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 .jli'j " 
 
 
 CANADIAN RAILWAYS. 
 
 ^S 
 
 /o/<? 
 
 STATKMENT AND ACCOUNT 
 
 OP 
 
 PROCEEDINGS UNDER THE CANADA RAILWAY LOAN ACT. 
 
 
 TreMiiry Chamber*, ^^ 
 17 June 1860. J 
 
 ACTON S. AYKTON. 
 
 
 — No. 1.— .' 
 , Sir F. /?<j«7«rs to the Secretary to the Treasury. .','. V, 
 
 Sir, Downing-strcet, 3 February 1808. 
 
 I AM directed by the Duke of Buckingham and Chandus to tnnisniit to you a 
 copy of a Despatch from the Governor General of Canada, accompanied l>y au 
 Act of the Canadian Legislature, pas^sed for the purpose of carrying into effect 
 tiie requirements of the Imperial Act of last year, entitled, ''The Canadian 
 Railway Loan Act, 1807." 
 
 Thtir Lordsiiips' attention will probably be drawn to the 32nd section, which 
 provides for the raising of a supplemental loan of 1,000,000 /. without Imperial 
 guarantee, if such additional e.xpenditure should be necessary for tlie completion 
 of the works. 
 
 His Grace has no data before him, further than were supplied at the time of 
 the introduction of the Imnerial Act, on which to found au estimate of the pro- 
 bable sum required to ensure the completion of the railway, but he desires me 
 to state that he entertains considerable doubt whether the additional sum contem- 
 plated by the present Act will be sufficient for the purpose. 
 
 The 7th article of section 3 of the Imperial Act was especially inserted to 
 meet the uncertainty of estimate, and as it is impossible to say that lines may 
 not be selected which would inevitably exhaust the additional sum of 1,000,000 /., 
 his Grace thinks that as a security for the completion of the railway, the extra 
 loan to be raised by Canada should not be fixed at a lower amount than 
 i,000,000 1. 
 
 I am, &c. 
 The Secretary to the - • (signed) Frederic Rogerx. 
 
 Treasury. •• ■'•' 
 
 L«p. 
 
 I- 
 
 !^ 
 
 t 5 
 
 '"». 
 
 ! ! 
 
 I 
 
 -l-K'j'f ■_■■ 
 
 Enclosures in No. I . 
 
 •: (No. 7.) 
 
 -' , Lord MoHck to the Duke of Buckingham and Chandus. 
 
 Government Houbo, Ottawa, Canada, 
 My Lord Duke, ' ^ January 1868. 
 
 I HAVE the honour to transmit three copies of a Report to me from the Minister of 
 Justice and Attorney General, on the Act passed in the present Session of the Parlia- 
 ment of the Dominion of Canada, for the purpose of carrying into effect the rnquiremenU 
 of the Imperial Statute, intituled, « The Canada Railway Loan Act, 1867." 
 
 I also transmit three copies of the Provincial Act referred to. ... 
 
 Your Grace will ob'>erve that the object of the Canadian Government is to obtain as 
 soon as possible the opinion of Ilcr Majesty's Government, as to whether the Act passed 
 bv the Canadiau Parliament fulfils the requiremento of the Imperial SUtute, m order 
 
 272. "■ •*- 
 
 
oV 
 
 8 
 
 STATEMENT OF PROCEEDINGS UNDER TFIE 
 
 that no unnecessary delay may occur in commencing the construction of the Intercolonial 
 Railway. 
 
 I hIioII feel much uhlii'ed if your Grace will inform mc as soon as convenient, whether, 
 in the opinion of Her Majesty's Government, this Act is a satisfactory fulfilment of the 
 riinditions im|)08ed as the basis for granting the Imperial guarantee by the "Canada 
 ivailway Loan Act, 1867." 
 
 I have, &c. 
 His (irocc (signed) Monck. 
 
 The Duke of Buckingham and Chandos, 
 &c. &c. &c. 
 
 The Minister of Justice to Lord Monck. 
 
 Tb£ undersigned has the honour to submit for your Excellency's consideration, the 
 ex|)edicncy of transmitting at an earl^ day to the Secretary of State for the Colonies, a 
 copy of the Act of the Canadian Parliament, authorising the construction of the Interco- 
 lonial Railway, which was passed on the 2l8t December last, and an official copy of which 
 1 bee leave to send you herewith. 
 
 This Act has been framed with the view of fulfilling the requirements of the Imperial 
 Act, known as " The Canada Railway Loan Act, 1867." It provides for the construction 
 of the railway, and appropriates four millions sterling for the purpose, and by the 26th 
 clause it provides for tnc use of the railway, at all times, for Her Majesty's military and 
 other service. 
 
 It will be observed also that the conditions of the 3rd section of the Railway Loan 
 Act arc fulfilled by the 27th, 28th, 29th, 30th, Slst, 32nd, bSrd, and 34th clauses of the 
 Canadian Statute. 
 
 As it is of great consequence that this work should be proceeded with without delay, it 
 is important that the approval of Her Majesty's Government should be obtained with nil 
 convenient speed. 
 
 The Canadian Parliament will re-assemble on the 12th March, and it is exceedingly desir- 
 able that it should be informed that the Act in question has been approved of, or that 
 some further legislation is necessary. 
 
 The undersigned assumes that the measure will be considered satisfactory, and in such 
 case the only tning remaining to be done before the granting of the guarantee and the 
 commencement of the wcrk, is to obtain the approval of the Secretary of State for the 
 Colonies, to the line in which the railway is to be constructed. 
 
 The Canadian Government expect to be able to transmit for the consideration pf his 
 Grace the Secretary <>f State for the Colonies, before the work can be commenced in the 
 spring, a report of their decision as to the plan of the line of rulway, together with the 
 estimates of the cost of construction, which it is hoped will meet with his approbation. 
 
 The undersigned trusts, however, that his Grace will not wait the reception of such 
 report, before obtaining the decision of Her Majesty's Government, whether the Canadian 
 Act is in other respects satisfactory. 
 
 Ottawa, 6 January 1868. 
 
 (signed) Jultn A. Macdonald. 
 
 Anno Tricesimo-pkiho VicTOBiiE Reoin^. 
 
 Cap. XIIL 
 
 An Act respecting the construction of " The Intercolonial Railway." 
 
 Assented to 21 December 1867. 
 I'lvamble. Whereas the provinces of Canada, Nova Scotia, and New Brunswick joined in a 
 
 declaration that the construction of the Intercolonial Railway is essential to the consolida- 
 tion of the Union of British North America, and to the assent thereto of Nova Scotia 
 and New Brunswick ; and consequently agreed that provision should be made for its 
 immediate construction by the Government of the Dominion of Canada ; and whereas, 
 in order to give effect to that agreement, it was declared by the 145th section of tho 
 Imperial Act, known as " The British North America Act, 1867," that it should be the 
 duty of the Government and Parliament of Canada to provide for the commencement, 
 within six months after the Union, of a nulway connecting the River St, Lawrence with 
 the city of Halifax in Nova Scotia, and for the construction thereof without intermission, 
 and the conipletion thereof with all practicable speed ; and whereas the Imperial Act 
 ' ^' . known as " The Canada Railway Loan Act, 1867," authorises the guarantee by the Im- 
 
 perial Government of the interest on a loan to be raised by Canada towards the construc- 
 tion of the Intercolonial Railway, connecting the Port of Riviere du Loup, in the 
 Province of Quebec, with the line of railway leading from the city of Halifax, in the 
 . * "^ Province 
 
iQlf 
 
 Intercolonial 
 
 ent, whether, 
 filment of the 
 the "Canada 
 
 lave, &c. 
 Monck. 
 
 leideration. the 
 the Colonies, a 
 of the Interco- 
 . copy of which 
 
 if the Imperial 
 lie construction 
 ind b^ the 26th 
 f'a military and 
 
 Railway Loan 
 li clauses of the 
 
 rithout delay, it 
 btained with all 
 
 [ceedingly deeir- 
 oved 01, or that 
 
 ory, and in such 
 irantce and the 
 )f State for the 
 
 'ideration pf hia 
 tmmenced in the 
 gether with the 
 iipprobation. 
 ception of such 
 ler 'Jie Canadian 
 
 1. Macdonald. 
 
 iAILWAT. 
 
 3cember 1867. 
 wick joined in a 
 to the consolida- 
 of Nova Scotia 
 )e made for its 
 » ; and whereas, 
 h section of the 
 t should be the 
 commencement, 
 _ Lawrence with 
 out intermission, 
 le Imperial Act 
 ntee by the Im- 
 •ds the construc- 
 i Loup, in the 
 Halifax, in the 
 Province 
 
 u 
 
 Twmini of RaUway, 
 Itoi 
 
 To h« • p«bUe 
 work. 
 
 How oomttoetod 
 and iDUMfad. 
 
 Appointrntnt of 
 chief enginatr. 
 
 AppoiatacBt of 
 oltMr oSmi*, ftc. 
 
 CANADA RAILWAY LOAN ACT. 3 
 
 province of Nova Scotia, at »r near the U.wn of Truni. on certain cowlition* therein 
 mentioned: Therefore, in fulfihnent of the duty imiKMed on the Uovemment and I'arlia- 
 mcnt of Canada a« aforciwul ; and in i.nler to the raining of the aaid lou ao to b« 
 guaranteed u> aforcKaid, Her Majeity, by and with the advice and cnMnt of the Senate 
 and House oi Commona of Canada, enacts a'« follows : 
 
 1. There shall be a railway constnirted, connecting the inirf of Rixif-ro <lu L.uip Wforc 
 mentioned, with the line of railway leading Ironi the wiiil oitv of Halifax, at or near thr 
 said town of Truro, and such railway shall l>e atyletl and known aa •' The IntcrroK.nial 
 Railway." 
 
 2 The said railway shall be a public work belonging to the Dominion of Canada; and 
 Aall he made with a gaupe of H feet 6 inches, and on micIi grades, in sucli |.la<-es, in siuh 
 manner, with such materials and on such siicrifications as the Oovemor in Coiinoil >.hall 
 detcrinino and appoint as best iula|itcd to the general interests of the dominion. 
 
