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5 Dollars
| Issuer | Bank of Toronto |
|---|---|
| Year | 1935 |
| Type | Standard circulation banknote |
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|---|---|
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| Reverse lettering | BANK OF TORONTO 5 5 CANADIAN BANK NOTE COMPANY, LIMITED |
| Signature(s) | Henwood and Lamb Marsh and Lamb |
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| Comments |
The Bank of Toronto, founded in 1855, never became a central bank — it remained a commercial chartered bank issuing its own currency under the Bank Act until it merged with the Dominion Bank in 1955 to form the Toronto-Dominion Bank. By 1935, however, that right was nearly spent: the Bank of Canada Act of that same year established the central bank and set in motion the gradual withdrawal of chartered bank notes from circulation, with redemption deadlines eventually killing the practice entirely.
The Canadian Bank Note Company in Ottawa handled the bulk of chartered bank printing by this period, having consolidated much of the market. This note sits at the very end of a century-long tradition of private Canadian currency issuance.