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| 正面描述 | The obverse is dominated by a central vignette of the Royal Arms of Canada flanked by a lion and a unicorn, with a classical female portrait in an oval intaglio vignette at the lower left and a perched eagle vignette at the lower right. The bank title 'THE BANK OF TORONTO' arches across the top in bold letterpress, with 'DOMINION OF CANADA' below it, and red serial numbers appear at left and right on the guilloche underprint. The denomination 'Five Dollars' is inscribed in script across the centre, with the date 'Toronto, 2nd Jan. 1935' and two manuscript signatures of the General Manager and President below. |
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| 背面铭文 | BANK OF TORONTO 5 5 CANADIAN BANK NOTE COMPANY, LIMITED |
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The Bank of Toronto, founded in 1855, never became a central bank — it remained a commercial chartered bank issuing its own currency under the Bank Act until it merged with the Dominion Bank in 1955 to form the Toronto-Dominion Bank. By 1935, however, that right was nearly spent: the Bank of Canada Act of that same year established the central bank and set in motion the gradual withdrawal of chartered bank notes from circulation, with redemption deadlines eventually killing the practice entirely.
The Canadian Bank Note Company in Ottawa handled the bulk of chartered bank printing by this period, having consolidated much of the market. This note sits at the very end of a century-long tradition of private Canadian currency issuance.