The transfer of the colony to the British after the Seven
Years War did little to change the face of currency in Canada.
Coins from different countries continued to circulate and
were accepted anywhere currency was needed. Copper tokens
of numerous types made up for the lack of small change in
circulation. With British rule came the banks and the issue
of bank notes. Bank notes gained popularity again following
the successful issue of Army Bills during the War of 1812.
Throughout the 19th century the banking industry flourished,
and hundreds of banks and merchants issued their own notes.
The success and profitability of issuing bank notes inspired
the government to participate. Little by little, laws were
passed and the right to issue bank notes was transferred from
the chartered banks to the government. |
