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Banknotes have been issued in Canada and the British colonies that confederated to form Canada from 1 July 1867.
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.
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.
List of Canadian Chartered Banks that issued notes for circulation in Canada [7] | |
---|---|
Bank | Dates of Issues |
Agricultural Bank | 1834-1837 |
Arman's Bank | 1837 |
Bank of Acadia | 1872 |
Bank of Brantford | 1859 |
Bank of British Columbia | 1862-1894 |
Bank of British North America | 1852-1911 |
Bank of Clifton | 1859-1861 |
Bank of Fredericton | 1837-1838 |
Bank of Hamilton | 1872-1922 |
Bank of Liverpool | 1871 |
Bank of London | 1883 |
Bank of Lower Canada | 1839-1851 |
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 Island | 1856-1877 |
Bank of the County of Elgin | 1856 |
Bank of Toronto | 1856-1937 |
Bank of Upper Canada | 1819-1861 |
Bank of Vancouver | 1910 |
Bank of Western Canada | 1859 |
Bank of Yarmouth | 1860-1891 |
Banque De Boucherville | 1837 |
Banque Canadienne | 1836 |
Banque Nationale/ Banque Canadienne Nationale | 1860-1935 |
Banque du Peuple | 1835-1892 |
Banque de St. Hyancinthe | 1874-1892 |
Banque de St. Jean | 1873-1906 |
Banque d'Hochelaga | 1874-1920 |
Banque Internationale de Canada | 1862-1895 |
Banque Provinciale du Canada | 1900-1936 |
Banque St. Jean Baptiste | 1875 |
Banque Ville Marie | 1873-1889 |
Barclays Bank Canada | 1929-1935 |
British Canadian Bank | 1884 |
Canada Bank Company [8] | 1792 |
Canadian Bank of Commerce | 1867-1935 |
Central Bank of Canada | 1884 |
Central Bank of New Brunswick | 1847-1860 |
Charlotte County Bank | 1852-1859 |
City Bank of Montreal | 1833-1857 |
City Bank, Saint John, New Brunswick | 1836-1838 |
Colonial Bank of Canada | 1859 |
Commercial Bank of Canada | 1857-1862 |
Commercial Bank of Manitoba | 1885-1891 |
Commercial Bank of Montreal | 1835-1836 |
Commercial Bank of New Brunswick | 1837-1860 |
Commercial Bank of the Midland District | 1832-1854 |
Commercial Bank of Windsor | 1860-1898 |
Consolidated Bank of Canada | 1876 |
Crown Bank of Canada | 1904 |
Dominion Bank | 1871-1938 |
Eastern Bank of Canada | 1929 |
Eastern Townships Bank | 1859-1906 |
Exchange Bank of Canada | 1872-1873 |
Exchange Bank of Toronto | 1855 |
Exchange Bank of Yarmouth | 1869-1902 |
Farmers Bank of Canada | 1907-1908 |
Farmers' Bank of Rustico | 1864-1872 |
Farmers' Joint Stock Banking Company | 1835-1849 |
Federal Bank of Canada | 1874-1884 |
Goderich Bank | 1834 |
Gore Bank | 1836-1856 |
Grenville County Bank | 1856 |
Halifax Banking Company | 1825-1898 |
Hart's Bank | 1837-1838 |
Henry's Bank | 1837 |
Home Bank of Canada | 1904-1920 |
Hudson's Bay Company | 1820-1870 |
Imperial Bank of Canada | 1875-1939 |
International Bank of Canada | 1858-1859 |
MacDonald and Co. | 1863 |
Maritime Bank of the Dominion of Canada | 1873-1882 |
Mechanics Bank of Montreal | 1872 |
Mercantile Banking Corporation | 1878 |
Merchants Bank of Canada | 1868-1919 |
Merchants Bank of Halifax | 1864-1899 |
Merchants Bank in Montreal | 1874 |
Merchants Bank of Montreal | 1837 |
Merchants Bank of Prince Edward Island | 1871-1900 |
Metropolitan Bank, Montreal | 1872 |
Metropolitan Bank of Toronto | 1902-1912 |
Molsons Bank | 1837-1922 |
Newcastle District Loan Company | 1836 |
Newcastle Banking Company | 1836 |
Niagara District Bank | 1854-1872 |
Niagara Suspension Bridge Bank | 1836-1841 |
Northern Bank | 1905 |
