Toronto is the provincial capital of Ontario and the most populous city in Canada, with a population of 2,731,571 in 2016. Current to 2016, the Toronto census metropolitan area, of which the majority is within the Greater Toronto Area, held a population of 5,928,040, making it Canada's most populous CMA. Toronto is the anchor of an urban agglomeration, known as the Golden Horseshoe in Southern Ontario, located on the northwestern shore of Lake Ontario. A global city, Toronto is a centre of business, finance and culture, is recognized as one of the most multicultural and cosmopolitan cities in the world. People have travelled through and inhabited the Toronto area, situated on a broad sloping plateau interspersed with rivers, deep ravines, urban forest, for more than 10,000 years. After the broadly disputed Toronto Purchase, when the Mississauga surrendered the area to the British Crown, the British established the town of York in 1793 and designated it as the capital of Upper Canada. During the War of 1812, the town was the site of the Battle of York and suffered heavy damage by United States troops.
York was incorporated in 1834 as the city of Toronto. It was designated as the capital of the province of Ontario in 1867 during Canadian Confederation; the city proper has since expanded past its original borders through both annexation and amalgamation to its current area of 630.2 km2. The diverse population of Toronto reflects its current and historical role as an important destination for immigrants to Canada. More than 50 percent of residents belong to a visible minority population group, over 200 distinct ethnic origins are represented among its inhabitants. While the majority of Torontonians speak English as their primary language, over 160 languages are spoken in the city. Toronto is a prominent centre for music, motion picture production, television production, is home to the headquarters of Canada's major national broadcast networks and media outlets, its varied cultural institutions, which include numerous museums and galleries and public events, entertainment districts, national historic sites, sports activities, attract over 25 million tourists each year.
Toronto is known for its many skyscrapers and high-rise buildings, in particular the tallest free-standing structure in the Western Hemisphere, the CN Tower. The city is home to the Toronto Stock Exchange, the headquarters of Canada's five largest banks, the headquarters of many large Canadian and multinational corporations, its economy is diversified with strengths in technology, financial services, life sciences, arts, business services, environmental innovation, food services, tourism. When Europeans first arrived at the site of present-day Toronto, the vicinity was inhabited by the Iroquois, who had displaced the Wyandot people, occupants of the region for centuries before c. 1500. The name Toronto is derived from the Iroquoian word tkaronto, meaning "place where trees stand in the water"; this refers to the northern end of what is now Lake Simcoe, where the Huron had planted tree saplings to corral fish. However, the word "Toronto", meaning "plenty" appears in a 1632 French lexicon of the Huron language, an Iroquoian language.
It appears on French maps referring to various locations, including Georgian Bay, Lake Simcoe, several rivers. A portage route from Lake Ontario to Lake Huron running through this point, known as the Toronto Carrying-Place Trail, led to widespread use of the name. In the 1660s, the Iroquois established two villages within what is today Toronto, Ganatsekwyagon on the banks of the Rouge River and Teiaiagon on the banks of the Humber River. By 1701, the Mississauga had displaced the Iroquois, who abandoned the Toronto area at the end of the Beaver Wars, with most returning to their base in present-day New York. French traders abandoned it in 1759 during the Seven Years' War; the British defeated the French and their indigenous allies in the war, the area became part of the British colony of Quebec in 1763. During the American Revolutionary War, an influx of British settlers came here as United Empire Loyalists fled for the British-controlled lands north of Lake Ontario; the Crown granted them land to compensate for their losses in the Thirteen Colonies.
The new province of Upper Canada was being needed a capital. In 1787, the British Lord Dorchester arranged for the Toronto Purchase with the Mississauga of the New Credit First Nation, thereby securing more than a quarter of a million acres of land in the Toronto area. Dorchester intended the location to be named Toronto. In 1793, Governor John Graves Simcoe established the town of York on the Toronto Purchase lands, naming it after Prince Frederick, Duke of York and Albany. Simcoe decided to move the Upper Canada capital from Newark to York, believing that the new site would be less vulnerable to attack by the United States; the York garrison was constructed at the entrance of the town's natural harbour, sheltered by a long sand-bar peninsula. The town's settlement formed at the eastern end of the harbour behind the peninsula, near the present-day intersection of Parliament Street and Front Street. In 1813, as part of the War of 1812, the Battle of York ended in the town's capture and plunder by United States forces.
