5 Dollars

The Canadian Bank of Commerce was one of the few chartered banks still issuing its own notes into the 1920s, a practice that persisted in Canada until the Bank of Canada's monopoly took full effect in 1935. By 1922, chartered bank circulation was already shrinking — the Dominion government had been tightening its grip on small denominations since 1868, and the five-dollar note occupied contested ground between federal Dominion notes and private bank paper.

The American Bank Note Company's New York plant handled this series, as it did for much of Canadian chartered bank production in this period. ABNCo's relationship with Canadian banks was longstanding and commercially exclusive in ways that effectively locked out British printers despite the obvious imperial connection.