Northern Crown Bank | 1908-1914 |
Ontario Bank | 1857-1898 |
People's Bank of Halifax | 1864-1903 |
People's Bank of New Brunswick | 1864-1905 |
Pictou Bank of Nova Scotia | 1874-1882 |
Provincial Bank of Canada in Stanstead | 1856 |
Quebec Bank | 1818-1911 |
Royal Bank of Canada | 1901-1943 |
Royal Canadian Bank | 1865-1872 |
Saint Francis Bank | 1850 |
Sovereign Bank of Canada | 1902-1907 |
St. Lawrence Bank | 1872 |
St. Stephens Bank | 1830-1903 |
Stadacona Bank | 1874 |
Standard Bank of Canada | 1876-1924 |
Sterling Bank of Canada | 1906-1921 |
Summerside Bank of Prince Edward Island | 1866-1900 |
Tattersall Bank | 1830 |
Traders Bank of Canada | 1885-1910 |
Union Bank | 1838 |
Union Bank of Canada | 1886-1921 |
Union Bank of Halifax | 1861-1909 |
Union Bank of Lower Canada | 1866-1871 |
Union Bank of Montreal | 1840 |
Union Bank of Prince Edward Island | 1864-1877 |
United Empire Bank of Canada | 1906 |
Western Bank of Canada | 1882-1890 |
Westmorland Bank | 1854-1861 |
Weyburn Security Bank | 1911 |
Zimmerman Bank | 1854-1856 |
Bank Name | ID |
---|---|
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 Yarmouth | PS701-704. |
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 Marie | PS936-946. |
Barclays Bank Canada | PS947-951. |
Canadian Bank of Commerce | PS952-972. |
City Bank | PS972A-972C. |
Commercial Bank of Canada | PS973-996. |
Commercial Bank of Manitoba | PS997-1000. |
Commercial Bank of the Midland District | PS1000A-1000W. |
Commercial Bank of Windsor | PS1001-1004. |
Crown Bank of Canada | PS1006-1009. |
Dominion Bank | PS1011-1036. |
Eastern Townships Bank | PS1041-1057. |
Exchange Bank of Yarmouth | PS1058-1060. |
Farmers Bank of Canada | PS1061-1065. |
Gore Bank | PS1066-1069. |
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 Canada | PS1146-1173. |
Merchants' Bank of Halifax | PS1174-1189. |
Merchants' Bank of Prince Edward Island | PS1191-1196. |
Metropolitan Bank | PS1197-1201. |
Molsons Bank | PS1202-1243. |
Montreal Bank | PS1243A-1243K. |
Niagara District Bank | PS1243L-1243V. |
Northern Bank | PS1244-1247. |
Northern Crown Bank | PS1248-1251. |
Ontario Bank | PS1252-1286. |
Peoples' Bank of Halifax | PS1287-1290. |
Peoples' Bank of New Brunswick | PS1291-1302. |
Quebec Bank | PS1306-1368. |
Royal Bank of Canada | PS1369-1394. |
Saint Lawrence Bank | PS1395-1399. |
Saint Stephen's Bank | PS1400-1430. |
Sovereign Bank of Canada | PS1431-1434. |
Standard Bank of Canada | PS1435-1447. |
Sterling Bank of Canada | PS1448-1453. |
Summerside Bank of Prince Edward Island | PS1454-1465. |
Traders' Bank of Canada | PS1466-1482. |
Union Bank of Canada | PS1483-1507. |
Union Bank of Halifax | PS1511-1521. |
Union Bank of Lower Canada | PS1521A-1521J. |
Union Bank of Prince Edward Island | PS1522-1533. |
United Empire Bank of Canada | PS1534-1535. |
Western Bank of Canada | PS1536-1538. |
Weyburn Security Bank | PS1539-1541. |
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 | ||
---|---|---|
Bank | Dates of Issues | Denominations |
Canadian Bank of Commerce | ||
- Barbados | 1922 and 1940 | $5, $20, $100 |
- Jamaica | 1921 and 1938 | £1, £5 |
- Trinidad | 1921 and 1939 | $5, $20, $100 |
Bank of Nova Scotia | ||
- Jamaica | 1900, 1919, 1920 and 1930 | £1, £5 |
Royal Bank of Canada [10] | ||
- Antigua | 1913, 1920 and 1938 | $5 |
- Barbados | 1909, 1920 and 1938 | $5, $20, $100 |
- British Guiana | 1913, 1920 and 1938 | $5, $20, $100 |
- Dominica | 1913, 1920 and 1938 | $5 |