The surrender of the town was negotiated by John Strachan. American soldiers destroyed much of the garrison and set fire to the parliament buildings during their five-day occupation; because of the sacking of York, British troops retaliated in the war with the Burning of Wa
Downtown Toronto is the city centre and main central business district of Toronto, Canada. Located within the district of Old Toronto, it is 14 square kilometers in area, bounded by Bloor Street to the north, Lake Ontario to the south, the Don Valley to the east, Bathurst Street to the west, it is the governmental centre of the City of Toronto and the Province of Ontario. The area is made up of the Canada’s largest concentration of skyscrapers and businesses that form Toronto's skyline. Downtown Toronto has the third most skyscrapers in North America exceeding 200 metres in height, behind New York City and Chicago; the retail core of the downtown is located along Yonge Street from Queen Street to College Street. There is a large cluster of retail centres and shops in the area, including the Toronto Eaton Centre indoor mall. There are an estimated 600 retail stores, 150 bars and restaurants, 7 hotels. In recent years the area has been experiencing a renaissance as the Business Improvement Area has brought in new retail and improved the cleanliness.
The area has seen the opening of the Dundas Square public square, a public space for holding performances and art displays. The area includes several live theatres, a movie complex at Dundas Square and the historic Massey Hall. Historical sites and landmarks include the Arts & Letter Club, the Church of the Holy Trinity, Mackenzie House, Maple Leaf Gardens, Old City Hall, the Toronto Police Museum and Discovery Centre; the Financial District, centred on the intersection of Bay Street and King Street is the centre of Canada's financial industry. It contains the Toronto Stock Exchange, the largest in Canada and seventh in the world by market capitalization; the construction of skyscrapers in downtown Toronto had started to increase during the 1960s. The area of St. Lawrence to the east of the financial district is one of the oldest area of Toronto, it features heritage buildings, music and many pubs. It is a community of distinct downtown neighbourhoods including the site of the original Town of York, Toronto's first neighbourhood, dating back to 1793.
The area boasts one of the largest concentrations of 19th century buildings in Ontario. Of particular note are the St. Lawrence Hall, St. James' Cathedral, St. Michael's Cathedral, St. Paul's Basilica, the Enoch Turner School House, the Bank of Upper Canada, Le Royal Meridien King Edward Hotel, the Gooderham Building. On Saturday there is a farmers market. Other historical districts in downtown Toronto include Cabbagetown, the Distillery District, Old Town. To the west of the financial district is the Entertainment District, it is home to hundreds of restaurants, sporting facilities, hotels and live theatre. The district was an industrial area and was redeveloped for entertainment purposes in the early 1980s, becoming a major centre for entertainment; the redevelopment started with the Mirvish family refurbishing of the Royal Alexandra Theatre and their construction of the Princess of Wales Theatre. The area is now the site of the Canadian Broadcasting Centre; the Yorkville area, to the north, north of Bloor Street and the Mink Mile, has more than 700 designer boutiques, restaurants and world class galleries.
It is a former village in its own right and since the early 1970s has developed into an up-scale shopping district. The intersection of Bloor and Yonge Streets is the intersection of the city's subway lines and is one of the busiest intersections in the city. At the intersection of Avenue Road and Bloor Street is the Royal Ontario Museum, the largest museum of the city, with a diverse anthropological and natural history collection; the Harbourfront area to the south was an industrial and railway lands area. Since the 1970s, it has seen extensive redevelopment, including the building of the Rogers Centre stadium, numerous condominiums and the Harbourfront Centre waterfront revitalization; the area to the east of Yonge Street is still in transition, with conversion of industrial lands to mixed residential and commercial uses planned. Among the important government headquarters in downtown Toronto include the Ontario Legislature, the Toronto City Hall. In the 1970s, Toronto experienced major economic growth and surpassed Montreal to become the largest city in Canada.
