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from th: Moutrual Board of Trade is in town, txgoufr wi i th» proper aushorities on maiâ€" ters pertaining to trade and commerce. TusGitaod Trunk Asiway Arrangoments ’ publisher. _ ‘The toss u Bill was before the & Committoo yes. would be still greater torday. C. J. Brydgos, Eq., inaide a statement | Doseq Sfthems for it the au of the objects contemplated by the Bill, and | be more apt to tike it o :-.n::‘-hu-m.m ommtment. . After :“p-:l:-:« '“'i‘q“fhn aAjourned until toâ€"morrow . sew ; paid. _ ‘_"':"'N‘_:J:‘:"‘: for the world‘s traffic, | and the Pacific Ocean« Space loâ€"day vi:m permit us to enter into the detmis of Mc. W anpixatox‘s project, , shall take an eirly opportunity of mfi“w our readers, illastratâ€" ~Ing the feasibility ofestablishiny, at a comâ€" paratively small cost, direct ani easy comâ€" munication between this country and the Pacific Colonies. â€" In the meantume we think that every possible encouraÂ¥ement should be . extended to Mr. Wanbtxorox‘s enterprise by the Guovernment ami the publicaw( this cwnâ€" try, as its complete success will have an imâ€" portantinfinence in piving the way for the sonsolidation of the whole uf British North Ameriga â€"under one Govermnment, ani conâ€" vincing the worl! of the practicability of m._nudn territory, a highway MP* MUrs. Brown is coming to Ottawa from this side . _The mere fact that a project is on foot -u-numqu-.u..‘ campletion, of establishing a practicable line of truvel from the Rocky Mountains to the Pucific Ocean, ought to stimulate the Govâ€" eramient and people of Canada to push on the ** Western extenaibgq" to make the connection $ id repotting. upon * through the comst range of mountains to «* Cariboo. After a conmderable outiay ot 'hfl“&&.mnmliq. 5* .««« A feasible pass to the open country was ,%nuauw & ascertained to be the best natur 9& on the mainland,. between San w ana i the North Pole." Mr Wapâ€" pixzoros thereupon started a working party, set upon and murdered by Indians in April 1864. Though this melancholy mishap‘ reâ€" -ddlhmdm-erkfu.fim,bo did not abandon the project ; he has since ob tained a new charter, with power to extend e»nmmunication to the base of the Rocoky Mountains, where it is to be hopel the work will be mat by Canadian enterprise through the Northwest, so that an uninterrupted chain of lasd and water scommunication may fairly establighed from the Atlantic to the hfl&-fiu’m established for the railway line which must at no very dis tant time be extended to the shores of the furâ€" | Mowtasas Boaso or 'mu‘mmfiflg:\l'iwam capi tal, has projected, and to a cousiderable ex tent darried out, the establishment of a wagâ€" gou rad from Bute Inlet to Cariboo. The Colonist, after reciting many of his public the colopny, says « Years ago, beâ€" :.E;mihh_olindcuui.. States *# mem had fairly entertained the scheme of «* Contederating the North American colonies “ula.o“mowm.,m "mdg Bute Inlet Waggon Road «* was ped, at ‘his own expense, in «* equipping and despatching . bodies of * explorers, who were chargel with the " mem had fairly entertained t «* Contederating the North Amer * under one strong Central Gov “*‘fimw * was employed, at his own «* equipping and â€" despatching * explorers, who were charge the 19th October last, is now in this city, en route tor England, on business connected with a subject of vast importance to this Doâ€" minion, the consideration of which very apâ€" propriately is suggested by the fact that the resolutions proposing the incorporation of the Nortih West Territory with Canada, are now under the consideration of Parliament and engaging the earnest attention of the press and the public. * North West extension‘‘ is an old project in Canada, and its realisation, in the early fature, is one of the essentials to the success of Confederation. . Mr. Waporsoâ€" Tow is the representative of an enterprice of a most important charscter, bearing directly upon the of direct sommuniâ€" cation m Provinces and In the Commons the, Committee on priviâ€" leges reported that the Hon. Messrs. J. 8. Macboxaro an! C. Dowktx were duly quali. fied to hold their seats in Parliament. This decision was arrived at unanimously, and is in strict accordance with the interpretation of the law, and the general expectation and deâ€" sire of the public. Nobody desired to see the statesmen who have undertaken the responâ€" sible duty of orgamzing the Local Govern. ments ejected, ipso facto from the Parliament of the Dominion. The Commercial Bank Bill was considered in Commitiee, and at the evening sitting reported and ordered to a third reading today. The‘ resolutions on the Intercolonial Railway Loan Bill were passed through Committee and reported ; re port to be received toâ€"day. The Premier also stated that the Finance Minister would make &um&d.,v;ndt'nflwu adjourned at halfpast gight. Ix the Senate yesterdiy, the second readâ€" ing of the Postal Service Bill engaged the chief attention. The Hon. Mr. Caxrsei1 the Bill. h&mmhqâ€"'.l.lwl-. Lost or Strayedâ€"P. B. Buckley. Auction Saleâ€"H. M:Lean, American Watches, &o.â€"Young & Radford. Her Majesty‘s Theatroâ€"Leah ; the Worsakon. Skates, Skates!â€"T. Birkett. Tasolveht Act of 1964â€"Francis Clomow. mlhm of Fitsroyâ€"W . Taylor CbcOtteawaCimes CitÂ¥y and County Official NEW ADVERTISEÂ¥EN IS Arrsaep Wappixctox, of Victoria, lengthy defence of the provisions of Island, who left that city on Traveg.â€"A deputation , DECEMBER g, 1so1. botween the Atlantic will the names of ments bo Inserted jariously in country offices. Postmasters in the country are a pyr centage upon their collections, away from them the reâ€" welpts cf postage for newspapers, and you deâ€" prive them of an important cnoluuino. venue, which would have to be made uy to _‘y a direct salary paid by the Depart. price of his r, but the p e he has Pais " Thats n ‘another ':‘:‘.,"‘:3,,.5.,....,.."* feature in this system which would work inâ€" to bear it, without producing the slightost advantage to the country. _ It consolidates a portion of the Rw:n:omgnlllng a fow to pay that revenu«, ch, underâ€"the present wu‘uv. Ioull-eh'.lo from the whols peopte, hat udvantage such asystem can by to the Department we cannot conceive. There is no complaint that the Government loses any thing from papers not called for, and if thers b* a loss in this respect, it is trifling in the extrume. ‘Fhe Department could not loss anything, comparatively speaking, under the present system, for the man who takes a paper, is generally willing to pay the postage if he never pays the publisher, And in case ho refuses to.take the~ trom the moa«,nug.anyummm to notify the publisher, who forthwith stops the paper, making the loss insignificant to the Dsâ€" partment, while it falls heavily upon the publisher. _ ‘The toss upon the publisher would be still greater under the proâ€" posed system, for it the subscriber obtains his paper without paying any postage, he would be more upt to take it out of the office, and the publisher would thereby lose, not ouly the Cupetlemaiks oo ECC 7 7 c the tor of the advantages promised by Con: it will not tend to increase their approbation of the new order of things. It will be received with loss favor by the ma whlim once the Proviace of for it imposes an unnecessary and unjust tax upon a class who are the leastable ’-od. We did so simply becauss the proâ€" posed provision was most absurd, unjust, and Impracticable, and did not apprehond tuere was the slightest ‘danger that the Governâ€" ment contemplated the rMo of such a manifost injustice. It was bad caough toâ€"deprive the Maritime Provinces of the great advantages which their leading mon acknowledgo thg country to have received from the free circulation of ncoc:'pen. but to inaugurate â€"a system which no parallel in any civilized country in the world, am» which is objectionable in the highest dy§ree, is still worse; and if this bs [From the Bollorille ldolhgnar.] It appears after all, that the most ob):ctionâ€" l*u‘dlh ne w Prl Billis to be reâ€" tained. All along vo expressed the opinion that the m;ud change in the law compelling newspaper publishers to preâ€"pay pustage on all papers despatched from | their offices, was never contemplated, that the corâ€" respondents who first alluded to it, mast have misapprehended the intention of the Governâ€" of our old friends, were not returned to Otâ€" tawa. With them, along with some of those who have been retarned, the little Province of Nova Scotia would have occupied & proud gfiol, -mud, in the General Legislature ;. the were againat us, and we must be content to make the most of the present maâ€" terial. l W oure i i en n ie e ce and trust thatin time he will be convinced that Union will do something, even for Antiâ€" gonishe. It is a great pity, we think, altoâ€" xether apart from Union or Aotiâ€"Union conâ€" siderations, that such men as Archibald, Henry , I‘elh-ll_,m Shannon, and a few others The m-uhlcos,nnd calm and meaâ€" sured e of Campbell, will, if we misâ€" take not, soon be felt to be a power in Otâ€" tawa. Alfinzh we do not agree at all in the views of our MLI: Hagh McDonald, we were glad to find that he spoke so ably, this respect; for as Nova Scotians wo are of Howe, notwithstanding his gyrations, and to rMuu all but . But if he wants tosilence fs, and everybody else, why don‘the say frankly, " True om‘l said all things, beâ€" cause I thein; but1 yave changed my opinions on this subjeet, and how feel that I was altogether â€"mistaken?" Such a course would be intelligible, and ‘the reason why it has not been taken, is, we rather think, an inâ€" ward feeling that his first belict is the right one, after all, and the one wost likely to beneâ€" fit his country, if practically carried out, So long as he maintains his present attiâ€" wude, he has no chance whatever against the keen, incisive, and most damaging assaults of his formidable adversary, the hou. member bflh-hclndi who has perhaps, as a debaâ€" ter, no superior in the House. ues etecatva arrlr s _ _ EC penr, CC2C0O0g T0 we should think, somewat after the manner ‘that the ghost of Band0 tormented Macbeth. We have beun ancused also of hclding up Mr. Howe‘s incopsistencies with crucl pertinaâ€" city. We have no eruel feeling about us in ME Te Cl ran i ns mt Birtuliine Sn Podraes t id ic ccas think that the quictness of his manner and evenness of his style of speaking rather disapâ€" pointed the Canadians. ‘The G/obe, which is extremely friendly to Mr. Howe, confesses that his speech did not come up to general expectaâ€" tion. Allowance, however, must be made tor the novelty of the situation, and still more for the embarrassing position in which he has placed himselt as regards Union. Dr. Tupper‘s quotations from his Union specches must be a dreadful nightmare upon the honorable MH’. :?o‘t_wml poweis,â€"affecting him, B@" Mrs. Brown is coming to Ottawa antiâ€"Unionists, that the members from Nova Seotia have, so far, by their ability, reflected the bighest credit upon their native Province. Many of them have spoken, and for the most part well, and we doubt not that their weight and influence in the House will be more than equal to their numbers. Great interest was manifested to hear Mr. Howe, at once from the fame of his eloquence and the extraordinary ruu he has taken in regard to Union. .ll!o n}l agree that he spoke well, we rather Tmeataicatâ€"East Lynne was performed at the Theatte again last night, and was reâ€" ceived with similar manifestations ot enthusiâ€" astic approval to those which marked its reâ€" ntation on Monday night. This evenâ€" mm' b-‘p-t. on the boards with a powerful Sare or Laxos ror Taxesâ€"At cleven O‘clock this forenoon, at the Court House, the County Treasurer will sell by public auction lands in this county on which taxes are due for five years. Those having lands seized will no doubt be there, and those wishing to purâ€" chase will do well to be there also. See adâ€" vertisement. . Youxe & Raprorp have just received, per ex. press, a fresh supply of the celebrated Walâ€" tham American watches, in gold and silver eases ; also, a choice lot of the Canada Watch Company of London, England, watches, in gold and silver cases, Inspection invited. Remember the place, 30, Sparksâ€"st. © We reproduce this morning an article from the Halifax Exzpress on the Nova Scotian deleâ€" gation to the Canadian House of Commons, the temper of which contrasts very favorably with that displayed in the gem from the Cas ket which we exbibited yesterday. | It is genâ€" eraily tie case that the worsted party loses his temper, but the rule appears to be rever: ed in Nova Scotia, . east, " Leah ; the Forsaken,* which is one of the most successful tragic dramas of modern times. Mr. Lanergan played in this picce for some sixteen weeks when it was originally perâ€" formed in New York and Philadelphia. It io e o en V â€" on has subsequently been played for two entire seasons at the Adclphi in London. 80 that its character is fully established, and in the hands of the company now here we have no fear for its success. A‘benefit will be: tenderâ€" ed to Mr. Lanergan toâ€"morrow night, for parâ€" ticulars of which see bills and advertisement. Hatirax papers mention the fact of great distress prevailing. among the fishermen of Halifax Countyâ€"particularly at St. Margaret‘s Bayâ€"owing to the casual failure of their fall fisheries alongz shore. It is said that a petiâ€" tion is in cours: of signature for presentation to Parliament with the riew of obtaining some relief. A rixz assortment of Lamps, Chandeliers and Hall Lamps, can be got at the Coal Oil Depot, D. R. Leavens, 73 Sussexâ€"st.â€"597â€"a [From the Halifax hgu-.] ; It must be gratifying alike to Unionists and B@" Ars. Brown is coming to Ottawa oUR MEMBERS aT OTTAwWA. LOCAL NIEWS. THE POSTAL LA W. â€"â€"silh 6 â€"tt.â€" Hou. Mr. MACPAERSON really hoped that his hou. friend would not press lils point of otfl'l‘. Whether the hou; gentleman was _ Hoo,. Mr., TESSIERâ€"The Bill only proâ€" vided for the organization of a D:partment distinct from all other«, and if it went further than this, it could not be amended. ‘Then, as there were no salaries attached to the officers, it could not be said to impose charges, Bills had often buen brought into the Legislative Councilaftecting trade, and even spucifying salaries, but the salaries wore left in blank, to be :m'.fi in by the other branch of the Legisâ€"; lature. 1f all such Bills wets exciuded there would be very little left which this House mud:,‘zllub.uu?-nu deprive the Senate Igflnoo t ought to possess. Hon. Mr. MeCULLYâ€"\W hy the very Union Hon. Mr. MeCULLYÂ¥â€"W hy the very Union Bil!, underâ€" which this Parliament existed, was intro uced into the House of Lords. _‘ < Mon. Mr. TESSIER admitted that if the Bill was tor the regulation of trade it could not ucl1luu here, Hon. Mr. CHRISTIEâ€"Why the hon, memâ€" ber himsulf had said that the classification of vessiels was something in the nature of regulating trade. _ f Hon. Mr. BOTSFORD mail that it the Rdnh raised were cortect,and applied to the ill, they would necessarily be tatal, but he did not attach much 'u‘rh‘ to them.. Thef Bur did not i-p’oq any distinct change on the people,. " It did‘ not impose restrictions on trade, and it eteated no satary, and ha thereâ€" fore thought that the course followed was corâ€" teot. T Hon. Mr. STEEV ES said that alretly two or three specches Lad been made since the point of order was raised," He had proposed uyfi“t fow words, but whel the question of order was stated, bo had refrained. p Hon. Mr. â€" MeCULLY haud ‘ not understood that the hou. member (Christie) bad formally raised the point. Hon, Mr. CHRISTIE said he had quated May, and given a precedent from Hansard, in support of his objections. .. _ . Hon. Mr. BLAIR was satisied that the obâ€" jections of an hon member (Christic) were not valid, but it they wure, they should have been adduced before the tirst reading. * Hon. Mr. CHRISTIE said it was only when thke Bill came up that members could state such objâ€"ctions. The Bill creatyd an oftice, inâ€" cidentaily creating charges upon the people, and when this was the case the measure should come first from theCâ€">mmons, then secondly, it proposed to deal with trade, aad for that reaâ€" son should bave come through a Committee of the whole. s T T | _ Hon. Mr« MeCULLY said he thought the | measure might originate in the Senate. It m':al! -nl; to organiz=, and there was nothing in it giving powers which | wore uot existence somewhers in one or m5‘a. gflw Itâ€"simply gathered together a number of particulars, not of an incongruous nature, and placed there under the charge of one, special officer, ac» counta‘le to the Legislature, â€" Thcse subjects must fall nnder some supervision, and the question to be determined, as ho uniterstood it was, have they. been properly collected toâ€" gether, or has there been some incongruity in the arrangement, something which does not : properly fall within the scope of the dutics of the Minister of Matine. If there was anything which did not legitimately coms under the purview of that