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1 Dollar/Piastre = 5 Shillings
| Issuer | Agricultural Bank, Toronto |
|---|---|
| Year | 1834-1835 |
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| Shape | Rectangular |
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| Obverse description | The obverse carries the bold serif heading AGRICULTURAL BANK at the top centre, with UPPER CANADA to the left and CANADA to the right. Large numeral 1 counters appear at the left and right margins, flanking a central vignette of a horse in profile, rendered in fine intaglio engraving. The promise-to-pay text reads payable at the Office in TORONTO, FIVE SHILLINGS Currency, for value received, TORONTO, with the issuing agent line reading Per Mays, Russell, Green & Co. |
|---|---|
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| Variants | S1551r - remainder S1551 - issued note (01.07.1835) |
| Comments |
The Agricultural Bank of Toronto was a short-lived private institution that collapsed in 1837, caught in the broader financial panic that swept North American banking that year. Notes from this issuer are rare survivors — most were redeemed, destroyed, or simply lost when the bank failed before establishing any meaningful reserve or redemption infrastructure.
The triple denomination — Dollar, Piastre, and Shillings — reflects the genuine monetary confusion of Upper Canada in the 1830s, where American dollars, Spanish piastres, and British sterling all circulated concurrently, and a bank issuing only one denomination would have limited its own utility.
Pick lists this as P#1551, placing it firmly in the private Canadian chartered bank issues predating Confederation by more than three decades.