 3. Ihe construction of the railway and \U management until completed shall l.c under 
 tte charge of four Commissioners, to be appointed by the Governor, who shall hold office 
 dnnng pleasure. 
 
 4. The Governor shall and may appoint a chief engineer, to h«>ld office during pleasure, 
 who, under the instructions he may receive from the Commisvioners, shall have the general 
 superintendence of the works to be constructed under this Act. 
 
 5. The Commissioners shall and may appoint and employ a secreterv. such engineers 
 (under the chief engineer), and such surveyors and other officers, and' also such agents, 
 servants and workmen, as iu their discretion they may deem necessary and proper for 
 the execution of the powers and duties vested in the said Commissioners by virtue of 
 this Act 
 
 6. The Commissioners shall have full power and authority by themselves, their en- Power* of Com- 
 gineers, agents, workmen, servants, contractors and the servants and workmen of such miMioners. 
 contractors : — 
 
 1 . To explore and survey the country lying between Riviere du Loup and Truro . To tzploic. 
 
 2. And for that purpose to enter into and ujwn any public lands or the Unds of To enter on Unit, 
 any corporation or person whatsoever ; 
 
 3. To make surveys, exiuninations or other arrangements on such lands necessary To tx the rit* of 
 for fixing the site of the railway, and to set out and ascertain such parts of the lamls "^'•• 
 
 as shall be necessary and proper for the railway ; 
 
 4. And to fell or remove any trees standing in any woods, lands or forests where To fell timbar. 
 the railway shall pass, to the distance of four rods from either side thereof 
 
 7. The Commissioners arc further authorised to enter upon and take possession of aiiy To take posMSiioB 
 lands required for the purjwses of the railway, and they shall lay off the same by metes "^ '•"'••• 
 
 and bounds, and deiiosit of record a description and plan thereof in the office for the 
 registry of deeds for the county or registration division in which the lands are situate, 
 and such deposit shall oi)erate as a dedication to the public of such lands, which shall be 
 thereupon vested in the Crown. 
 
 8. The Commiseioners or contractors may enter with workmen, carts, carriages, and May lue adjacent 
 horses, upon any lands, and depf)3it thereon soil, earth, gravel, trees, bushes, logs, poles, '*""'• 
 brushwood or other material found on the line of railway or works connected tlierewith, 
 
 or for the purpose of digging up, quarrying and carrying away earth, stones, gravel, or 
 other material, and cutting down and carrying away trees, bushes, logs, poles and brush- 
 wood therefrom for the making and preparing of such railway. 
 
 9. It shall be lawful for the Commissioners to make or construct in, upon, across, under ***y '"•''• ''' 
 or over any land, streets, hills, valleys, roads, roilways or tramroads, canals, rivers, brooks, "^'^••"'y worat. 
 streams, lakes or other waters, such temporary or permanent inclined planes, embankments, 
 
 cuttings, aqueducts, bridges, roads, ways, passages, conduits, drains, piers, aroliea or other 
 works as they may think proper. 
 
 10. They may alter the course of any river, canal, brook, stream or watercourse, and May alter the 
 may divert or alter as well temiwrarily as permanently the course of any such rivers, «<>""•• »f riren. 
 streams of water, roads, streets or ways, or raise or sink the level of the same, in order to 
 
 carry them over or under, on the level of, or by the side of, the railway, as they may 
 think proper. 
 
 11. They shall have power to make conduits or drains into, through or under any laiuU 
 adjoining the riulway, for the purpose of conveyiug water from or to the railway. 
 
 12. The Commissioners shall Lave all such other powers (not inconsistent with this -And enjoy power* 
 Act) as may be conferred upon railway companies by any Act which may be passed for g!,"„'JJ2b2i w 
 the consolidation and regulation of the general clauses reUting to railways. ^^^ " 
 
 13. The Commissioners may contract and agree with all persons, oorporatioiM, gnai^ Power* »f Commta- 
 dUns, tutors, curators and trustees whatsoever, not only for themselvM, thair heirs, sue- l^^^!^^"^*^ 
 
 272. A 2 C*"*""* land a. 
 
 May drain into 
 adjaeant land*. 
 
 
 P <l 
 
Arliitratora tn I'on- 
 sidt-r incrcaMMl 
 vftluf given to 
 property. 
 
 Duties of Commis. 
 iiioners with respect 
 to tenders anil 
 contracts. 
 
 4 STATEMENT OF PROCEEDINGS UNDER THE 
 
 cc(iora and utiirnB, but also for ami on the behalf of those whom they reprewnt, whether 
 intr.iitii, abscntecK, lunaticK, inarric<l women, or other pcrxonit otherwise incapable of cun> 
 tractiii(r, for the purchase of anv land or other property necessary for the construction, 
 maintenance and iihc of the railway, at such prices as may be agreed upon ; and may also 
 ciintruct and agree with all ewh ])eriM)ns and ror|H>ration8 on the amount of compensation to 
 be i)aid fur any damages sustained by them by reason of anything done under and by 
 autnority of this Act 
 
 In case of difference 14, Whenever the Commissioners and any such jMirty or corporation fail to ngrro as to 
 Hii to value ol ^^^^^^ value or roni|N2n8ati(m as aforesaid, the claim for the same shall, on the requci-i of the 
 
 *" "' clniinnnt, be referred to the award of the otficial arbitrators to be apiwinted according to 
 
 the |irovi)<ions of any Act that may be passed respecting the public works of Canuda, and 
 the Humc proceedings shall be had before the said arbitrators as if the claim were one made 
 under that Act. 
 
 \5. The arbitrators in deciding on such value or compensaticm arc authorised and rc- 
 qtiired to take into consideration the increased value that would be given to any lands or 
 grounds through or over which the railway will pass, by reason of the passage of the rail- 
 way through or over the same, and to set off the increased value that will attach to the 
 8ai<l lands or grounds ngaini<t the inconvenience, loss or damage that might be sufTcrcd or 
 sustained by reason of Commissioners taking possession or usmg the said lauds or grounds 
 as aforesaid. 
 
 10. The Commissioners shoU build such railway by tender and contract after the plans 
 and specifications therefor shall have been duly advertised, and they shall accept the 
 tenders of such contractors as shall appear to them to be possessed of sufficient skill, expe- 
 rience and resources, to carry on the work or such portions thereof as they may "contract 
 for; provided always that the Commissioners shall not bo obliged to accept the lowest 
 tender, in case they should deem it for the public interest not to do so ; provided also that 
 no contract under this section involvin<; an expense of ten thousand dollars or upwards shall 
 be concluded by the Commissioners until sanctioned by the Governor in Council. 
 
 17. The contracts to be so entered into shall be guarded by such securities, atid contain 
 such provisions for retaining a projmrtion of the contract monies, to be held as a reserve 
 fund, for such jjcriods of time, and on such conditions, as may appear to be necessary for 
 the protection of the public, and fur securing the due performance of the contract. 
 
 18. No money shall be paid to any contractor until the chief engineer shall have certi- 
 fied that the work, for or on account of which the same shall be claimed, has been duly 
 executed, nor until such certificate shall have been approved of by the Commissioners. 
 
 19. No Member of Parliament shall hold, or be appointed to any office of emolument 
 under the Commissioners, or be a contractor or i)arty to any contract with the Commis- 
 sioners for the construction of the railway or any part thereof. 
 
 20. The Governor, or any person or persons n])pointed by him, shall have power to in- 
 spect all contracts and proceedings of the Commissioners, and to examine their accounts at 
 all times. 
 
 21. The Governor in Council shall, in the first instance, fix the rate of salary or com- 
 pensation for the Commissioners and the chief engineer, and shall approve of all other 
 salaries to be awarded by the Commissioners, subject in all cases to the revision and con- 
 firmation of Parliament at its first Session thereafter. 
 
 22. The Governor in Council uhall have the power, at any time, to suspend the progress 
 of the work until the then next Session of Parliament. 
 
 23. The Commissioners shall from time to time be paid, on their requisition by the 
 Receiver General, all monies that may be required for the purposes of this Act, in such 
 manner, at such times, and in such sums as may, from time to time, be ordered by the 
 Governor in Council. 
 
 24. The Commissioners shall furnish quarterly accounts (or oftener, if re(^uired by the 
 Governor in Council) to the Receiver General, of all expenditure and liabilities under this 
 Act. 
 
 25. Whenever the railway, or any portion thereof, shall be completed, |t shall be lawful 
 for the Governor in Council to make suitable arrangements for the working of the same ; 
 but such arrangements shall not be for any longer period than the end of the Session of 
 Parliament next after the making of the same. 
 
 26. Her Majesty's naval or military forces, and all artillery, ammunition, baggage, 
 provisions, or other stores for their use, and all officers and others travelling on Her 
 Majesty's naval, military, or other service, and their bag^ge and stores, shall at all times, 
 when thereunto required b^ one of Her Majesty's Principal Secretaries of State, or by 
 the Commander of Her Majesty's forces in Canada, or by the chief naval officer on the 
 North American station, be carried on the railway on such terms and_ conditions, and 
 under such regulations as the Governor in Council shall from time to time make, or as 
 shall be agreed upon between the Government of Canada, and one of Her Majesty's 
 Principal Secretaries of State. 
 
 27. For 
 
 Securities for fnl- 
 filment of contract. 
 
 Chief engineer to 
 certify to work 
 ilone before pay- 
 ment. 
 
 nis(|uaIification of 
 Members of Parlia- 
 ment OS ofliccr:^ or 
 contractors. 
 
 I nspection of con- 
 tracts, &c. by 
 Governor. 
 
 Salaries. 
 
 Suspension of 
 •works. 
 
 Provision for 
 meeting expen- 
 Jitui-e. 
 
 Quarterly accounts. 
 
 Working of com- 
 pleted portions. 
 
 Carriage of naval 
 and military forces. 
 
