The pound was the currency of New Brunswick

New Brunswick

New Brunswick is one of Canada's three Maritime provinces and is the only province in the federation that is constitutionally bilingual . The provincial capital is Fredericton and Saint John is the most populous city. Greater Moncton is the largest Census Metropolitan Area...

 until 1860. It was subdivided into 20 shilling

Shilling

The shilling is a unit of currency used in some current and former British Commonwealth countries. The word shilling comes from scilling, an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive...

s, each of 12 pence

Penny

A penny is a coin or a type of currency used in several English-speaking countries. It is often the smallest denomination within a currency system.-Etymology:...

, with the dollar (initially the Spanish dollar

Spanish dollar

The Spanish dollar is a silver coin, of approximately 38 mm diameter, worth eight reales, that was minted in the Spanish Empire after a Spanish currency reform in 1497. Its purpose was to correspond to the German thaler...

) circulating at a value of 5 shillings (the Halifax rating

Halifax rating

The Halifax rating was a valuation of the Spanish dollar in the £sd accounting system. It set the Spanish dollar at a value of 5 shillings and was established c.1750 in Halifax, Nova Scotia...

).

History

In 1852, New Brunswick adopted the same standard for its pound as the Province of Canada

Province of Canada

The Province of Canada, United Province of Canada, or the United Canadas was a British colony in North America from 1841 to 1867. Its formation reflected recommendations made by John Lambton, 1st Earl of Durham in the Report on the Affairs of British North America following the Rebellions of...

 was using, with 1 British pound = 1 pound 4 shillings 4 pence local currency (see Canadian pound

Canadian pound

The pound was the unit of account for currency of the Canadas until 1858. It was subdivided into 20 shillings, each of 12 pence. In Lower Canada, the sou was used, worth penny...

). The pound was replaced by the dollar

New Brunswick dollar

The dollar was the currency of New Brunswick between 1860 and 1867. It replaced the pound at a rate of 4 dollars = 1 pound and was equal to the Canadian dollar...

 in 1860, at a rate of 1 dollar = 5 shillings.

Coins

In addition to British coins and Spanish dollars, copper tokens were issued in 1834 and 1854 in denominations of ½ and 1 penny.

Banknotes

Five chartered banks

Banking in Canada

Banking in Canada is widely considered the most efficient and safest banking system in the world, ranking as the world's soundest banking system for the past three years according to reports by the World Economic Forum. Released at October 2010, Global Finance magazine put Royal Bank of Canada at...

issued notes, the Bank of Fredericton (1837-1838), the Bank of New Brunswick (1820-1860), the Central Bank of New Brunswick (1847-1860), the Charlotte County Bank (1852-1859) and the Commercial Bank of New Brunswick (1837-1860). Denominations issued were 5, 7½ and 10 shillings, 1, 2, 3, 5, 10 and 25 pounds. Some of the Bank of New Brunswick and Central Bank of New Brunswick's notes also bore the denomination in dollars.