1935 Series (banknotes)

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The $1 banknote of the 1935 Series features a portrait of George V. Bank of Canada one dollar note, 1935.jpg
The $1 banknote of the 1935 Series features a portrait of George V.

The 1935 Series was the first series of banknotes of the Canadian dollar issued by the Bank of Canada. They were first circulated on 11 March 1935, the same day that the Bank of Canada officially started operating. Two sets of banknotes were printed for each denomination, one in French for Quebec, and one in English for the rest of Canada. [1] [2] This is the only series issued by the Bank of Canada with dual unilingual banknotes. [3]

Banknotes of the Canadian dollar

Banknotes of the Canadian dollar are the banknotes or bills of Canada, denominated in Canadian dollars. Currently, they are issued in $5, $10, $20, $50, and $100 denominations. All current notes are issued by the Bank of Canada, which released its first series of notes in 1935. The current series of polymer banknotes were introduced into circulation between November 2011 and November 2013. Banknotes issued in Canada can be viewed at the Currency Museum of the Bank of Canada in Ottawa.

Bank of Canada Canadas central bank

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, and for the promotion of a safe and 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, and loans money to Canadian financial institutions.

Contents

The Bank of Canada issued a press release in February 1935 announcing details of the banknotes to "prevent possible confusion" amongst the public and as a protective measure against counterfeiting. [1] The Bank of Canada Act which had established the Bank of Canada also resulted in the repeal of the Finance Act and the Dominion Notes Act. [3] With the introduction of the 1935 Series into circulation, the Dominion of Canada banknotes were withdrawn from circulation by the Bank of Canada from 1935 to 1950, [3] [4] which also replaced the Department of Finance as the nation's exclusive issuer of banknotes. [5] [6]

A press release, news release, media release, press statement or video release is an official statement delivered to members of the news media for the purpose of providing information, an official statement, or making an announcement. A press release is traditionally composed of nine structural elements. Press releases can be delivered to members of the media both physically and electronically.

Counterfeit money money that was created illegally

Counterfeit money is imitation currency produced without the legal sanction of the state or government usually in a deliberate attempt to imitate that currency and so as to deceive its recipient. Producing or using counterfeit money is a form of fraud or forgery. The business of counterfeiting money is almost as old as money itself: plated copies have been found of Lydian coins which are thought to be among the first Western coins. Before the introduction of paper money, the most prevalent method of counterfeiting involved mixing base metals with pure gold or silver. Another form of counterfeiting is the production of documents by legitimate printers in response to fraudulent instructions. During World War II, the Nazis forged British pounds and American dollars. Today some of the finest counterfeit banknotes are called Superdollars because of their high quality and likeness to the real US dollar. There has been significant counterfeiting of Euro banknotes and coins since the launch of the currency in 2002, but considerably less than for the US dollar.

<i>Bank of Canada Act</i>

The Bank of Canada Act is a statute that sets out the governance structure and powers of the Bank of Canada, which was created in 1934 as Canada's central bank.

Banknotes

The Government of Canada intended to release the banknotes on the same day as the official opening of the Bank of Canada. [7] It required months of work and preparation for the design, approval, and production of the banknote series. [8] Designs for the banknotes were created by the Canadian Bank Note Company (CBN) and the British American Bank Note Company (BABN, now BA International), both of which had designed and printed the preceding Dominion of Canada banknotes. [7]

The Government of Canada, officially Her Majesty's Government, is the corporation responsible for the federal administration of Canada. In Canadian English, the term can mean either the collective set of institutions or specifically the Queen-in-Council. In both senses, the current construct was established at Confederation through the Constitution Act, 1867—as a federal constitutional monarchy, wherein the Canadian Crown acts as the core, or "the most basic building block", of its Westminster-style parliamentary democracy. The Crown is thus the foundation of the executive, legislative, and judicial branches of the Canadian government. Further elements of governance are outlined in the rest of the Canadian Constitution, which includes written statutes, court rulings, and unwritten conventions developed over centuries.

