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10 Dollars
| Issuer | Banque Canadienne Nationale |
|---|---|
| Year | 1935 |
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| Value | Log in to see details |
| Currency | Dollar (1858-date) |
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|---|---|
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| Reverse description | The reverse is printed in olive-brown intaglio on a fine guilloche background, centred on a large oval containing the Canadian coat of arms with provincial shield quarterings, supported by heraldic devices and surmounted by the word CANADA. Large numeral 10 counters appear at left and right within elaborate scrollwork frames, and a beaver device is visible at the base of the central oval. The bank name BANQUE CANADIENNE NATIONALE is lettered in two lines across the lower portion within a decorative panel. |
| Reverse lettering | CANADA TEN DIX BANQUE CANADIENNE NATIONALE CANADIAN BANK NOTE COMPANY, LIMITED |
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| Comments |
The Banque Canadienne Nationale was a Montreal-based francophone institution formed in 1924 from the merger of the Banque Nationale and the Banque d'Hochelaga. By 1935, Canadian chartered banks were operating under a system about to be dismantled — the Bank of Canada Act of 1934 had established the central bank, which began operations in March 1935, and the chartered banks' note-issuing privileges were already on a legislated path toward extinction. This note was printed in the final years when private banks in Canada could still circulate their own currency.
The Canadian Bank Note Company handled the majority of chartered bank printing work in this period. Privilege tax obligations under the Finance Act made over-issuance a practical liability, not merely a regulatory one.