Catalog
5 Shillings / Chelins
| Issuer | Canada Banking Company, Montreal |
|---|---|
| Year | 1792 |
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| Currency | Pound sterling (1694-date) |
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| Obverse description | The obverse is executed in letterpress and copperplate engraving on laid paper, with an oval vignette at the upper left enclosing a landscape scene with a beaver beside a tree and water, considered among the earliest uses of this emblematic Canadian motif on paper currency. The text, rendered in ornate script, reads 'Canada Bank / We Promise to pay to the Bearer on demand Five Shillings Currency in MONTREAL' followed by a manuscript date of August 1792, and is countersigned 'For the Canada Banking Compy'. The lower portion carries the bilingual denomination 'Pour 5 Chelins' and a manuscript endorsement signature. |
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| Obverse lettering | Canada Bank We Promise to pay to the Bearer on demand Five Shillings Currency in MONTREAL the day of August 1792 For the Canada Banking Compy Pour 5 Chelins |
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| Comments |
The Canada Banking Company was not a bank in any chartered or regulated sense — it was a short-lived private merchant venture operating in Montreal, and its notes had no legal backing whatsoever. This 1792 issue predates the founding of the Bank of Montreal by nearly three decades, placing it among the earliest paper money attempts in what was then Lower Canada. The bilingual denomination — "5 Shillings / Chelins" — reflects the pragmatic reality of serving both English and French commercial communities in the city.
Survival rate is exceptionally low. The company collapsed quickly, and redemption was never guaranteed; most notes would have been worthless within years of issue. Fewer than a handful of examples are documented.