Canada, Upper Canada Bank, 1 Penny – 1854

Description

The Bank of Alto Canada was established in 1821 with important links with the region government. In the beginning, he acted as a monopoly, avoiding the opening of other banks to increase their benefits. This situation was reduced in a certain way with the appearance of the Commercial Bank in 1832, but would not definitively do so until the entrance of the Montreal Bank in the region, after buying the town bank. After this, the Bank Change of Strategy, becoming the Official Bank of the Province of Canada. This issuance of chips, therefore represents the “official” issuance in this province. In 1863 the Bank would enter financial difficulties, and in 1866 it broke generated great losses to shareholders and taxpayers.