Many international and domestic businesses relocated to Toronto and created massive new skyscrapers downtown. All of the Big Five banks constructed skyscrapers beginning in the late 1960s up until the early 1990s. Today downtown Toronto contains dozens of notable skyscrapers; the area's First Canadian Place is the tallest building in Canada at height of 298 metres. The CN Tower, once the tallest free-standing structure in the world, remains the tallest such structure in the Americas, standing at 553.33 metres. Other notable buildings include Scotia Plaza, TD Centre, Commerce Court, the Royal Bank Plaza, The Bay's flagship store, the Fairmont Royal York Hotel. Since 2007, urban consolidation has been centred in downtown Toronto and as a result has been undergoing Manhattanization with the construction of new office towers and condos. Downtown Toronto is home to three public universities, OCAD University, Ryerson University, the University of Toronto. OCAD University is Canada's oldest post secondary institution for art and design.
Ryerson University is a research university. The University of Toronto is a collegiate research university, whose St. George campus is situated downtown. Established in 1827, the University of Toronto is the oldest university in the province of Ontario. In ad
Ontario is one of the 13 provinces and territories of Canada and is located in east-central Canada. It is Canada's most populous province accounting for 38.3 percent of the country's population, is the second-largest province in total area. Ontario is fourth-largest jurisdiction in total area when the territories of the Northwest Territories and Nunavut are included, it is home to the nation's capital city and the nation's most populous city, Ontario's provincial capital. Ontario is bordered by the province of Manitoba to the west, Hudson Bay and James Bay to the north, Quebec to the east and northeast, to the south by the U. S. states of Minnesota, Ohio and New York. All of Ontario's 2,700 km border with the United States follows inland waterways: from the west at Lake of the Woods, eastward along the major rivers and lakes of the Great Lakes/Saint Lawrence River drainage system; these are the Rainy River, the Pigeon River, Lake Superior, the St. Marys River, Lake Huron, the St. Clair River, Lake St. Clair, the Detroit River, Lake Erie, the Niagara River, Lake Ontario and along the St. Lawrence River from Kingston, Ontario, to the Quebec boundary just east of Cornwall, Ontario.
There is only about 1 km of land border made up of portages including Height of Land Portage on the Minnesota border. Ontario is sometimes conceptually divided into Northern Ontario and Southern Ontario; the great majority of Ontario's population and arable land is in the south. In contrast, the larger, northern part of Ontario is sparsely populated with cold winters and heavy forestation; the province is named after Lake Ontario, a term thought to be derived from Ontarí:io, a Huron word meaning "great lake", or skanadario, which means "beautiful water" in the Iroquoian languages. Ontario has about 250,000 freshwater lakes; the province consists of three main geographical regions: The thinly populated Canadian Shield in the northwestern and central portions, which comprises over half the land area of Ontario. Although this area does not support agriculture, it is rich in minerals and in part covered by the Central and Midwestern Canadian Shield forests, studded with lakes and rivers. Northern Ontario is subdivided into two sub-regions: Northeastern Ontario.
The unpopulated Hudson Bay Lowlands in the extreme north and northeast swampy and sparsely forested. Southern Ontario, further sub-divided into four regions. Despite the absence of any mountainous terrain in the province, there are large areas of uplands within the Canadian Shield which traverses the province from northwest to southeast and above the Niagara Escarpment which crosses the south; the highest point is Ishpatina Ridge at 693 metres above sea level in Temagami, Northeastern Ontario. In the south, elevations of over 500 m are surpassed near Collingwood, above the Blue Mountains in the Dundalk Highlands and in hilltops near the Madawaska River in Renfrew County; the Carolinian forest zone covers most of the southwestern region of the province. The temperate and fertile Great Lakes-Saint Lawrence Valley in the south is part of the Eastern Great Lakes lowland forests ecoregion where the forest has now been replaced by agriculture and urban development. A well-known geographic feature is part of the Niagara Escarpment.
