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    Army bills: Funding the War of 1812

    In 1812, British North America had no banks and little currency. With the prospect of war drying up supplies of coins, the government of Lower Canada decided to issue legal tender notes called “army bills” to pay for troops and supplies.

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    Needs or wants? That is the question!

    Do you need it, or do you want it? That’s an important question to ask before buying anything. This activity is designed to teach kids how to prioritize their needs and wants, and how to make informed choices when shopping.

    Teaching the green economy

    From windmills and solar panels to electric cars, signs of the green economy are all around us. Check out our resources for how to teach about the green economy.

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New Acquisitions

By: Paul S. Berry


June 23, 2015

Loan and Building Society Share Certificates

The Canadian financial system of today is diverse; it includes participants ranging from institutions like the Bank of Canada, chartered banks and credit unions, to markets and payment systems. A little known but once prolific system member was loan and building societies. These firms made loans for the construction or purchase of property against mortgages as collateral. They also held savings accounts for clients. Originating in Eastern Canada in the 1840s, loan and building societies gradually spread across the nation so that by 1905 there were 84 such firms in 5 provinces: British Columbia, Manitoba, Ontario, Québec and Nova Scotia. Along with insurance and trust companies, they dominated mortgage lending until 1954 when Canadian banks were allowed to loan money on real estate. Recently, the National Currency Collection had the good fortune to acquire share certificates from three such companies in Toronto. Their stories follow…

Certificate

The Freehold, Loan and Savings Co. share certificate, Toronto, 1881: 17 shares totaling $1700.00. (NCC 2014.51.1)

Located at the corner of Church and Court Streets, later at Adelaide and Victoria and finally Bay Street, The Freehold, Loan and Savings Company started business in 1859. It was a public company with a branch office in Winnipeg and a capital of $839,680 in 1885. In 1900, the company merged with several other firms to become the Canada Permanent Mortgage Corporation.

Certificate

The London & Canadian Loan & Agency Co. share certificate: 225 shares. “Fourteen percent whereof amounting to the sum of fifteen hundred and seventy five dollars.” (NCC 2014.52.2)

The London & Canadian Loan & Agency Company started business in 1873. Located at 44 King Street and later on Bay Street, by 1885 it had a paid up capital of $560,000. By 1901, this number had increased to $1,000,000. The President, Sir W. P. Howland, was a well-known Toronto businessman and politician. He served as Minister of Inland Revenue from 1867–1868 when he was appointed lieutenant governor of Ontario. In 1921, the company was taken over by the Canada Permanent Mortgage Corporation.

Certificate

The Union, Loan & Savings Co. share certificate, Toronto, 1897: 9 shares at $50 per share. (NCC 2014.52.3)

The Union, Loan &Savings Company was founded in 1863. During the 1870s its head office was located on Toronto Street beside the Masonic Hall. In 1900, it merged with the Building and Loan Association to become the Toronto Mortgage Company.

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Content type(s): Blog posts

The Museum Blog

June 16, 2022

Army bills: Funding the War of 1812

By: David Bergeron, Graham Iddon


In 1812, British North America had no banks and little currency. With the prospect of war drying up supplies of coins, the government of Lower Canada decided to issue legal tender notes called “army bills” to pay for troops and supplies.
Content type(s): Blog posts Subject(s): Economy, History
May 5, 2022

Between tradition and technology

By: Graham Iddon


Collage, man at an easel, paintings of birds and a goose illustration with comments written on it.
What was proposed was a complete about-face from the philosophy behind recent security printing. If photocopiers could easily deal with the colours and designs of the current series, then the next series should be bold and simple.
Content type(s): Blog posts
April 21, 2022

Teaching the green economy

By: Adam Young


From windmills and solar panels to electric cars, signs of the green economy are all around us. Check out our resources for how to teach about the green economy.
Content type(s): Blog posts Subject(s): Business and careers, Economy, Geography, Science, Social studies Grade level(s): Grade 07 / Secondary 1, Grade 08 / Secondary 2, Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
April 4, 2022

Talk to your kids about money

By: Heather Montgomery


Collage, ceramic pig on background of a bank book and a stamp folder with kids on it.
Introduce important financial skills to your children, and help them plan for their futures with free resources from the Bank of Canada Museum and others.
Content type(s): Blog posts Subject(s): Financial literacy Grade level(s): Early childhood / Kindergarten, Grade 01, Grade 02, Grade 03, Grade 04, Grade 05, Grade 06, Grade 07 / Secondary 1, Grade 08 / Secondary 2, Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
March 3, 2022

Teaching inflation during the COVID-19 pandemic

By: Heather Montgomery


COVID-19 has had an unprecedented effect on the economy: closing businesses, driving down demand and interrupting supplies. With news stories and popular culture addressing inflation and supply chain issues, now is the perfect time to explain this key economic concept to your high school students.
Content type(s): Blog posts Subject(s): Economy Grade level(s): Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
February 3, 2022

Queen of the bank notes

By: Graham Iddon


Few of us have ever met her, and it’s likely none of us are even remotely related to her. Yet, Canadians have carried her picture in their wallets for generations now. She’s Queen Elizabeth II and has been our monarch for over 70 years.
Content type(s): Blog posts Subject(s): History

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