/07"i 
 
 CANADA RAILWAY LOAN ACT. 
 
 nt, whether 
 ,blc of con- 
 onst ruction, 
 ml may aUo 
 
 Jtcnsation to 
 Icr and by 
 
 I ngroe as to 
 ;quo.-i of the 
 according to 
 Canada, and 
 crc one made 
 
 iscd and rc- 
 iny landd ur 
 ;e of the nul- 
 [ttacii to the 
 e suffered or 
 la or grounds 
 
 ter the plans 
 ill accept the 
 nt skill, expc- 
 may 'contract 
 jpt the lowest 
 r'lAcA also that 
 upwards shall 
 ncil. 
 
 9, and contain 
 Id as a reserve 
 necessary for 
 fitract. 
 
 all have certi- 
 has been duly 
 [nissioners. 
 
 of emolument 
 the Comniia- 
 
 •c power to in- 
 eir accounts at 
 
 lalary or cora- 
 
 e of all other 
 
 asion and con- 
 
 id the progress 
 
 lisition by the 
 18 Act, in such 
 )rdered by the 
 
 equired by the 
 lities under this 
 
 shall be lawful 
 • of the same ; 
 the Session of 
 
 tion, baggage, 
 veiling on Her 
 aU at all times, 
 f State, or by 
 il officer on the 
 onditions, and 
 io make, or as 
 Her Majesty's 
 
 27. For 
 
 27. For the pur|K>«c of ronKtru'tin;? ilip ^lid i-nilwav tl\<ro ^h»ll l.o nii«M| liv loan and 
 aj.pn.priatcd, a huh not cxcmliii); ;».(Kio,(Hmi/. -t. rliii;;, l.«ariiic 'iit«ro»t at a rafo not 
 
 the payiiK'nt of the intercut of 
 undirthc proviuionn of" The 
 
 ajiproiinBicu, a i<uiu noi cxct'poilij; .5,(Kit),(HMl /. "ti rliiiL', l>«'i 
 exceeding 4 jicr cpntum per unnuiii, u|h.ii tlic <;u»ianf«i of th 
 such loun by the Commissioners of llir Majd'tyV TroiiKury, 
 Canada Railway Loan Act, 1867." 
 
 I.>«n («itb Im- 
 iwnal |u>r*ntr>' > 
 hir rooitnu Ik II ul 
 luaJ. 
 
 Minll be, and i-. hereby chargnl with CanMUdatcJ 
 V nftiT the (li.irjii'ii fiiccifii-ally made M«»nue Fuml 
 
 cbargvd. 
 
 Sinkbit fun.l 
 pruvi(lr<l (ur. 
 
 28. The Concolidated lievcnuc Fund of Cansida 
 the principal and inferext of the loan, iinnu'diuti-Fv niior ine ciLirjicn i-iwcil 
 thereon by sections lO.J, l()4, and l(»j of "The Uritish North .America .\rt, l»67." 
 
 29. A sinking fund is hereby providcil for the payment by the (iovcmment of Canada 
 of an annual nuni at the rate of 1 perceTituni j.er an'mmi on the entire aiuoiint of piineii.al 
 money whereon interest i^ guaranteed, wliieli ^hali be remitted the Conimi.'oioiuTs of ller 
 Majesty's Treasury, by efpial half-yearly iinyments, in such manner an thcv may from 
 time to time direct, and shall ho invested anil aeciimulated umler their direetioii' in the 
 name ol'four trustees, nominated from time to time, two l>y the Coininis^ioners of Her 
 Majesty's Treasury and two liy the (Jovemmcnt of Cnnaila': und sii.li siiikini; fund and lUinn.tm.nt. 
 its aecunndations shall be investe<l in securities of the I'rovimes of ( anada. Novo S-otiu, 
 
 and New Brunswick, issued iieforc the union of Canada, or at the option of the (iovcm- 
 ment of Canada, in such <ither securities ns may be pro|Mi.-ed liv that (idverninent, and 
 approved by the Commissioners of ller .Majesty's Ireasury, aiii shall be aj.plied under 
 the direction of the Commissicmcrs of Her Slaje-ty's Treasury in discharge of the prin- 
 cipal money whereon interest is guaranteed ; and the Consolidateil Uevenue Fund of 
 Canada shall be, and the same is, hereby charged with the amount of the said sinking fund 
 immediately after the principal and interest ot the loan. 
 
 .30. The Consolidated Revenue Fund of Ca-.ada shall be, and the same is, hereby charged rharR* on 
 with any sum issued out of the Consolidated Fund of the I'liited Kingdom, under " The fonmlidutii 
 Canada Railway Loan Act, 1867," with interest thereon, at the rati 
 annum, immediately after the sinking fund. 
 
 Its npflicktion. 
 
 of .'< per centum jier 
 
 I 
 KevcDUc Fund. 
 
 Conlinuimt-e of 
 aiokiug (ud<]. 
 
 I.nan (witliout 
 Inii>erial gnarantn). 
 
 3L The sinking fund shall he continued until all principal and interest of the loan, and 
 all sums issued out of the Consolidated Fund of the United Kingdom, under "The" 
 Canada Railway Loan .\ct, 1867," and all interest thereon arc fully discharged, or until 
 the sinking fund and its accumulations arc adec[uate to discharge so much thereof as 
 remains undischarged. 
 
 .32. The Government of Canada is hereby emjiowercd t(( raise, by loan, for the comple- 
 tion of the railway, a further sum not exceeding 1,0(K),00()/. sterling (without guarantee 
 by the Commissioners of Her Majesty's Treasury), and the Cc > iidatcd Revenue Fund 
 oi' Canada shall be, and the same is, hereby charged with the nu,. . \ (> raised and interest, 
 immediately after the charges made thereon in pursuance of the fiv( next preceding sec- 
 tions of this Act. 
 
 33. For the ])urpose of effecting the loan, the interest of which is to he guaranteed in Effecting of 
 manner hereinbefore mentioned, it shall be lawful tor the Governor to authorise suarantenl loan liy 
 debentures to the amount of 3,000,000 /. sterling, to be issued iu such form, and payable ««"• «^ debentures, 
 at such period, and for such sums, and at such rate of interest, as shall be most convenient, 
 
 and as shall be in accordance with the terms of " The Canada Railway Loan Act, 1867." 
 
 34. For the purpose of effecting the loan of 1,000,000/. sterling, mentioned in the Effecting of limii 
 32nd section of this Act, or any part thereof, it shall be lawful for the (iovcrnor in secondly mentioned. 
 Council to authorise the issue of debentures either in currency or sterling money, in such 
 
 form, bearing such rate of interest, not exceeding 6 jier centuin per annum, in such sums 
 
 and payable at such periods as may be most convenient ; or it shall be lawful for the 
 
 Governor in Council to issue permanent Canadian Stock, or Terminable Annuities, or 
 
 Exchequer Bills, or securities in any other form that may be most convcnien', and as • . 
 
 shall be in accordance with " The Canada Railway Loan Act, 1867." 
 
 35. Separate accounts of the monies raised under this Act shall he kejit by the Receiver Account!. 
 General, and all sums required for the carrying out of this Act shall be paid out of such Advances and their 
 monies, and not out of any other fund, except that the Governor in Council may authorise repayment. 
 
 the advance, out of the Consolidated Revenue Fund, of such sums as it may be necessary 
 to expend for the purposes aforesaid, before the said loans can be raised, such sums to bo 
 repaid to the Consolidated Revenue Fund out of the loans. 
 
 — No. 2. — 
 
 The Secretary to the Treasury to the Under Secretary for the Colonies. 
 
 Sir Treasury Chambers, 13 February 1868. 
 
 I AM directed by the Lords Commissioners of Her Majesty's Treasury to state, 
 
 for the infoimation of the Duke of Buckingham and Chandos, that my Lords 
 
 annrove ceneraliy of the Act of the Canadian Legislature, 31 Vict. c. 13, for the 
 
 27i!. • A3 construction 
 
b1' 
 
 .4 STATEMENT 01- PROCEEDINGS UNDER THE 
 
 constniction of the Intcrrulonial Railway, which Mas submitted in your letter of 
 the 51 h instant. 
 
 My Lords, however, t-onciir with hia Grace in iipinion, that it would lie 
 desirable that ihc sum to be raised by the dominion without Imperial guarantee, 
 should not be less than 2,000,000 /. ; and they suggest thHt before approval of 
 the Act is given, a comniunicatiou to that effect should be made to the (jovernor 
 General. 
 
 I am &c. 
 
 The Under Secretary for the Colonies, (signed) George Ward Hunt. 
 &c. &c. Ike. 
 
 M 
 
 — No. 3. — 
 The Under Secretary for the Colonies t«> the Secretary to the Treasury. 
 
 Sir, Downing street, 16 May 1868. 
 
 I AM directed by the Duke of Buckingham and Chandus to refer to the letter 
 from thin Department, dated the 6th of February last, and to your answer of the 
 13ih of February, relative to the Act of the Canadian Legislature, 31 Vict. c. 13, 
 respecting the construction of the Intercolonial Railway. In addition to the 
 sum of 3,000,000/. sterling, for which a guarantee loan is proposed to be nused 
 in England, that Act provides for raising, if necessary, an additional million 
 without guarantee, in order to complete the railway. 
 
 Their Lordships agreed with the Duke ut' Buckingham and Chandos that the 
 provision of this additional amount was less than it might be prudent to require, 
 especially in the uncertainty what line might be selected. 
 
 But his Grace has since understood it to be probable that the route by the 
 Bay of Clialeur will be selected, which is the one that would best suit Impe- 
 rial purposes 
 
 Major Robinson, of the Royal Engineers, made a report iu 184S for the Impe- 
 rial Government, in which he estimated the length of the entire road from Hali- 
 fax to Quebec at 635 miles, and the cost, including 10 per cent, for contingencies, 
 at 4,889,500 /. This gives a cost of 7,700 /. per mile. The road has since been 
 constructed from Halifax to Tiuro, and from Quebec to Riviere du Loup, a dis- 
 tance takeu in Major Robinson's estimate at 165 miles, so that, according to that 
 estimate, 470 miles remain to be constructed. At the above rate per mile, this 
 would cost 3,619,000 /., much less than the total sum of 4,000,000 /. sterling. 
 
