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5 Dollars
| Issuer | Canadian Bank of Commerce |
|---|---|
| Year | 1935 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | THE CANADIAN BANK OF COMMERCE WILL PAY 50 BEARER ON DEMAND FIVE DOLLARS TORONTO, 2ND JUNE, 1935 5 |
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| Variants | P#S970a - Signature J. Aird and S. H. Logan P#S970b - Signature S. H. Logan and A. E. Arscott |
| Comments |
The Canadian Bank of Commerce was one of several large chartered banks still issuing their own Dominion-authorized notes in 1935 — a practice that would effectively end with the Bank of Canada Act of that same year. The new central bank began operations in March 1935, and while chartered banks were not immediately stripped of their note-issuing rights, the writing was clearly on the wall. Issues dated 1935 are therefore among the last of an unbroken private note-issuing tradition stretching back to the bank's founding in 1867.
The Canadian Bank Note Company in Ottawa produced the series. Chartered bank notes from this transitional period are sometimes found with light handling — they circulated briefly before the Bank of Canada's own notes displaced them in commerce.