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| Issuer | Banque Canadienne Nationale |
|---|---|
| Year | 1929 |
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| Composition | Cotton paper |
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| Obverse description | Black intaglio on purple guilloche underprint. Portrait of F. L. Beique at left and portrait of B. Leman at right flank the central vignette. Bank name and denomination inscribed in period typography. |
|---|---|
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| Reverse description | Printed in purple. Three provincial crests arranged at centre, flanked by denomination counters and guilloche ornaments within a formal engraved border. |
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| Comments |
The Banque Canadienne Nationale was formed in 1924 through the merger of the Banque Nationale and the Banque d'Hochelaga, and this 1929 issue falls right at the peak of that institution's confidence — printed just before the Depression effectively ended private bank note circulation in Canada. The chartered bank note system was already being wound down federally; the Bank of Canada Act of 1934 would eventually strip chartered banks of their right to issue currency entirely, with the final private notes pulled from circulation by 1950.
High-denomination chartered bank notes from this period survived in tiny numbers. The $100 face value meant most were held briefly, paid through, and returned to the bank rather than circulating widely in trade.