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1 Dollar = 5 Shillings
| Issuer | St. Lawrence Bank and Lumber Company |
|---|---|
| Year | 1837 |
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| Shape | Rectangular |
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| Obverse description | Central vignette of a lumber mill with a waterway and mountainous landscape in the background, flanked by two oval medallic "1" counters on each side. The issuer name ST. LAWRENCE BANK AND LUMBER COMPY is inscribed in bold letterpress across the centre, with the date Midway, Lower Canada 25 May 1837 in manuscript at upper left. |
|---|---|
| Obverse lettering | ONE DOLLAR ST. LAWRENCE BANK AND LUMBER COMPY REAL ESTATE PLEDGED ONE FIVE SHILLINGS ONE MASTER Will pay or bearer on demand |
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| Comments |
The St. Lawrence Bank and Lumber Company was one of dozens of short-lived Upper Canadian commercial ventures that issued scrip during the Free Banking chaos of the late 1830s. Whether it functioned as a genuine bank or primarily as a company payroll instrument for lumber camp workers is a reasonable question — the dual denomination (Dollar and Shillings) reflects the awkward monetary bilingualism of pre-Confederation Canada, where American dollars and British sterling circulated simultaneously and conversion was a daily negotiation.
Underwood, Bald, Spencer & Hufty — note the correct spelling — were among the most prolific American security printers of the period, producing notes for hundreds of issuers across the northeastern states and Canada.