The term was first used in Canada in 1837-1838 referring to merchant script which appeared in abundance during those years. When the Canadian government released 25 cent paper money, starting in 1870, the term ‘shinplaster’ was also commonly used in Canada.

In 1870, the Dominion of Canada, under the leadership of Sir Francis Hincks, Minister of Finance, also issued a 25 cent fractional note. The U.S. dollar at the time was devalued to 80 cents (against the Canadian dollar), but [U.S.] silver coin was circulating at par, and as such was saturating the Canadian system.

The Canadian Government was trying to rid the Canadian banks of U.S. coin. As part of a delaying tactic until the Royal Mint in London, England, could ship [sufficient] new 25 cent silver pieces, 25 cent fractional notes were printed (by British American Bank Note Co., Montreal and Ottawa) and issued. U.S. coin as a result was returned to the U.S. or shipped to England as bullion.

Although ‘shinplasters’ were printed only as a temporary measure, they were so popular that two more versions were released in 1900 and 1923. The 1870 issue featured a picture of the bust of Britannia. The reverse featured lathework and the words ‘Redeemable on presentation at Montreal, Toronto or St. John’. This issue had approximately 4,300,000 notes printed in 3 series (‘A’, ‘B’, ‘Plain’) between 1870-1897.

The 1900 issue featured Britannia seated on her shield holding a trident. There were 3 series each with a different Minister of Finance’s signature. There is no record of exactly how many were printed but a total of 5,320,000 of 1900 shinplasters were received by the Ministry of Finance by 1923.

The 1923 issue featured an obverse of Britannia’s head and torso, and she’s holding a trident. The reverse of the bill featured the same design as the 1900 issue. Basically, there were 4 issues based on 4 different signature combinations. . . . A total of 7 million 1923 shinplasters were printed.

On Monday, April 17, 2000, a 1900 ‘shinplaster ‘ was sold at Burrill’s Auction (Woodstock Fairground) for $34.00.

Sources:
- ‘The Charlton Standard Catalogue of Canadian Government Paper Money,’ 10th Edition, W.K. Cross, publisher;
- J.A. Haxby and R.C. Willey, ‘Coins of Canada,’ 18th Edition, 2000, Unitrade Press;
- Allen G. Berman & Alex G. Malloy, 'Warman’s Coins and Currency,' 2nd Edition, Wallace-Homestead Book Co.;
- ‘The Charlton Standard Catalogue of Canadian Coins, Tokens, and Paper Money,’ 36th Anniversary Edition 1952-1988, W.K. Cross, Publisher. " "