Canadian Bank Note Company company

The Canadian Bank Note Company (CBNC) is a Canadian security printing company. It is best known for holding the contract with the Bank of Canada to supply it with Canada's banknotes. The company's other clients include private businesses, national and sub-national governments, central banks, and postal services from around the world. In addition to bank notes, the company produces passports, driver's licences, birth certificates, postage stamps, coupons, and many other security-conscious document-related products. It also prints and provides document reading systems for identification cards, lottery tickets, stamps, and bank notes.

All but the commemorative $25 banknote began circulating on 11 March 1935, the same day that the Bank of Canada officially started operating. [1] [3] All banknotes contained the words "Ottawa, Issue of 1935" centrally at the top of the obverse, except for the $20 banknote, in which the words appeared below the serial number. [9] This is the only Bank of Canada series that includes $25 and $500 banknotes, [6] and the only series that includes the official seal of the Bank of Canada. [10] The $500 banknote was a "carry-over from Dominion of Canada bank notes", and is the only Bank of Canada banknote series to include this denomination. [6]

Other than the language in which they were printed, the English and French banknotes were the same. [6] In May 1935, deputy governor of the Bank of Canada John Osborne wrote a letter to a colleague in England in which he stated that "the English-speaking population is inclined to mutilate the French notes, and the French population complains they cannot get enough of their own notes". [10]

The Governor of the Bank of Canada is chief executive officer and the chairman of the board of directors of the Bank of Canada; the incumbent governor is Stephen S. Poloz, who assumed the office on June 3, 2013. Poloz was formerly the head of Export Development Canada. The Governor and Deputy Governor shall be appointed by the directors with the approval of the Governor in Council. [See Bank of Canada Act 1985, Section 6 (1) http://laws-lois.justice.gc.ca/eng/acts/b-2/FullText.html]

All banknotes in the series measure 152.4 by 73.025 millimetres (6.000 by 2.875 in), slightly shorter and wider than the 1914, 1918, 1928, and 1934 Federal Reserve Notes in circulation in the United States at the time, and were described by The Ottawa Evening Citizen as a "novelty to Canada". [1] They were printed on a material consisting of 75% linen and 25% cotton manufactured by the Howard Smith Paper Mills (now Domtar). [11]

Series of 1928 (United States Currency)

The Series of 1928 was the first issue of small-size currency printed and released by the U.S. government. These notes, first released to the public on July 10, 1929, were the first standardized notes in terms of design and characteristics, featuring similar portraits and other facets. These notes were also the first to measure 6.14" by 2.61", quite a bit smaller than the large-sized predecessors of Series 1923 and earlier that measured 7.421 8" by 3.125"

Federal Reserve Note current type of paper currency issued by the United States

Federal Reserve Notes, also United States banknotes, are the banknotes currently used in the United States of America. Denominated in United States dollars, Federal Reserve Notes are printed by the United States Bureau of Engraving and Printing on paper made by Crane & Co. of Dalton, Massachusetts. Federal Reserve Notes are the only type of U.S. banknote currently produced. Federal Reserve Notes are authorized by Section 16 of the Federal Reserve Act of 1913 and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System. The notes are then put into circulation by the Federal Reserve Banks, at which point they become liabilities of the Federal Reserve Banks and obligations of the United States.

United States Federal republic in North America

The United States of America (USA), commonly known as the United States or America, is a country comprising 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is slightly smaller than the entire continent of Europe, which is 3.9 million square miles. With a population of over 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the most populous city is New York City. Most of the country is located contiguously in North America between Canada and Mexico.

