1908 Farmers Bank of Canada $5 Note

The Farmers Bank of Canada had a very brief and disgraceful career, failing disastrously in 1910. It was grossly mismanaged, and violated the Bank Act from its beginning. Funds were lost in silver mine speculation which ought to have been used for proper banking activities. Its failure was the subject of a parliamentary investigation.

The bank issued a range of notes from $5 through $100 in 1907-08, including an unusual and attractive $25 denomination. All notes issued by the bank are very rare, and only the $5 is available at all (at a hefty price) to the collecting public. Other denominations such as still survive are permanently located in institutional collections.

Notes of the bank are still redeemable, having been guaranteed by the Bank Note Redemption Fund established under the 1891 revision of the Bank Act.

Contributor: RJG

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