10 Dollars

The Royal Bank's 1935 series arrived at an awkward moment — the Bank of Canada had just been established that same year and immediately began absorbing chartered bank circulation. The Royal Bank and other private issuers retained the legal right to circulate their own notes but faced a structured phase-out, with a prohibitive tax on chartered bank notes below $5 eventually squeezing the smaller denominations out entirely. The $10 denomination survived longer, giving notes like this one a genuine if brief period of active use.

Morris Wilson was president of the Royal Bank at the time of signing. The British American Bank Note Company in Ottawa had been the Royal Bank's primary printer for decades by this point, a relationship that shows in the consistent execution across the 1935 series.