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& COMPILATION OF ALL RAILWAY CHARTERS GRANTED, WITH THE AMENDMENTS
THERETO, UP TO AND INCLUDING THE SESSION OF 1883
WITH A COPIOUS ALPHABETICAL INDEX
R. J. BRADLEY, ADVOCATE
SECRETARY OF THE BAR OF QUEBEC
An act for authorizing a Guarantee of Interest on a Loan to
be raised by Canada towards the construction of a Railway connecting Quebec and Halifax.
(12th April, 1867.)
VHEREAS the construction of a railway connecting the
V port of Rivière du Loup, in the province of Quebec, with the line of railway leading from the city of Halifax, in the province of Nova Scotia, at or near the town of Truro, in a line, and on conditions approved by one of Her Majesty's principal Secretaries of State, would conduce to the welfare of Canada and promote the interest of the British Empire :
And whereas it would greatly facilitate the construction of that railway (in this act referred to as the railway) if payment of interest on part of the money required to be raised for the same were guaranteed under the authority of Parliament:
Be it therefore enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the lords spiritual and temporal, and commons, in this present parliament assembled, and by the authority of the same as follows:
1. Subject to the provisions of this act, the commis. Power for trossioners of Her Majesty's treasury may guarantee, in such sury.com.ua manner and form as they think fit, payment of interest at a on loan. rate not exceeding four per centum per annum on any principal money not exceeding the sum of three million pounds sterling, to be raised by way of loan by the government of
The Canadian Railway Loan Act, 1867.
Canada for the purpose of the construction of the railway; 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 effect to such guarantee.
Approval of 2. The commissioners of Her Majesty's treasury shall not ling and use of give any guarantee under this act unless and until an act railway for troops, &c. of the parliament of Canada has been passed, within two
years after the union of Canada under the British North
1. For the construction of the railway :
jesty's military and other service:
Raising and 3. The commissioners of Her Majesty's treasury shall not
'sury, as follows:
purpose of the construction of the railway of a loan
annum: 2. For charging the consolidated revenue fund of Canada
with the principal and interest of the loan immediately after the charges specifically made thereon by. sections one hundred and three, one hundred and four, and one hundred and five ot the British North
America Act, 1867: 3. For the payment by the government of Canada by
way of sinking fund of an annual sum at i he rate of one per centum per annum on the entire amount of principal money whereon interest is guaranteed, to be remitted to the commissioners of Her Majesty's treasury by equal half-yearly payments in such manner as they from time to time direct, and to be in. rested and accumulated under their direction in the names of four trustees, nominated from time to time, two by the commissioners of Her Majesty's treasury · and two by the government of Canada, such sinking The Canadian Railway Loan Act, 1867.
ag the cof the sinkin, he luan;
fund and its accumulations to be invested in secu-
terest is guaranteed ;
with the amount of the sinking fund immediately after
the principal and interest of the luan;
with any sum issued out of the consolidated fund of the
after the sinking fund;
and interest of the loan, and all sums issued out of the
guarantee by the commissioners of Her Majesty's trea-
account to be laid before
4. There shall be laid before both houses of parliament, Statement and
within fourteen days next after the beginning of every
5. This act may be cited as The Canada Railway Loan Short title.