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5 Dollars
| Issuer | Bank of Montreal |
|---|---|
| Year | 1938 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Canadian Dollar (1858-date) |
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| Obverse description | Black intaglio print on white paper with a fine numerical guilloche border bearing repeated fives along all edges. Two oval portrait vignettes flank the centre — a three-quarter facing bust of a male figure at left and a profile bust at right — separated by a central heraldic vignette of the Bank of Montreal coat of arms. The denomination FIVE DOLLARS is inscribed on a solid black band across the centre, with BANK OF MONTREAL and WILL PAY TO BEARER ON DEMAND above, and the date MONTREAL, 3RD JANUARY 1938 below the arms. Red serial numbers appear in the upper field, with plate letter A at each side, and large ornamental V numerals occupy the lower corners above the facsimile signatures. |
|---|---|
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| Signature(s) | Jackson Dodds and C.B. Gordon G.W. Spinney and C.B. Gordon |
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| Comments |
The Bank of Montreal's 1938 series was among the last batch of privately issued Canadian chartered bank notes ever produced. The Bank Act revision of 1944 effectively ended the chartered banks' right to circulate their own currency, making this and its contemporaries the final chapter of a system that had operated since the early nineteenth century. The Bank of Montreal, as Canada's oldest chartered bank, had been issuing its own notes since 1817.
C.B. Gordon served as President of the bank during this period, his signature appearing alongside General Manager Dodds. Notes from this run were still technically legal tender until the privilege was phased out, but most were withdrawn quickly once the Bank of Canada assumed full circulation control.