Canadian banknote issuers

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Banknotes have been issued in Canada and the British colonies that confederated to form Canada from 1 July 1867.

Contents

Between 1871 and 1944, Canadian chartered banks were authorized to issue bank notes for circulation in Canada. [1] In 1899, they were invested with the additional authority to issue bank notes for circulation in any British colony or possession. [2] For several decades thereafter, the chartered banks were the only issuers of larger denominated notes for circulation in Canada, and an important source of notes for circulation in the British West Indies.

In 1934, the newly established Bank of Canada was given "the sole right to issue notes payable to bearer on demand". [3] Coincident with the introduction of the new Bank of Canada notes in 1935, arrangements were made for the gradual contraction in the quantity of chartered bank notes in circulation. As of the end of 1944, the Canadian government withdrew permission for Canadian banks to issue new notes for circulation in Canada; and by 1950, liability for all outstanding Canadian bank notes was transferred to the Bank of Canada, where such notes may still be redeemed. [4] The total value of the notes outstanding at that time was $13,302,046.60.

Provincial Issues


Domestic issues

Notes for circulation in Canada were issued in a variety of different denominations, including 1, 2, 3, 4, 5, 10, 20, 25, 40, 50, 100, 500 and 1000 dollars. In 1871, the smallest denomination allowed was 4 dollars, [5] which was raised to 5 dollars in 1880. [6]

The following is a list of banks with note-issuing privileges and the periods during which they issued notes in Canada. The end dates are the dates appearing on the last note issues, but notes may have circulated for some time after.

Colonial Bank of Canada, Toronto, 1859, $4.. Standing Justice (left) and portrait of Queen Victoria (centre). Obverse CAN-S1669-Colonial Bank of Canada, Toronto-4 Dollars (1859).jpg
Colonial Bank of Canada, Toronto, 1859, $4.. Standing Justice (left) and portrait of Queen Victoria (centre). Obverse
Bank of Hamilton, 1892, $5 96 1 b.JPG
Bank of Hamilton, 1892, $5
Canadian Bank of Commerce, Trinidad, 1939, $5 Canadian Bank of Commerce, Trinidad, 1939, $5.jpg
Canadian Bank of Commerce, Trinidad, 1939, $5
Royal Bank of Canada, Barbados, 1938, $20 or PS4.3.4. Obverse Royal Bank of Canada, Trinidad, 1920, $20 or PS4.3.4.jpg
Royal Bank of Canada, Barbados, 1938, $20 or £4.3.4. Obverse
Bank of Nova Scotia, Jamaica, 1930, PS1. Obverse Bank of Nova Scotia, Jamaica, 1930, PS1.jpg
Bank of Nova Scotia, Jamaica, 1930, £1. Obverse
The RBC 1943 $5 note was the last note issued by a chartered bank in Canada. Royal Bank of Canada $5 (1943).jpg
The RBC 1943 $5 note was the last note issued by a chartered bank in Canada.


List of Canadian Chartered Banks that issued notes

for circulation in Canada [7]

