Jose ph ▁Bre cken , ▁son ▁of ▁former ▁president ▁Ralph ▁Bre cken ) ▁had ▁made ▁ir respons ibly ▁large ▁lo ans , ▁the ▁bank ▁was ▁closed , ▁and ▁liquid ated ▁over ▁the ▁next ▁several ▁years ▁( 1 8 8 2 – 8 7 ). ▁The ▁Bank ▁of ▁Prince ▁Edward ▁Island ▁was ▁the ▁first ▁in ▁Canada ▁to ▁file ▁for ▁bank rupt cy . ▁ ▁Iss u ance ▁The ▁bank ' s ▁first ▁issue ▁of ▁paper ▁currency ▁was ▁dated ▁the ▁same ▁day ▁( 1 3 ▁August ) ▁and ▁included ▁ 5 ▁and ▁ 1 0 ▁sh illing ▁notes , ▁and ▁ 1 ▁and ▁ 5 ▁p ound ▁notes . ▁A ▁shorter ▁issue ▁of ▁notes ▁in ▁ 1 8 5 9 ▁only ▁included ▁the ▁ 1 0 ▁sh illing ▁and ▁ 2 ▁p ound ▁denomin ations . ▁The ▁ 1 8 7 2 ▁issue ▁in ▁Canadian ▁dollars ▁( below ) ▁was ▁initially ▁dated ▁ 1 ▁January ▁ 1 8 7 2 ▁( and ▁then ▁re iss ued ▁again ▁ 1 ▁January ▁ 1 8 7 7 ). ▁ ▁See ▁also ▁ ▁Prince ▁Edward ▁Island ▁p ound ▁ ▁References ▁ ▁Foot notes ▁ ▁Notes ▁ ▁S ources ▁ ▁External ▁links ▁ ▁C urrency ▁Re forms ▁▁▁ ▁Category : C urr encies ▁of ▁Canada ▁Category : Mod ern ▁ob sole te ▁curr encies ▁Category : 1 8 7 1 ▁establish ments ▁in ▁Canada ▁Category : 1 8 7 3 ▁dis est ab lish ments ▁in ▁North ▁America ▁Category : 1 9 th - century ▁economic ▁history ▁Category :