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Guarantee Act
The ''Railway Guarantee Act'' was introduced in the Parliament of the Province of Canada by Finance Minister Francis Hincks, who was also the President of the Great Western Railway (Ontario), Great Western Railway of Canada. The Act encountered little opposition during the course of its passage, despite the prevailing Panic of 1847, depression. It empowered the Government to guarantee the interest on loans to be raised by any railway chartered by the Legislature for the construction of any line at least 75 miles long within the Province, provided that: #the rate of interest guaranteed did not exceed 6% #the sum on which the interest was guaranteed did not exceed the amount expended before the guarantee was given, and should be sufficient to complete the construction in a fitting manner (provided that no such guarantee would be given until at least half the line was completed) #the payment of the interest guaranteed would be the first charge on the tolls and profits of the company ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Province Of Canada
The Province of Canada (or the United Province of Canada or the United Canadas) was a British North America, British colony in North America from 1841 to 1867. Its formation reflected recommendations made by John Lambton, 1st Earl of Durham, in the Report on the Affairs of British North America following the Rebellions of 1837–1838. The Act of Union 1840, passed on 23 July 1840 by the British Parliament and proclaimed by the Monarchy of Great Britain, Crown on 10 February 1841, merged the Colonies of Upper Canada and Lower Canada by abolishing their separate parliaments and replacing them with a Parliament of the Province of Canada, single one with two houses, a Legislative Council of the Province of Canada, Legislative Council as the upper chamber and the Legislative Assembly of the Province of Canada, Legislative Assembly as the lower chamber. In the aftermath of the Rebellions of 1837–1838, unification of the two Canadas was driven by two factors. Firstly, Upper Canad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