DenominationFace Image, EnglishFace image, FrenchBack image, EnglishBack image, FrenchColourFaceBackPrintedIssued
$1 [12] Obverse of $1 banknote, Canada 1935 Series, English version.jpg Obverse of $1 banknote, Canada 1935 Series, French version.jpg Reverse of $1 banknote, Canada 1935 Series, English version.jpg Reverse of $1 banknote, Canada 1935 Series, French version.jpg      Green George V Agriculture allegory193511 March 1935
$2 [13] Obverse of $2 banknote, Canada 1935 Series, English version.jpg Obverse of $2 banknote, Canada 1935 Series, French version.jpg Reverse of $2 banknote, Canada 1935 Series, English version.jpg Reverse of $2 banknote, Canada 1935 Series, French version.jpg      Blue Queen Mary Transportation allegory193511 March 1935
$5 [14] Obverse of $5 banknote, Canada 1935 Series, English version.jpg Obverse of $5 banknote, Canada 1935 Series, French version.jpg Reverse of $5 banknote, Canada 1935 Series, English version.jpg Reverse of $5 banknote, Canada 1935 Series, French version.jpg      Orange Edward, Prince of Wales Electric power allegory193511 March 1935
$10 [15] Obverse of $10 banknote, Canada 1935 Series, English version.jpg Obverse of $10 banknote, Canada 1935 Series, French version.jpg Reverse of $10 banknote, Canada 1935 Series, English version.jpg Reverse of $10 banknote, Canada 1935 Series, French version.jpg      Dark purple Princess Mary Harvest allegory193511 March 1935
$20 [16] Obverse of $20 banknote, Canada 1935 Series, English version.jpg Obverse of $20 banknote, Canada 1935 Series, French version.jpg Reverse of $20 banknote, Canada 1935 Series, English version.jpg Reverse of $20 banknote, Canada 1935 Series, French version.jpg      Rose Princess Elizabeth Agriculture allegory193511 March 1935
$25 [17] 1935 Series Bank of Canada $25 commemorative banknote, obverse.jpg Obverse of commemorative $25 banknote, Canada 1935 Series, French version.jpg 1935 Series Bank of Canada $25 commemorative banknote, reverse.jpg Reverse of commemorative $25 banknote, Canada 1935 Series, French version.jpg      Royal purpleKing George V and Queen MaryWindsor Castle19356 May 1935
$50 [18] Obverse of $50 banknote, Canada 1935 Series, English version.jpg Obverse of $50 banknote, Canada 1935 Series, French version.jpg Reverse of $50 banknote, Canada 1935 Series, English version.jpg Reverse of $50 banknote, Canada 1935 Series, French version.jpg      Reddish brown Prince Albert, Duke of York Modern Inventions allegory193511 March 1935
$100 [19] Obverse of $100 banknote, Canada 1935 Series, English version.jpg Obverse of $100 banknote, Canada 1935 Series, French version.jpg Reverse of $100 banknote, Canada 1935 Series, English version.jpg Reverse of $100 banknote, Canada 1935 Series, French version.jpg      Dark brown Prince Henry, Duke of Gloucester Commerce and industry allegory193511 March 1935
$500 [20] Obverse of $500 banknote, Canada 1935 Series, English version.jpg Obverse of $500 banknote, Canada 1935 Series, French version.jpg Reverse of $500 banknote, Canada 1935 Series, English version.jpg Reverse of $500 banknote, Canada 1935 Series, French version.jpg      Sepia John A. Macdonald Fertility allegory193511 March 1935
$1000 [21] Obverse of $1000 banknote, Canada 1935 Series, English version.jpg Obverse of $1000 banknote, Canada 1935 Series, French version.jpg Reverse of $1000 banknote, Canada 1935 Series, English version.jpg Reverse of $1000 banknote, Canada 1935 Series, French version.jpg      Olive Wilfrid Laurier Security allegory193511 March 1935

The banknotes were printed in greater variation of colour than the Dominion of Canada banknotes that had been previously issued. [1] These were green for the $1 banknote, [12] blue for the $2 banknote, [13] orange for the $5 banknote, [14] dark purple for the $10 banknote, [15] rose for the $20 banknote, [16] reddish brown for the $50 banknote, [18] dark brown for the $100 banknote, [19] sepia for the $500 banknote, [20] and olive for the $1000 banknote. [21] In April 1935, an article in The St. Maurice Valley Chronicle of Trois-Rivières stated that the appearance of the obverse of the $1 and $2 banknotes were too similar, particularly the green hue of the $1 banknote and the blue hue of the $2 banknote. [22] It stated that the colours of the reverse were more distinct, but could be "confused in artificial light". [22] The same article stated that the similarity between the English and French versions of the banknotes was a positive feature. [22] For the 1937 Series banknotes, the Bank of Canada would change the colour of the $2 banknote to terracotta red to address the issue. [23]