BankDates of Issues
Agricultural Bank1834-1837
Arman's Bank1837
Bank of Acadia1872
Bank of Brantford1859
Bank of British Columbia 1862-1894
Bank of British North America 1852-1911
Bank of Clifton1859-1861
Bank of Fredericton1837-1838
Bank of Hamilton 1872-1922
Bank of Liverpool1871
Bank of London1883
Bank of Lower Canada1839-1851
Montreal Bank/
Bank of Montreal
1817-1942
Bank of New Brunswick 1820-1906
Bank of Nova Scotia 1834-1935
Bank of Ottawa 1874-1913
Bank of Prince Edward Island1856-1877
Bank of the County of Elgin1856
Bank of Toronto 1856-1937
Bank of Upper Canada 1819-1861
Bank of Vancouver1910
Bank of Western Canada1859
Bank of Yarmouth1860-1891
Banque De Boucherville1837
Banque Canadienne1836
Banque Nationale/
Banque Canadienne Nationale
1860-1935
Banque du Peuple1835-1892
Banque de St. Hyancinthe1874-1892
Banque de St. Jean1873-1906
Banque d'Hochelaga1874-1920
Banque Internationale de Canada1862-1895
Banque Provinciale du Canada 1900-1936
Banque St. Jean Baptiste1875
Banque Ville Marie1873-1889
Barclays Bank Canada 1929-1935
British Canadian Bank1884
Canada Bank Company [8] 1792
Canadian Bank of Commerce 1867-1935
Central Bank of Canada1884
Central Bank of New Brunswick1847-1860
Charlotte County Bank1852-1859
City Bank of Montreal 1833-1857
City Bank, Saint John, New Brunswick1836-1838
Colonial Bank of Canada1859
Commercial Bank of Canada1857-1862
Commercial Bank of Manitoba 1885-1891
Commercial Bank of Montreal1835-1836
Commercial Bank of New Brunswick1837-1860
Commercial Bank of the Midland District1832-1854
Commercial Bank of Windsor1860-1898
Consolidated Bank of Canada 1876
Crown Bank of Canada1904
Dominion Bank 1871-1938
Eastern Bank of Canada1929
Eastern Townships Bank 1859-1906
Exchange Bank of Canada1872-1873
Exchange Bank of Toronto1855
Exchange Bank of Yarmouth1869-1902
Farmers Bank of Canada1907-1908
Farmers' Bank of Rustico 1864-1872
Farmers' Joint Stock Banking Company 1835-1849
Federal Bank of Canada1874-1884
Goderich Bank1834
Gore Bank1836-1856
Grenville County Bank1856
Halifax Banking Company1825-1898
Hart's Bank1837-1838
Henry's Bank1837
Home Bank of Canada 1904-1920
Hudson's Bay Company1820-1870
Imperial Bank of Canada 1875-1939
International Bank of Canada1858-1859
MacDonald and Co.1863
Maritime Bank of the Dominion of Canada1873-1882
Mechanics Bank of Montreal1872
Mercantile Banking Corporation1878
Merchants Bank of Canada1868-1919
Merchants Bank of Halifax1864-1899
Merchants Bank in Montreal1874
Merchants Bank of Montreal1837
Merchants Bank of Prince Edward Island1871-1900
Metropolitan Bank, Montreal1872
Metropolitan Bank of Toronto1902-1912
Molsons Bank 1837-1922
Newcastle District Loan Company1836
Newcastle Banking Company1836
Niagara District Bank1854-1872
Niagara Suspension Bridge Bank1836-1841
Northern Bank1905
Northern Crown Bank1908-1914
Ontario Bank 1857-1898
People's Bank of Halifax1864-1903
People's Bank of New Brunswick1864-1905
Pictou Bank of Nova Scotia1874-1882
Provincial Bank of Canada in Stanstead1856
Quebec Bank 1818-1911
Royal Bank of Canada 1901-1943
Royal Canadian Bank1865-1872
Saint Francis Bank1850
Sovereign Bank of Canada1902-1907
St. Lawrence Bank1872
St. Stephens Bank1830-1903
Stadacona Bank1874
Standard Bank of Canada 1876-1924
Sterling Bank of Canada1906-1921
Summerside Bank of Prince Edward Island1866-1900
Tattersall Bank1830
Traders Bank of Canada1885-1910
Union Bank1838
Union Bank of Canada 1886-1921
Union Bank of Halifax 1861-1909
Union Bank of Lower Canada1866-1871
Union Bank of Montreal1840
Union Bank of Prince Edward Island1864-1877
United Empire Bank of Canada1906
Western Bank of Canada1882-1890
Westmorland Bank1854-1861
Weyburn Security Bank 1911
Zimmerman Bank1854-1856

Chartered Banks

Canadian chartered banks historically issuing banknotes
Bank NameID
Bank of British Columbia PS201-219.
Bank of British North America PS221-435.
Bank of Hamilton PS441-468.
Bank of Montreal PS471-564.
Bank of New Brunswick PS571-599.
Bank of Nova Scotia PS601-633.
Bank of Ottawa PS636-664.
Bank of Toronto PS666-693.
Bank of Vancouver PS696-700.
Bank of YarmouthPS701-704.
Banque Canadienne Nationale (National Bank of Canada)PS706-717.
Banque d'Hochelaga (Bank of Hochelaga)PS721-815.
Banque Internationale du Canada (International Bank of Canada)PS816-818.
Banque Jacques Cartier (Jacques Cartier Bank)PS821-837.
Banque Nationale (National Bank)PS841-875.
Bank of the People PS875A-875E.
Banque du Peuple (Bank of the People)PS876-909.
Banque Provincale du Canada (Provincial Bank of Canada)PS911-922.
Banque de St. Hyacinthe (Bank of Saint Hyacinthe)PS924-929.
Banque de St. Jean (Bank of Saint Jean)PS931-935.
Banque Ville MariePS936-946.
Barclays Bank Canada PS947-951.
Canadian Bank of Commerce PS952-972.
City Bank PS972A-972C.
Commercial Bank of CanadaPS973-996.
Commercial Bank of Manitoba PS997-1000.
Commercial Bank of the Midland DistrictPS1000A-1000W.
Commercial Bank of WindsorPS1001-1004.
Crown Bank of CanadaPS1006-1009.
Dominion Bank PS1011-1036.
Eastern Townships Bank PS1041-1057.
Exchange Bank of YarmouthPS1058-1060.
Farmers Bank of CanadaPS1061-1065.
Gore BankPS1066-1069.
Halifax Banking Company PS1070-1086.
Home Bank of Canada PS1087-1091.
Hudson's Bay Company PS1095-1121.
Imperial Bank of Canada PS1122-1145H.
Merchants' Bank of CanadaPS1146-1173.
Merchants' Bank of HalifaxPS1174-1189.
Merchants' Bank of Prince Edward IslandPS1191-1196.
Metropolitan BankPS1197-1201.
Molsons Bank PS1202-1243.
Montreal Bank PS1243A-1243K.
Niagara District BankPS1243L-1243V.
Northern Bank PS1244-1247.
Northern Crown BankPS1248-1251.
Ontario Bank PS1252-1286.
Peoples' Bank of HalifaxPS1287-1290.
Peoples' Bank of New BrunswickPS1291-1302.
Quebec Bank PS1306-1368.
Royal Bank of Canada PS1369-1394.
Saint Lawrence BankPS1395-1399.
Saint Stephen's BankPS1400-1430.
Sovereign Bank of CanadaPS1431-1434.
Standard Bank of Canada PS1435-1447.
Sterling Bank of Canada PS1448-1453.
Summerside Bank of Prince Edward IslandPS1454-1465.
Traders' Bank of CanadaPS1466-1482.
Union Bank of Canada PS1483-1507.
Union Bank of Halifax PS1511-1521.
Union Bank of Lower CanadaPS1521A-1521J.
Union Bank of Prince Edward IslandPS1522-1533.
United Empire Bank of CanadaPS1534-1535.
Western Bank of CanadaPS1536-1538.
Weyburn Security Bank PS1539-1541.

