Philippine Asian News Today Vol 19 No 18 | Page 12

BUSINESS NEWS
12
PHILIPPINE ASIAN NEWS TODAY September 16 - 30, 2017
7th of a series
Weaving Canada’s Indigenous Traditions
into the Canada 150 Bank Note
The Canada 150 bank
note celebrates Confedera-
tion with a unique design de-
picting our history, land and
culture. Tightly woven into
our history, and the story told
on this special note, are sev-
eral elements depicting Indig-
enous traditions and culture.
In addition to the por-
trait of Senator James Glad-
stone, who represents the
role of Indigenous peoples in
government, the Canada 150
note incorporates the artwork
Owl’s Bouquet by acclaimed
Inuit artist Kenojuak Ashe-
vak and the distinctive As-
somption sash, an important
cultural symbol of the Métis
people.
James Gladstone or
Akay-na-muka (his Blackfoot
name) was a member of the
Kainai First Nation (Blood
Tribe). In 1958, he became
Canada’s first senator of First
Nations origin. He is also the
first Indigenous person in
Canada to appear as a por-
trait subject on a Bank of
Canada note.
Gladstone
committed
himself to the betterment of
Indigenous peoples. At the
time of his appointment to
the Senate, he, like all Status
Indians, did not yet have the
right to vote. He advocated
for this right, which was won
in 1960, when the right to
vote was extended to all In-
digenous Canadians. He also
advocated for improved edu-
cation, economic opportuni-
ties, equality and greater self-
determination for Canada’s
Indigenous peoples.
Gladstone served in the
Senate until 1971, the year
of his death. A bronze bust of
Gladstone is displayed in the
antechamber to the Senate
in the Centre Block of Parlia-
ment Hill. It shows him wear-
ing a feathered headdress
and acknowledges his signifi-
cant contribution to the Sen-
ate and to Canada.
The distinctive pattern
featured across the top and
bottom of the Canada 150
note is based on the Assomp-
tion sash, also known as the
arrow sash. The long, finger-
woven sash, most commonly
worn tied around the waist,
is part of a tradition integral
to the history of Canada. Co-
lourful sashes were worn by
French-Canadian habitants
and became a hallmark of
the voyageurs and fur traders,
who carried them westward at
the end of the 18th century.
Traders from the Hud-
son’s Bay and North West
companies regularly offered
the sashes as gifts to First Na-
tion peoples, with whom they
became popular adornments.
Since then, the sash has be-
come an important cultural
symbol of the Métis people
and is the centrepiece of the
“Order of the Sash” ceremo-
ny, during which a sash is
presented to an individual in
appreciation of a significant
contribution to the Métis na-
tion.
In the large window on
the Canada 150 note is a me-
tallic image based on Owl’s
Bouquet, artwork by Keno-
juak Ashevak (1927–2013).
A member of the Order
of Canada, Ashevak is per-
haps the best-known Inuit
artist. She lived and worked
in Cape Dorset, Nunavut, the
last territory to join Confed-
eration in 1999. Her work,
which helped introduce Inuit
art to the world, was pro-
duced in a wide variety of
media, including drawings,
prints, sculptures, textiles and
even stained glass. Ashevak’s
distinctive artwork has been
featured on Canadian stamps
and coins but never before on
a bank note.
Ashevak’s work was cho-
sen for the Canada 150 note
for its great aesthetic and se-
curity value—the owl lends
itself perfectly as a metallic
feature.
Ensuring that bank
notes reflect Canada and our
diverse society, culture and
achievements is integral to
the Bank’s formalized prin-
ciples for bank note design.
These principles now serve as
the foundation upon which vi-
sual content (theme, subject
matter and images) is devel-
oped.
Visit www.bankofcanada.
ca/banknote150 to learn more
about the design and security
features of the Canada 150
note. Follow the Bank on Twit-
ter (@bankofcanada) for the
latest news about this special
note marking the 150th anni-
PNT Foreign Exchange
$1.00 Cdn = P41.14 Php
$1.00 US = P 50.84
€1.00 EUR = P 59.92
₤1.00 GBP = P 68.38
D1.00 BHD= P 134.79
R1.00 SAR = P 13.56
¥1.00 JPY= P 0.45
versary of Confederation.
SEC clears PAL’s equity restructuring
 Philippine Airlines (PAL)
has secured the approval of
the Securities and Exchange
Commission (SEC) to de-
crease its capital stock, a
move that would allow the flag
carrier to attract new inves-
tors.
In a disclosure to the
Philippine Stock Exchange
(PSE) yesterday, PAL said the
SEC approved the application
to decrease the authorized
capital stock from P20 billion
to P13 billion through a cut
in par value per share from
P0.20 to P0.13.
It said the SEC also gave
the green light to the applica-
tion to increase par value per
share from P0.13 to P1, with-
out increasing the authorized
capital stock and thereby de-
creasing the number of shares
authorized to 13 billion shares
from 100 billion shares. 
PAL said earlier the reduc-
tion of the authorized capital
stock is part of the company’s
quasi-reorganization.
It said the move, once
implemented, would eliminate
the carrier’s defici