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5 Dollars = 25 Shillings
| Issuer | Farmers' Joint Stock Banking Company |
|---|---|
| Year | 1849 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| In circulation to | Log in to see details |
| Reference(s) | P#S1765 |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | FARMERS' JOINT STOCK BANKING COMPANY, WILL PAY THE BEARER ON DEMAND TWENTY FIVE SHILLINGS CURRENCY AT THEIR OFFICE IN TORONTO FOR VALUE RECEIVED, TORONTO FEB. 1ST 1849, UPPER CANADA, ACT OF PARLIAMENT, AUTHORISED BY |
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| Variants | P#S1765a - I s s u e d n o te P#S1765b - Red overprint: KINGSTON |
| Comments |
The Farmers' Joint Stock Banking Company was a short-lived Upper Canadian institution, and this dual-denomination note — payable in both dollars and shillings — reflects the monetary awkwardness of the pre-Confederation period, when sterling and decimal currencies competed in everyday commerce. The £1 5s / $5 equivalence was standard at the colonial rate of 5 shillings to the dollar.
Rawdon, Wright, Hatch & Edson were among the most prolific security printers in North America at the time, and would merge into the American Bank Note Company just a decade later in 1858.