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The Malahat, probably the most famous of the class, known as the "Queen of the Canadian rum runners". She increased exports by smuggling at least 120,000 cases of rum southward per year even when business was slow. Afterward, when prohibition had ended, the Malahat hauled lumber until she was beached in 1944, the victim of a North Pacific gale. The stamp shows the timber piled high on the ship's maindeck, my reason for thinking the schooner depicted represents the Malahat. These schooners were built in Vancouver and Victoria shipyards as a response to the First World War shipping crisis. They were wooden hulled and fitted with auxiliary diesel engines, costing about $150,000 each.

Sea Breezes January 1978. Canada SG903

This is certainly a beautiful 5-masted schooner, but it has topsails, so it cannot be the notorious rumrunner Malahat. The Malahat was what was called a "bald headed" schooner, and as such had no topsails. I have seen well-documented photos of The Malahat, and all of them show that she had no topsails. I hate to disappoint you, but facts are facts. It would be fun to find out just what schooner this is, though. She looks very much like The City of Alberni, another famous Canadian schooner that was also built to carry lumber.
From Colleen Mattson