officer, then it rmight be eliminated, bdt after all there wore details which would be better considered in Comâ€" mittee of the whole. It the €Committee should fecl disposed to limit the fifth clanse, well, but at present the House was only properly concerned with the principle of the measure. He could . well understand why the Governâ€" ment should assign duties of the natare proâ€" posed, to the «Dopartment in questiun, for a limited time, and he might suggest an amendâ€" ment, limiting these powers until the end of the next part of the session. It was necesâ€" sary to have a bill to organize the Dspartment, and if hou, members would turn to the Act of Uaion they would find it dissipated the foars of the hon. member for Cumbcrland. ~8o far as the Bill was concerned, thers was no inâ€" terference whatever with the Taws of the several Provinces. Clause 129 of the Union Act declared that all the laws and all the courts of justice in existence at the time of its enactment, would remain in all the Proâ€" vinces the same as if the Union had not taken place. The Bill in effect only created a head of a Department, and this way, be thought, the simple question to be considercd, was it necesâ€" sary to do this, The 290th subâ€"section ot the 91st clause, gave the necessary powers. In his opinion the Parliament had all the reâ€" quisite power to do what it was ropou:d to do, but to discuss the details, was like leaping before you came to the stile. C Vedrniit en on merieniiians rect aliicarrater is 1 Susd it could properly originate here, it lhyl;ld have been introduced by resolutions in Comâ€" mittce of the whole House, for although it did not expressly refer to trade, yet it did so incidentally. The rale in this paint, as lakt down in " May," wasas follows: " Tart no Bill relating to religien, or trade, or the al. teration of the laws concerning religion or be brought into this House, until the propogition shall have first been considered in & mittee of the whole House, "and agreed unto by the House." In Hansard, at page 124, it is reported as foliows : * Mr. Spooner moved for leave to bring in a Biil to regulate the business of marine stors dumlers, when Mr. Speaker said, that as it was a Bill relaâ€" ting to trade it must be moved for in a Comâ€" mittee of the whols House.". Now hs (NMr. Christic) held that as the Bill before the House imposed changes on the people, it should have oti‘lub] in the House of Comâ€" mens, and if it might properly originate in this House, it should, as relating to trade, and possibly _ involving _ pew legislation, bhave first been submitted in the form of resoâ€" luttons to a Committee of the whole. Hon. Mr. BLALR said he did not agree with the hou. member, as it simply gav« power to take an officeniready existing. ; ‘CANADIAN ~PARLIAMENT Moxvay, Dec. 2, 1867. [ (Conlmucd.) % Hon, Mr. MITCHELLâ€"Hoe was glad the ‘ hon. member had referred to that point, The | Department, as he had alrcady stated, was an | entirely now one, _ It haÂ¥ never existed as a | separate Department, but it was intrusted l with the supervision and administration of | vast and important interests, and morcov@ it i was in the very nature of things that it shokld | continue to expand, yet as it was quite tw it had been thought desirable in case subj®ts not contemplated should supervene, and reâ€" quire to be dealt with some measurs of disâ€" cretion should be given to the Minister in charge. Now there was a question with re» spect to seamen‘s hospitals. In Quebec the Marine Hospital was also an hospital for emiâ€" grants, and it had not beeg.brought ander the operation of the Bill, though if it were deemed dusirable by the House, it might be xo placed. Certain questions had been submitted to the Boards of Trade at Quebs¢ and Montrcal, us to whether it was desirable to have seamen and emigrant bhospitals in common, or if it would be better to keep them separate, ‘The «discretionary power given by the Bill to the Minister of Marine would enable him to do in relation to this question what might after due consideration and advice be thought for the best. ‘ F We . cilho n c lt on Chanicabtask drmand> €:1 He (Mr, Tessier) was satisfiecd in relation to the other subjects named, for there were laws relating to them, and all the Bi}l did was to take them froin under the control of the Board of Works, or some other Department, to place them under that of the Department of Fishâ€" eries. But when there was no law n:.',uhu'nq a mautter, such as the classification of vess 1s, would not the 5th clause give the Depurtâ€" ment that pewer? Aod would not an qrder in Council in that case be equivalent to a law ? It would be useful to classify our ships, but he doubted whether it would be right to muke it compulsory. (If instead of orders in Cogncil it was said ©according to the laws in force, or hereafter to be enacted," he thought it would be better. (imeg Hon. Mr. CHRISTIE said ‘he thouglt the Bill was liable to twoâ€"objections, From the Ind clause it imposed, or tended to impose, wharges upon the people, for it established an oftice which would involve an expenditure of money, and he inclined to thé opinion that for this reason such a Bill conld;not properly :»rlghu.u in this chamber. Then secondly, if | [ TT qdoio onl on w4 U I . ‘ 1 Hon, Mr. ‘TESSIER said that in regard to the classification of vessels, he was not aware that there was any law to preventit, but would not the Bill give power under orders in C. cil to do this ? If it did not, where was necessity of introducing the subject in Cil to co this /â€" If it did not, where was the necessity of introducing the subject in this measure, or until legislation had taken place ? T9 s49 Cw cce l ma us . !ac PARLLAMENT: Ist SE 2 AMHR SENATE orders in Coun 3$10 THEH OTV‘AWA. [[MEHES, DECKMBEKER 4, i sov. W on i anites nc uic d oi ulc li»n, Mr. MITCHELL sard the discussion ha . clicited some valuable opinions, and he wa«s much obliged to hon. members for the att ntion they bad given to the subject, It was only by sifting such questions that any. this4 approaching to .‘m was reached. As i r classification vessels, he thought the po!:<y advocated by some hon. members was ®p «ifically s«t forthâ€"the power and manner of «xercise ary clearly laid down, while her : by this Act we are merely, it is alleged, req iired to declare the duties of a Minister of M inc, dutics which had previously been ex rvised by other officers of the Government, ‘ uky 5 Ced ) Snd ce eneet S Oe P PVERE Of Mi:.ister of Marine. He conccived that if the ohonfi b obj ct of the Bill was merely to agy.egate the | t it powers haretofore exercised by the several Hon. M proviously existing Governments, the duties | tleman wu bei 1g only thrown together and made to deâ€" | that may volve upgn one Minister, there could by nu ther gu pes obj stion ehatever 10 466 present. Bill. e | sification lovked upon it, however, as a vague stateâ€"| this coun met of powers intended to be given to a | that ¢very par icular Department. ‘There was an inâ€" Dominion dis: /nctnaess about dotails, and indeed nothing | the objict suuiciently clear, _ If reference were made to | be altoge! PFuulla Works Aot wl momeut GME Bhreuse oo oo id oC in fea ing assuredly the proper time for disâ€" cus â€"ing, notthe principles only, but the dctails of a Bill. If in this case they had confined thenselves to.a discussion of th: abstract prinâ€" cipie of the Bill, they would simply have afâ€" firmed that they approved of the crestion of a i R V t ap h in netineniat Adinaa h. stvisninc i he would ask, so to take away the powers of these Commissioners, as this Bill, if is bâ€" comes law, assuredly will do? ‘The language of tas Bill involves a principle amounting to this, whether the people shall be permitted to ::.n.ug« their lovm commercial affairs, or the Jotic principle of a Government managing such matters for them, be admitted. lion. Mr. SANBORN thought the second rea ‘ing assuredly the proper time for disâ€" o L e o n m ce CCC Is in 8t. John, N.B., Quebec, Halifax or Montreal ; and it it were, would the certifi. cates of the agents of the Hon. Minister of Marine stand so high in the commercial world as those of Lloyds‘ agents? He might further remark that certain Acts bad been passed reâ€" gulating Harbor Trusts, and he desired to know wh ther these Trustsare stitl to be administer. ed under such Acts or l{non-d by the passing of this Bill. 1t certainly did appear to im es reun Lc WO wl > w o out .z oo aine C o m that if the Government ha‘l the voutrol, regu. lation and imanagement of harbors, @ad Harâ€" bor