- Grenada | 1909, 1920 and 1938 | $5 |
- Jamaica | 1911 and 1938 | £1, £5 |
- St Kitts | 1913, 1920 and 1938 | $5 |
- St Lucia | 1920 | $5 |
- Trinidad | 1909, 1920 and 1938 | $5, $20, $100 |
Union Bank of Halifax | ||
- Trinidad | 1905 | $5, $10, $20, $50, $100 |
The following banks issued notes that cannot be exchanged for current Canadian dollar banknotes. [11]
Bank | Catalog 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 |
The Eastern Caribbean dollar is the currency of all seven full members and one associate member of the Organisation of Eastern Caribbean States (OECS). The successor to the British West Indies dollar, it has existed since 1965, and it is normally abbreviated with the dollar sign $ or, alternatively, EC$ to distinguish it from other dollar-denominated currencies. The EC$ is subdivided into 100 cents. It has been pegged to the United States dollar since 7 July 1976, at the exchange rate of US$1 = EC$2.70.
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt.
The Belize dollar is the official currency in Belize. It is normally abbreviated with the dollar sign $, or alternatively BZ$ to distinguish it from other dollar-denominated currencies.
The Singapore dollar is the official currency of the Republic of Singapore. It is divided into 100 cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore (MAS) issues the banknotes and coins of the Singapore dollar.
The British West Indies dollar (BWI$) was the currency of British Guiana and the Eastern Caribbean territories of the British West Indies from 1949 to 1965, when it was largely replaced by the East Caribbean dollar, and was one of the currencies used in Jamaica from 1954 to 1964. The monetary policy of the currency was overseen by the British Caribbean Currency Board (BCCB). It was the official currency used by the West Indies Federation. The British West Indies dollar was never used in British Honduras, the Cayman Islands, the Turks and Caicos Islands, the Bahamas, or Bermuda.
The pound was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. Like other £sd currencies, it was subdivided into 20 shillings, each of 12 pence.
The Trinidad and Tobago dollar is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. Cents are abbreviated with the cent sign ¢, or TT¢ to distinguish from other currencies that use cents. Its predecessor currencies are the Trinidadian dollar and the Tobagonian dollar.
The Guyanese dollar has been the unit of account in Guyana since 29 January 1839. Originally it was intended as a transitional unit to facilitate the changeover from the Dutch guilder system of currency to the British pound sterling system. The Spanish dollar was already prevalent throughout the West Indies in general, and from 1839, the Spanish dollar unit operated in British Guiana in conjunction with British sterling coins at a standard conversion rate of one dollar for every four shillings and twopence. In 1951 the British sterling coinage was replaced with a new decimal coinage which was simultaneously introduced through all the British territories in the Eastern Caribbean. When sterling began to depreciate in the early 1970s, a switch to a US dollar peg became increasingly attractive as an anti-inflationary measure and the Eastern Caribbean Currency Authority made the switch in October 1975. The Guyanese dollar is normally abbreviated with the dollar sign $, or alternatively G$ to distinguish it from other dollar-denominated currencies.