The Saint Lawrence Seaway allows navigation to and from the Atlantic Ocean as far inland as Thunder Bay in Northwestern Ontario. Northern Ontario occupies 87 percent of the surface area of the province. Point Pelee is a peninsula of Lake Erie in southwestern Ontario, the southernmost extent of Canada's mainland. Pelee Island and Middle Island in Lake Erie extend farther. All are south of 42°N – farther south than the northern border of California; the climate of Ontario varies by location. It is affected by three air sources: cold, arctic air from the north; the effects of these major air masses on temperature and precipitation depend on latitude, proximity to major bodies of water and to a small extent, terrain relief. In general, most of Ontario's climate is classified as humid continental. Ontario has three main climatic regions; the surrounding Great Lakes influence the climatic region of southern Ontario. During the fall and winter months, heat stored from the lakes is released, moderating the climate near the shores of the lakes.
This gives some parts of southern Ontario milder winters than mid-continental areas at lower latitudes. Parts of Southwestern Ontario have a moderate humid continental climate, similar to that of the inland Mid-Atlantic states and the Great Lakes portion of the Midwestern United States; the region has warm to cold winters. Annual precipitation is well distributed throughout the year. Most of this region lies in the lee of the Great Lakes. In December 2010, the snowbelt set a new record when it was h
Canada is a country in the northern part of North America. Its ten provinces and three territories extend from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98 million square kilometres, making it the world's second-largest country by total area. Canada's southern border with the United States is the world's longest bi-national land border, its capital is Ottawa, its three largest metropolitan areas are Toronto and Vancouver. As a whole, Canada is sparsely populated, the majority of its land area being dominated by forest and tundra, its population is urbanized, with over 80 percent of its inhabitants concentrated in large and medium-sized cities, many near the southern border. Canada's climate varies across its vast area, ranging from arctic weather in the north, to hot summers in the southern regions, with four distinct seasons. Various indigenous peoples have inhabited what is now Canada for thousands of years prior to European colonization. Beginning in the 16th century and French expeditions explored, settled, along the Atlantic coast.
As a consequence of various armed conflicts, France ceded nearly all of its colonies in North America in 1763. In 1867, with the union of three British North American colonies through Confederation, Canada was formed as a federal dominion of four provinces; this began an accretion of provinces and territories and a process of increasing autonomy from the United Kingdom. This widening autonomy was highlighted by the Statute of Westminster of 1931 and culminated in the Canada Act of 1982, which severed the vestiges of legal dependence on the British parliament. Canada is a parliamentary democracy and a constitutional monarchy in the Westminster tradition, with Elizabeth II as its queen and a prime minister who serves as the chair of the federal cabinet and head of government; the country is a realm within the Commonwealth of Nations, a member of the Francophonie and bilingual at the federal level. It ranks among the highest in international measurements of government transparency, civil liberties, quality of life, economic freedom, education.
It is one of the world's most ethnically diverse and multicultural nations, the product of large-scale immigration from many other countries. Canada's long and complex relationship with the United States has had a significant impact on its economy and culture. A developed country, Canada has the sixteenth-highest nominal per capita income globally as well as the twelfth-highest ranking in the Human Development Index, its advanced economy is the tenth-largest in the world, relying chiefly upon its abundant natural resources and well-developed international trade networks. Canada is part of several major international and intergovernmental institutions or groupings including the United Nations, the North Atlantic Treaty Organization, the G7, the Group of Ten, the G20, the North American Free Trade Agreement and the Asia-Pacific Economic Cooperation forum. While a variety of theories have been postulated for the etymological origins of Canada, the name is now accepted as coming from the St. Lawrence Iroquoian word kanata, meaning "village" or "settlement".