 Mr. Sandford Fleming was a civil engineer, appointed in 1863, with the joint 
 opinions in his favour of the three Provincial Governments, and of the Duke of 
 Newcastle, vi)o was then Secretary of State. He bears u high reputation for 
 accuracy and caution. Mr. Fleming thought that, allowing ror curvature, the 
 distance might exceed Major Robinson's estimate, and he expressed a general 
 opinion that, although the actual result might prove more favourable, the total 
 cost should be taken in round numbers at twenty million (20,000,000) dollars. 
 
 But then Mr. Fleming caused a thorough survey to he made of a portion of 
 the line, 70 miles in length, described by Major Robinson as the " most for- 
 midable" part of the whole, and the result confirmed Major Robinson's account 
 of the distance, whilst the cost was estimated by Mr. Fleming at ,9 39,786, or 
 about 8,290 /. per mile. If this rate of cost, calculated on one of the most diffi- 
 cult portions of the line, be extended to the whole, the required distance of 470 
 miles would not cost more than 3,896,300 /. 
 
 Reviewing the circumstances, the Duke of Buckingham and Chandos would 
 be prepared, if the Lords Commissioners of the Treasury concur, to instruct the 
 Governor General that in case the line by the Bay of Chaieur be adopted. Her 
 Majesty's Government will he willing to accept the provision of 1,000,000/. ster- 
 ling made in the Act already passed by the Canadian Parliament. 
 
 The Secretary to the Treasury. 
 
 I am, &c. 
 (signed) C. B. Adderley.^ 
 
letter of 
 
 juld lje 
 arantee, 
 roval of 
 overnor 
 
 Hunt. 
 
 lury. 
 
 r 1868. 
 the letter 
 net of the 
 ict. c. 13, 
 jn to the 
 I be rused 
 il million 
 
 IS that the 
 to require, 
 
 ite by the 
 luit Impe- 
 
 the Impe- 
 from Hali- 
 tingencies, 
 since been 
 oup, a dis* 
 ing to that 
 mile, this 
 iterling. 
 h tlie joint 
 le Duke of 
 )utation for 
 vature, the 
 _ general 
 e, tiie total 
 dollars, 
 portion of 
 ' most for- 
 t's account 
 39,786, or 
 most diffi- 
 ince of 470 
 
 ndos would 
 nstruct the 
 opted. Her 
 000/. ster- 
 
 idderla/.. 
 
 fOl'i' 
 
 CANADA RAILWAY LOAN ACT. j 
 
 — No. 4. — 
 
 Mr. G. A. Unmillon to -lie L'nclir Secretary for the Colonies. 
 
 S"". Treasury (hamhfre, 'i'2 Mav I8«rt. 
 
 The Lord* Commi!.sioiiers o'' Her M,.j(stv"8 Tr."a^ur\ l.;»v,- l,,„l b»'ton- tli-m 
 your letter ..» lb.' Ifitli instant, staiii.ir th..t Uif Duk.- ot Burkin ;h;iiT. ku.I Cli m- 
 doH liim had iind.r his (•oiisi(l..r.iti..ii tht- i->timiites lor the Canulian Int.-nol.m.il 
 Railway; mul that upon a r>vie>v of th. circumstances, liis (Jrac; is di^wM:.! to 
 consider that, if th.' rout- by tiic »ay of Clialeur i^ a.l.iit.'d, the proviHoa ..f 
 1,000,000/. already made in the Act parsed bv the Canadian Lejifi-lature, (ill 
 be sufficient, in additi..n to the ;J,0(M>,(»00 /. Ljaiiraut.vd by II t Majesty's 
 Government, and requcMinp; the concurn-nce o'" my Lords in tlrs view. 
 
 My Lords request that yoti will Inform his (iraw that, and. r the eircuin- 
 stances represented, tliev are not pr.'par.d to refuse their as- -it to ili • : ro- 
 posal of the Secretary of .State. 
 
 I am, See. 
 The Under Secretary for the Colonies, (signed) Geo. A. Hamitton. 
 
 &c. &c. &c. 
 
 — No. 5. — 
 Sir F. Rogers to the Secretary to tlie Treasury. 
 
 Sir, Downing-street, I July 1808. 
 
 I AM directed by the Dnke of Buekin'.:Iiam and Chundos to transmit to yon. 
 for the information of the Lords Commissioners of the Treasury, the enclosed 
 copy of a Desjiatch from the Governor General of Canada, reporting the appoint- 
 ment on behalf of the Government of the dominion, of .Messrs. Baring and GIvn, 
 as trustees of the sinking fund of the Intercolonial Railway Loan, under the pro- 
 visions of the Imperial Act of l'i.rliament, cap. 16 of 30 Victoria. 
 
 I am desired to request that you «ill move their Lordships to namt; two tr.is- 
 tees to be associated with the two who have been appointed hy the G iv rnineiit 
 of Canada. 
 
 I am, &c. 
 
 The Secretary to the Treasury. (signed) Frederic Rogers. 
 
 (No. 95.) 
 
 Enclosure in No. 5. 
 
 Viscount Monck to the Duke of Buckinyham. 
 
 Government House, Ottawa, Canada, 
 My Lord Duke, 1 June 1868. 
 
 I HATE the honour to transmit, for your Grace's information, an approved Minute of 
 the Privy Council of this dominion appointing Messrs. Baring and Qlyn trustees, un the 
 part of the Government of Canada, of the smkine fund for the extinction of the loan to 
 be raised for the construction of the Intercolonial Railway, under the provisions of " The 
 Canada Railway Loan Act, 1867." 
 
 I have, &c. 
 Hia Grace the Duke of Buckingham and Chandos, (signed) Monch. 
 
 &c. &c. &c. 
 
 CoPT of a Report of a Committee of the Honourable the Privy Council, approved 
 by his Excellency the Governor General on the Ist June 1868. 
 
 On a memorandum, dated Ist June 1868, from the honourable the Minister of Justice 
 
 and Attorney General, recommending, in the absence of the honourable the Minister of 
 
 272. A 4 Finance, 
 
 
 1 
 
 |l' i 
 
 I ill 
 
 II: 
 
t-*-* 
 
 30* 
 
 &3\, 
 
 ^^"' 
 
 i STATEMENT OF PUOCEEDINGS UNDER THE 
 
 Finance, that ThomM HnriiiK, Kk(|., mcrrhant, and (ieurf^c Carr Olyn, Ivvi . 'lanker, of 
 Lundon, Kngland, Itu n|i|K>int(Ml trui<lc<>* fur the (ii)vernin<!nt uf Canada, under the pro- 
 vUioni of the Art of the Ini|)<^rial Parliament, 30 V'irt. c. It). 
 
 The committee Niibiuit the above recommendation for your Kxreilency'a apiiroval. 
 
 Certified, 
 
 (.igned) «m. //. Let, Clerk, P. C. 
 
 — No. 0. — 
 The Honourable J. Rose to ilie Clianccllur of the Excliequcr. 
 
 Fleming's Hotel, Clargcs-street, W., 
 Sir, London, I i Jnly 1868. 
 
 I HAVE the honour to transmit tierewith certaia documents on tliu subject of 
 the proposed loan for the construction of tlie Intercolonial Railway, to be 
 guaranteed by the Commissiom-rs of Her Majesty's Treasury, under the authority 
 of "The Canada Railway Loim Act, 1867." 
 
 The terms of the Act of tlie Canadian Parliament, ns well as the proposed line 
 of railway, having been approved by Her Majesty's Government, it now only 
 remains lor the Commissioners of Her Majesty's Treasury to convey their sanction 
 to the conditions of the loiin, as detailed in Enclosures A. and B., and to approve 
 of the form in which it is suggested the guarantee of Her Majesty's Government 
 may be evidenced. 
 
 I have prepared, for facility of reference, a brief statement (Enclosure, No. 1) 
 of the several Acts of Parliament, and of the communications which have taken 
 place on this subject, to wliich I would very respectfully call your attention. 
 
 I shall be happy to give any further inlormation which may bu desired, and, 
 as my public duties require my return to Canada as speedily as possible, I trust 
 I may be pardoned if I express the hope that 1 may be favoured with an early 
 communication of the views of Her Majesty's Government on the subject of the 
 enclosed. 
 
 I have, &c. 
 To the Right Hon. G. Ward Hunt, m.p., (signed) Jo/m Rose, 
 
 Chancellor of the Exchequer, Minister of Finance. 
 
 &c. &c. 
 
 Enclosure in No. 6. 
 (No. 1.) 
 Canada Inteucolonial Railway Loan. 
 
 TnE Canada E.'xilway Loan Act authorised the Commissionera of Her Majesty's 
 Treasury to guarantee, in such manner and i'urra as they think fit, payment of interest 
 not exceeding four per cent, on any principal sum not exceeding three millions sterling, to 
 be raised by the Government of Canada for the purpose of constructing the Intercolonial 
 Railway, on condition that Canada should pass an Act providing — 
 
 Ist. For the construction of the railway ; for its use by Her Majesty's troops ; and 
 provided the line should be approved of by a Secretary of State. 
 
 2nd. That the Canadian Act should provide, to the satisfaction of the Commis- 
 sioners of the Treasury, for the raising and expenditure by Canada of the three millions 
 on the railway ; for creating a sinking fund, and for making the loan and the sinking 
 fund charges on the revenue of Canada ; for the appointment of trustees to manage 
 the sinking fund ; and lastly, for raising, on the sole credit of Canada, such further 
 sum beyond the three millions as might be necessary to complete the line. 
 
 The Canada Act has complied with all these conditions, and authorised the raising of 
 one million sterling beyond the three millions guaranteed by the Imperial Government, 
 and has been approved of by Her Majesty's Principal Secretary of State for the Colonies. 
 
 The line has also been approved of by the Colonial Secretary, and Thomas Baring, Esq., 
 and George Carr Glyn, Esq., have been named trustees by Canada for the management 
 of the sinking fund. 
 
 The Canada Act provides that the work shall be performed and the money expended 
 by a commission, named by the Canadian Government, and it is intended that operations 
 snail be prosecuted by them as rapidly as possible. 
 
