J.W. McConnell: Financier, Philanthropist, Patriot (review)

John Wilson McConnell (1877–1963) was one of Canada's wealthiest and most powerful businessmen. He has been, in William Fong's words, 'reviled as the symbol of English oppression of French Canada, an anti-Semite, an unbending big business Tory, an exploiter of the working class, and enemy of academic and press freedom' (xii). On the basis of extraordinarily extensive research, Fong seeks to chart McConnell's career on the man's own terms and in the context of his time.

McConnell's biography is a true rags-to-riches story. Born and raised in the backwoods of Muskoka, McConnell gained great wealth early in life and quickly developed close and friendly relations with the most powerful and influential business, political, and social leaders of his day. McConnell is described as a financier, philanthropist, and patriot, but it quickly becomes obvious that his success was attributable to his exceptional talents as a salesman of corporate securities and in philanthropic fundraising and wartime patriotic campaigns. He was obviously a smooth talker, generous donor, and gracious host who befriended every Canadian governor general of his day, numerous ambassadors, aristocrats, and wealthy investors. He could also hold Prime Minister Bennett in high esteem while establishing and maintaining cordial relations with Prime Minister Mackenzie King and both premiers Taschereau and Duplessis in Quebec.

The book follows a mixed chronological and thematic structure. The first and last chapters chronicle the early and final years of McConnell's life. Thematic chapters focus on McConnell's promotions of wood products, Montreal Tramways, sugar refineries, holding companies, the McConnells' three houses, their involvement in elite Montreal and imperial social and political circles and politics, his ownership of the Montreal Star, personal donations to and leadership in philanthropic campaigns, and his long association with McGill University.

There is a detailed and annotated appendix that lists McConnell's assets and liabilities given at their valuation at the time and also in 2008 dollars. His investments in 1921 were valued at $10,859,977.11 ($116,460,324.00 in 2008 dollars) and approximately $192,000,000.00 ($1,351,200,000.00 in 2008 dollars) at the time of his death in 1963. By Fong's calculations, the 1929 crash reduced McConnell's holdings by about a third.

A second appendix provides information about members of the then still relatively small community of really wealthy Montreal business associates and rivals. Specific reference is made to partnerships and rivalries between McConnell and Sir Herbert Holt who, at his prime, was described as Canada's wealthiest businessman. McConnell became a partner with Holt in hydro-electric and street railway developments but, with the help of American capitalists, destroyed Holt's efforts in the 1930s to dominate and stabilize the Canadian pulp and paper industry. And, alas, after death, McConnell's grave was dug higher up in the Mount Royal cemetery than that of Herbert Holt, who died in 1941.

This is a very substantial and in many ways exceptionally detailed biography. But the author informs the reader that it comprises only a quarter of the material he has compiled in a manuscript he intends to publish electronically. Google and Yahoo do not, however, provide further information regarding the availability of this larger manuscript.

Missing in the published version are detailed discussions or analyses of the broader aspects of the various industries in which McConnell-dominated corporations were active. The company with which McConnell had the longest association was St Lawrence Sugar and the St Lawrence Sugar Refineries Ltd holding company. Yet little coherent general information is provided about the management style, accounting practices, labour relations, changing refinery technologies, locations and capacities of refineries, sources of supplies, distribution and marketing, government regulation, protective tariff structures, and wartime price controls. Much the same can be said about the many other companies in which McConnell had substantial holdings. Apparently, in contrast to Holt and other rivals who devoted extraordinary attention to all such details, McConnell operated...