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5 Dollars (1 Pounds 10 Pence)
| Issuer | Royal Bank of Canada |
|---|---|
| Year | 1938 |
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| Composition | Cotton paper |
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| Obverse description | Green and grey note with the bank title 'THE ROYAL BANK OF CANADA' in bold lettering across the top. A central intaglio vignette presents a large ocean steamship underway at sea, framed by an ornate engraved border. The place and date of issue 'BRIDGETOWN BARBADOS JANUARY 3RD 1938' appear at lower left, with the dual denomination 'FIVE BARBADOS DOLLARS THE EQUIVALENT OF £1-0-10' at right, and the note stated redeemable only in Barbados. |
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| Reverse description | Printed in green on a light ground, the reverse is dominated by a large central intaglio vignette of the Royal Arms of the United Kingdom, supported by a lion and a unicorn on either side, with the motto ribbon 'DIEU ET MON DROIT' below. The dual denomination 'FIVE BARBADOS DOLLARS THE EQUIVALENT OF £1-0-10' is repeated in bold letterpress at both left and right of the arms. The bank name 'THE ROYAL BANK OF CANADA' appears in a panel at the foot, flanked by elaborate guilloche borders. |
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| Comments |
The Royal Bank of Canada was still issuing its own chartered bank notes in 1938 under the Dominion's Bank Act provisions, even though the Bank of Canada had begun monopolizing the right to issue notes in 1935. Chartered banks were permitted to continue circulating their own paper through a transitional period, but the clock was running — the Bank Act revisions of 1944 finally ended private bank note issuance in Canada for good, making this series among the last of its kind.
The dual denomination — five dollars expressed also as one pound ten pence — reflects lingering commercial ties to Britain and the Caribbean markets where Royal Bank operated extensively, particularly in the West Indies.