5 Dollars

The 1935 Bank of Canada notes were the first ever issued by the institution, which had only opened in March of that year — a federally owned central bank created in direct response to the Depression-era collapse of provincial monetary coordination. P#43 is the English-language version; a French counterpart (P#44) was issued simultaneously, a bilingual parallel printing arrangement that was legally required under the Bank of Canada Act and would define the series from the outset.

G.F. Towers was the bank's inaugural Governor, signing here in his first year in office. The British American Bank Note Company produced the work entirely in Ottawa, making this a rare case of a first-series national issue printed domestically rather than contracted abroad.