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5 Dollars
| Issuer | Bank of Canada |
|---|---|
| Year | 1935 |
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| Composition | Log in to see details |
| Size | 190 x 92 mm |
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| Obverse description | The obverse is printed in black on white paper with orange-red numerals and serial number. A portrait vignette of King George V in military uniform occupies the left portion, set within an oval frame. The centre carries a large numeral '5' within an ornate guilloche roundel, flanked by the denomination inscriptions 'FIVE DOLLARS' at the foot, with the issuer's name 'THE BANK OF CANADA' and the promise clause 'WILL PAY TO THE BEARER ON DEMAND' printed above; the legend 'OTTAWA ISSUE OF 1935' appears at the top margin. |
|---|---|
| Obverse lettering | THE BANK OF CANADA WILL PAY TO THE BEARER ON DEMAND OTTAWA ISSUE OF 1935 FIVE DOLLARS FIVE FIVE 5 BRITISH AMERICAN BANK NOTE CO LTD OTTAWA |
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| Comments |
The 1935 Bank of Canada series was the first issue produced after the Bank's establishment that same year — Canada had operated without a central bank until then, relying on chartered commercial banks to issue their own notes. The transition was abrupt by international standards, and the new notes had to simultaneously establish institutional credibility and replace a deeply entrenched private system.
Two versions of each denomination were printed for this series: one in English and one in French. P#42 is the English-language note; the French counterpart, P#43, is the scarcer of the pair. Osborne served as the Bank's first Deputy Governor; Towers was its founding Governor, a position he held until 1954.