British West Indies issues

In the British West Indies, Canadian bank notes circulated from 1900 to 1950 alongside notes of the Colonial Bank (later, Barclays Bank) and, in some places, notes of smaller denominations issued by local authorities. [9]

The following is a list of the Canadian banks that issued notes for circulation in the British West Indies, together with the dates and denominations of those issues.

List of Canadian Chartered Banks that issued notes

for circulation outside of Canada

BankDates of

Issues

Denominations
Canadian Bank of Commerce
- Barbados1922 and 1940$5, $20, $100
- Jamaica1921 and 1938£1, £5
- Trinidad1921 and 1939$5, $20, $100
Bank of Nova Scotia
- Jamaica1900, 1919,

1920 and 1930

£1, £5
Royal Bank of Canada [10]
- Antigua1913, 1920

and 1938

$5
- Barbados1909, 1920

and 1938

$5, $20, $100
- British Guiana1913, 1920

and 1938

$5, $20, $100
- Dominica1913, 1920

and 1938

$5
- Grenada1909, 1920

and 1938

$5
- Jamaica1911 and 1938£1, £5
- St Kitts1913, 1920

and 1938

$5
- St Lucia1920$5
- Trinidad1909, 1920

and 1938

$5, $20, $100
Union Bank of Halifax
- Trinidad1905$5, $10, $20, $50, $100

Spurious or Expired Banks

The following banks issued notes that cannot be exchanged for current Canadian dollar banknotes. [11]

BankCatalog numbers
Bank of Acadia PS1542–1545
Accommodation Bank PS1546–1547
Agricultural Bank, Montreal PS1548–1550
Agricultural Bank, Toronto PS1551–1564
Arman's Bank PS1565–1567
Banque de Boucherville (Bank of Boucherville)PS1568
Bank of Brantford PS1569–1576
British Canadian Bank PS1577–1578
Canada Bank, Montreal PS1579–1580
Canada Bank, Toronto PS1581–1583
Bank of Canada, Montreal [lower-alpha 1] PS1584–1595
Banque Canadienne (Canadian Bank)S1596–1599
Central Bank of Canada PS1600–1602
Central Bank of New Brunswick PS1603–1617
Charlotte County Bank PS1618–1622
Bank of Charlottetown PS1623–1625

See also

Notes

  1. Unrelated to the current Bank of Canada.

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References

  1. See Bank Act, Statutes of Canada, 1871, chapter 5; Bank Act, Statutes of Canada, 1944, chapter 30, section 61. For a complete catalogue of Canadian chartered bank note issues, see R. J. Graham (ed.), Canadian Bank Notes, 9th ed., The Charlton Press, Toronto, 2019
  2. See An Act to amend the Bank Act, Statutes of Canada, 1899, c. 14
  3. Bank of Canada Act, Statutes of Canada, 1934, chapter 43, section 24
  4. See An Act to amend the Bank Act, Statutes of Canada, 1944, chapter 30, section 61.
  5. Bank Act, Statutes of Canada, 1871, chapter 5, section 8.
  6. Bank Act, Statutes of Canada, 1880, chapter 22, section 12(2).
  7. The list includes some banks and other institutions that issued notes prior to the establishment of Canada in 1867 and the enactment of the first Bank Act in 1871.
  8. It is uncertain whether these notes were ever put into circulation.
  9. For a history of these issues, see Michael H. Ryan, "Canadian Banknotes for the British West Indies, 1900-1950", International Bank Note Society Journal, vol. 58, no. 1 (2019), pp. 22-35. Available at SSRN: https://ssrn.com/abstract=3700505 or http://dx.doi.org/10.2139/ssrn.3700505
  10. The 1920 and 1938 issues were also denominated in sterling: $5 = £1.0.10; $20 = £4.3.4; $100 = £20.16.8. Not all notes are known in issued form.
  11. Cuhaj, George S., ed. (18 December 2013). "Canada". Standard Catalog of World Paper Money, Specialized Issues (12th ed.). Iola: Krause Publications. pp. 179–180. ISBN   978-1-4402-3883-3.