The National War Finance Committee was set up in Canada

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

 in December 1941 by the Department of Finance. It was initially chaired by George Wilbur Spinney

George Wilbur Spinney

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....

, president of the Bank of Montreal

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...

, and later 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...

, the Governor of the Bank of Canada

Bank of Canada

The Bank of Canada is Canada's central bank and "lender of last resort". The Bank was created by an Act of Parliament on July 3, 1934 as a privately owned corporation. In 1938, the Bank became a Crown corporation belonging to the Government of Canada...

. The Committee was responsible for raising war financing through the sale of Victory Bonds. Prior to the Committee's establishment, war financing was the responsibility of the Department of Finance.