Canadian Pound

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Canadian Pound

The currency of the Province of Canada prior to 1858. Initially, the pound was based on the Spanish dollar, making it worth somewhat less than the British pound. In 1853, Canada adopted the gold standard as part of a larger policy to encourage trade with the United States without alienating the United Kingdom. Like the British pound at the time, the Canadian pound was divided into 20 shillings or 240 pence.

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