4 Dollars

The Mechanics Bank of Montreal had a short institutional life — chartered in 1870, it collapsed in 1879 after a run on deposits exposed serious insolvency. Notes from its brief period of operation are consequently scarce, not because of low print runs, but because the bank's failure triggered rapid redemption and destruction of remaining currency by the liquidators.

The British American Bank Note Company, founded in Montreal in 1866, was by 1872 the dominant security printer in Canada, having absorbed much of the earlier work done by American firms. This note is among the early commercial commissions that established BABNC's reputation before it absorbed the Ottawa-based Canadian Bank Note Company's predecessor operations.

The $4 denomination, unusual today, was commonplace in pre-Confederation and early post-Confederation Canadian private banking, driven partly by the old Halifax Currency system and partly by the practical need to produce a note exchangeable for the Spanish milled dollar at a convenient ratio.