Joseph Masson

Joseph Masson
Born (1791-01-05)January 5, 1791
Saint-Eustache, Lower Canada
Died May 15, 1847(1847-05-15) (aged 56)
Terrebonne, Canada
Occupation Business
Known for First French Canadian millionaire

Joseph Masson (January 5, 1791 – May 15, 1847) was Canadian businessman, who is considered the first French Canadian millionaire.

Seigneur of Terrebonne, Quebec, president of Masson societies, president of the City Gas, he was also vice-president of the Banque de Montréal, president of the Saint-Jean-Baptiste Society of Montreal and member of the Legislative Council of Lower Canada.

He was the major Canadian businessman in the 1830 years, and he is member of the Canadian Business Hall of Fame.

Biography

Masson born in Saint-Eustache, Quebec, in 1791, was the only son (there were also three daughters) born to Antoine Masson, joiner who did not know signing,[1] and Suzanne née Pfeiffer or Payfer.

After scholarship at Saint-Eustache school, he went at 16 at Saint-Benoît of Mirabel[2] to learn the commercial business, as an apprentice of the merchant Duncan McGillis.

Import-export

Joseph Masson was engaged from May 1812 by the Scottish merchant Hugh Robertson, who found him very clever. The company had some difficulties, and a crack in 1814. But Masson gave the proof of his capacities, and became partner in 1815 with 12.5% of the incomes. He became responsible of the sales in Scotland, and then the chief of the Canadian company. His contract for partnership with the Robertsons was renewed in 1818 and in 1819, when William Robertson died, and arose to 50% of the profits.[2]

Joseph Masson was married in 1818 with Marie-Geneviève-Sophie Raymond, daughter of Jean-Baptiste Raymond (1757–1825), seigneur of Lake Matapedia and deputy of Huntingdon.

Masson devoted all his energy to develop his business, and admitted wanting to "beat" and "break down" his competitors.[2]

His import-export companies grew and diversified. In 1830, the group had three companies: the W. and H. Robertson and Company, in Glasgow, led by Hugh Robertson; the Robertson, Masson, LaRocque and Company in Montreal, led by Masson; Masson, LaRocque, Strang and Company in Quebec, created by Masson[3] and directed by John Strang. Masson and Robertson had more than 80% of their capital. Masson was while the Canadian businessman most involved in trade with the UK market.[2]

Transports and energy

To transport his products, he bought a new boat of 290 tons, he gave it the name of his wife, “Sophie”. Then he bought, in whole or in participation, two other boats and a steamboat.[2] Also in the transports activity, he asked the Legislative Assembly to build a canal; he created a shipping company and initiated the construction of a railway.

Joseph Masson involved in 1832 with the founding of the first railway in Canada: the railway Champlain and St. Lawrence Railroad.[2]

Masson also interested in urban societies of water supply and of Gas lighting, in Montreal, in Quebec and in Toronto. At the invitation of his associates, he took a first appearance in Montreal, and its participation in 1842 reached more than a third of the société du Gaz de Montréal.[2] He founded with John Strang in 1841 the Compagnie de l’eau et de l’éclairage au gaz of Quebec, and founded with Furniss the City of Toronto Light Gas and Water Company, which he is president.

The banks

The Bank of Montreal (Banque de Montréal) in 1845.

Vice chairman of Bank of Montreal

The Banque de Montréal (Bank of Montreal) was the Canada's central bank. Already a shareholder of the Bank of Canada,[4] Masson bought shares of Bank of Montreal in 1824. He joined the board of directors of Bank of Montreal in 1826. In 1830, Masson increased his shareholding, and reached his goal to increase his influence in the region. Joseph Masson was appointed in 1834 vice chairman of Bank of Montreal. He was also linked with the Bank of the City, Montreal, the Gore Bank and the Commercial Bank of Midland District.[2]

Systematic use of credit

Masson is one of the few businessmen in this time to make substantial profits using credit to develop his business. He managed to double his business volume systematically using credit; but he had trouble to convince his Scottish partner to do the same.[2]

Masson companies

Masson became the main manager of the companies of the group; he was also their major shareholder, and their name changed to get his name: Joseph Masson, Sons and Company (Montreal); Masson, Langevin, Sons and Company (Quebec); Masson, Sons and Company (Glasgow). The last was devoted to manage the purchasing.[5]

He was the major Canadian businessman in the 1830 years.[2]

Seigneur de Terrebonne

Joseph Masson acquired in 1832 the seigneurie de Terrebonne, depending on the seigneurial system of New France. It was almost for the prestige, but Masson worked to have soon a large pay-back. He developed the trade and industry, with forges and mills, with new processes. Then he had additional revenues up to $ 3,000 and more.[2]

Politician

Montreal and the Legislative Council of Lower Canada

Masson was Member of the Legislative Council of Lower Canada from 1834 to 1838.[6]

He was also member of the Montreal City Council from December 1842. He was offered to become the Mayor of Montreal in December 1842, but he declined.[7] He was militia captain from 1823, member of the Board of Trade of Montreal, first churchwarden of Notre-Dame parish and judge of the peace.[2]

Loyalist and patriot

Masson put his business amongst all, and he was generally loyalist. In 1837 he was encharged to receive the loyalty serments in Montreal.[8]

But he was a patriot when he hid in Louis-Joseph Papineau, whose head was a price in 1837, and in 1845 when he accepted to be elected the third president of the Association Saint-Jean-Baptiste.[9]

Death; Family

Joseph Masson died in 1847 at Terrebonne. He was considered the first French-Canadian millionaire.[10]

The Masson Manor, circa 1865

After his death, his wife, Marie-Geneviève-Sophie Masson [11] (daughter of Jean-Baptiste Raymond) and her eldest sons continued the business of Masson and the managing of the seigneurie .

She created the seigneurial bureau in 1850, constructed the Masson manor from 1848 to 1854, developed the industry and the mills, and founded the Collège Masson à Terrebonne.

They had twelve children. Amongst them:

Honours

Bibliography

Notes and references

  1. ↑ La société canadienne-française au XIXe siècle, 1975, p. 283.
  2. 1 2 3 4 5 6 7 8 9 10 11 12 “Masson, Joseph”, in Dictionary of Canadian Biography, volume VII, 1988.
  3. ↑ La société canadienne-française au XIXe siècle, 1975, p. 300
  4. ↑ La société canadienne-française au XIXe siècle, 1975, p. 297.
  5. ↑ La société canadienne-française au XIXè siècle, 1975, p. 300.
  6. ↑ Council dissolved on March 27, 1838.
  7. ↑ Rumilly, Histoire de Montréal, p. 278.
  8. ↑ La société canadienne-française au XIXe siècle, 1975, p. 284.
  9. ↑ Rumilly, Histoire de Montréal, p. 297
  10. ↑ Rumilly, Histoire de Montréal, p. 297.
  11. 1 2 This blog
  12. ↑ Official list in the website of the Canadian Business Hall of Fame.
  13. ↑ “Joseph Masson, seigneur de Terrebonne”, on the Collège Saint-Sacrement () website.

See also

External links

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