By James Powell
The Canadian greenback historical past. comprises colour and b/w images, descriptions and charts from the 1st countries 1600-1850 to present forex. a great precis of the historical past of the Canadian buck. desk of Contents on moment web page lists sections lined during this replica.
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Extra info for A History of the Canadian Dollar
Even after its closure, the Bank continued to issue bank notes. With notes the first charge on the Bank’s assets, note holders were well protected from loss. Depositors, however, received only 17 1/2 cents on the dollar. 5 million. Weir was subsequently prosecuted and went to jail for two years. It took a jury just 15 minutes to convict him. ) 30 A History of the Canadian Dollar With the discount on silver relative to gold widening in the mid-1860s, there were appeals to Parliament to do something.
S. counterpart throughout the war years (Chart 2). 84 in 1920. The weakness of the currency reflected a A History of the Canadian Dollar 39 significant monetary expansion, high inflation, and a deterioration in Canada’s balance of payments associated with financing the war effort and the ensuing cost of troop demobilization (Shearer and Clark 1984, 282; Knox 1940). Setting the stage for a return to the gold standard There was a general presumption that, after the war, the major industrial countries would return to the gold standard.
5 to 3 per cent were available on advances secured by certain securities. S. S. 67. ” Editorial cartoon by Arthur Racey, Montreal Star, October 1932 46 A History of the Canadian Dollar notes in circulation by reducing their gold backing to 25 per cent did not have much impact on the Canadian dollar. In the economic circumstances of the time, and given similar developments in the United States, this move was viewed as appropriate and elicited little market reaction (Bryce 1986, 143). S. counterpart by 1934 (Chart 3) and, at times, even traded at a small premium.