The histories of the Mississagi River Valley settlements are characteristic of those of many other Northern Ontario communities. All of them were settled in the late nineteenth century when farmland in southern Ontario was growing scarce, but before the campaign to settle the West began in earnest. The topography of the area being what it is, many of the farming settlements that were started by the pioneers fell short of their original promise.

The settlements of the Mississagi River provide a good example of what happened to many of the settlements in Northern Ontario. The communities of Goldenburg, Kynoch, Hooverville, and Wharncliffe were based on farming and the lumber industry. These industries weren't able to sustain Goldenburg, which today is populated only by summer cottagers, and the ghosts of its past.

The arrival of hydoelectric power generation in the Mississagi River Valley led to the demise of Hooverville and drew Wharncliffe away from its farming roots. Only Kynoch maintains both agriculture and logging. The main reason for this difference is the arrival of a major source of non-agricultural employment, Ontario Hydro.

All four communities were affected by the arrival of Hydro, Wharncliffe and Hooverville most of all. However, while it brought prosperity to Wharncliffe, it destroyed Hooverville.