Tnul:‘ the Harbor Commissioners could not do a single act without at lcast consultâ€" ing the Government. Would it be prudent, : UhatiTon o qnor n aeny wis " grown up called Lloy4s, which gives characâ€" ter to ships, and which has its agents at every seaport of any note all the world over, and there is a French Lioyds and an American Lloyds, and the Government apparently deâ€" sign to interfere with this old and long recogâ€" nizsd institution, and become vlassifiâ€"rs them . selves. He looked upon it as very unsafe to put such a power into the hands of the Govâ€" ernment, as it was decidedly a bad principle to take out of the hands of the people the powers zhwh they had exercised almost from time iimnmemorial. At every port, he would repeat, Lloyds‘ agents were to be found superintendâ€" ing the building of and classifying ships, and he would respectfully ask whether it really came within the functions of a Minister ot l:ulen to act as Lloyds‘ agent, classifying ves. Hon, Mr, RYAN saw more than on> new feature in the Bill. It was a new ons, that of transferring to a Minister duties which hitherâ€" to had been discharged by public bodies. He may have interpreted the Bill incorrectly, but he thought that the wording of the Bill in this particular should be most distinct, and leavs room for neither cavil nor doubt. A transfer of certain powers hitherto belonging to incoiâ€" porated bodies was by this Bill virtually made to the Government. ‘The right of classifying ships, a function which does not belong to any Governinent in the world, claimed in the Bill for the Minister of Marin=, ssem=d to hiin exâ€" traordinary. So far, the classifying of ships has rested with a Board of Merchants. It is well known that in London an institution ims Bili may goa little too fir in conferring, as some allege it does, legislative powers upon the Governor in Council. The House must not incuutiously, too readily «s it were, yicld up their own power in favor ot Ministers. It might be well to by a little lenient in this maiter, but he admired the prudences ot an hon, member (Mr. McCully) in recommendâ€" ing that the excrcise of the power proposed to be given to His Excellency in Council should be limited to the end of next Session. _ Hon. Mr. WARKâ€"â€"The Bill has simply a twoâ€"fold character, that of erecting a Dopart. ment an? that of defiaing th» duties and poâ€"vers of the officer at the head of it. â€" Could it lâ€"ar the construction alleged with regard to it of classifying .ships, it would at least bs hLe«:ssary to examine very closely its details. Ons part of the 5th clause appeared to him as buh:‘irodbh of bearing a construction which posilbly was not «designed, that which stated thet the D:partment shall have, ‘exercise, an i discharge such other dutics as may from ‘ thmy to u-.pmu, or n.-d,lnon cvonferred upon it by of the Governor in Conncil, as the question might arise whether & Minister by.a merc Order in Council might not be required, not only to have, but to exerâ€" cise certain duties, the exercise of which by him wers not. coutemplated when ths. Bill became law. * the most opportune time for discussing not only the general principles of a Bill, but some of its most striking details. A willingâ€" ness to sutter a Bill to go into Committee ot the Whole was yieclding or conceding the principle of it, and, indeed, admitting the n>â€" cessity tor it so far as its gonseral features are concerned. ‘That principle in legislation he could not admit. &oklng at this BHI parâ€" ticularly, he considered it only as an AAminâ€" istration measure, setting forth that the Govâ€" ernment may have certain powers and no more, It does not set forth how ships shall be classified,â€" pilots regulated, or fees collectâ€" ed. It confers simply administrative power, assigning dutics ton particular Mini¢ter, that Minister being bound to govern himself by existlog laws, which cannot be interfersd with without special legislation, Nevertheless the °2 "Yorks Act, all power was thete most fically uct Mâ€"m power and manner xerclse ary clearly laid down, while by this Act we are merely, it is alleged, [madh e Auctcls n o aren ce P ol Mon. Mr, Le TELLIER de 8T. â€"â€"If on the second reading of a Bill explanafions may unot be given, it was somewhat odd that the hon. Minister of Marine had been bajled on for explanations now. He believ woever, tlint the second reading of a Bill presented sidâ€"ration. He hoped that before any such power should be conferred expediency as well as the necessity of doing so would be well weighed, Ths power sought for was such as vern thent of any country in the wul.;l‘do ever had given to it. The power whick the Bill Eropoud to give to the Government as shown y the schedule ot classifying #, was ons of a most extraordinary nature, and deserving particular attention and the most serious conâ€" Hon. Mr. STEEVESâ€"It did not apâ€" pear to him that there was any objection made to the principle of the Bill, but merely to its det.ils, and it therefore occurred to him that any discussion on the clauses of the Bill shoald be deferred until the Bill itself had been brought up in Committee of the whole. On the second reading all discussion should havs bzen confined to gensral principlesâ€"to Tae SPEAKERâ€"That is not a question of order. Theâ€"objection taken is that the Bill provides for a charge upon the people, and that itaffected a branch of trade and industry. As regards the question of trade originating in a department, and a Bill being lntmdnex in this House to enable a department to deal with matters of indastryâ€"if it were a matter of trade witl. any foreigir government, or even any special legislation with regard to any parâ€" ticular trade, the objections madsy by the hon. member (Mr. Christic) might hold good. This Bill, however, neither relates to money matâ€" ters (which must:originate in the Commons) nor to the operations of trade, general or particular, and therefore the question or order does not here actually ariee, | a dusire to ascertain whether the country wither nceded or wanted such a Bill at all appeared far from prudent to take any step, wph‘: h in the slightest degree tended ’fio cirâ€" cumscribe the mononhfionuunl’b lativs body. Setting that, however, aside, if he und. rstood the Bill, its object was to organize a «department, and not by any means to reguâ€" late a trade, and this he had learned, if he understood him rightly, from the Hon. Minâ€" ister of Macine himself. ‘This being the case the powers of the Senate could ncither be duubted nor disputed. He thought nevertheâ€" luss that the power sought for might have becn put in a more distinct form than as it was now set forth in the Bill. right or wrong in the stand he had taken was to hm a matter of much less consequence, than the attitude of the House with regard to mautt«rs of legislation. To him it certainly Ttake HELL sarid the discussion iged by the unnl] Hon. Mr. MeCULLÂ¥â€"The honorable gonâ€" irnments, the duties | tleman surcly doys not suppose that anything ther and made to deâ€" ’ that may by done by Government will altogeâ€" t, there could by nu | ther supercede, interfere with, or prevent clasâ€" ie presont Bill. fe | sification at Lloyds. If the Guvernmont of f, as a vague state»| this country could be insane enough to enact d _to be given to a | that every vessel built in or belonging to the There was an inâ€" | Dominion should be classed in their Lioyds, , and indeed nothing | the objéct, said to be desired, would assuredly irence were made to | be altogether lost. A Cazmudian Lloydsâ€"an wer was there most | association of men well acquainted with the : power and imauner | qualities of Canadian voulcudlhlr-lnlldug, _ laid down, while | and practivally conversant with sh pâ€"building nerely, it is alleged, ‘ by means of their own agonts and supervisors Te OA 2M T1 P WWiiigh 4 dnb yrain@ in rmiegpiindintiatin ic BC of t ue i o C o CR C Tevee | â€"could giv: a character to a vessel which would be respected in England, in Fimice, and in th» United States, . ‘The character given‘to bs respected would depend â€" much upon the character of the association which gave itâ€"â€"a character which no Government vould arbitrarily impose. One great dificuity with which Canadian shipâ€"builders had to conâ€" tend was the difficulty ot molz people fully ::.d&nm'" h:th: qualities of wood. It lvu‘dlt. nue to persuade poople in Engâ€" land that for thy shipâ€"building purpgses, the wear and wloouunoml‘ohum‘ hacmatac was ncarly equal to British oak. Yut&umh::uu&n we are as good judges as in any other aountry ot shi material. ~As the quosâ€" tion was y to be discussed 0n the in eataren »gna o io Coonie Emt & Hon. Mr. LOCKE desired particularly to know if, as asserted no power was given to the Minister of Marine and Fisheries by the / Bill, what the intention of Ministers was in introâ€" ducing such a Bill. It was surely important that they should know what power in velation to the exercise, management and contrul of Marine affairs, Government really wanted. Assuredly if a Canadian Lioyds werd esta. blished to be exclusively under the control of the Government, the effect would be most mischicvous rather than in any degree bene. ficial,. He admitted the desirability and use» tuiness of a Canadian Lioyds under pro management and control. It would be l.