1935: The First Series

An act of Parliament in 1934 gave the Bank of Canada the exclusive responsibility to issue Canada’s bank notes. At that time, commercial banks also had the right to issue bank notes, but that right was phased out over the following decade.

The Bank officially opened for business on March 11, 1935. On the same day, it issued its first bank note series. It was really two issues because French and English versions of every denomination were produced—the only time this would occur.

The Bank’s first notes were designed by two security printing companies working with the federal government: the British American Bank Note Company and the Canadian Bank Note Company. Even for 1935, the notes weren’t modern in appearance but very much of a nineteenth-century aesthetic. The numbers, rosettes, frames and some of the vignettes were straight out of the security printers’ catalogues. It was the only series to feature royalty other than the reigning monarch. Seven members of King George V’s family appeared across the denominations. Prime ministers appeared on the two highest denomination notes—which are also the least commonly used. The words “Ottawa, Issue of 1935” appeared on all the notes.

On the reverse sides were allegorical figures symbolizing Canada's growing agricultural, industrial and commercial prosperity. The security features of the day included intricate fine-line patterns; easily felt raised ink; and small, randomly scattered green dots called planchettes. The $500 note was unique to this series, as was the $25, a commemorative note for the King’s silver jubilee—marking 25 years on the throne.

Explore each note

Commemorative notes