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    A diverse group of 4 young children playing a board game.

    Playing with Economy

    There might be only a handful of basic game formats, but there is an infinity of variations—a surprising number of which require the skills we need to manage our daily economic lives.

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    Money: Past, Present and Future

    Explore the history of money in Canada and around the world using an inquiry approach.

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    Ever wondered who decides what goes on Canadian coins or bank notes? Or why our coins have certain names and our notes are different colours? Use this guide to help answer some of your money-related questions!

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Boer War Siege Money

By: Graham Iddon


January 24, 2019

Or Col. Baden-Powell does his best

Colonel Robert Stephenson Smyth Baden-Powell was a British Army officer who commanded troops stationed in the South African town of Mafeking (now Mahinkeng) during the Second Boer War, also known as the South African War. From October 1899 to May 1900, the town was surrounded by a force of Boer (Dutch South African) fighters. Soldiers, men, women and children would endure a 217-day siege with food rationing and regular risks to life and limb. Under martial law, the 5,500 Mafeking civilians were kept to a strict, semi-military agenda—no one was exempt. Even the children played a role, the boys carrying messages between officers in the town. The conditions were harsh and Mafeking was bombarded daily—except on Sundays. The Boers were strict observers of the Sabbath.

As in any siege, Mafeking quickly began to run short of most things, not the least of which was currency. People generally hang onto their coins during sieges (called hoarding). With so little cash in circulation, Baden-Powell had resorted to issuing emergency paper money in the new year. The notes were even legally supported. The local army paymaster, Captain H. Greener, wrote £5,228 in cheques to the Standard Bank of South Africa, backing every issue of notes. Once there was a return to civil law, this siege money could then be exchanged for cash at the Standard Bank, where funds would already be in place.

1-shilling voucher from the Siege of Mafeking

“Issued by the authority of Colonel R.S.S. Baden-Powell…And will be exchanged for coin at the MAFEKING BRANCH of the STANDARD BANK on the resumption of Civil Law.” 1-shilling siege note, Mafeking, South Africa, 1900

a 10-shilling note with a hand-made woodcut print of soldiers and field guns

Some of the printing may have been done under heavy bombardment, which might explain the spelling mistakes on certain notes. The “d” is missing from “Commanding” in the bottom right of this note. 10-shilling siege note, Mafeking, South Africa, 1900

Five denominations of notes were printed by Townsend & Son in an underground space nicknamed “the Mafeking Mint.” The one-, two- and three-shilling notes were simply coupons for use in canteens that distributed rations of rough oat bread and horse meat.

Baden-Powell took a personal interest in the 10-shilling and one-pound notes. He drew the design of the one-pound note onto the head of a croquet mallet. A craftsman then carved the design into the wood. Dissatisfied with the results, Baden-Powell used the croquet mallet woodcut to print the 10-shilling notes and drew a far more detailed (and amazingly competent) image that was photographically reproduced for the one-pound notes.

a one-pound note in blue showing soldiers, a woman and a cannon with a Union Jack overhead

The Baden-Powell drawing on this note shows the cannon “Wolf” that soldiers built from an old steel pipe. 1-pound siege note, Mafeking, South Africa, 1900

The notes successfully circulated throughout the siege. But, afterward, a curious thing happened: almost nobody cashed them in. Edward Ross, Mafeking’s auctioneer, predicted, “I am sure they will be worth much more than face value as curios after the siege…” And so they were. Only a mere £638 worth were ever redeemed at the Standard Bank, leaving a whopping £4,590 on credit. In today’s money, that is nearly $800,000. This expensive loose end would dog Baden-Powell until it became an issue in the House of Commons. The Standard Bank eventually repaid the money to the army paymaster in 1910.

