Before banks were established in remoteregions of Canada, paying employees involvedshipping currency long distances into wildand often lawless regions. The alternative tothis risky enterprise was for the company toissue its own money. Called scrip, this privatemerchant currency was redeemable forproducts at the company store and evenfrequently in the local economy.

Following the collapse of the 1837Rebellion in Upper Canada, its leader,William Lyon Mackenzie, fled with some ofhis supporters to New York State. He thenset up a "provisional government" on NavyIsland, a small island in the Niagara River.Mackenzie issued scrip when all othermeans of acquiring supplies failed. Thenotes were allegedly payable four monthsafter date at City Hall, Toronto, and werebased on nothing more substantial than thedream of a successful invasion of UpperCanada.

In a desperate bid to make hisscrip more appealing to the businesscommunity of Buffalo, Mackenzie had thesignature of David Gibson forged on thenotes. Gibson, a prominent and wealthyman, had been one of Mackenzie'ssupporters, but at the time the scrip bearing his name was issued, he was a hunted fugitive witha £500 bounty on his head. The forgery was in vain, for the notes never circulated to a significantextent. In fact, the scrip was ridiculed on both sides of the border.

To read the complete article, see page 83:
https://www.torontocoinexpo.ca/documents/
GB%20Auctions%20T.O.%20Coin%20Expo%20May%202025.pdf