The design of the banknotes was in a similar formal baroque style of the earlier Dominion of Canada banknotes, with wide variation between the denominations in the series. [10] The central numerals on the obverse of each denomination have a distinct background design, each with a portrait to the left. [10] The corner numerals and decoration are also different for each banknote denomination. [10]

Portraits

The royal portraits used for the engravings were based on older photographs of each member of the royal family, who were said to "appear younger than their years on the new notes". [22] Depicted on the $1 banknote was George V. [12] The portrait and design was approved by Edgar Nelson Rhodes on 10 May 1934. [24]

Queen Mary appeared on the $2 banknote, [13] her portrait based on a photograph by Hay Wrighton that was engraved by Will Ford of the American Bank Note Company (ABN) and master engraver Harry P. Dawson of the BABN. [9] [25] The portrait of Edward, Prince of Wales wearing a colonel's uniform on the $5 banknote was based on a Department of External Affairs photograph taken by British photographer Vandyke and engraved by Dawson. [14] [25] On the $10 banknote was a portrait of Princess Mary based on a photograph by official British Royal Family photographer Richard Speaight and engraved by Dawson. [15] [25]

Princess Elizabeth at the age of 8 appears on the $20 banknote, the portrait based on a Marcus Adams photograph from 1934 for which an engraving was created by master engraver Edwin Gunn of ABN. [16] [26] [27] The portrait of Prince Albert, Duke of York wearing an admiral's uniform on the $50 banknote was based on a photograph taken by Bertram Park, for which an engraving was made by Robert Savage of ABN. [18] [28] It was subsequently used on six of the banknotes of the 1937 Series. [29] The $100 banknote includes a portrait of Prince Henry, Duke of Gloucester wearing the captain's uniform of the 10th Royal Hussars based on a photograph by Vandyke for which Ford created an engraving. [19]

The portrait of John A. Macdonald wearing a fur-collared coat and engraved by Ford is on the $500 banknote (and was also used on the $100 banknote of the 1937 Series banknotes), and a Gunn engraving of Wilfrid Laurier wearing a Prince Albert coat is the portrait on the $1000 banknote. [27] [29]

Allegories

Each denomination had a reverse depicting an allegorical figure, the framing of which was different for each denomination. [10] Agriculture was depicted on the $1 banknote [12] based on a painting by Alonzo Foringer of ABN, based off an engraving made by Will Jung. [9] A transportation allegory featuring the Roman mythological figure Mercury created by BABNC artists was on the $2 banknote, [13] [9] electric power generation engraved by Dawson on the $5 banknote, [14] [25] and of harvest engraved by Dawson on the $10 banknote. [15] [25] The $20 bank note, also based on a painting by Alonzo Foringer of ABN, shows two allegorical figures representing toil. [16] [26] An allegory of modern inventions is on the $50 banknote, [18] and commerce and industry is on the $100 banknote. [19] The fertility allegory on the $500 banknote was based on another painting by Foringer. [20] [30] The allegorical figure of security on the $1000 banknote was previously used on a 1917 issue of Russian bonds. [21] [27]

Commemorative $25 banknote

On 6 May 1935, the Bank of Canada issued a $25 banknote to commemorate the Silver Jubilee of the accession of George V to the throne. [17] It was a royal purple banknote with the portraits of King George V and Queen Mary on the obverse engraved by Ford and Gunn, and a scene depicting Windsor Castle on the reverse engraved by Louis Delmoce of ABN. [17] [26] It was the first commemorative banknote issued by the Bank of Canada. [31]

Printing

All printings of each denomination of the banknote series were signed by Graham Towers, the Governor of the Bank of Canada, and J.A.C. Osborne, the deputy governor. [12] [13] [14] [15] [16] [17] [18] [19] [20] [21] The English banknotes had serial numbers starting with the letter A, and the French banknotes had serial numbers starting with the letter F.

