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10 Dollars
| Issuer | Farmers Bank of Canada |
|---|---|
| Year | 1907 |
| Type | Standard circulation banknote |
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| Obverse description | The obverse is engraved in a classical Canadian chartered bank style, with the denomination numeral '10' in large counters at upper left and right corners within ornate guilloche frames. A central vignette occupies the upper portion, presenting a pastoral scene with a flock of sheep and cattle in a rural landscape setting. The issuer's name 'THE FARMERS BANK OF CANADA' is set in bold letterpress across the centre, with the place and date of issue 'Toronto, Jan. 2nd 1907' above, and the obligation text 'WILL PAY TO THE BEARER ON DEMAND TEN DOLLARS' below the bank name. |
|---|---|
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| Reverse description | The reverse is essentially unprinted, presenting a plain off-white cotton paper surface with the obverse design visible in ghost impression through the sheet. No distinct vignette or lettering panel is present, consistent with the simple reverse format typical of early twentieth-century Canadian chartered bank issues. |
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| Comments |
The Farmers Bank of Canada was chartered in 1904 but didn't open its doors until 1906, and it collapsed spectacularly in 1910 — one of the more embarrassing failures of the Dominion's chartered banking era. The bank operated for barely four years, leaving depositors short and liquidators with very little to distribute. Notes from the entire series are scarce precisely because the issuing window was so narrow.
Under the Bank Act, Canadian chartered banks were liable for their outstanding circulation even in failure, but the Farmers Bank's winding-up was protracted enough that redemption was uncertain for some time. The 1910 collapse prompted parliamentary scrutiny that fed directly into the banking reform debates of the following decade.