1 Dollar

The 1935 series was the Bank of Canada's inaugural issue, launched when the bank opened on March 11 of that year — Canada's first central bank, established partly in response to the financial instability of the Depression. Two signature combinations exist for this denomination because Osborne, the first Deputy Governor, signed alongside two different Governors during the transitional period of the bank's establishment.

The English and French language versions were printed as entirely separate notes rather than bilingual singles, a political accommodation that would eventually give way to fully bilingual issues. The French-text equivalent is P#38.