\fl:‘ ’ mlubly & mouit uwluluwclut'l:'n, bu: ‘:t would . t0ous in the extreme, he would repea* if m-ml had any control whn:;:: over such an nssociation. Thers would be a forced classification here in all probability and necessary classification in Eogland as well, Merchants aud shipbuilders would have to resort to two classitications to sell their vesâ€" sels, the ons arbitrary, the other on absolute necessity, if they would soll at all. The gucouon of whether it is the intention by this ill to create a Canadian Lioyids for the purâ€" poses of rating and classifying ships, or not ohoufi however, at once be settled, and he trusted it would be so. . Hon. Mr. WILMOT thought there would b: no doubt that as the Bill now stood the Government would have power to legislate ‘ by Orders in Council. It was he lhoufht quite desirable to establish some mode of classificaâ€" tion among ourselves for Canadian vessels, and not to leave the matter to Lloyd‘s in Lonâ€" don, or anywhere else. ‘The Marine interests of the Dominion were very largs, and it was well known that the vessels built on the north bank of the 8t. Croix River in New B.unswick, were supcrior to those built on the South or American side, yet they were classed with a difference of two or three years‘ inforiority. .He trusted that proper attention would be given to this important subject, and that something eff:ctual would be ‘done. The 8t. John built vessels had proved themâ€" s :Ives in every respect of the highest characâ€" ter upon the longest vosages, and had made . some of the finest passages from the East Inâ€" di:s. As to the Fisheries he thought there could be no doubs that they should be placed under the control of the Central Government. Indeed there was a most nTnt necessity that :omuthln. should be done,for they had almot Hon. M;. MITCHELL had not th« slights objection, _ _ _ ’ Hon, Mr. MITCHELL could not éxactly say. . He rather thought that it was s private .entieprise, but uner Government supervision, though of this he could not positively #peak. Now, with regard to the Bill now befors tois House, he thought it would be quite time to discuss the details when it came before the Committee. ‘The real question was, howâ€" ever, whuther or not it were desirable for the Dominion to protect its large floating property . He assumed, that no one would take th« ground that it should not, er that we should not attempt to give our vessels a classification and character. ‘The hon. member for Sherâ€" brooke had taken exception to the fifth clause, but he (Mr. Mitchell) thought that hon. memâ€" bers had fuiled to apprehend the object and purport of the whole Bill. It was only deâ€" scriptive of thoâ€"class of duties which would coms under l:m Department, and l'“. to it no power of ’hhuon or control ontside of u.."i'n. al y in existence. Hon. Mr. MILLER begged to ask the *hon, Minister of Marine whother he wonld be wilâ€" ling to amend the fifth section, by adding the words, " under the existing laws of New Brunsâ€" wick, Ontario, and Quebec.‘ 0 Hoa, Mr. RYANâ€"Was the German iunstiâ€" tution constituted under a Government D« partment, or was it not as Lloyds, a private enterpriac ? e e Hon. Mr. MITCHELL again begged disâ€" tinctly to assert that the Bill gave him no such power. The hon. member here read again the 5th Section, and claimed that its wording could not be so construed; all that it gave the Marine Department was supervision. It prescribed the particular class of duties to be performed, or which came properly under the prevision of the Minister. If when it came into committee hon. members desir d to submit any motmon to make the matter better.unders he would be happy to reâ€" veive it, and give it his best attention. The hon. member (Mr. Ryan) bad said, that the Bill proposed to take matters out of the hands of the local trusts, by which they had hitherto boen administered, but this was an error ; and in point of fact the yery trusts in question were now subject to th Government, and the sole obL'ct now was to bring them under a particular Department. â€" Again referting to the elassification of vessels, he said, that a country such as Canada now was, the 3rd or 4th Mariâ€" tinmie power in the world, and with a larg« population, employed as it was to a large exâ€" tent in ship building, it was too much to say that such a subject should not be regulated by its Parliament, and that because carly in the history of England a coâ€"operation had been formed for the classification of vessels, which had worked well,it followed that we, the germ of a fulure great nation, should not deal with the same subject, but must for all time to come defer to a bodno.’ men in London. ‘The hon. member (Mr. Ryan,) had expressed a doubt whether we could mature w measure which w ould give character to our vessels, _ Did nout the hou, member know that the French Lloyds, or © Bureau Veritas," as it was called, was quite a modern concern, and that the rules ut Lloyds (English) were considered by many persons versed in th@ subject as not quite what the age demanded, and that in point of fact their detcets had called the Veriâ€" tas and other similat institutions into exâ€" istence ? Surcly the hon, member (Hon. Mr. Ryan) will hardly assert that the fourth Mariâ€" time power in the world should leave one <of its greatest interests to be controlled by Boards in New York, Paris, or London. 80 important did the Germans think it to be to protect their own shipping, that within a twelvemonth they had established an institution not of the exâ€" act character of Lioyds, but one which they deemed would answer the people. * _ Hon, Mr. ALLANâ€"Suppose the Bill passes, will not the Department of Marine have the ‘power to classify vessels? _ _ _ _â€" _ _ Hon. Mr. MITCHELL repeated that "the Bill did not give the Government, or his Department, power to classify vessels, but that the officers whose duty it was to do so, would come under,the supervision of the Governâ€" ment. + whether or not it would he dealt with by the Government. ‘The Government had not as g:..m the point, but if it did, the would have full opportunity to discuss the. subject. Now, notwithstanding the opinion of the hon. member for Montreal (Hon. Mr. Byan) he (Hoo. Mr. Mitchel!) thought that this was a very proper subject for Parliament to deal with. ‘The hon. member had said that neither England, France or the United States had dealt with it, but even so it did not follow that the Government of the Dominion should not do so. Hon. Mr. RYANâ€"If it were not the intenâ€" tion of the Government to deal with it now, why take the power. in this Bill? _ ~ ar. praps _‘ CCC OW help its creditors?â€"| oth Mr. POPE agreed with the last speaker that | b we have not suffered, as had been stated, from | suy numerous such failures in Canada, and thad | tio always been proud, and justly proud, ot | hat our Banks, but bscause we had such pride was | ven just the reason_why the most searching en. | abl quiry snould be made into every application ’ bev of this kind, and special privileges ought uct | the to by lightly granteg to an institution that | m«si had cast a shadow of doubt and distrust upon | it h every Bank in the oountr{. If this Bl:l:!‘:‘ ::y tact speculating in railroads, by going ou the | as ordinary operations of banking, had lost | mer money, let it go before the country as a j ons special case~"With‘a million of dollars lock» | sion ed n»n in sailroads, and a million of dollars of | den doubtful debts, it, was of importance that its try mismanagetnent should go out to the codntry, | who which depends in a great measure upon the , the solvency of its Banking institutions, that it« | ban failurs was attribatable to this exceptional | bets cause. The country would be thus enabled | thei to disti between this Bank and other dire :i:"m the bills of .