In 1535, indigenous inhabitants of the present-day Quebec City region used the word to direct French explorer Jacques Cartier to the village of Stadacona. Cartier used the word Canada to refer not only to that particular village but to the entire area subject to Donnacona. From the 16th to the early 18th century "Canada" referred to the part of New France that lay along the Saint Lawrence River. In 1791, the area became two British colonies called Upper Canada and Lower Canada collectively named the Canadas. Upon Confederation in 1867, Canada was adopted as the legal name for the new country at the London Conference, the word Dominion was conferred as the country's title. By the 1950s, the term Dominion of Canada was no longer used by the United Kingdom, which considered Canada a "Realm of the Commonwealth"; the government of Louis St. Laurent ended the practice of using'Dominion' in the Statutes of Canada in 1951. In 1982, the passage of the Canada Act, bringing the Constitution of Canada under Canadian control, referred only to Canada, that year the name of the national holiday was changed from Dominion Day to Canada Day.
The term Dominion was used to distinguish the federal government from the provinces, though after the Second World War the term federal had replaced dominion. Indigenous peoples in present-day Canada include the First Nations, Métis, the last being a mixed-blood people who originated in the mid-17th century when First Nations and Inuit people married European settlers; the term "Aboriginal" as a collective noun is a specific term of art used in some legal documents, including the Constitution Act 1982. The first inhabitants of North America are hypothesized to have migrated from Siberia by way of the Bering land bridge and arrived at least 14,000 years ago; the Paleo-Indian archeological sites at Old Crow Flats and Bluefish Caves are two of the oldest sites of human habitation in Canada. The characteristics of Canadian indigenous societies included permanent settlements, complex societal hierarchies, trading networks; some of these cultures had collapsed by the time European explorers arrived in the late 15th and early 16th centuries and have only been discovered through archeological investigations.
The indigenous population at the time of the first European settlements is estimated to have been between 200,000
Bank of Canada
The Bank of Canada is a Crown corporation and Canada's central bank. Chartered in 1934 under the Bank of Canada Act, it is responsible for formulating Canada's monetary policy, for the promotion of a safe, sound financial system within Canada; the Bank of Canada is the sole issuing authority of Canadian banknotes, provides banking services and money management for the government, loans money to Canadian financial institutions. The Bank of Canada headquarters are located at the Bank of Canada Building, 234 Wellington Street in the nation's capital, Ottawa; the building used to house the Bank of Canada Museum, which opened in December, 1980 and temporarily closed in 2013. As of July 2017, the museum is now located at 30 Bank Street, Ontario, but is connected to the main buildings through the Bank of Canada's underground meeting rooms. Prior to the creation of the Bank of Canada, The Bank of Montreal the nation's largest bank, acted as the government's banker, the federal Department of Finance was responsible for printing Canada's banknotes.
In 1933, Prime Minister R. B. Bennett instituted the Royal Commission on Banking and Currency and it reported its policy recommendations in favour of the establishment of a central bank for Canada; the Royal Commission's members consisted of Scottish jurist Lord Macmillan, Bank of England director Sir Charles Addis, Canadian former Finance Minister William Thomas White, Banque Canadienne de Montreal general manager Beaudry Leman, Premier of Alberta John Edward Brownlee. The bank was chartered by and under the Bank of Canada Act on July 3, 1934, as a owned corporation, a move taken in order to ensure the bank would be free from partisan political influence; the Bank's purpose was set out in the preamble to the act: "to regulate credit and currency in the best interests of the economic life of the nation, to control and protect the external value of the national monetary unit and to mitigate by its influence fluctuations in the general level of production, trade and employment, so far as may be possible within the scope of monetary action, to promote the economic and financial welfare of the Dominion".
