2 Dollars - Caisse scolaire F.E.C. Montreal, Quebec

The Fédération des Éducateurs Catholiques — the F.E.C. — operated a network of school savings banks across Quebec in the early twentieth century, encouraging students to deposit small sums through their local caisse scolaire. These scrip-like certificates were internal instruments, redeemable within the school system rather than in general commerce, which is precisely why so few survived: they were never meant to leave the classroom.

The Montreal branch operating under F.E.C. supervision was among the larger urban nodes in that network. Material from the 1920 issue is genuinely uncommon — not because it was heavily circulated, but because ephemera of this kind was routinely discarded once redeemed.