Catalog
2 Dollars
| Issuer | Agricultural Bank, Montreal |
|---|---|
| Year | 1841-1846 |
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| Shape | Rectangular |
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| Obverse description | The obverse presents a central vignette of a reclining allegorical figure surrounded by agricultural implements and produce, flanked by two octagonal numeral counters reading '2' at upper left and upper right, with a standing female figure in classical dress at the far right margin. Two smaller vignettes at lower left show a male figure and a '2 DOLLARS' counter, while the bank title 'THE AGRICULTURAL BANK' and the denomination 'Two Dollars' appear in bold letterpress across the centre. The heading 'LOWER CANADA' arcs across the top, with manuscript signatures of the Cashier and President at the lower centre, and a purple 'WORTHLESS' cancellation overprint applied diagonally across the face. |
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| Obverse lettering | DEUX LOWER CANADA THE AGRICULTURAL BANK Two Dollars MONTREAL 2 DOLLARS TWO Cash. Prest. |
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| Comments |
The Agricultural Bank of Montreal was a short-lived institution, chartered in 1837 and collapsed by 1847 — a casualty of chronic undercapitalization and the brutal credit conditions that swept through the Canadas in the wake of the 1837 financial panic. Notes issued during its final years circulated under increasing public skepticism, and redemption on demand was reportedly refused on multiple occasions before the bank finally ceased operations.
Printed locally in Montreal rather than sent to one of the established British security printers, the production quality reflects the limitations of colonial printing infrastructure in the 1840s. The Agricultural Bank never recovered from its early troubles, and surviving notes from this series are genuinely uncommon.