1 Dollar = 5 Shillings

The Agricultural Bank of Toronto was a short-lived chartered institution that collapsed in 1837, the same year this note was issued — caught in the broader financial panic that swept across North America as land speculation imploded and specie payments were suspended throughout Upper Canada. Notes from this bank had an extremely brief window of legitimate circulation before the bank's failure rendered them worthless, which is precisely why surviving examples are rare.

The dual denomination — one dollar equated to five shillings — reflects the awkward monetary reality of pre-Confederation Canada, where British shillings and American dollars competed in daily commerce with no clean official equivalence enforced at the counter.