4 Dollars

The Bank of Upper Canada was the dominant chartered bank in the province through the mid-nineteenth century, closely tied to the Family Compact and the colonial administration in Toronto. By 1859 it was already showing signs of the institutional decay that would end in its failure in 1866 — one of the more consequential bank collapses in pre-Confederation Canadian financial history, leaving creditors and noteholders substantially short.

The 4-dollar denomination is an artifact of the pre-decimal transition period. Canada adopted decimal currency in 1858, but chartered banks continued issuing notes in mixed denominations that bridged old and new accounting habits. A 4-dollar note represented exactly one pound Halifax currency, a conversion rate that still mattered to merchants keeping dual ledgers.

ABNC's New York engraving work on Canadian chartered bank paper of this period is generally of high quality and consistent execution.