 Canada 
 
1^11 
 
 ker, of 
 le pro- 
 
 J. 
 I'.C. 
 
 ;. W., 
 
 ibjcct of 
 , to be 
 uthority 
 
 jsed line 
 low only 
 dunctioa 
 api>rove 
 /eminent 
 
 ., No. I) 
 kve taken 
 Lion. 
 
 ired, and, 
 
 le, I trust 
 
 an early 
 
 ict of the 
 
 ise, 
 'inance. 
 
 Majesty's 
 of interest 
 sterling, to 
 itercolonial 
 
 roops; and 
 
 e Commia- 
 ce milliona 
 he sinking 
 to manage 
 ich further 
 
 raising of 
 bvemment, 
 
 Goloniea. 
 |ring, Esq., 
 
 Einagement 
 
 expended 
 I operations 
 
 Canada 
 
 CANADA RAILWAY LO.W A(T. 
 
 9 
 
 I', 
 
 111*',,, 
 
 M;. 
 
 ( iin«.li» now pro,H..o. to put • |«.rti.m ,.( iI.p |.,n„ „„ ,ho mark.i. .v.,l,«rtrr cwuluti .n 
 ^Hh Me«,r^ 1 ur.n« IJr..tl...r, A, ( ... a,.,l M. ,,r.. (ily„. MilU.Ci.rrw . «, C... ||,., H.u.,.-,«1 
 n^..-nw ot th« .Inmrnioi, ,n L..i,.l,„i, |1„ t.ini. .|M..itifd in the uniiojo.l n.,K,r mn ..ikwo.UhJ 
 an tliop* on whii'li it Khonlil he otVi-roil in tlic imlilio. 
 
 It will 1.0 prrrriyo.l timt it \* |.n.|H..r.| iliitt tli<- l...n.l-. Inr that i-.rtion of thi- l.^n 
 
 wliK-li IH Ru»riint.M'.l l.y th.- Iinprrwil (iov.niment ..lioiil.l. wluii i««ur.|, |„ ntimi.r,„Hl 
 
 on the part of Hir MiijcMv',. (io\criiinoni in tlio ..hiik' I'onn ax Ma* a<lo|,iu<t in \x',; 
 in tl.c rase .if tlie TurkiHli h.mii t!uarantcc.l l.y llcr Mdi-nty ami tlio KiniKiror of tha 
 rrciicli. ' 
 
 Tlio approbation of tlic C- .iimi*!.ioncr* of Uor Maj.-ttv'i Troa-nrv i* nc-oMary Lrforo 
 prt'piiriii;? llii- form ot l.omi to lie iMuod l.y the (iovcr'nincnl of ("unada. nhirh i« aU. 
 nnni'xcl, an well a., to tho proi...., ,1 tcrniK of the K.an anil the lomi in which tho jmaranle.- -- '"•/,., 
 is to Ik! eviiltnjMMl ; and it will I..- rcpiisite that the Hnan.ial a-inl« of the dominion, or '• 
 
 the Minmterot Finanre, fhi.iild reeeive the C'ommisMoner*' autliorilv to >:rant the interim 
 receipt* einl..Hlyin(j the undert.ikin;; for the counter..i(,'naturc on lhc'i«rHif ller .Maicrty'.* 
 Uuverniuout to the bouda when irtuncd. 
 
 (A.) 
 
 DuAFT of Substance of Terms of Proposed Loan. 
 
 IssijK of l/jtMI.OtH)/. Canada llonds, iiearinn 4 per rent, interest, and Rnarantrpd by the 
 Imperial (ioveriiment of fireat Hiitain under the nuthoritv of the Art of .Jo Vietoriii. 
 V. l(i, beinsr one nu.iely of the h>an aiilhi.riM'd bv lli:it Art, and of .'.(»(»,( KM)/., :, per Cent. 
 Hoiulsof tliu (iovermnent of Canada, being uiso u moiety of tho h.an of 1,(HK),(mmi /. 
 aiitlioriscd by the Art of the rarlianient of Canada, pawedon tho 2 1st of Deccndier 1H07, 
 for the construction of the intoreolonial railway. 
 
 Messrs. Harinj; llrothers & Co.. and Messrs. (ilvn, Mills, Currie, & Co. are authorised 
 by the Minister of Finaneo of the dominion of L'auadu, to receive at the othee of tho 
 former firm, No. 8, llisliopsf^ate-strect Within, on between the hours 
 
 of 11 ami 12 o'clock of the day, scaled tenders for I, . ")(M),0(K» /., Canada 4 |wr Cent, 
 llonds guaranteed by the Imperial (iovernment of (ireat IJritaiii.and to he rei.aid at tho 
 end of 35 years, giiy on Ist October lOO:}, as per (. rni of Ixtiid aimcxed, and 5(K),(HHt /., 
 Canada 5 per Cent. Hoiids of the form and tenor also annexed, and for which a sinkin}; fund 
 of 1 per cent, per annum will be jirovided. 
 
 All these bonds will bear interest from 1st July 1808, and the dividends will be 
 payable half-yearly on ist April and 1st October of each year, Uf per Dividend 
 Warrants. 
 
 The above-mentioned sealed tenders may be for the whole or part of 2,(>()0,0(M) /., in the 
 proportion of three i|uartcrs of puarantced bonds, and one (juarterof ordinary !> per ("ent. 
 Canada Bonds, and no tender will be admitted which does not e(.raply with this condition. 
 Tho Minister of Finance of Canada will deliver to the partners present of Messrs. 
 Baring Brothers & Co., and Messrs. (ilyn, Mills, Curric, & Co., a scaled paper containing 
 tho minimum price at which he will sell the above-mentioned 2,(MM),0(K)/. bonds; and 
 those partners will then open the tenders, and afterwards the Minister's sealed paper, 
 and allot the bonds to the liighest bidder or bidders, pro rata, according to the price offered. 
 Neither Messrs. Baring Brothers & Co., nor Messrs. Olyn, Mills, Curric, & Co. will 
 make any tender. 
 
 Upon allotment a payment of 20 per cent, will be required, and the subsequent instal- 
 ments must be paid at the oflice of Messrs. Baring Brothers & Co., or Messrs. Cilyn, 
 Mills, Currie, & Co., as follows : or in default the previous payments will be forfeited — 
 
 25 per cent. 
 25 per cent. 
 Balance 
 
 L-Jth October 1868. 
 12th January 1869. 
 13th April 18G9. 
 
 Payment of these instalments may bo made in full on any of the above days, under 
 discount, at tho Bank of England minimum rate of discount. 
 
 Bcrip receipts will be issued without delay, and bonds of 1,00() /., 500 /., or 100 /. will 
 be delivered lu exchange as soon as practicable. 
 
 (B.) 
 
 Canada. ' * 
 
 Form of Debenture or Bond. 
 
 Under the authority of an Act of Parliament of Canada passed on tho 2l8t December 
 1867, entitled " An Act respecting the Construction of the Intercolonial Kail way," 
 this debenture entitles the bearer on the Ist October 1903 to the sum of 
 of lawful money of Great Britain, being part of the sum of 3,000,000 /. raised under the 
 authority of the said Act, the said principal sum to be repaid in London, at the banking 
 houses of Messrs. Baring Brothers, and of Messrs. GIvn, Mills, Cume, & Co., and to 
 interest thereon until repayment of tho principal at the rat? of 4 per cent, per anmim. 
 
 2J2. B pay»ble 
 
 i 
 (■ : 
 
 it i 
 
 w. m 
 
i\>^ 
 
 10 
 
 STATEMENT OF PROCEEUING UNDER THE 
 
 pnyahlc half-yrnrly at the hankinir houRCs of Mc88r8. Daring Hrotlici-g, and of Messrs. 
 (ilyn, Millw, i'lirric, & Co., in the City of London on presentation of the proper coupon 
 i'or the same as licrcunto annexed, namely, 2 per rent, on Ist A]iril, and 2 per cent, on the 
 li>t Uctolier ill cek li vrar, tlic said principal cum and the intercut thereon lieing charfrod 
 on the Confolidatrd Ucvciiuc Fund of Canada immcdiatciv after tlie cliarfjes oj)oclfipally 
 made thereon, liy Fcetiona lO.'J, I(i4, and l(»5,of"thc Hritish North American Act, 1H67 "; 
 iind whereas under the authoritv of an Act of the Imperial Parliament of tho United 
 Kingdom of Grout Britain and Ireland paniied in the 30th /ear of Her Majesty's reign, 
 chaiitcr 16, tlie ComniihBioncrs of Her Majesty's Treasury ore authorised to guarantee, in 
 «ueh manner and fonn aa they think fit, payment of interest at a rate not exceeding 4 per 
 I'ctit. [Kir annum on any jtrincipal money not exceeding .S, 000,000/. to be raised by way of 
 loan by the Government of Canada for the purposes of the construction of the railway, 
 and arc further authorised to cause to be issued irom time to time,outof tlio Consolidated 
 Fund of the United Kingdom, or the growing produce thereof, any money required for 
 ri\ing effect t4> such guarantee ; and the said Commissioners of Her Majesty's Treasury 
 laving accordingly guaranteed the due payment of such interest, such guarantee la 
 tci^tificd so far as relates to the interest on the amount of this debenture until payment 
 thereof, by the signature hereto of tho undersigned duly appointed by tlic warrant uf tlio 
 said CummJBsioucrs i'or such purpose. 
 
 r: 
 
 (C.) 
 
 FouM for £. 1,000,000, without Guarantee. 
 
 Under the authority of an Act of the Parliament of Canada, passed on the 21st of 
 December 1867, entitled " An Act respecting the Construction of the Intercolonial 
 liailway," this debenture entitles the bearer, 3r> years after the date hereof, to the sum of 
 
 lawful money of Great Britain, and to interest thereon in tho 
 meantime at the rate of 5 per cent, per annum, payable half-yearly at the banking house 
 of on presentation of the proper coupon 
 
 for the same as hereunto annexed, namely, 2J per cent, on Ist Jub'j and 2i per cent, oa 
 the Ist January in each year, the same being charged upon the Consolidated Kcvenuo 
 F'und of Canada immediately after the charges made thereon by sections 27, 28, 29, 30 
 and 31 of the aforesaid Act. 
 
