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5 Dollars (1 Pounds 10 Pence)
| Issuer | Royal Bank of Canada |
|---|---|
| Year | 1938 |
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| Reference(s) | P#S181 |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | THE ROYAL BANK OF CANADA WILL PAY TO BEARER ON DEMAND AT BRIDGETOWN BARBADOS FIVE BARBADOS DOLLARS THE EQUIVALENT OF £1-0-10 THE SUM OF FIVE DOLLARS IN BARBADOS CURRENCY REDEEMABLE ONLY IN BARBADOS BRIDGETOWN BARBADOS JANUARY 3RD 1938 CANADIAN BANK NOTE COMPANY, LIMITED |
| Reverse description | Log in to see details |
| Reverse lettering | FIVE BARBADOS DOLLARS THE EQUIVALENT OF £1-0-10 FIVE BARBADOS DOLLARS THE EQUIVALENT OF £1-0-10 DIEU ET MON DROIT THE ROYAL BANK OF CANADA CANADIAN BANK NOTE COMPANY, LIMITED |
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| Comments |
The Royal Bank of Canada was still issuing its own chartered bank notes in 1938 under the Dominion's Bank Act provisions, even though the Bank of Canada had begun monopolizing the right to issue notes in 1935. Chartered banks were permitted to continue circulating their own paper through a transitional period, but the clock was running — the Bank Act revisions of 1944 finally ended private bank note issuance in Canada for good, making this series among the last of its kind.
The dual denomination — five dollars expressed also as one pound ten pence — reflects lingering commercial ties to Britain and the Caribbean markets where Royal Bank operated extensively, particularly in the West Indies.