History of cities in Canada electric elevators, built in 1895. This was followed by the Traders Bank of Canada, (15 floors, Yonge Street, 1905), the Canadian Pacific Building, (16 floors, 1913), the Royal Bank, (20 floors, 1915), the Royal York Hotel, 1929, and the Canadian Imperial Bank of Commerce, in 1931. Canada's first escalator was installed in 1904 at Eaton's Department Store on Queen Street. The beginnings of the rise of Toronto as the cultural capital of Canada were seen in the establishment in 1827 of what would become the University of Toronto and the founding of "The Globe" (later "The Globe and Mail")in 1844.
Organic composition of capital theory of the rising organic composition of capital. It is difficult to find industries where the "secular" historical trend is one of an increase in the share of wages in the total capital outlay. Generally, the opposite is the case. However, it has been argued that the value of physical capital is notoriously difficult to measure empirically in an accurate way; and statistical time-series for economic variables over long periods are also susceptible to errors and distortions. The owners of a business may not even know exactly what the physical assets they use are currently worth, or what their business