[2] Alton was originally settled in the 1816 by Martin Middaugh Jr, a United Empire Loyalist who received a 200 acre land grant from the Crown, likely for military service.

In the ensuing years a hamlet emerged thanks to a prosperous milling operation on Shaw Creek a tributary of the Credit River.

John Meek, son of Robert Meek who owned the popular general store in the village suggested the name Alton, as he held in hand a newspaper from Alton, Illinois and it was chosen as name of the village.

There were also several mills built throughout the village, and for a considerable period of time, it was the main form of economic activity from Alton, likewise to Bolton.

[5] New houses are currently being built west of Main Street (Peel Regional Road 136), as part of the Ospey Mills Community.