50 Dollars

The 1935 Bank of Canada series was the institution's inaugural issue, the central bank having only been established by the Bank of Canada Act in 1934. Two parallel sets were printed simultaneously — one with English text, one with French — making this among the few Canadian series where denomination, design, and signatures are otherwise identical across linguistically distinct notes. P#51 is the French-language version.

Osborne served as the bank's first Deputy Governor; Towers was its founding Governor, appointed at just 37 years old. The high-denomination notes from this series saw limited public handling and were pulled from circulation relatively quickly as the 1937 series superseded them.