The Bank of Canada was established as a privately-owned institution, with shares sold to the public at a par value of $50. In 1938, all shares were then purchased by the Government of Canada, and the Bank became a Crown corporation. The Bank of Canada is the sole issuing authority of Canadian banknotes.
The Canadian Bank Note Company has held the contract to produce the banknotes since 1935. During World War II, the Bank of Canada’s nine victory Bond campaigns was raised to almost $12 billion for the war effort. Even after the war, the program was continued with Canada Savings Bonds.
Loonie Toonies
Canadians call their one-dollar coin the loonie. When in full production, 15 million loonies can be produced per day. The loonie derives its nickname from the picture of a solitary loon on the reverse side of the coin. Their two-dollar coin is called the toonie.
We guess they like to rhyme... The two coins are different in appearance, but similar in size, so be sure to double-check before plunking down a "buck."
A New Way to Police
Police officers in the city of Prince Albert, in the central province of Saskatchewan, will give out the "positive tickets" to youngsters who are seen crossing the road safely or picking up litter.
The rewards on offer include free hamburgers, cinema tickets, or a chance to see the local hockey team in action, all of which have been donated by local businesses. Now that's one way to promote a wholesome society!
The World's Smallest Jail
Canada has the world's smallest jail; this absolute distinction belongs to the jailhouse in Rodney, Ontario, which measures just 4.5 m by 5.4 m. The jails in Providence Bay, Port Dalhousie, and Berens River are also pretty small. The Coby Jail has 2-foot-thick limestone walls mined from the local quarry.
These, along with the iron bars, remain unchanged since the construction of the jail in 1884. Inside the jail were two cells, in addition to the warden's office, now isn't that quaint for a jail!
So Who is Ogopogo?
Forget the Loch Ness Monster: Canada has its own mysterious lake creature, Ogopogo, who reportedly lives in Lake Okanagan, British Columbia. This fierce lake monster resides at Squally Point and has inconclusively been spotted throughout the lake for centuries.
Descriptions vary, but certain characteristics have been repeated throughout the years: Ogopogo is green with a serpentlike body about 25 meters long. Many say its head looks like a horse, while others say that it’s reptilian or goat-like.