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    Collage, man at an easel, paintings of birds and a goose illustration with comments written on it.

    Between tradition and technology

    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.

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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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Canada Financially Comes of Age

By: Paul S. Berry


October 2, 2018

The First War Loan, November 1915

War is expensive. When Canada entered the conflict against Germany and her allies in 1914, one of the first questions MPs of the Borden government probably asked themselves was, “How are we going to pay for this?”

Historically, Canada relied on revenues from excise taxes and import duties to fund government initiatives. From time to time, this amount was supplemented by the sale of bonds to banks and brokerage firms in London and New York. With the outbreak of war in 1914, access to the British markets was restricted. So, the British Treasury lent Canada money to fund wartime operations. At the same time, we raised custom duties at home and borrowed money in New York through the sale of bonds. However, these revenue streams were insufficient to meet rising costs, so the Canadian government adopted a novel course. In November 1915, Canada looked to its own citizens to shoulder the financial burden of what would become the First World War and offered Canadians its first domestic bond issue.

First World War public war bond certificate of $100, 1915

100 bond First War Loan, November 1915. Bond, $100, Canada, 1915 (NCC.2002.072.002)

coupon attached to a $100 war bond

A coupon from a $100 First War Loan bond would represent interest earned over a specified period of time. Bond owners clip them and exchange them for money at their bank. Bond, $100, Canada, 1915 (NCC.2002.072.002)

Writing after the war, Finance Minister Sir Thomas White noted the cynicism expressed in 1915 over the likelihood of raising even 5 million dollars through a Canadian public bond offering—let alone the 50 million that was sought. The First War Loan of November 1915, however, proved to be an unmitigated success. When the subscription books were closed, 100 million dollars had been subscribed—double what was originally hoped for! The excess, some 50 million dollars, was used as a credit for the British government to purchase supplies in Canada such as munitions and foodstuffs. This was the first occasion that Canada, or in fact any other Dominion in the Empire, had loaned money to the mother country.

First World War public war bond certificate of $500, 1916

A $500 bond Second War Loan, October 1916. The Duke and Duchess of Connaught, Canada’s governor general and his wife, are pictured on a bond issued just before he left office in November, 1916. Bond, $500, Canada, 1916 (NCC.2002.072.004)

A First World War public war bond certificate of $100, 1917

A $100 bond Fourth War Loan, December 1917. HRH King George V and Queen Mary are pictured on this bond. Bond, $100, Canada, 1917 (NCC.2015.039.001)

Subsequent bond issues proved even more successful and demonstrated that Canada, financially, had come of age. From 1915 and 1918 there were 5 domestic bond offerings in which Canadians pledged more than $1.7 billion. During those years, all other revenue sources combined amounted to only half that sum. Even income tax, introduced in 1918 as what was meant to be temporary measure, couldn’t raise anywhere near this amount.

First World War public war bond certificate of $100, 1918

A $100 bond Fifth War Loan, December 1918. Funds from this loan were meant to cover immediate post war costs including gratuities for returning vets. Bond, $100, Canada, 1918 (NCC.2006.048.002)

The First War Loan included bonds in denominations of up to $100,000. They matured in ten years and paid interest at 5 percent. This was in line with other commercial offerings to make the loans appealing to investors. The principal amount was repayable to buyers on December 1, 1925 (date of maturity) at any office of the Receiver General or Assistant Receiver General; interest was paid semi-annually on June 1st and December 1st at any chartered bank in Canada. Like bank notes, these bonds were printed by security printers on secure paper using special inks and decorated with intricate designs that were difficult to imitate. Patriotic images of flags, beavers, maple leaves and a view of the Parliament buildings grace the $100 bonds and make them among the most beautiful Canadian government financial instruments ever issued.

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Content type(s): Blog posts

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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
December 22, 2021

New acquisitions–2021 edition

By: David Bergeron


The Bank of Canada Museum is responsible for the National Currency Collection, and part of its mandate is to foster and develop that collection. Despite the challenges of collecting during a pandemic, curators at the Bank of Canada Museum have acquired some unique artifacts—including some that document the pandemic itself.
Content type(s): Blog posts
December 2, 2021

The true value of money

By: Graham Iddon


Photo collage, old bank notes and coins, gold nuggets and a computer component.
What is money—when you really stop to think about it? To understand how money works, and what it ultimately represents, we need to strip it down to its very basic function.
Content type(s): Blog posts Subject(s): Economy 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
November 16, 2021

The 1911 silver dollar

By: David Bergeron


In front of a set of coins in a case, two coins, one lead, one silver, each with identical wreaths of maple leaves.
The 1911 silver dollar has a history to match its prestige, and it now has a permanent home in the National Currency Collection of the Bank of Canada Museum.
Content type(s): Blog posts
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