2 Dollars Treasury Note

Newfoundland remained a self-governing Dominion in 1920, and its government issued treasury notes directly rather than through a chartered bank — an arrangement that reflected both the island's small commercial banking infrastructure and its stubborn fiscal independence from Ottawa. The relationship with the American Bank Note Company was longstanding; ABNC had printed Newfoundland government paper since the nineteenth century.

The 1920 series appeared just over a decade before Newfoundland's Commission of Government period, during which the Dominion surrendered responsible government entirely in response to insolvency. Notes from this earlier era are sometimes overshadowed by that later crisis, but they predate it by twelve years and circulated in genuinely ordinary commerce.

P#A15 is scarce in any grade above Fine.