Canada mulled nixing Queen Elizabeth's successor from banknotes: documents
- Wall St. touches two-week high on deals, strong earnings
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Pre-Open Stock Movers 10/24: (BEAV) (JPEP) (HLT) Higher; (BAS) (INO) (ADRO) Lower (more...)
Britain's Queen Elizabeth leaves the annual Braemar Highland Gathering in Braemar, Scotland, Britain September 3, 2016. REUTERS/Russell Cheyne
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
By Ethan Lou
(Reuters) - When Canada was designing its current C$20 bill, it considered dispensing with its "tradition" of depicting the reigning British monarch if Queen Elizabeth dies or abdicates, internal documents from the country's central bank showed.
The issue of Elizabeth's potential death came up several times at the Bank of Canada between 2007 and 2015, according to documents obtained by Reuters in October under access-to-information laws.
The longest-reigning British monarch, Elizabeth appears on all standard Canadian coins, but only one banknote, the C$20 ($15) bill.
The 90-year-old Elizabeth, head of state of 16 Commonwealth countries including Canada, has reigned since 1952 and remains popular in the Northern American country. A recent visit to Canada by her grandson Prince William and his family drew enthusiastic crowds.
Still, not all the British royals appear so popular. A poll by Forum Research last year found more than half of Canadian adults do not want Elizabeth's oldest son and heir Prince Charles, who will ascend to the throne immediately upon his mother's death, as head of state.
In the documents, central bank staff working on the 2012 C$20 bill wrote that depicting the reigning British monarch was "a matter of tradition."
"In the event the Queen dies or abdicates before the new notes are issued, a decision will need to be taken as to whether to continue this tradition or to replace the image" with some other portrait subject, a 2008 policy advice paper read.
Staff were concerned about the increased costs and delays of reworking designs if the monarch changed before the design process was done, the documents showed.
While plans were made for subjects to replace Elizabeth, those were unclear as parts of the files were redacted.
Staff wrote in one document that candidates would need to be dead, and potential ones would be chosen based in part on a "public opinion poll."
Bank of Canada spokeswoman Josianne Menard said in an email the files represented only "contingency options" and staff's "due diligence," and what ultimately goes on a note is up to the country's finance department.
The department did not directly respond to questions on the matter, saying it was focused on previously announced plans to feature a Canadian woman on an upcoming banknote in the 2018 series.
"No other changes are being considered at this time," it said without elaborating.
Buckingham Palace, the official residence of Elizabeth that also handles queries for Charles, declined to comment.
(Reporting by Ethan Lou; Editing by Bernadette Baum)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ninth century library goes digital to reach wider audience
- Fed up with volatile prices, Turkish government steps in to help central bank
- Time to declare: Ukrainian anti-corruption reform faces threats
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!