Slightly off topic: Some Canadian municipalities require license plates for a rickshaw, a human operated pull cart which is popular in the East, but used in Canada to carry tourists around town.
Don.....
I'm not big into restoring finds but I think I would try to restore that license plate then display it. It would look great behind my bar if you have no place for it...
Personally, I wouldn't touch it; but I would create a plague with the history of license plates in your particular province; including the probable requirement that the first plates be handmade by the vehicle owner; during that period after the requirement to license was enacted but before the government issued license plates.
Don........
That's one beautiful find cryptic!
I guess by 1909 the automobiles were competing for space on the roads with the
horse & buggies and they all needed to be licensed!
In the photo below a horse and an automobile were going to have a race, but the
horse didn't hear the word "GO" over the noise of the cars engine!
Who knows, with some research you may be able to ID the find. Heck , it's #24...seems like a great historical find for your area. I'd avoid doing anything more to it and check out if you can find out ownership info on the tag. I think it would be cool seeming it in the museum withe the note "On loan from ....."