The company was formed to populate a part of what is now Southern Ontario (then known as Upper Canada) in the first half of the 19th century; it was later called "the most important single attempt at settlement in Canadian history".

[2] In 1829, Galt was recalled to Great Britain[3] for mismanagement of the Canada Company (particularly incompetent bookkeeping), and was later jailed for failing to pay his son's tuition.

[4] Galt's Autobiography, published in London in 1833, includes a discussion of his life and work in Upper Canada.

He grew up tall but rather delicate, and spent a lot of time listening to the "marvellous narrations" of some elderly women who lived in the close behind his grandmother's house.

After tutoring at home, he joined Irvine Grammar public school in 1787, becoming a lifetime friend of his schoolfellow Henry Eckford.

Around 1789, Galt's father owned and commanded a West Indiaman trading with Jamaica, and had a house built in Greenock.

Their education, well suited to commerce, covered penmanship,[6][7] arithmetic, French, geography, astronomy and mathematics, including navigation using a sextant on local hills in 1794.

[8][9] It was usual in Greenock for lads starting careers in commerce to first improve their penmanship by copying entries in the books of the custom house, so Galt and Park were "desked" there for a few months.

With his friends, he went long walks, wrote essays and stories, some of which were published in Constable's The Scots Magazine, and founded a Literary and Debating Society.

[12] Incensed by an abusive letter, he pursued its author to Leith and got a written apology, then on return told his father and the merchants' firm he intended to quit Greenock.

Galt made preparations and, accompanied by his father, took post chaise and mail coach to London in May 1804. Letters of introduction got him, at most, dinner invitations.

[3][14] During a subsequent trip to Europe, where he was commissioned by a merchant firm to establish trade agreements, Galt met and befriended Lord Byron in Gibraltar.

[3] In 1821 Annals of the parish was published as were two instalments of The steam boat and he started work on the novel Sir André Wylie.

[3] He was heavily criticised by his employers for his lack of basic accounting skills and failure to carry out their established policies.

[3] Soon after his return to Great Britain, he spent several months in King's Bench Prison for failure to pay debts.

The eldest, John Jr., would be appointed Collector of Customs and Registrar of Deeds at Goderich and become part of the Colborne Clique.

Records of Real Life in the Palace and the Cottage had an introduction by Galt, and this three-volume work was published in 1839.

The paving slab is engraved with the Scots language words "birr and smeddum" (vigour and liveliness[25]) quoting his 1821 book Annals of the Parish.

[29] A historical plaque commemorates Galt's role with the Canada Company in populating the Huron Tract, calling it "the most important single attempt at settlement in Canadian history".