With the exception of the word "Canada" replacing "the Dominion", the wording today is identical to the 1934 legislation. On March 11, 1935, the Bank of Canada began operations, following the granting of Royal Assent to the Bank of Canada Act. In 1938, under Prime Minister William Lyon Mackenzie King, the bank was designated a federal Crown corporation; the Minister of Finance holds the entire share capital issued by the bank. "The capital shall be divided into one hundred thousand shares of the par value of fifty dollars each, which shall be issued to the Minister to be held by the Minister on behalf of Her Majesty in right of Canada." No changes were made in the purpose of the Bank. The government appointed a Board of Directors to manage the bank, under the leadership of a Governor; each director swore an oath of "secrecy" before taking office. In 1944, the Bank of Canada became the sole issuer of legal tender banknotes in and under Canada. During World War II, the Bank of Canada operated the Foreign Exchange Control Board and the War Finance Committee, which raised funds through Victory Bonds.
After the war, the bank's role was expanded as it was mandated to encourage economic growth in Canada. An Act of Parliament in September 1944 established the subsidiary Business Development Bank of Canada to stimulate investment in Canadian businesses. Prime Minister John Diefenbaker's central-bank monetary policy was directed towards increasing the money supply to generate low interest rates, incentivize full employment; when inflation began to rise in the early 1960s, then-Governor James Coyne ordered a reduction in the Canadian money supply. Since the 1980s, the main priority of the Bank of Canada has been keeping inflation low; as part of that strategy, interest rates were kept at a low level for seven years in the 1990s. Since September 2010, the key interest rate was 0.5%. Between 2013 and early 2017, the Bank of Canada temporarily moved its offices to 234 Laurier Street in Ottawa to allow major renovations to its headquarters building. In mid 2017, inflation remained below the Bank's 2% target because of reductions in the cost of energy and automobiles.
On 12 July 2017, the bank issued a statement that the benchmark rate would be increased to 0.75%. "The economy can handle well this move we have today and of course you need to preface that with an acknowledgment that of course interest rates are still low," Governor Stephen Poloz subsequently said. In its press release, the bank had confirmed that the rate would continue to be evaluated at least on the basis of inflation. "Future adjustments to the target for the overnight rate will be guided by incoming data as they inform the bank's inflation outlook, keeping in mind continued uncertainty and financial system vulnerabilities." Poloz refused to speculate on the future of the economy but said, "I don't doubt that interest rates will move higher, but there's no predetermined path in mind at this stage". The mandate of the Bank of Canada is defined in the Bank of Canada Act preamble and it states, WHEREAS it is desirable to establish a central bank in Canada to regulate credit and currency in the best interests of the economic life of the nation, to control and protect the external value of the national monetary unit and to mitigate by its influence fluctuations in the general level of production, trade and employment, so far as may be possible within the scope of monetary action, to prom
E. P. Taylor
Edward Plunket Taylor was a Canadian business tycoon and philanthropist. He was a famous breeder of thoroughbred race horses. Known to his friends as "Eddie", he is universally recorded as "E. P. Taylor". Born in Ottawa, Ontario into a wealthy family, Taylor attended Ashbury College and graduated from Montreal's McGill University in 1922 with a Bachelor of Science degree. After graduation, he worked for the investment brokerage firm McLeod Weir. Starting with a brewery business inherited from his grandfather, Taylor merged more than 20 other small breweries to create Canadian Breweries Limited, which grew to be the world's largest brewing company. During World War II, he was a volunteer executive in the Canadian government's war effort, he was appointed by C. D. Howe to the executive committee of the Department of Munitions and Supply and would be appointed by Winston Churchill to run the British Supply Council in North America, he came close to losing his life when, in December 1940, the ship he was on was torpedoed while crossing the Atlantic.
