Page 18

This article and the images provided are courtesy of the Bank of Canada

INDUSTRY UPDATES

Canada’s new vertical $10 note “I’ll never forget this day—I can’t, it’s written in history!” Wanda Robson—the sister of social justice defender Viola Desmond, who appears on Canada’s new $10 bank note—was visibly emotional as the note’s design was revealed on March 8, 2018—International Women’s Day. Finance Minister Bill Morneau, Bank of Canada Governor Stephen S. Poloz, Ms Robson and Dr. John Young, president and CEO of the Canadian Museum for Human Rights, took part in the unveiling of the note in a ceremony at the Halifax, Nova Scotia Public Library. This new $10 bank note will be rolled out gradually, starting late this year and will circulate alongside the other $10 notes already in circulation. As the new regular $10 note it will be produced by the Bank of Canada for years to come. Once the note enters circulation it will mark the first time that an iconic Canadian woman is portrayed on a regularly circulating Bank of Canada note. The new $10 note is also the first vertically oriented note issued by the Bank of Canada, which allows for a more prominent image of Viola Desmond and differentiates it from the current polymer notes.

Equipment manufacturers The Bank of Canada has been working with financial institutions and bank note equipment manufacturers to minimize the impact of this note on the cash-handling industry. The new $10 note maintains the same suite of machine-readable features as the current polymer notes. The note is printed on the same substrate, the large transparent window is in the same position and the same size, and the opaque border of the window is maintained. To learn more about how the Bank of Canada works with the cash-handling machine industry, visit: www.bankofcanada. ca/cash-handling-machine-industry.

Security The Bank of Canada issues new bank notes 18

PAYMENTSBUSINESS

to stay ahead of counterfeiting threats and to keep pace with advances in technology. This new note includes some enhanced security features to help keep it safe from counterfeiting yet easy to use, ensuring that Canadians maintain trust and confidence in their money. “It is the Bank of Canada’s job to design, produce and distribute bank notes that Canadians can use with confidence and pride,” said Governor Poloz at the unveil event in Halifax. “Bank notes are designed to be not only secure and durable, but also works of art that tell the stories of Canada. I am confident that you will agree that this new $10 note fits the bill.”

The design Here’s a primer to get familiar with the new $10 note’s design ahead of its release: A successful Black Nova Scotia businesswoman, Viola Desmond defiantly refused to leave a whitesonly area of a movie theatre in 1946 and was subsequently jailed, convicted and fined. Her court case is one of the first known legal challenges against racial segregation brought forth by a Black woman in Canada. Viola Desmond was selected as the portrait subject for this new note by Minister Morneau following an open call to Canadians to nominate iconic Canadian women who could appear on the redesigned $10 bank note. An artistic rendering shows a map of Halifax as it appeared in 1951 when Viola Desmond lived and worked in the North End of the city. Members of this North End community were a great support to Viola Desmond as she challenged her criminal conviction. Canadian national symbols are presented

as metallic elements in and around the large transparent window on the note. The main element in the large window is based on the vaulted dome ceiling of the Library of Parliament. The Library of Parliament has been pictured on the $10 note since 1989. The back of the note carries Viola Desmond’s story into the present, with images and symbols that represent Canada’s ongoing pursuit of rights and freedoms. The Canadian Museum for Human Rights, which opened in Winnipeg, Man. in 2014, is the first museum in the world solely dedicated to the evolution, celebration and future of human rights. For many First Nations peoples in Canada, the eagle is believed to fly higher and see further than any other bird, and an eagle feather symbolizes ideals such as truth, power and freedom. On the $10 bank note, it is intended to represent the ongoing journey towards recognizing rights and freedoms for Indigenous peoples in Canada. Watch for the $10 note featuring Viola Desmond when it begins to circulate at the end of the year and visit www.bankofcanada.ca/vertical10 to see and learn more about the design and security features of this note. July/August 2018

Payments Business Magazine Jul/Aug 2018  
Payments Business Magazine Jul/Aug 2018