long to call on Spinney - in April 1941 the newly appointed Minister of Finance, J.L. Ilsley, asked Spinney to chair the first "Victory Loan" campaign, a new co-operative effort to raise $600 million, slated for launch in May and June 1941. The campaign was oversubscribed, but the effort was so costly and time-consuming, and on-going war funding needs so great, that a permanent fund raising entity was clearly required. Hence the establishment (formally in January 1942) of the National War Finance Committee, chaired by Spinney. After four Victory Loan campaigns that raised more than $4 billion, Spinney resigned in April 1943 and his position was assumed by Graham Towers
Graham Towers
Graham Ford Towers, CC was the first Governor of the Bank of Canada from 1934 to 1954.Born in Montreal, Quebec, educated at St. Andrew's College in Toronto, he graduated from McGill University in 1919. During World War II, he was Chairman of the Foreign Exchange Control Board and Chairman of the...
.
Spinney also served as president and as a governor of the Royal Victoria Hospital, and as a governor of McGill University
McGill University
Mohammed Fathy is a public research university located in Montreal, Quebec, Canada. The university bears the name of James McGill, a prominent Montreal merchant from Glasgow, Scotland, whose bequest formed the beginning of the university...
. He served on the boards of a number of major Canadian corporations including Consolidated Mining and Smelting Company of Canada (subsequently Cominco), International Nickel Company of Canada, Steel Company of Canada, and Sun Life Assurance Company of Canada. In 1942 he received an honorary Doctor of Civil Law from Acadia University
Acadia University
Acadia University is a predominantly undergraduate university located in Wolfville, Nova Scotia, Canada with some graduate programs at the master's level and one at the doctoral level...
, and in June 1943 he was created a Companion of the Order of St Michael and St George.
Spinney was married to Martha Maud Ramsay of Saint Lambert, Quebec in 1916, and had three children, Wilbur (b. 1918), Ruth (b. 1920) and Martha (b. 1928). Spinney and his family resided at 1 Braeside Place (now part of The Study
The Study
The Study is a Canadian private education all-girls school in Westmount, Quebec. Girls can attend from Kindergarten through to grade 11. The school was founded in 1915, by a young Englishwoman named Margaret Gascoigne. Today, The Study offers a bilingual education to 360 students from Kindergarten...
) from 1937 until Spinney's death in 1948. During World War II Wilbur "Bill" Spinney served as a gunnery officer in the Royal Canadian Navy
Royal Canadian Navy
The history of the Royal Canadian Navy goes back to 1910, when the naval force was created as the Naval Service of Canada and renamed a year later by King George V. The Royal Canadian Navy is one of the three environmental commands of the Canadian Forces...
, but he died of injuries while on active service in England days after V-E Day.