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kss o CA« T'if: I ORTARKHiS LESSLATUSE Inv in mm n @gzmm mm name: THWIRD PARLAMEXT------SES0OHD SESSI0A. mevoumenn@umersmeqh C t Tuxs® ab 27. FIR3T SITIING,~ The Spoaker took the chalr at 3 o'clook, REPORT BY COMMITIEE, Mr. Ccoutts prerented the report of the 'Belect Ocmmliteo on the Bill respepting CEriicage in certa'ln municipalities, RETURNS, Mr, Wood presented a return of munloipal iBatisilca of the Provizca ol Ontario for 1875. Also--Musicipal Loan Fand Surplas Dis-- Sribution Schsdules, showing the objeots to which the fasd has been appropriatsd by by--lawr, and she payments made upon the same to the let of Noavember, 1876, TORONTO STREET RAILWAY, On the order for the thi--d roodhg of the Bill rerpeoting the Toronto Streot R--~'lway, Mr,CAMERON moved, "That the order be discharged, and that the House go into Com-- mitsee of the Whole to make an amenudmant which had been agre:d to by the partion, to the eff--ck that the city of Toroato would bear the cont of any new kird of pavement over $2 50 per square yard," The motion was carslod. The House went into Committee and adopted tha propseeA amondmart _ The Commitiee then rose and reported progrest, RAILWAY AID, » Mr, PARDEE moved that the repor§s of the Committse on the resoluations respecting railway atd be concarred in, Mr, MEREDITH moved in amendment the recommitsal of the Bill to Committee to atrike out the clause which provides for the anting of ald to the Credis Valiey Rallway, Eo contended that the financial basis of that rcad as presented by tho Company itself was not such as to justify the expectation that the road would be bullt. The gracting of the CGovernment aid would result in the Company asking further sums from the munlolyalitios without ary guar» anteo that the road would pry when built. The House should never have granted aid to m ra'lway running through the section of counbry through which ihe Oredit Valley parssd, ay it was already well supplied with rallways, some of them being in an embar. rarsed pesition, He feared that the result of building so many railways would be that many of th:rm would be obliged to repudlate their obligations, Mr, PARDEE sald that the principle that & reasonatle financial basis shoald be shown bfi a read bsfore it should recelve ald had a lloaf been recognized by the Govern. ment, I+ wes some years sinos the Oredit Valiey erterprise had firast bsen launohed, d'ltl; tbat' t!m'a nlldny b.lédl oouldhl:!rudfly posed of, and the Company 6 ¥eason to SHink that they would be ublov"t'o negotlate their bonds tor an amount thas would enable them to bulld the rord. Aoct. ing on that belief they had a plied for Gov-- eroment ald and for bonuses gom the muni. cipalitier, anrd the musloipal aid had been very liberaliy granted Munloipal mon? Bo theextsut cf$1,000,000 had been expended, Birce that time a great cbange had taken Blace, and it became a matter of some difi. culty to uegotiate railway seourities, If Uhis were a new schome, the L:'hhhn fl.'fl" be cautious before thinking alding road on the atrength of is bonds, The Company zow showed that the time had some when the crisis in rallway matters had about passed over, and that they were able to ncgotiate their bouds to the exient of $7,500 per mile, _ It should be romembered that is was nok protesded tkat the Com. !:ny skould boy thoir rolllng stook, $ they intonded to lease it, which would re-- duce the coat conalderably. _ Amuming that the Company were H{ht--tlui a favourable change bad trken piace in rallway affairs; %hat they could realizs to the extent of $7,500 per mils out 0 $10,000 of their bonds, then there was good grcound for the belief Bhat they would build sheir road. He did not think it wis the duty of the Leglslature to ocnstrus everything againat this rord, in ' : She ';:l of th: hloi that they had erpi n suo sums. _ They should rather give "'tl.um the benefit I of their belie! that they could negoblate the