The upstanding and ever-resourceful Baden-Powell was praised for his imaginative tactics in holding off the enemy during the siege. Under his command, the people of Mafeking survived with only modest casualties until British soldiers arrived in the spring of 1900 to drive out the Boers. At home, Baden-Powell became a national hero for his actions, romanticized by an adoring press. However, it has since been debated whether he needed to hold out for so long or whether his defiant stand was even necessary. Military authorities of the day were not pleased that he had made no attempt to break out of Mafeking. Though he was a gifted and inspired leader, attack did not appear to be Baden-Powell’s forte. In a later battle, he again allowed himself to be besieged and the army quietly withdrew him from active service.

While in Africa, Baden-Powell wrote a training book on military reconnaissance and scouting (Aids to Scouting) that became a bestseller in Britain. In 1908 he wrote a similar book called Scouting for Boys that was said to be inspired by the role young boys played in the siege. In England, he organized big camping adventures to test his ideas of applying military scouting and woodcraft practices to youth training—and the Boy Scouts was born. Nearly simultaneously, Baden-Powell, his wife and his sister also launched the Girl Scouts. Baden-Powell’s theories of “good citizenship through woodcraft” spread around the world. The various editions of his book sold more than 100 million copies worldwide. And Baden-Powell became a legend.

early colour photo, 3 boy scouts in front of Parliament

Boy Scouts from Newfoundland visit their new national seat of government during an Ottawa jamboree in 1949. A. Beaver, Library and Archives Canada, e010948819

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February 26, 2021

Playing with Economy

By: Graham Iddon


A diverse group of 4 young children playing a board game.
There might be only a handful of basic game formats, but there is an infinity of variations—a surprising number of which require the skills we need to manage our daily economic lives.
Content type(s): Blog Subject(s): Education
January 4, 2021

Economic Opportunity Costs

By: Graham Iddon


Man in a superhero costume crouching in an aisle of a home renovation warehouse.
With his superpowers, Peter Parker would no doubt do a fabulous job of tiling his kitchen backsplash. But as Spider-Man, he has more valuable things to do with his time.
Content type(s): Blog Subject(s): Education
November 30, 2020

How Many Groats Are in a Noble?

By: Graham Iddon


For daily users of modern money, getting an understanding of the old British system of currency can be an act of confusion and wonder. But it’s also a peep into 13 centuries of European numismatic history.
Content type(s): Blog Subject(s): Collection, History
November 27, 2020

Understanding Money: Common Questions

By: Nathan Sells


Ever wondered who decides what goes on Canadian coins or bank notes? Or why our coins have certain names and our notes are different colours? Use this guide to help answer some of your money-related questions!
Content type(s): Blog Subject(s): Education
November 2, 2020

Teaching Economics During the COVID-19 Pandemic

By: Adam Young


Authentic, teachable moments show students how the Bank of Canada is helping the economy navigate the COVID-19 pandemic.
Content type(s): Blog Subject(s): Education
October 21, 2020

The Story Behind the Engraving

By: Graham Iddon


The men on the back of this bill were part of a small community of families, a summer hunting camp called Aulatsiivik on Baffin Island.
Content type(s): Blog Subject(s): Collection, History
October 5, 2020

If I Had a Million Dollars…I’d Be Reasonably Well Off

By: Graham Iddon


When the Barenaked Ladies released “If I Had a $1,000,000,” they could have considered themselves reasonably rich. And today? Well, there’s this inflation thing…
Content type(s): Blog Subject(s): Education, History
July 16, 2020

Johnson’s Counterfeits

By: David Bergeron


Johnson’s entire family, two girls and five boys, was involved in the counterfeiting operation: dad made the plates, the daughters forged the signatures and the boys were learning to be engravers.
Content type(s): Blog Subject(s): Collection, History
June 29, 2020

The Reluctant Bank Note

By: Graham Iddon


Among 1975 $50 bill’s various design proposals were three images, three thematic colours and even three printing methods.
Content type(s): Blog Subject(s): Collection, History
June 11, 2020

Nominating an Icon for the Next $5 Bank Note

By: Graham Iddon


Using a Bank of Canada Museum lesson plan, nearly 200 students told us who they thought should be the bank NOTE-able Canadian on our new $5 bill.
Content type(s): Blog Subject(s): Education
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