Five-Piece Merchant Scrip (5 Cents, 10 Cents, 25 Cents, 50 Cents, 5 Dollars; Grand River Pulp & Lumber Company Limited)

This five-piece collection of original uncirculated merchant scrip represents a rarely seen opportunity to acquire high-quality examples of some of Canada's early paper currency.  The collection includes five different notes issued by the Grand River Pulp & Lumber Company dating from 1902 to 1911. Denominations include five cents, 10 cents, 25 cents, 50 cents and five dollars. The notes were printed by T. C. Allen & Co. stationers of Halifax and are believed to be Newfoundland's only merchant scrip. Until recently, these notes were seldom seen with circulated examples selling for more than $1,000 per note. However, a descendent of the original owner of the company recently discovered a small group of these notes that had been stored for more than 100 years, making this fascinating history accessible for more collectors. 

Before banks were established in remote regions of Canada, paying employees involved shipping currency long distances into wild and often unruly regions. The alternative to this risky enterprise was for the company to issue its own money. This private merchant currency was called scrip and could be redeemed for products at the company store and even frequently in the local economy. When employees returned from the bush, they were able to redeem their scrip for cash at the company head office.

Established in 1900, the Grand River Pulp & Lumber Company operated a mill at Hamilton Inlet at the mouth of what is now the Churchill River near Goose Bay, Labrador. From 1902 to 1911, the company issued this scrip currency to pay their lumber workers. The denominations are each different colours and feature a central vignette of two lumberjacks operating a whipsaw.

About the Grand River Pulp & Lumber Company
Halifax lumberman Alfred Dickie applied to Newfoundland for a timber licence for his Grand River operation, however the Quebec government lodged a complaint, claiming it was on Quebec territory; they even went so far as to stamp Dickie's logs as Quebec lumber. Newfoundland refused to cancel the licence and a long, drawn-out border dispute ensued. Quebec and Newfoundland took the case to the British Privy Council in 1904, which finally ruled in Newfoundland's favour in 1927. 

Includes:
•  Five-Piece Merchant Scrip, Grand River Pulp & Lumber Co. Ltd

Warranty Information:
This product comes with a 30-day warranty through TSC.