20 Dollars

The Royal Bank of Canada's 1935 series was produced against a backdrop of genuine institutional anxiety — Canadian chartered banks were losing their note-issuing privilege under pressure from the newly created Bank of Canada, established that same year. This note is among the last generation of privately issued Canadian currency, a right the chartered banks would formally surrender in 1950.

British American Bank Note Co. held long relationships with most of the major Canadian chartered banks and printed this series at their Ottawa plant. Dobson served as President of the Royal Bank at the time of issue; Neill was General Manager.