He and others on the sinking ship were rescued by a captain. Through his war-time service, Taylor became connected to top businessmen from across Canada and around the world. At war's end, he founded Argus Corporation, becoming the investment company's majority shareholder by rolling Canadian Breweries stock into the new entity. Over the years, he gained control or had significant positions in many of his country's largest companies such as Canadian Food Products, Massey-Harris, Orange Crush Ltd. Standard Chemical, Dominion Stores, British Columbia Forest Products Limited, Dominion Tar & Chemical Co. Standard Broadcasting, Hollinger Mines Limited. During the highest point of his career, he was one of Canada's richest businessmen. Taylor pioneered the concept of gated communities in exotic places, he founded the exclusive Lyford Cay gated community in 1959 and its'Lyford Cay Club' on New Providence island in the Bahamas. The Lyford Cay Club is home to some of the world's wealthiest people. In 1948, Taylor and a small group of fellow alumni established the McGill University Alma Mater Fund, inviting all graduates to give annual donations and thereby "make of themselves a living endowment."
While a student at Montreal's McGill University in 1918, Taylor was introduced to the sport of thoroughbred horse racing at Blue Bonnets Raceway. As a businessman in the 1930s he established Cosgrave Stable to race horses which notably owned and raced the future Canadian Horse Racing Hall of Fame filly, Mona Bell. In the 1950s, Taylor and his wife, Winnifred Thornton Duguid, began breeding Thoroughbreds, their involvement led to the acquisition of Parkwood Stable near Toronto and Windfields Farm at Oshawa. The Taylor thoroughbred horse breeding operation produced Northern Dancer, the greatest sire of the 20th century. In 1970, he was the world's leading horse breeder measured by money won, he was president of the Ontario Jockey Club from 1953 to 1973 where he consolidated numerous money-losing tracks throughout the province into fewer, but viable businesses. He was voted thoroughbred racing's man of the year in 1973 and the following year was elected to Canada's Sports Hall of Fame. In 1977 and 1983 he was named the winner of the Eclipse Award for Outstanding Breeder as the leading thoroughbred breeder in North America.
Taylor's horses were named Canadian Horse of the Year nine times. He was a founder of the Jockey Club of Canada. Windfields Estate was Taylor's main residence and was situated at 2489 Bayview Avenue in North York, Toronto, it is now the site of the Canadian Film Centre. The 25-acre estate has been preserved as a heritage site; the Canadian Royal Family stayed at Windfields when they visited Toronto. The last royals to stay there were Queen Elizabeth, the Queen Mother, in the summers of 1974 and 1981, Prince Charles and Diana, Princess of Wales. There were two gardeners and a house manager who worked at the residence. In 1963, Taylor moved to the Bahamas, taking advantage of the warm climate and its inheritance tax laws, he lived in the gated community he had built called Lyford Cay. He died there in 1989 at the age of 88. A friend of U. S. President John F. Kennedy, in December 1962, the President stayed at Taylor's home in Lyford Cay while he held talks with British Prime Minister Harold Macmillan.
His son and author Charles P. B. Taylor, died in 1997 after a nine-year battle with cancer. Taylor's legacy lives on within the community with various contributions; the E. P. Taylor Research Library and Archives in the Art Gallery of Ontario, Ontario, was named after him in honour of his term as President of the Art Gallery of Toronto, from 1957 to 1959. In the North York region there is E. P. Taylor Place, a seniors residence. On York Mills Road are Windfields Restaurant, a popular family establishment, Windfields Place, a pair of apartment buildings, he has a pub named after him in Oshawa, Ontario on the campus of Durham College/University of Ontario Institute of Technology in the Student Centre, called E. P. Taylor's Restaurant. E. P. Taylor was inducted into the Ontario Sports Hall of Fame in 1996. Rohmer, Richard. E. P. Taylor: the biography of Edward Plunket Taylor McClelland & Stewart ISBN 0-7710-7709-2 Bowen, Edward L. Legacies of the Turf: A Century of Great Thoroughbred Breeders Eclipse Press ISBN 978-1-58150-102-5 April 2, 1962 Sports Illustrated story on Edward Plunket Taylor E. P. Taylor at the Canadian Horse Racing Hall of Fame