Bay Street is a north-south street in downtown Toronto. It got its name in 1797 because it was built to connect Queen Street West to a bay in Toronto Harbour. This original road ran only as far north as Queen. In the 1920s, however, several other streets were consolidated and gaps filled in to create a new thoroughfare, so that Bay Street today stretches from Queens Quay (Toronto Harbour) in the south to Davenport Road in the north.
Bay Street is the centre of Toronto's financial district; and its name is often used by metonymy to refer to Canada's financial industry—just as "Wall Street" is used in the United States and "The City" in the United Kingdom. Four of Canada's five major banks have office towers at the intersection of Bay and King Street. Another prominent intersection is just north of Bay and Bloor Street; this is the centre of an upscale and expensive shopping district.
- Adapted from the Wikipedia article on Bay Street.