“l:l"h:h will | ame e to as current as gold, war.) . | 4opr Mr. OAI'P:IIDIIT rtiho to .up(hln the | prov cause of this failure, ".Illl the more | twer confidense as evmo‘, n the _ House } tion know that he 'a..m iu, or | as it had no colueuu.. er with, â€" the | try t 'lulm ulnllh_lhn rail way trtusaction ; publ Geal tairly with allâ€"parties having interest in its affairs the Bill should: be allowed to pass. Hon. Mr. DUNKIN said that one remark which h :d falten from his hon. triend opposite should nut be allowed to pass without notice, namely, the astonishing stat¢ment that, withâ€" in a few years back, nine Canadian Banks have fuiled. He had been familiar with the affairs of Canada for the last thirty years, and he, as well as manyâ€"other members of the House, knew wbn:l{y well that such was not the casc. It was truae that now and then it had happencd that Banks doing business in adjoining States, nud using the name of Canaâ€" da without authority, had failed, but within his recullection there had been but two real" Canadian Bank failures, of which the Bank of Upper Canada was the first, and the Commerâ€" clal Bauk the second. _ As to the Bill itselt it | merely prolonged the life of the Bank for ninety days, and did anybody imagine th.t‘ Iutfing ua: Psnk die would help its creditors? o anbueuee oc d Sm they were bad indoedâ€"as proved that its afâ€" fairs had been conducted with an utter abâ€" sence of â€"discretion. If, however, it could be shown that, by the passing of this Bili, thoss in churge of the Bank would be enabled to deal tairly with allâ€"parties having interest in Hon.‘ J. 8. MACDONALD said, that the sharcholders had suffered from the gravest | mismanagement, and that the history of the Bank taught a very usefal lesson. Legislation would at least be of utility ~in showing that the House had taken hold of the subject, and were determined &F protect the interests of shareholders whenever jeoparilised by such practices as those of the management of this Bank. We would like a clear and intelligible ctutement of its affairs, such as every body might understand,and not such as were compreâ€" hensive only toan exâ€"Finance Minister. Pai. liament should legislate for the want of soâ€" carity In such: corporations arising from the excessive ppwers held by Directors, _ Ts Bill provided no #uourity whatever beyond that which shareholders and depositors already enjoyed. It was right also that time . should have been afforded to those outside the limits of this House to satisfy themselves as to the real position of affairs. f Hon. JOSEPH HOWE said that the posiâ€" tion of the Bink was that it had not paid its. creditors for sixty days, and now asked to be ‘ relieved ‘from the obligation. to pay them for | ninety days more. If a private â€" individual came to them to make application for protecâ€" tion for the nonâ€"payment of his debts, they would faugh at him, and the two cases were exactly similar (no, no). It was right that such applicatious should be examined with the utmost care and deliberation, and although he had no intention to question a measure which had, doubtless, been alteady well conâ€" sidered in Committee, he could not refrain from remarking, in connection with the subâ€" ject, upon a new:rp« statement that he had recently seen, to the effect thst, not long azo, within a reasonable, or perbaps he should rather say an unreasonable, number of years no less than nine Canadian Banks had failed. The Commercial Biok, in addition to the wiildest in vestments in railwaysâ€"an he held that Banks had no business whatevsr to deal in rail way bondsâ€"possessed such an enormous amount of bad and donbtful debis â€"and whea ‘ a Bank acknowledged its depts to be doubtful frll K . T . Mr. CABRTWRIGHT said, that these stateâ€" ments bad been furnished to members of the House, and had been published in a portion of the iez . :03 01 i. ;) 5 Mr. D. A, MACDONALD regretted that the $tatement made to the committee had not been published, so that the full information might go out to the country. DW 10 ICCCE 2C #2,020,000 _ it had been well, and he r: joiced that such statements had been mads, so that no noteholder or depositor might be induced to doubt the security for his cluim, and so pare with it at a discount. ing off all doubtfal debts, $2,000,000, besides railway securities of $1,800,000, valued only at $300,000, miking their total assets considerâ€" ably in exces$ of $4,000,000 ~It had been The Hon.. Mr. CARTIER, in reply to the Hon, J, $. MACDONALD, stated that the President of the Bank hbad proved the stateâ€" munts of the preamble to the satisfaction of the Banking Committee, and convinced them that the institution was solvent bsyond any quustion. (Hâ€"ar, hear.) Since suspension the liabilitics had been reduced by nearly oneâ€"half, and at the present moment the total amount dus to depositors and notholders was only $2,000,000, while the committee had found that the Bink held debentures and Government securities amounting to $300,000, mortgage securities $150,000, real estate $200,000, not :s of other Bauks anil vills receivable, after writâ€" On the consideration of clsuse ‘3, giving power to thndirectors to amalgamate with any other institution subject to the approval of the sharcholders, ' The clause was prni‘;t;;l"-câ€"a;;i;.l, as also clause 2 providing for the increase of capital to $1,000;000. On the motion of the Hon. Mr. CARTIER the name of the Hon. Mr. Rose was added to the Cominittee on Bauking and Commerce; COMMERCIAL BANK OF CaÂ¥ADa. ‘ The House went into Committ»e upon the Bill, Mr. McGill in the chair, . Mr. . MORRIS, in imoving the ist clause, ‘shu-d that the Bank possessed assets more than sullicient to pay all it« ligbilitics in tull. Of this the committep of Banking and Comâ€" merce had required the clearest proof, and proot had bsen given which had been Atire. ly satisfactory to the comunittoc, and would be found equally satistactory to all persons inâ€" tersated in the affairs of the Biunk, and to the entire country. By the law of the land any bank which might be compelled to suspend specie payments for more than sixty days, made itself iable to the forfeiture ot its charâ€" ter, and without spscial interposition the charâ€" tor of the Commercial Bink would thus lapse on the 21st of this month, so that the House would tully approciate the perilous Bollllun in which it stood. Since the 29th | ctober the Bank had liqnidated $2,000,0090 of its liabilitics, and would proceed in turther liquidation of «ll claims upon it on obtaining the extension of ninety days in the time alâ€" lon.r.ml for a return to cash payments. | COMMITTEE REPoRTS. The Committee on Privileges and Elections presented their first report to the effect that the Hon. J.$. Macdonald and the Hon. C. Dunkin are not disqualified for sitting in the House of Commons by reason of the offices held by them under the Crown, The Comunittee of Baukruptcy and insol» veney preschted their first report. second reacing he might as Well mention with regard to Lioyd‘s agencies or superintendenâ€" cles of shipbuilding in this country that that Association employed travelling ngonts to vigitshipyards, and who actually classified vesâ€" sels on the stocks as it were a secret, _A merâ€" chant might be led to believe when his ship was completed that she was A 1 in point of exâ€" cellence of matorial and workmanship, Lt find on going to London that his ship had not been classed at Lloyds, as he had had good reamon to expect, and thus loss, for which he was quite unprepared, be suffered. A Canaâ€" dian Lloyds will certainly do much to correct this rather serious deawback on shipbuilding, jfit wou‘d do nothing cise, s (To be continued.) Tusspay, Dec. 3, 1867. The SPEAKER took the Chair at a quarter part three o‘ciock, B@" lrs. Brown is coming to Ottawa HOUSE OF COMMONS C eresantramientaibriries se sallor o a s i. | sion in ‘the creation ot an amount of confiâ€" l dencs in the banking institutions of the voun» | try which had not before existed. _ He asked | whether the directors had been subjected to 'flu same restrictions as prevailed with other | banks, who were forbidden to udvance to mem. beéts of their boarde more than five per cent, of their capital, It had bien said that some directors Mmly vkceeded this limit, The ameud ment on the Bill increasing the Topresentation of large sharcholders, who had â€" .Mx boen restricted ‘lo‘lb.llll.lfl 0413 wenty votes, was a move in right ‘direcâ€" tion. He thought the digcussion of importance, uu-dnhubth&-uulfi.m-; u]&kmh‘.utymdlh bank‘s fall. The