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Printed in black intaglio on white paper, the obverse carries a fine guilloche border with a repeating 'TWENTY 20 TWENTY' marginal underprint. The central field presents the Canadian royal coat of arms within an ornate engraved vignette, flanked by bust-length portrait medallions of the General Manager at left and the President at right. The bank title 'THE ROYAL BANK OF CANADA' arches across the upper register above the promise text, with 'TWENTY DOLLARS' in bold letterpress at the base and the serial number and prefix letter printed in red. |
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Executed entirely in blue intaglio, the reverse is centred on a large engraved vignette of the British royal coat of arms with lion and unicorn supporters and the motto 'DIEU ET MON DROIT' on a ribbon below. Two circular guilloche rosettes bearing the numeral '20' are positioned at left and right of the arms, with 'TWENTY DOLLARS' in bold lettering at the base. A repeating 'TWENTY 20 TWENTY' pattern frames all four borders, and 'THE ROYAL BANK OF CANADA' arcs across the upper margin above the printer's imprint at the foot. |
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The Royal Bank of Canada's 1935 series was produced against a backdrop of genuine institutional anxiety — Canadian chartered banks were losing their note-issuing privilege under pressure from the newly created Bank of Canada, established that same year. This note is among the last generation of privately issued Canadian currency, a right the chartered banks would formally surrender in 1950.
British American Bank Note Co. held long relationships with most of the major Canadian chartered banks and printed this series at their Ottawa plant. Dobson served as President of the Royal Bank at the time of issue; Neill was General Manager.