 ^i^ 
 
 — No. 7. - 
 
 Mr. T. F. Elliot to Mr. G. A. Hamilton. 
 
 Sir, Downing-strect, 10 July 18G8. 
 
 I AM directed by the Duke of Buckingham and Chandos to refer to Mr. 
 Adderley's letter of the 16th of May last, on the Canadian Intercolonial Rail- 
 way, and to your answer of the 22nd of May, in which it was agreed that if the 
 Hay of Chaleur route be adopted, the provision of 1 ,000,000 I. sterling already 
 made under the Act passed by the colonial legislature, may be accepted la 
 addition to the sum of 3,000,000/. sterling guaranteed by Her Msyesty's Govern- 
 ment. 
 
 The Duke of Buckingham and Chandos has now received a telegraphic message 
 from the Governor General of Canada, announcing that the Bay of Chaleur line 
 has been adopted by the Canadian Government. This is understood to be the 
 short expression for the line surveyed on behalf of Her Majesty's Government, 
 and reported on by Major Robinson, r.e., in 1848. I am desired to acquaint 
 you that his Grace will be prepared to approve of that line, as soon as he receives 
 Lord Monck's Despatch conveymg the decision. 
 
 I am directed to enclose an extract of a letter from Mr. John Rose, Canadian 
 Minister of Finance, who is now in England, urging the importance of taking 
 steps for raising the loan at as early a date as possible ; and I am desired to 
 suggest that Mr. Rose should be enabled to enter into direct communication 
 with the Treasury in order to arrange those matters connected with the line, oa 
 which the authority or assistance of their Lordships is required. 
 
 G. A. Hamilton, Esq. 
 &c. &c. &c. 
 
 I am, &c. 
 (signed) T. Fred. Elliot. 
 
ro7f 
 
 McBsrs- 
 coupon 
 , on the 
 charpo«l 
 I'lfioally 
 , 1K67 "; 
 Unitcil 
 'a reign. 
 antcc,m 
 
 ng ■i po; 
 
 y way of 
 railway. 
 Bolidated 
 juircd for 
 Treasury 
 irantco is 
 payment 
 int of tlio 
 
 the 21 slot 
 ntcrcolonial 
 , the sum of 
 jrcon in the 
 nking house 
 oper coup<m 
 per cent, on 
 cd Kevcnuo 
 7, 28, 29, 30 
 
 ily 1868. 
 .fer to Mr. 
 jlonial R^l- 
 that if the 
 ling already 
 iccepted in 
 ty's Govern- 
 
 |)hic message 
 3haleur line 
 
 |)d to be the 
 
 lovernment, 
 
 to acquaint 
 
 I be receives 
 
 B, Canadian 
 
 te of taking 
 
 desired to 
 
 imunication 
 
 1 the line, on 
 
 \ed. Elliot. 
 
 CANADA RAILWAY LOAN ACT. 
 
 Enclosure in No. 
 
 tt 
 
 ExTUA. T of ,» Lkttku from Mr. /isf t.. ih.. Duke of nucki,„jl,nm, dato.l London 
 
 l>t Julv IHtiH. ' 
 
 '• YoiR Grace i. now awaro of tlu- n.Milt of tlu> .Irliht-ration. of iI.p Canadian (Jovcni- 
 mcnt on tin. <,u.-stmn. and U ».,•,»- i.u,K„tant ll.at tlio n.v,...arv finaiu-ial arran-oment, 
 jhould t.c nia.l.. lor th.- irn-orution ..ftln' work with as litflo .Idav as ,H>..sil,U. I have th- 
 honour to Ik- that thi- appnual of thr lin,. ,„av he -ivon l.v vo«r (irar.. ti.« oontotni.latod 
 by the Imperial A..t, and that tho .Min of „„„u.v provided liv'tho (iov.-rnn.ont of Cana.l,, 
 in exeoss ol the 3,.MHMM)()/. to he raised on the Imperial Knanintec, mav he hi Id .uHiricnl 
 for the fonstriiction ot the radwav." 
 
 " 1 have further tlu^ honour to"inforn> your (iraee that Tlioma.s Hari.i.'. K.(i.. m i> mA 
 George tarrt.lyn. Ks., m.i- have heen named tru.ste.vs hv tlie (iovernment of Canada 
 under the .lid NertKm ol the Art, for the management of tlie /inkin" fund " 
 
 "On eonsuitation with the finaneial a^'ents of the .lomlnion in London, it \* tliou^hf lo 
 he extremely .lesirahle that advantage !.houl.l he taken of tli.^ pr.'sent h.w rate of in'tercKt 
 to plaec the loan, or xueli portion of it a^ the (Joverimiont of Camida mav think reciuiHite 
 on the inarket at as early a day a- possihle, an.l I have aeeordiuKlv to solicit the sanction 
 ol Her Majesty s Oovernment lo tiiat proceeding." 
 
 — No. 8. — 
 
 The Secretary of Stiite f<.r the Colonies to the Lords Commissioners of the 
 
 Treasury. 
 
 My Lords, Do\vniii|T.strcct, 14 July 1808. 
 
 With rL-fercnce lo tlie lettir from this IVpartiiient, dated Hk; IGih of Mav, 
 and in pursuance of the sei!on.l elau-e of the Imperial Act of Parliament, styled 
 " The Canada Hallway Loan Aef, 18G7," 1 have the lionour, as one of Her Majesty's 
 j)rincipal Secretaiies of Slate, to convey to you my approval of the selection as the 
 line in whicli the ruihviiy is to he constructid of the line passiiiij; by the Hay of 
 Chaleur, exploied by ^lajor Ifobinsoii of the Royal Kngiiicurs, and reeommeudcd 
 in his Report dated the 31st of August 1848, presented to botli Houses of Parlia- 
 ment byeouimandof Her Maje-ty in IVImiary 1849, the line so approved by 
 nie to be subject to such nujderate deviations and modifieatiDiis as may prove to 
 be necessary or desirable in the progress of the undert.ikiuj;. I aj)|)end to this 
 Despatch a copy of the Parliamentary paper containing Major Unbinsou's Report, 
 authenticated by my initials, and containing a map wiiicli is also authenticated 
 by my initials, showing the direction of the proposed line. 
 
 I have, Sec. 
 The Lords Commissioners (signed) Buckingham and Chundus. 
 
 of Her Majesty's Treasury. 
 
 — No. 9. - 
 
 Copy of TiiEASURY Minute, dated 15th July 18C8. 
 
 The Chancellor of tlie Exchequer lays before the Board a letter, dated 1 1th 
 July 1868, which he has received from Mr. .lohn Rose, the Canadian Minister 
 of Finance, in which he submits a statement of the terms and conditions, under 
 which it is proposed by the Canadian Government to raise the loan for the sum 
 of 3,000,000 I, for the construction of a railway conneciim; Quebec and Halifax, 
 interest on which amount at the rate of 4 per cent, was <,'uarAnteed by the Aet, 30 
 Vict. c. IG, together with a form of bond by which the guarantee of Her 
 Majesty's Government may be carried into etlect. 
 
 The Chancellor of the Exchequer states that in consequence of this communi- 
 cation an interview took place between himself and Mr. Rose, who was accom- 
 panied by Mr. T. Baring, m.p., and Mr. G. Glyn, m.p., the agents of the 
 Canadian Government, in the presence of the Secretary of State for the Colonies, 
 the Financial Secretary to the Board, and Sir A. Spearman, and that, after full 
 
 272. ' C conBideration, 
 
 ■w-\ 
 
 tiil 
 
 Vf 
 
 I:: 
 
18 
 
 STATEMENT OF PROCEEDL\(JS UNDER THE 
 
 consideration, it appears to bini that ihc temi;* proposed for tlie sevenil loans of 
 3,000,000/. and 1,000,000/., to be raise*! under the provisions of the bofore- 
 mentioned Act, arc unobjeitionable ; and ho, tlierel'ore, recomniendt< to titc Board 
 that their tinara'iteu slioiild Ix- >i\v>n fi)r the pavnient of interest, at the rate of 
 4 percent on the sum of 3,000.000/., iti accordance with the form <tf bond or 
 debenture, annexed to Mr. Rose's c )inninnicaiion. 
 
 My Lords huvc In-forc theni tlie Act 30 Vict. c. 16. My Lords liave also 
 before them tlie follywin^ letters iVoni tlie Colonial OHice, viz. : — 
 
 iith Fehruary IHfiH, enclosinjj an .Act of the Canadian Legislature (31 Vict. 
 c. 13) respecting; the construction of •' 'i'he Intercolonial Railway," by which 
 provision i^ niaile for carryini; out the provisions contained in the 2iid and 3rd 
 sections of the heforc-inentioned Act, 30 Vict. c. 16. 
 
 I6th May 1868, st.itinp that the Jjccretaiy of State is of opinion that in case 
 thu line of railway by the Bay of Chiileur is adopted, Her Majesty's Governnient 
 should accept the provision made by the Canadian Aef, 31 Vic), c. 13, of the 
 sum of 1,000,000 /., in addition to the sum of 3,000 000 /., as sufficient for the 
 purpo-e ; and of I4lh instant, conv( yins; tiie approval of the Secretary of State 
 of the selection, as the line in wliich the railway is to be constructed, of the line 
 passing by the Bay of C'haleur, recommended by Major Robinson, u.e , in his 
 Report of 31st August 1848. 
 
 My Lords have also before them the letter from the Colonial Office, of 1st 
 instant, enclosing; copy of a Despatch from the Governor General, reporting the 
 appointment by t! e Canadian Government of Messrs. Baring and Glyn as trustees 
 for the sinking fund of the loan of 3,000,000 /., under the provisions of tlie Act, 
 30 Viet. c. 16. 
 
 My Lords concur in the recommendation of the Chancellor of the Exchequer, 
 and desire thiit a letter be addressed to the Honourable John Rose, stating that 
 they have no objectitm to offer to the term.s (as per enclosed statement No. 1) on 
 which it is proposed by the Governor of Canada to raise the sum of 3,000,000 /., 
 muler the i^rovisions of the Act 30 Vict. c. 16, and that they are prepared to 
 guarantee ti'.e payment of interest at the rate of 4 per cent, on the said sum of 
 3,000,000 /., in accordance with the tei ms of the enclosed bond or debenture. 
 