Pu along confidence in the solvengy | of the institation and its bills bad been, since | !fimw lor 15, 80, and even 99 | per cent. of full value. © The corntr expected | some degislation on the subject of banking .. | Mr.CARTWRIGHTâ€"That on the day vious to suspension the Bank had paid dm balances due in Montreal by m=a:s of a loan from the Bank of British N’onh America, and had on the 27th November paid to the Bank of Montreal $260,000, Mr. GIBBS maid that the Bank with which he was connected, and he believed every other bank represented at the merting, had bien willing to contribute its quota for the support of the Commercial, with the excepâ€" ‘ tion of the Bank of Montreal, which, with one hand offering assistance, with the other preâ€" vented such assistauce from being made aygilâ€" able. He regretted that Mr. Simpson hu“l bevo present at that meetingâ€"had he been so the Bink might have been now rendering that n«sistance to the commercial community that | it had ever done. H: was himself deeply atâ€" / tached to the Commercial Bank, owing to it as he did any position he might hold as a mercantile man, He thought, however, that | one q.ml cgrali would arise from its susnen. | The Hon. J. 8. MACDONALD said that a stigma had been cast broadcast upon the Banking institutions of the country. Now was the time to put the saidie en the right hor«e â€"now was the time to s«y had any. of the other Banks refased to com: to the as«istance of the Commercial. . It had been stated that the Currency Act was responsible for the fall, both of the Upper Canada and the Commerâ€" cial Banks. . It had been at first proposed toâ€" issue bonds of the Province, but the Banks had â€" endeavored to throw discredit upon these in order to prevent thei( dupositors from withâ€" drawing from themselves to invest with the Government. ‘The consequence was that theâ€" bonds were takâ€"n up to but a small extent, and the Governimnent was driven back upon the other schem:. Ts door had not been closed against any Banks, but those who rsâ€" fused to coms into the G@overnment 8cheme, and any others mig‘1t have come in in the sam ; manner as the Bank of Montreal. Those who ‘ had opposed the Government, and had not so come in were responsible tor the diflicultics that had occurred. The practice of Bank Directors transferring their capital to New | York and elsswuers, whore some simall profit of exchinge was to be made, was the trus cause of such failures.~ Binking iustitations were authorised for the benefit of the whole community, not that of individual direc»| tors. ‘The‘ Bill had â€" been introduced. with such unseemly haste that â€" even marginal . notes â€" had not been suppli« ed. â€" With rsferches to the power proposed to be given to the directors to make assignment to truste@s if no amaigamation lhoufd have been effected within thâ€"ee months, He thought that a general mvseting of sharecholders shoul be first called and consulted. The history ot the Bink of: Uppef Canada gave ample warnâ€" ing that when the time for winding up came those who had appointed directors should be consulted. ‘The House, as composed of men of honor, should deal with these as with theig own private affairs. In auswer to som: «n. quiries on matters of account the hon. mem. ber clicited from. Mr. CARTWRIGHT explained that he had not said that business in Upper Canada was itself unsound, but that the interference of the Ls‘illfl:m hl:l tended to make it so, Carrency Act had, in his opinion, largely con. tribated to the fall of the Bank of Upper Canada, its effect baving been to give undue confidence to the Bank of Montreal, and to withdraw deposits from other banks ‘whose ‘bills were supposed not to be so wel! secured. If the Bank of Montreal had not stood in this exceptional position, and if the Commercial Bank had received the assistance that it ought, it would have weathered the storm, but the Bank of Montreal had no interest in suetaining it, not standing on the saim» footâ€" inz, while its own bills were guaranteed by the Government, | It was a well known principle of loan that .the better the security the lower should b» the rate, and it was right that banks should discriminat« in their accommodation, as they would discriminate, had not the Govâ€" ernment interfered to impos« restrictions upon them. He was sure no hon. member desired to asperse the business of Upper Canada as not being contucted on sound principles, and therâ€"fors unsafe, and said thit the banks waose insolvency had beenu roferred to by the member for Hants, held no position and did lite businsss. Jt was most unfortunate that assistance had not boen given to the Commercial Bank, as would haves bsen dons but for the restrictions imposed by Governâ€" ment. Dr. PARKER, referring to the remark that the Currency Act bad®t bâ€"en in operation until two months after the suspâ€"nsion of the Bank of Upper Canada, ani said discussions upon the working of th» Act had previously gone to the coun‘;y, an ! is hi beer stated that it woild nave taâ€" effect :of jeopardizing many . banking ijnstitations. (Mear.) The Currency Act had, in his opinion, largely conâ€" tributed to the foll of the Bank of Upper the dl)i these fiabilitics had decreased to less thaiÂ¥ two miiWons and a hall. Since then a further liquidation of $.00,000 had been made (hear, hear), which afords fair grounds for believing tliat, if whe exteusion of time be granted, the bank will be able to settle with every one of its creditors in tall. â€" After strict investigation by the commiltee, it had apâ€" peared that the value of ils assets were $4,« 800,000, of which $1,000,000 is cash, against $2,000,000 of liabilitivs. One of the priaciâ€" pal causes of failure had been the imprudent advances to the Great Western Railway, and with so large #eu amount of.capitat locked up, it had boen impossible to ascertain their real position, and to write qi all their bad debts. The distrust inspired by the (ull of the Bagk of Upper Canaia had also afocted them, bat the real and ultimate cause was the measure of legislation which had been inflicted on all banking institutions of the country. _A staâ€" tute more offensive, or more deliberately misâ€" tec, who had sat for three or four hours daily through four days, and had required the strict» est proof of every statement of the preamble, It was showa that on the 19th October the Bauk owed four millions and a half to shareâ€" holders and depositors, and that in thirtyâ€"five at, if ahe extension of tiime be | a nk will be able to settle with | 1 creditors in tall. â€" After strict | o y the commiltee, it had apâ€" /« aâ€"value of its assets were $4,+ | o ich $1,000,000 is cash, against .4 abilities. _ One of the priaciâ€" ilure had been the imprudent |® Great Western Railway, and | it i amount of.capitat locked up, | t ossible to ascerlain their real ; & write qi all theair bad debts. ' r pired by the (all of the Bagk | a a had also afcted them, bint | s imate carse was the measure | (/ hich had been inflicted on all | u tions of the country,. A staâ€" | f4 ive, or more deliberately misâ€" | C e more calculated to pl’%fl-fl(‘c !r t was impossible to conceive. | b infadicious legisiation every ' t I he touad that ie Legislature to e all operations, «dis:inction be. nd the smallest int for both on not be properly come the sleep. houses, but, un« coun»â€" | _ The Committee of the whole resumed4â€"Mr asked ‘ MAGILL in the Chair. gaiust . Government to it. p.i.u‘i- Mr. McKENXZIE had been dispused to ~com. rudent | sider the subject as a parely domestic on», but y, and | it had ceasug to be so when the President of od up, | the Bank had chosen to enter into a discus. ir real ; sion upon banking in general, and to give debts. | reasons why a different system should by Bagak | adopted throughout the country. The Housy in, biut | should confine itself to the matter in hang casure | (Hear.) The hon. gentleman bad alladed t on all | the withdrawal of confidence as a cause of A staâ€" | failure, but this could not be the primary cause, Â¥ mis» | Confiden :e was not withdrawn without some judice | reason. ‘The trae cause was the rxcesu"d’ H«:«-ive. ‘bad management. HMe dared say that under eveTy | the hon, gentleman‘s presidency the manage. [l had | ment had been judicious, but this had come been | too late. ‘The investment of. a million in _ this | railway bonds gave the first blow, followed up emen, | by the withdrawal of deposits. _ 1( theGoverp. vla, to | ment had given time all their bonds woulg d atâ€" | have been taken up, he himself knowiag many ive tsâ€" | persons