Capitalism is an economic and social system relying on private means of production. Turning a profit is essential and importance is given to people who have capital, that is, money. Capitalism encourages individual initiative and competition between companies.
After 1850, money invested in the industrial sector in Canada came from British businessmen, who owned the factories and grew their wealth from the products they made. Some had great fortunes, like John Redpath, who owned Redpath Sugar in Montreal, and Élie Amyot, who owned the Dominion Corset Manufacturing Company in Quebec City.
Many buildings in the business sector date back to the early 20th century, including the Sun Life Building (insurance), the Montreal Curb Market (stock exchange) as well as the Dominion Corset Manufacturing Company (leather and fabrics).
Capitalism created two new social and economic classes: the middle class (British businessmen) and the working class (made up primarily of French Canadians). The upper middle class lived in neighbourhoods located on the outskirts of the industrial areas, while the working class lived near the factories, in neighbourhoods like Saint-Henri (Montreal) and Saint-Roch (Quebec City).