The dollar has been the currency of Barbados since 1935. Globally its currency has the ISO 4217 code BBD, however, unofficially in Barbados the International vehicle registration code BDS is also commonly used, a currency code that is otherwise reserved for Bangladesh outside Barbados. As such the present Barbados dollar has the official ISO 4217 code of BB which matches the [dot] .bb Cc-TLD domain names classification for Barbados under ISO 3166, plus D for dollar in the foreign exchange market. The Barbadian dollar is considered as a currency which can be divided into 100 cents, though the 1 cent coin is in the process of being phased out.
The pound was the official currency of Jamaica between 1840 and 1969. It circulated as a mixture of sterling coinage and locally issued coins and banknotes and was always equal to the pound sterling. The Jamaican pound was also used in the Cayman and Turks and Caicos Islands.
The daler was the currency of the Danish West Indies between 1849 and 1917, and of the United States Virgin Islands between 1917 and 1934.
The dollar was the currency of the colony of Newfoundland and, later, the Dominion of Newfoundland, from 1865 until 1949, when Newfoundland became a province of Canada. It was subdivided into 100 cents.
The history of Canadian currencies began with Indigenous peoples in Canada prior to European contact, when they used items such as wampum and furs for trading purposes. The Indigenous peoples continued to use those items as currency when trade with Europeans began. During the period of French colonization, coins were introduced, as well as one of the first examples of paper currency by a western government. During the period of British colonization, additional coinage was introduced, as well as banknotes. The Canadian colonies gradually moved away from the British pound and adopted currencies linked to the United States dollar. With Confederation in 1867, the Canadian dollar was established. By the mid-20th century, the Bank of Canada was the sole issuer of paper currency, and banks ceased to issue banknotes.
The pound was the currency of the Canadas until 1858. It was subdivided into 20 shillings (s), each of 12 pence (d). In Lower Canada, the sou was used, equivalent to a halfpenny. Although the £sd accounting system had its origins in sterling, the Canadian pound was never at par with sterling's pound.
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 Bank of Canada has contracted the Canadian Bank Note Company to produce the Canadian notes since then. 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 Bank of Canada Museum in Ottawa.
The history of currency in the British colony of Dominica closely follows that of the British Eastern Caribbean territories in general. Even though Queen Anne's proclamation of 1704 brought the gold standard to the West Indies, silver pieces of eight continued to form a major portion of the circulating currency right into the latter half of the nineteenth century.
The history of currency in the British colony of Grenada closely follows that of the British Eastern Caribbean territories in general. Even though Queen Anne's proclamation of 1704 brought the gold standard to the West Indies, silver pieces of eight continued to form a major portion of the circulating currency right into the latter half of the nineteenth century.
The history of currency in the British colony of St. Kitts closely follows that of the British Eastern Caribbean territories in general. Even though Queen Anne's proclamation of 1704 brought the gold standard to the West Indies, silver pieces of eight continued to form a major portion of the circulating currency right into the latter half of the nineteenth century.
The history of currency in the British colony of Saint Lucia closely follows that of the British Eastern Caribbean territories in general. Even though Queen Anne's proclamation of 1704 brought the gold standard to the West Indies, silver pieces of eight continued to form a major portion of the circulating currency right into the latter half of the nineteenth century.
The dollar was the currency of British Columbia between 1865 and 1871. It replaced the British pound at a rate of 1 pound per 4.866 dollars and was equivalent to the Canadian dollar, which replaced it. The dollar was subdivided into 100 cents. No distinct coins were issued, with Canadian coins circulating.