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History of the Bank of Nova Scotia 1832-1900
Note Circulation

THE note circulation of the Bank was ready for use as soon as the Bank opened its doors in August, 1832. The denominations were as previously indicated: £i.10s., £2, £2.10s., £5 and £10. The first three denominations were prohibited by the Act of T833, the following number having been put in circulation :

19,600 notes of £1.10s. = £29,400

9.800 notes of £2. = 19,600

9.800 notes of £2.10s. = 24,500

The last note of these three issues presented for redemption was destroyed on March 20th, r866, and unfortunately there are no specimens of the notes in existence. Lithographic copies of the other early notes are to be found in this volume. Part of the issue of £5 was printed with a head of Ceres in place of the horse’s head shown in the cut. It was found that the £10 note was not often required. On May 2nd, 1840, there were added four new denominations, viz.: £5.55., £6, £7 and £7.10s. ; the object of the odd shillings being apparently to make the notes more useful as a medium of change in those days of the scarcity of coin; but, as might be expected, there were not many used. The amounts printed of the larger denominations were as follows:

On January 1st, 1864, a fresh issue of £5 notes was made amounting to £r5,000, and it will thus be seen that the total amount of notes printed up to 1870 was £4T7,45o. Of all the issues above referred to there remain outstanding $15,109.93, and the notes are even at this late date occasionally presented for redemption — doubtless the result of the disturbance of some hoard.

In 1870 the tenor of the notes was changed from pounds to dollars, and the following issues made :

24.008 $4 notes of 1870, $ 96,032
24.008 $5 notes of 1870, $120,140

These notes were made payable in Nova Scotia currency.

Since ist July, 1871, when the currency was assimilated to that of the other Provinces of the Dominion, the following issues, not now in use, have been made:

The notes at present in use are: Tens, of July 2nd, 1877;

Twenties, of November ist, 1897; Fives, of June 1st, 1898; One Hundreds, of August ist, 1899; and One Pound and Five Pound Jamaica notes of January 2nd, 1900.

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