The Canadian Bank Note Company printed the $1 (series A and F), $20 (series A and F), $50 (series A and F), $100 (series A and F), $500 (series A and F), and $1000 (series A and F) banknotes, and the commemorative $25 banknote. [32] [33] [34] [35] [36] [37] [38] [39] The British American Bank Note Company printed the $2 (series A and F), $5 (series A and F), and $10 (series A and F) banknotes. [40] [41] [42]

Collecting

As of 2009, for a banknote graded as "very fine" a collector could expect to pay about US$ 1,600 for the commemorative $25 banknote, US$ 1,150 for the $50 banknote, US$ 750 for the $20 banknote, US$ 150 for the $10 banknote, and US$ 50 for the $1 banknote. [43]

Notes

  1. 1 2 3 4 5 The Ottawa Evening Citizen 1935, p. 1.
  2. ↑ Milwaukee Journal 1937, p. 7.
  3. 1 2 3 4 Powell, p. 29, Establishment of a central bank.
  4. ↑ Pomfret 2013, p. 177.
  5. ↑ Gough 2010, p. 83.
  6. 1 2 3 4 Bank of Canada.
  7. 1 2 The Art and Design of Canadian Bank Notes 2006, p. 21.
  8. ↑ The Art and Design of Canadian Bank Notes 2006.
  9. 1 2 3 4 The Art and Design of Canadian Bank Notes 2006, p. 31.
  10. 1 2 3 4 5 6 The Art and Design of Canadian Bank Notes 2006, p. 22.
  11. ↑ The Art and Design of Canadian Bank Notes 2006, p. 23.
  12. 1 2 3 4 5 Bank of Canada: $1 note.
  13. 1 2 3 4 5 Bank of Canada: $2 note.
  14. 1 2 3 4 5 Bank of Canada: $5 note.
  15. 1 2 3 4 5 Bank of Canada: $10 note.
  16. 1 2 3 4 5 Bank of Canada: $20 note.
  17. 1 2 3 4 Bank of Canada: $25 note.
  18. 1 2 3 4 5 Bank of Canada: $50 note.
  19. 1 2 3 4 5 Bank of Canada: $100 note.
  20. 1 2 3 4 Bank of Canada: $500 note.
  21. 1 2 3 4 Bank of Canada: $1000 note.
  22. 1 2 3 4 The St. Maurice Valley Chronicle 1935, p. 2.
  23. ↑ The Art and Design of Canadian Bank Notes 2006, p. 38.
  24. ↑ The Art and Design of Canadian Bank Notes 2006, p. 25.
  25. 1 2 3 4 5 The Art and Design of Canadian Bank Notes 2006, p. 32.
  26. 1 2 3 The Art and Design of Canadian Bank Notes 2006, p. 33.
  27. 1 2 3 The Art and Design of Canadian Bank Notes 2006, p. 35.
  28. ↑ The Art and Design of Canadian Bank Notes 2006, p. 34.
  29. 1 2 The Art and Design of Canadian Bank Notes 2006, p. 26.
  30. ↑ The Art and Design of Canadian Bank Notes 2006, p. 28.
  31. ↑ Powell 2005, p. 44, The Depression Years and the Creation of the Bank of Canada (1930—1939).
  32. ↑ Currency Museum: $1.
  33. ↑ Currency Museum: $20.
  34. ↑ Currency Museum: $50.
  35. ↑ Currency Museum: $100.
  36. ↑ Currency Museum: $500.
  37. ↑ Currency Museum: $1000.
  38. ↑ Currency Museum: $25.
  39. ↑ Cuhaj 2010, p. 188–189.
  40. ↑ Currency Museum: $2.
  41. ↑ Currency Museum: $5.
  42. ↑ Currency Museum: $10.
  43. ↑ Sieber 2009, p. 1957.

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