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20 Dollars
| Issuer | Merchants Bank of Canada, Montreal |
|---|---|
| Year | 1907 |
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| Reference(s) | P#S1162 |
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|---|---|
| Obverse lettering | THE MERCHANTS BANK OF CANADA CHARTERED BY ACT OF PARLIAMENT WILL PAY TO THE BEARER ON DEMAND TWENTY DOLLARS 20 MONTREAL, JUNE 1ST 1907 COUNTERSIGNED |
| Reverse description | Printed in dark green, the reverse presents an elaborate guilloche border composed of three large rosette medallions each bearing the numeral 20, enclosing a central intaglio scenic vignette of a pastoral landscape with trees and cattle at rest. The bank name THE MERCHANTS BANK OF CANADA is distributed within the lathe-work framework across the upper and lower registers of the design. |
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| Comments |
The Merchants Bank of Canada was one of the older chartered banks in the country, tracing its roots to the 1860s — but it would not survive the following decade after this note was issued. The bank collapsed in 1922 in one of Canada's most damaging chartered bank failures, wiping out shareholders and triggering parliamentary debate that directly accelerated the move toward tighter federal banking supervision.
ABNC printed the bulk of Canadian chartered bank issues from their New York facilities during this period, supplying engraved plates to dozens of institutions simultaneously. The Merchants Bank series shares production characteristics with several contemporaries, which occasionally causes attribution confusion in mixed lots.