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 I 
 
To 
 
 The Honorable the Legislative Council of the Province of Canada, in Parliament 
 assembled : — 
 
 The Petition of THOMAS GALT, of the City of Toronto. Esquire, 
 HUMBLY SHEWETH : 
 
 That your Petitioner is the representiitivo of the London Committee of Bondholders of the City of 
 Hamilton, and, as such, represents nenrly one hundred and fifty thousand pounds, sterling, of such 
 Bonds. 
 
 ^m 
 
 That the scale and terms of payment of the reduced interest, as mentioned and set forth in the 
 Bill now before your Honorable House, were settled by your Petitioner, in concert with Robert Cassels, 
 of the City of Toronto, Esquire, afteir a careful examination of the affairs of the City of Hamilton ; and 
 your Petitioner satisfied himself that, under existing circnmotances, it was to the advantage of his 
 clients to assent to a Bill reducing the rate of interest, upon the terms mentioned and set forth in the 
 Bill now before your Honorable House ; and your Petitioner was authorized to sign a Petition in favor 
 of said Bill, "-' icli your Petitioner did, and which Petition is now before your Honorable House. 
 
 That, from the knowledge which your Petitioner has of the circumstances of many of his clients, 
 he is satisfied that the amendment to said Bill now before your Honorable House, whereby the proposed 
 rate of interest is to bo i-educed to three in place of four per cent., is one which will press with great 
 hardship upon them, as they are to a great extent dependant upon the punctual payment of the interest 
 and upon the present amount of it for their incomes ; and no future increase will compensate them for 
 the inconvenience they will suifer from the proposed reduction. Your Petitioner is also of opinion that 
 the increase proposed, after the expiration of fifteen years, from five to seven per cent., will, together 
 with the Sinking Fund provided for by the Bill now before your Honorable House, amount to a sum 
 which it will not be in the power of the City of Hamilton to pay. 
 
 * Tour Petitioner, therefore, humbly prays that the said amendment may not receive the tanetion. of 
 your Honorable Mouse. 
 
 And, as in duty bound, your Petitioner v/ill ever pray. 
 
 THOMAS GALT. 
 
 *TLis elftUEo in Italics, (being the prnycr of the Petition.) wag in Mr. QrU's original draft, but wtw accidentally omitted 
 b copying the Petition for Legialalive Council.