 Stale that my Lords have appointed the Permanent Secretary to the Board, 
 Mr. G. .'\. Hamiltcm, to carry into effect the guarantee on behalf of the Board, 
 and that each bond or debenture should be submitted to this Department in 
 order that his signature may be attached thereto. 
 Prepare warrant accordingly, appointing Mr. Hamilton. 
 
 Acquaint Colonial Office, and state that my Lords propose to appoint Sir F. 
 Rogers, fhe Permanent Secretary to the Colonial Office, and Mr. William Law 
 the Auditor of the Civil List in this office, as trustees to the Sinking Funu 
 on behalf of Her Majesty's Government. 
 
 — No. 10. 
 
 Copv of Treasury Warrant, dated 20th July 1868, authorising Mr. Hamillon to 
 sign Canada Intercolonial Railway Loan Bonds ; and appointing Sir F. Roger* 
 and Mr. Law Trustees of Sinking Fund. 
 
 After our hearty commendations : 
 
 Whereas, by an Act passed in the 30th year of Her Mfgesty's reign, entitled 
 " The Canada Railway Loan Act, 1867,'* it was enacted, That the Commis- 
 sioners of Her Majesty's Treasury may guarantee, in such manner and form as 
 they think fit, payment of interest at the rate not exceeding 4 per cent, per 
 annum, on any principal money not exceeding the sum of 3,000,000 Z., to be 
 raised by way of ioau by the Government of Canada, for the purpose of the con- 
 struction of a railway connecting Quebec and Halifax ; and the Commissioners 
 of Her Majesty's Treasury may from time to time cause to be issued out of the 
 Consolidated Fund of the United Kingdom, or the growing produce thereof, any 
 money required for giving eifect to such guarantee. 
 
 And whereas an Act of the Parliament of Cimada has been passed providing 
 for the construction of the said railway, for the raising, appropriation, and ex- 
 penditure of the said loan of 3,000,000 /., for chargng the Consolidated Revenue 
 
 Fund 
 
/ol» 
 
 CANADA RAILWAY LOAN ACT. 
 
 »5 
 
 1^ 
 
 1 ; 
 
 )an8 of 
 bolore- 
 
 Board 
 
 nite of 
 lond or 
 
 ,ve also 
 
 11 Vict. 
 f wliich 
 iind 3rd 
 
 t in case 
 ernment 
 . of the 
 ; f(ir the 
 of State 
 I the line 
 ,E , in his 
 
 L-c, of Ist 
 n-tinj; the 
 IS trustees 
 ■ tlie Act, 
 
 Ixchiquer, 
 tilting that 
 No. 1) on 
 000,000 1, 
 •epared to 
 laid sum of 
 jenture. 
 tlie Board, 
 the Board, 
 iartnient in 
 
 loint SirF. 
 illiam Law 
 Ling Funa 
 
 familton to 
 • F. Rogers 
 
 \ra, entitled 
 Commifl- 
 Ind form as 
 fir cent, per 
 koO /., to be 
 I of the con- 
 nmissioners 
 out of the 
 Jhereof, any 
 
 providing 
 In, and ex- 
 Id Revenue 
 Fund 
 
 Fund of r im\& with tlie principal and interest of tlie saiii loan, for the pnvmrnt \ 
 byway of Shiking Fund ot an nnuual sum, at tlic rate of | per ernt. per annum 
 on the entire aniouiit uf ]irinci|>al mom y whereon inteiest is fju;iraiitt'ed, and 
 for charging the same on the said Cousolidateil lU-venue Fiimi, ami in nil other 
 respects providing lor the coiulitiims pre-i rihed hy thi- Imperial Act ahuve- 
 mentioned. 
 
 And whfTCiis the line in which the railway i< to lie constructed has Iwen 
 approved hy ller Majesty's Secretary of Siate lor the L'oh)nie8 ; 
 
 N(tw, wi', hi'ing two of the Lords Commissiuners of ller Majesty's Treasury, 
 do authorise and empower George Alexander Hamilton, Escp, the I'eiinanent 
 Secretary to this Board, lor us and in our name to guarantee the due p;i\menl of 
 the interest of 4 p<T cent, on the said loan so contnicted as aforesai)!, and g( ne- 
 rally to do all acts, matters, and thint^s, necessary fur i tltciing suili guaiautec as 
 aforesaid ; so, nevertheless, that all such acts, matters, and things, shall he in all 
 respects contormuhle with the provisions of llie afonsaid Act. 
 
 And we do further appoint Sir Freiltric Rogers, Bart., Pernianent Under- 
 Secretary of State for ihu Colonies, and William Ijaw, I'stp, Auditor of the Civil 
 List and Assistant to the Secretaries to this lii ard, to he Tni^ltes of the Sinking 
 Fund of the said loan, in acconlance with the provisions of the afore^-aid .Act. 
 
 Whitehall Treasury Chamhers, this 20lh day of July 1868. 
 
 G. G. Moiitijomeri/. 
 Ileniy U hitiiKin:. 
 
 — No. II.— 
 The Honourable J. Rose to the Secretary to the Treasury. 
 
 Sir, 
 
 Lond.m, 16 .hilv 1868. 
 
 OIF, ^^ . . 
 
 I HAVE the honour to acknowledge receipt of your eoinmuuication ot the 
 15th instant, mforming me, by direction of the Lords Commissioners of Her 
 Majesty's Treasury, that their Lordships have no objection to ofi'er to the pro- 
 posed mode of raising the loan for the construction of the Intercolonial Railway, 
 and that they are prepared to guarantee interest on the sum of 3,000,000 /. 
 sterling in the manner staled in your letter, and that Mr. G. A. Hamilton, the ; 
 Permanent Secretary of the lioard, has been appointed to sign the bonds wlieu ; 
 forwarded to the department. 
 
 Permit me, in reply, to express my grateful acknowledgments, hotli on my | 
 own part and on behalf of the Government of Canada, for the great courtesy and -, 
 promptitude which the Chancellor of the I'.xchequer and the Lords Commis- \ 
 bioners so kindly evinced in the course of their recent negoeiations, and for their : 
 readiness to meet the wishes of the Government of Canada. 
 
 The bonds will be forwarded, in accordance with your instructions, to the 
 Secretary of the Treasury as soon as they are received from Canada, through 
 Messrs Baring Brothers k Co., and Messrs. Glyn, Mills, Currie, & Co., the 
 financial agents of the dominion in England, ami will be countersigned by one 
 or other of "those firms in evidence of their genuineness. 
 
 I hr.ve, &c. 
 G Sclater-Booth, Esq., m.p. (signed) John Rose, 
 
 ^' ^ ' Finance Minister, Canada. 
 
 — No. 12. — 
 Mr. T. F. Elliot to the Secretary to the Treasury. 
 „. Downing-street, 17 July 1868. 
 
 1 AM directed by the Duke of Buckingham and Chandos to acknowledge the 
 receipTofyctr letter of the 16th instant, and to request that you «'ll «»te to 
 rtrds 'commissioners of the Treasury that h.s Grace concurs w^th^theu 
 
 272. *"* 
 
 !i 
 
 \\ 
 
 
 ! i 
 
Ift"^^ 
 
 H 
 
 STATEMENT OF PROCEEDINGS UNDER THE 
 
 Lonlsliips in the selection of Sir F. Rog:t'r8 and of Mr. Law to be tlie trustees 
 for Her Majesty's Government of tlie ^inkiii}; fund of the ionn of 3,000,000 /., 
 to be raised tor the construction of tiie Intercolonial Railway in Canada. 
 
 The Secretary to the Treasury. 
 
 I am, &c. 
 (signed) T. Fred. Elliot. 
 
 — No. 13. — 
 Mr. T. F. Elliot to the Secretary to the Treasury. 
 
 Sir, Downing-stroet, 13 October 18G8. 
 
 I AM directed by tlie Duke of Buckingham and Chandos to transmit to you, 
 for the consideration of the Lords Commissioners of the Treasury, the enclosed 
 copy of a letter from Messrs. Baring and Glyn making inquiry relative to the 
 time of making the first investment on account of the siniiing fund of the Canadian 
 Intercolonial Loan. 
 
 I am to request to be favoured with their Lordships' opinion on the proper 
 course to be taken on this subject. 
 
 J am, &c. 
 
 The Secretary to the Treasury. (signed) T. Fred. Elliot. 
 
 Enclosure in No. 13. 
 
 Gentlemen, London, 2 October ] 868. 
 
 "VVe arc inforined by the ^linister of Finance of Canada that you have been appointed 
 by Her Miijcsty's Government to act conjointly with Mr. Thomas Baring and Mr. George 
 C. Glyn as trustees for the linking fund of the Canadian Intercolonial Loan, and we are 
 requested at the same time to inquire when you think that the first investment should be 
 made on account of this fund. 
 
 We shall be glad to learn your views on this siibject, and in the meanwhile 
 
 We have, &c. 
 Sir F. Rogers, Bart., William Law, Esq., (signed) Baring Brothers §• Co. 
 
 Trustees of the Sinking Fund Glyn, Mills, Currie, §• Co. 
 
 of the Canadian Intercolonial Railway Loan, 
 DowninK-strect. 
 
 — No. 14. — 
 
 Mr. G- A. Hamilton to the Under Secretary for the Colonies. 
 
 Sir, Treasury Chambers, 24 October, 1868. 
 
 The Lords Commissioners of Her Majesty's Treasury have had before them 
 your letter of the 13th instant, enclosin<; copy of a letter from Messrs. Baring 
 Brothers, and Glyn, Mills, Currie, & Co., making inquiry relative to the time 
 of making the first investment on account of the sinking fund of the Canadian 
 Intercolonial Loan. I am to state, for the information of the Secretary of State, 
 that, as by the terms of the loan the bonds bear interest from 1st July last, and 
 by the provisions of the third section of the Act 30 Vict. c. 16, the payments 
 on account of sinking fund are directed to be made half-yearly, my Lords are 
 of opinion that the first half-yearly payment should commence on 1st January 
 1869, at the rate of 105. per cent, on the whole of the amount raised under the 
 provisions of the above-mentioned Act on which interest is guaranteed. 
 
