Unveiling the Bank of Canada Museum to the World
Well, to a chunk of it anyway. Every year the conference of the International Federation of Finance Museums (IFFM) draws museum directors from five continents to a get-together aimed at sharing best-practices and keeping up with the latest trends in the world of financial museums. Many of the delegates had been following our progress at the Bank of Canada Museum over the past four years, and there was a level of anticipation this year, because they knew I was going to talk to them about our opening and our experience to date.
This year was the Bank’s first opportunity to attend the conference with a museum in fully-operational mode back home, something which gave me the opportunity to step onto the stage as a featured speaker, offering the Bank’s perspective on what our teams accomplished. The presentation was met with enthusiastic interest.
From Paris to Mexico City; Museum Directors Need to Know
Philippe Gineste, Director of CitéCo (Cité de l’Économie et de la Monnaie) in Paris, set to open in 2019, took me aside early on to ask me about the pitfalls and opportunities the Bank of Canada had faced putting together our Museum. His interest was more than passing; his team at CitéCo is gearing up for a full year of trying to get all the myriad things they need done, done. He was happy to know we would offer the benefit of our experience whenever he wanted.
Philip List, Director of the host museum Erste Financial Life Park in Vienna, was happy to compare notes, given that he had just completed a similar museum earlier this year.
Silvia Singer, CEO of the Museo Interactivo de Economía in Mexico City, one of the early inspirations for the new Bank of Canada Museum, told me enthusiastically that she was planning to get to Ottawa as soon as possible to see for herself.
A Conference About Museums’ Place in Economic and Financial Literacy
For the past four years now, the Bank of Canada Museum has been a member of the IFFM, an organization promoting the work of financial and central bank museums from North, Central and South America, Europe, Asia and Africa. The October conference featured numerous presentations and workshops covering different aspects of the members’ work, as well as some lively debates on the state of financial and economic literacy in the world.
Retaining the landscape format but showing human activity and intervention transformed the imagery into an extended portrait of Canada and Canadians.
During World War Two, the Bank created the Foreign Exchange Control Board (FECB). One of its major tasks was to find as many US dollars as possible to pay for American imports.
Economic bubbles continued to pop up regularly throughout history, and still do today.
In heritage conservation, broken metal objects can be reassembled with an adhesive most commonly used for repairing glass and ceramics.
Used extensively in the 19th century, this type of hand-operated press printed secure financial documents using the intaglio method.
How on earth did an “S” with a line or two through it come to represent a dollar? Any ideas? No? That’s OK, you’re in good company.
In 1977, the Royal Canadian Mint wanted to reduce the size of the penny in response to the rising price of copper. Little did the Mint know that the Toronto Transit Commission’s reaction would force the cancellation of the program.
The printing firms’ design teams went to work and came back with a surprising result: vertical notes.
The life expectancy of a two-dollar paper note was about a year. But coins can last for more than 10 years.
Successfully counterfeiting a bank note in the mid-19th century required an engraver with reasonably high talent and very low ethics.