Commercial Bank Note reduced from $10 to $2, post-1894
Shortly after the bank crash on 10 December 1894, the Newfoundland and Labrador government guaranteed all Commercial notes for 20 per cent of their original value and all Union notes for 80. The Commercial note pictured here bears a government stamp reducing its value from $10 to $2.
Image courtesy of National Currency Collection, Currency Museum – Bank of Canada. Photo by Gord Carter, Ottawa. (1964.0088.00413.000)