10 Dollars Bank of Toronto

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.