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Bilingual note with the bank title BANQUE CANADIENNE NATIONALE across the top. A central allegorical vignette in intaglio presents a classical group of three female figures, one bearing a staff with a caduceus, set against an architectural backdrop. Portrait medallions of two bank officers appear at the left and right margins, flanked by ornate guilloche underprint panels and green numeral-V ciphers; the obligation text appears in English on the left (WILL PAY TO BEARER ON DEMAND) and in French on the right (PAIERA AU PORTEUR SUR DEMANDE), with the date Montreal, Feb. 1st 1925 printed in red alongside matching serial numbers. |
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Printed in a rich green intaglio, the reverse is dominated by a large oval cartouche at centre enclosing the Canadian arms with provincial shield surround, set within an elaborate scrollwork and acanthus-leaf framework. Large numeral 5s appear in the corners against intricate lathe-work guilloche grounds, and the bank title BANQUE CANADIENNE NATIONALE is lettered in bold serif type along the lower border. |
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The Banque Canadienne Nationale was itself only two years old in 1925, formed by the 1924 merger of the Banque Nationale and the Banque d'Hochelaga. This note is among the earliest issued under the consolidated institution's name, printed before the bank had fully standardized its visual identity across denominations.
Canadian chartered bank notes remained legal private currency until the Bank of Canada Act of 1934 forced the gradual withdrawal of all chartered bank issue — BCN notes were fully retired by 1950. Survivors in any grade are underrepresented in collections relative to the major English-Canadian banks, partly because BCN's circulation was concentrated in Quebec and its notes saw harder use.