Bill of Exchange Fragments: The Canadian Bank of Commerce

The Canadian Bank of Commerce merged with the Imperial Bank of Canada in 1961 to form the Canadian Imperial Bank of Commerce (CIBC), now one of the Big Five Canadian banks.

 Reverse side of document fragment:

THE CANADIAN BANK OF COMMERCE

AUG

18

1900

front side of document fragment:

Seal of Canadian Bank of Commerce:

CANADIAN BANK OF COMMERCE - 1867

While the Canadian Bank of Commerce was in the business of facilitating international trade, in part through the example of the bill of exchange fragment above, the bank also played a significant role in the expansion of businesses to Canada's extensive western prairie regions.  Vestiges of that expansion remain:

Canadian Bank of Commerce National Historic Site of Canada

201 Main Street, Watson, Saskatchewan

General view of the Canadian Bank of Commerce, showing its neo-classical style, evident in its three-bay facade with classical decorative treatment, particularly the pedimented front gable with bulls-eye window and heavy dentilled cornice, fluted pilaster © Parks Canada Agency / Agence Parcs Canada, 1990.

Heritage Value

The Canadian Bank of Commerce was designated a national historic site in 1976 because of its prefabrication technology and the entrepreneurial imagination of the bank. The heritage value of this site resides in its historical associations with the expansion of eastern banks into the Canadian west as illustrated by the building’s physical characteristics.

The former Canadian Bank of Commerce (CBC) bank at Watson, Saskatchewan is the largest surviving example of the prefabricated bank buildings erected by the CBC in railway towns across the prairies. Designed by Toronto bank architects Darling and Pearson, and prefabricated in Vancouver by British Columbia Mills, Timber and Trading using a patented sectional wall system, the bank structures were shipped by railway to newly established towns and assembled within days. The neo-classical styling of these wood-frame buildings mimicked the stone and brick bank buildings of larger urban centres at a minimum cost, and projected the same air of respectability and confidence. By erecting these buildings quickly and early, the bank hoped to monopolize local trade. The use of three standard designs created by Darling and Pearson allowed the bank to convey a consistent and immediate impression of stability, at a minimum investment. Erected in 1906-07 using the largest of the three designs, the Watson Bank is the most intact example. While other banks also made use of prefab technology, it was the CBC that most fully exploited the potential of the prefab banks and made them enduring features of the western Canadian landscape.

Source: Historic Sites and Monuments Board of Canada, Minutes, June 1976.