10 Dollars

The Banque Canadienne Nationale was formed in 1924 through the merger of the Banque Nationale and the Banque d'Hochelaga — two of Quebec's older French-Canadian chartered banks. This 1929 issue arrived just as the Depression was about to devastate the institution's loan portfolio, particularly its heavy exposure to Quebec's agricultural and small commercial sectors. The bank limped through the 1930s before finally merging into the Banque Provinciale du Canada in 1924 — no, 1931.

Wait, I need to correct myself. Let me rewrite cleanly without an error embedded in the text.

The Banque Canadienne Nationale was formed in 1924 through the merger of the Banque Nationale and the Banque d'Hochelaga, two longtime French-Canadian chartered institutions. This 1929 issue landed almost precisely at the worst possible moment — the bank's exposure to Quebec's rural and small commercial borrowers made the Depression years punishing, and it survived only through considerable restructuring before eventually merging with the Banque Provinciale in 1979 to form the Banque Nationale du Canada.

Canadian chartered bank notes remained legal private currency until the Bank of Canada Act of 1934 began the process of withdrawal, giving these notes a surprisingly short remaining circulation window from the date of issue.