Catalog
10 Dollars Bank of Toronto
| Issuer | Bank of Toronto |
|---|---|
| Year | 1935-1937 |
| Type | Local banknote |
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| Obverse description | The upper portion carries the bank title 'THE BANK OF TORONTO' and 'DOMINION OF CANADA' in bold intaglio lettering, with denomination numerals '10' and 'TEN' at opposing corners. The central vignette presents the Arms of Toronto flanked by two allegorical figures — a Native warrior to the left and Britannia to the right — above a ribbon bearing the motto 'INDUSTRY INTEGRITY INTELLIGENCE', while an oval vignette to the left encloses a beaver amid maple foliage within a wreath and a steam locomotive with train cars occupies a landscape vignette to the right. The overall design is executed in fine intaglio engraving with ornate decorative borders. |
|---|---|
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| Reverse lettering | X BANK OF TORONTO X CANADIAN BANK NOTE COMPANY, LIMITED |
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The Bank of Toronto was absorbed into the Toronto-Dominion Bank in 1955, but this series predates that merger by two decades. By 1935, Canadian chartered banks were operating under the revised Bank Act provisions that would, within a few years, dramatically curtail their private note-issuing privileges — the Bank of Canada having opened in 1934 specifically to centralize that function. These chartered bank issues from the mid-1930s are among the last of a genuinely competitive private currency tradition stretching back to Confederation.
The Canadian Bank Note Company produced this in Ottawa, where the firm had operated since the early twentieth century as one of two dominant security printers serving Canadian financial institutions.