50 Dollars

La Banque Nationale was a Quebec-based chartered bank, and its higher-denomination notes like this fifty were always slow movers in circulation — held by businesses and cleared quickly through the banking system rather than passing through many hands. That pattern, combined with the bank's eventual absorption into Banque Canadienne Nationale in 1924, means most surviving examples from this period were already near retirement when the merger rendered them obsolete.

The British American Bank Note Company printed for virtually every Canadian chartered bank of the era, working out of Ottawa. The S-prefix in the Pick reference reflects its chartered bank status, distinct from Dominion or Bank of Canada issues.