ints, arranged as before, but of a slightly different
type for the 1868 issue. This new imprint is in capitals and lower case
letters on a colored strip 56 mm. long and 2-1/2 mm. wide, with a border
of pearls, and reads: 'British American Bank Note Co. Montreal'.
Doubtless the words FIVE CENTS in shaded Roman capitals would be found
over the second and third stamps of the top row if one were fortunate
enough to possess this portion of a sheet."

The stamps were printed on the wove paper then in use and perforated 12
in the usual manner.

_Reference List._

1875. Engraved and Printed by the British American Bank Note
Co., Montreal. Wove paper. Perf. 12.

25. 5c olive green, Scott's No. 37.

CHAPTER X.--_The Small "Cents" Stamps._

In the _American Journal of Philately_ for August, 1869, we read "Canada
is shortly to have a new set of stamps. Taking lessons in economy from
our own country, it seems they are about altering their stamps to make
them smaller, so as to save paper. The head will still remain exactly
the same as now, but the frame and the margin around the head will be
considerably less. We cannot see how this can be done without spoiling
the beauty of the stamp. As to whether they are to retain the same
colors we are unable to say." The 1869 issue of the United States was in
use at that time and though this series is now generally popular it was
regarded with very mixed feelings then as may be imagined from the
_Stamp Collector's Magazine_ comments on the above statement, viz.:--"We
trust this intelligence is incorrect; that the example of the new United
States stamps can have any attractive influence on the Canadian
authorities is hardly possible."

The new issues do not seem to have formed the subject of any special
official document or notice, nor does the reduction in the size of the
labels seem to have been considered worthy of special mention in any of
the Reports issued by the Postmaster-General.

These smaller sized stamps were issued as the stocks of the earlier
issues became exhausted or, in some cases, presumably as the old plates
were discarded owing to wear, but it appears very probable that the dies
for the 1c, 2c, 3c, 6c and 10c denominations were all engraved at the
same period and, as regards the 2c, 6c and 10c, it is very possible that
supplies were printed and held in stock long before it became necessary
to issue them to the public.

The 3c was the first val