 The Under Secretary for the Colonies, 
 &c. &c. &c. 
 
 I am, &c. 
 (signed) Geo. A. Hamilton. 
 
o^\ f 
 
 CANADA RAILWAY LOAN ACT. 13 
 
 — No. 15. — 
 Sir F. Rogers t<i the Secretan- to tlit- Treasurj-. 
 
 Slr» Downiiig-street, 1" December I8fi8. 
 
 I Ail ilirected by Earl Gnunille to transmit to you, to be laid before the 
 Lords Commissioners of the 'In asnry, with reference to former corrispondence, 
 the enclosed copy of a letter from Me>srs. Baring Brothers & Co., respecting: the 
 arningcments to lie made for the periodical investments on account of the 
 sinking fund of the Canadian Intercoloniid Railway Loan. 
 
 I am desired to request to be intbrru;i| of the answer wiiicli their Lordships 
 would recommend should be returned to this letter. 
 
 The Secretary to the Treasury 
 
 I am, &e. 
 
 (signed) Frcdfiic Rogers. 
 
 proper 
 
 Enclosure in No. i5. 
 
 Messrs. Bariiit/ Bmlhers to Sir /'. Rngtrt. 
 
 8, IVishopsj^ate-strect Within, London, 
 Sir, 16 Deceinhrr 1H68. 
 
 We are instructed, in conjunction with Messro. Glyn, Mills, Currie, & Co., aa financial 
 agents of Canada, to communicate witli you and Mr. Law respecting the arrangements 
 which it may be desirable to make for the periodical investments on account of the 
 sinking fund of the Canadian Intercolonial Radway Loan. 
 
 We are prepared, by instructions of the Minister of Finance, to hand over to the 
 trustees of the sinking fund bonds of Nova Scotia, New Brunswick, or the dominion of 
 Canada, and as you are aware all now f<3rm a direct liability of the dominion, for the 
 value of 7,500 /., the amount to he invested on the 1st January next, and we trust that 
 this arrangement will meet the approval of the Lords Commissioners of Her Majesty's 
 Treasury ; we shall be glad to learn your views as to the arrangement to be made for 
 the safe custody, under the joint control of the four trustees, of the securities purchased 
 from time to time on account of he sinking fund, and for the collection and reinvestment 
 of the dividends thereon. If yi.a think it desirable to have any personal communication 
 on the subject, Mr. Thomas Baring, one of the trustees apjrainted by Canada, will call 
 upon you on learning when it will be convenient to you ; Mr. G. C. Glyn, the other 
 trustee, is not within reach at present. 
 
 We have, &c. 
 (signed) Barini/ Brothen jj* Co. 
 Sir Frederic Rogers, Bart., 
 &c. &c. &c. 
 
 Vt, 1868. 
 (fore them 
 Baring 
 J the time 
 Canadian 
 of State, 
 last, and 
 payments 
 I Lords are 
 |st January 
 1 under the 
 
 ianulton. 
 
 — No. 16.— 
 Mr. G. A. Hamilton to the Under Secretary for the Colonies. 
 
 Sir, Treasury Chambers, 29 December 1808. 
 
 The Lords Commissioners of Iler .Majesty's Treasury have had before them 
 your letter of the 17th inst., enclosing copy of a letter from Messrs. Baring 
 Brothers & Co., respecting the arrangements to be made for the periodical 
 investments on account of the sinking fund of the Canadian Intercolonial 
 Railwav Loan. 
 
 I am' to state, for the information of Earl Granville, that my Lords have no 
 objection to offer to the arrangements proposed by Messrs. Barinj; to hand over 
 to the trustees, bonds of Nova Scotia, New Bnmswick, or the dominion of 
 Canada, to the amount of 7,500 /., the amount to be invested on Isl January 
 
 next. , , , „ 
 
 I am to add that the bonds should be delivered into the custody of the Governor 
 and Deputy Governor of the Bank of England, who will be instructed to open 
 
 ^ o an 
 
 372. c 3 "" 
 
^^"^ 
 
 i(i STATEMENT OF PROCEEDINGS UNDER THE 
 
 an account in the names of the trustees; and that the trustees should give a power 
 of attorney to the cashiers of the Bank to receive the dividends on the said bonds, 
 and reinvest them under the directions ot the trustees. 
 
 'J'lie Under Secretary for (he Colonies, 
 &c. &c. &c. 
 
 I um, &c. 
 (sij^ned) Geo. A. Hamilton. 
 
 
 hF\i 
 
 — No. 17. — 
 
 Mr. G. A. Hamilton to the Governor and Deputy Governor of the 
 
 Bank of England. 
 
 Gentlemen, Treasury Chambers, 29 December 1868. 
 
 I AM directed by the Lords Commissioners of Her Majesty's Treasury to 
 acquaint you, that their Lordships have received from the Colonial Orfice a 
 communication from Messrs, Baring Brothers & Co., respecting the arran}j;ement8 
 to be made for the periodical investments on account of the sinking fund of the 
 Canadian Intercolonial Rsiilway Loan. 
 
 Messrs. Baring Hrothers propose to hand over to the trustees of the sinking 
 fund bonds of Nova Scotia, New Brunswick, or the dominion of Canada, to the 
 value of 7,500/., the amount to be invested on January 1st next. 
 
 Their Lordships have no objection to this arrangement, and are of opinion that 
 the bonds should be delivered into your custody, and I am, therefore, to instruct 
 you to open an account in the names of the trustees, who will give a power of 
 attorney to your cashier to receive the dividends on the said bonds, and reinvest 
 them under the direction of the trustees. 
 
 I am, &c. 
 
 The Governor and Deputy Governor (signed) Geo. A. Hamilton. 
 
 of the Bank of hngland. 
 
 P. IS. (The account should be opened in the names of Sir Frederic Rogers, 
 Bart., Permanent Under Secretary of State for the Colonies ; William Law, 
 Esq., Auditor of the Civil List, and assistant to the Secretai'ies to this Board ; 
 Thomas Baring, Esq., and George Carr Glyn, Esq., trustees on behalf of Her 
 Majesty's Government, and of the Government of Canada). 
 
 — No. 18. — 
 
 The Chief Cashier of the Bank of England to Mr. G. A. Hamilton. 
 
 Sir, Bank of England, E.C., 30 December 1868. 
 
 I BEG to acknowledge the receipt of your letter of yesterday's date, 
 and to inform you that an account has been opened in the names of the 
 trustees of the Canadian Intercolonial Railway, viz. : Sir Frederic Rogers, Bart., 
 Permanent Under Secretary of State for the Colonies, William Law, Esq., 
 Auditor of the Civil List, and assistant to the Secretaries of the Treasury ; Thomas 
 Baring, Esq., and George Carr Glyn, Esq., trustees on behalf of Her Majesty's 
 Government, and of the Government of Canada. 
 
 The Bank will be prepared to receive the securities you mention, and, under 
 I instructions from the trustees, to collect and invest the interest as it accrues. 
 
 I am, &c. 
 G. A. Hamilton, Esq. (signed) George Forbes, 
 
 Chief Cashier. 
 
/o^>' 
 
 give a power 
 e said bonds. 
 
 Hamilton. 
 
 of the 
 
 mber 1868. 
 s Treasury to 
 onial Ortice a 
 arian<;ement8 
 ig fund of the 
 
 ,f the sinking 
 Canada, to the 
 
 )f opinion that 
 9re, to instruct 
 70 a jjower of 
 s, and reinvest 
 
 A. Hamilton. 
 
 ederic Rogers, 
 William Law, 
 this Board ; 
 behalf of Her 
 
 CANADA RAILWAY LOAN ACT. 
 
 — No. 19. — 
 
 «7 
 
 Mr. G. A. Hamilton to tlie CJovt-rnor an<l Deputy Governor of the Bank of 
 
 England. 
 
 Gentlemen, Treasury (hainlicrs, n Jimuary 18H9. 
 
 I AM directed by the Lords Conunissiomrs of Her Majesty's Treasury to 
 acquaint you, with reference to your letter of tlio .noth ultimo, in which you state 
 that an account has been ii]>encd in the nanie^ of tlie trustees of the Canadian 
 Intercolonial Railway Loan, that Messrs. Barinjj it Co. iiave informed my Lords 
 of the payment to the Bank of England of 7,500 /., as the first investment on 
 account of the sinking fund of this loan. 
 
 I am to request, with reference to my letter of the 2()th ultimo, that the 
 necessary power of attorney may l)e forwarded for the signature of the trustees, 
 in order that the necessary investmei.is may be made in accordance witli the 
 instructions contained in that letter. 
 
 1 am, &c. 
 The Governor and Deputy Governor (signed) Geo. A, Hamilton. 
 
 of the Bank of England. 
 
 — No. 20. — 
 Memorandum. 
 
 In pursuance of the authority conveyed to him by Treasury Warrant, dated 
 20th July 1808, Mr. G. A. Hamilton, Permanent Secretary to the Treasury, has 
 attached his signature, testifying the guarantee of the Lords Commissioners of 
 Her Majesty's Treasury to the payment of interest on bonds issued by the 
 Government of the dominion of Canada, to the extent of 1,500,000/., being one 
 moiety of the sum of 3,000,000 /. authorised to be guaranteed by the said Act- 
 
 This proceeding took place on different occasions between Ist January and 
 31st March I860. 
 
 vnillon- 
 
 jmber 1868. 
 [terday's date, 
 names of the 
 I Rogers, Bart., 
 Law, Esq., 
 Lsury ; Thomas 
 JHer Majesty's 
 
 [on, and, under 
 lit accrues. 
 
 I Forbes, 
 Ihief Cashier. 
 
 272. 
 
 6 4 
 
,.v" 
 
 M 
 
 ^ 
 
 I 
 
 S S 
 
 n 5g 
 
 I