Collapse of the Commercial Bank


Queen's University is devastated by the collapse of the Commercial Bank, of which Sir John A. is a director and legal advisor. As noted on its website: “The collapse of this Ontario-based bank in the mid-19th century nearly precipitated the death of Queen's. The bank handled Queen's accounts in the institution's early years and when it collapsed in 1867, it took two-thirds of the university's endowment with it.” An intensive fundraising campaign saved Queen's, and 100 years later it named the law building after Macdonald.