Catalog
1 Dollar
| Issuer | Zimmerman Bank, Elgin for a similar note issued in Clifton, see CANADA PS-2072 |
|---|---|
| Year | 1850 |
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| Value | 1 Dollar |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | PROVINCE OF CANADA The Zimmerman Bank ONE DOLLAR ELGIN INCORPORATED BY ACT OF PARLIAMENT FIFTY ONE MILLION DOLLARS On Demand |
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| Variants | S2067a - date 185x S2067b - date 1856 |
| Comments |
The Zimmerman Bank was a private commercial bank founded by Samuel Zimmerman, a contractor who made his fortune building sections of the Great Western Railway in Upper Canada. His banking operation was never formally chartered — it operated on the strength of his personal credit and business connections, which made these notes legally dubious instruments even at the moment of issue. Zimmerman himself died in the Desjardins Canal railway disaster of March 1857, and the bank collapsed shortly after.
The Elgin and Clifton branches (PS-2067 and PS-2072 respectively) were essentially the same plate with altered payable location text — a common and cost-saving arrangement among wildcat-era private issuers.