prepared to invest,if a reasonale time. them. | had been aliowed, but who had been preverted Com» | by the haste in making arrangements with the rticuâ€" | Bank ot Montreal, ‘The tra« questio n before 1 that | the House was whether the Bill was likely to ure to | serv the interests of sharcholders ang deposi. tions, | tors. HMe held that it was likely to do so. m beâ€" | The hon. metber for Comnwall had #seemed allest | auxious to bring Bank Directors to their foet, th on i but he was alimost sorre the hon â€" menius ROs n on eemeey ferred them _ at ail their agencies, as long as it was possible with segard to thei: obligation to muet their engazements abroad, | but the fact was that when it came in force | the bankers saw the mistake of the very meaâ€" sure they had themselves urged on ths Govâ€" erament, and felt that b::“ “p'oduo. was preâ€" carious, not knowing their depositors might themselves become purchasers, TheGovâ€" ernment had acted in good faith, and desiring to meet the wishes of the Houses,and when genâ€" ' tlemen connected with the subject are ofâ€"opinâ€" | fon that the measure had no comnection with ‘lhe failure, it showed no small assurance in | others who were "not so connected to couple them together. = After n fow words from the Hon, Mr. HOLâ€" TON, it being then six o‘clock, the Hous: an | journed for dinner, " gation as this. It had been printed and placâ€" edn‘:zhhd-.mm had been U cousideration of the Committee ol the whole Honse duting the entire afternoon. Hon. Mr. HOLTON said he had seldom soun a p‘f::do fl receive so thorough nn investiâ€" On motion of Mr. MORRIS the Bill was ldm«i clase by clause, . MORRIS moved that the Bill be read a third time toâ€"morcrow. ¢ Hon. J, 8. MACDONALD objected that th» Bill should not be rushed through with ‘such haste, â€" The members of that House were en« trusted with grave and important dutics by the country which they were bound in honesty to delibernte seriously upoB, abd yot here was a imost important measure hn{-‘ through without members even having read it. .1 _ " ;. ) 16 Deen led to suppose by genâ€" tlemen in opposition that as much money as they required might beâ€"obtained upon debenâ€" tures, had, as soon -t:y obtained authority for their issue, advertised them fully, and ofâ€" ic cE C ari i iÂ¥ eC proposed was acceptable to both creditors and ’ sharcholders, as no objection had come from wither. â€" It aimalgamation becomee impossible, ’ and winding up is necessary, facilities should J be given for choosing as trustees those persons most capable of managing the afflairs. | ‘The liquidation was guing on, rapidly, and the [ Bill which had been prepared by an eminent legal gentleman of Canada West, n since undergone caretul revision in C A Mr. METCALFE had been astonished at ttion that the banks had l en pposed to tlje issue of Government debenture?. ‘The fact/was that the Government had never inâ€" teuded to issue them, and the proposal to do so wits merely a sham and a delusion. (Hear, hear.) Note plates had been engravch two years before the Bill was introduced, and cletks were actaally engaged signing the notes while the Bill was under discussion. If there had been a real intention to issne debentures | would â€" it not have been for them that 4M3" plates should have been engraved. ‘The cirâ€" cumlocution office of Mr. Dickens farnished a parallel to the action of the Government, The Currency Act had intimate connection with the Commercial failure. ‘The Bauk. of Monâ€" treal had turned upon the Omnmtthu it had got them into its hands, and bad khaved themâ€"it was a shaving shopâ€"out of two per cent of exchaage. Mr. King, the chief barâ€" ber (laughter), had treated with ‘the Commerâ€" cial Bank, as a brigand might do with a noâ€" bleman‘s mansion, demanding payment of a certain ransom undet penaltyâ€"of its destrccâ€" tion. â€" He held that Ihtl- Finance Minister and the Bank ‘of Montreal were the sole euses of the failure. ‘The houn. gentieman was applauded trom the Opposition benches on resuming his seat. * Hon. Mr. HOWLAND contradicted the last apeaker‘s statements regarding the engraving of the note plages, and argued that the Govâ€" ernment having been led to suppose by genâ€" tlemen in oppoduooht:u as much money as they required might beâ€"obtained debenâ€" tures, had, as soon as they .uu.?‘.'.....n- Hon. Mr. HOLTONâ€"On the hon. member‘s own showing, ought not the Government to have. resistâ€"d the amepdiments on their measure ? â€" Hon. Mr. CAKTIERâ€"The Government were too kind [bccn given by other banks, and he cailed upon the representatives .of the baniks to give explanations, Mc was himself President ofa bauk at Hamilton, which had received no no. tice to attend, perhaps from the fact that its cashier being absent in England. Had he been present he would have agreed with the other Upper Canada banks &s to the duty of sustaining the Commercial, and he vregretted that the notice had not been received. As to the Bank of Upf.et Canada it was in such a conâ€" dition as made impossible for it to go on even if the Carrency Act had nugr‘oc.futo opera« tion. .(Hear.) ‘They, the bankers in the House, would have been wiser in accepting the proposition of the Government as first brought down, and had made a mistake in not keeping themselves free from the power and vontrol of the Bank olcc\-tntl. git The hon. imetwber for Commwall had secmed guxious to bring Bank Directors to their foct, but he was alimost sorry the hon. member opposite, (Mr. Gibbs) had gratified him. It would be quite time enough for that whn any charge was preferced by the Commercial Bank agzainst other institutions. Mr. STREET said that the House had ofily to devise a plan of relief for the creditors and shareholders, not to enter into discussion Upon the gencral question of banking. (H ) They were usked to give the bank the n,p% funity of amalgamation with other institati« to enable its paper to circulateas that of other banks, and as it had itself done before suspen» sion. The hon, member for Cornwall scemed to object to any parties but creditors having any voice in winding up its aflairs, _ Dses h moin to say that the sharcholders, who uts really themselves the largest Croditors, are to have mo Foice ? Such would be as unfair mode of dealing with persons who had advanc. ud moncy in promoting the prospetit~ of the gountry, There scemed to have been some confusion made between sharcholgers and di. rectors. Provision was. made that the crediâ€" tors should be first paid off, and then that all surplus monics should go to the share holders, who surely, if jwccasion wbose, should be perimitted to place as‘ trustecs, persons of their own choosing, and oa their own affiirs to express their own opinion, and exercise their own jadgment. It had been said that proper assistance had not H aud their been stat of the am Everybody we meet in the street asks what ie going to be done regarding thes> nocessary measures, . It was of the utmost COT8OQUâ€" tigy that the wheels of commerce should Continag, to revolve smoothly, and the sooner anything that was to be done was dose, and any imey. sure that might be in contempiation was ind mitted, the bsitter. The banks had boectidesi¢, ous that the Government should raise Molcy upon debentures rather than upon legal tender, I the amoitni of Iegal tenders from tifte ight million had boecu a most fatal i n the paft of whoéver nrigh* have advie oversment to it. Mr. McKENZIE had been disposed to ider the subject as a parely domestic on had ceasug to be so when the Preside he Bank had chosen to enter into a di ion upon banking in general, and to debentures bad not th d, been depreciat «d. munt of legal tenders 1 AÂ¥TER RECESS 0 80oNer @DYTrine va¢, and Afly’fi mplation was #ub. es had boetid asip, 10uld taise Molcy upon legal tendery t therefore, as hag d. â€" The i duction ts frow fifteen to ost fatal mistak. *0 ~con. l»n-' h ident of discus. d ze take verse to be s adopted by a tal law. It is the reasong ; twoen the G Nova Scotia of a vessel County, on th of said w imposition laring said Mr. MoCA ry whether 6 the obl there is no 1 nization whi Constitution rights, and « tion of the U of the que rebellion, tinued d the contrary, that at this 1 it to be Nr. BSAVAl return of fines the County 0 enue Laws si shall sath body that handâ€"rail on that be will address for : following is vinced that unfaithfal ¢ the repeal ¢ ten of the & bridge across the County o Mr. MoCA: connected, bor Compan actually pai bor was in p mit myself Iv strike t ment is to be AME Plank Road Hon. Sir J toâ€"morrow 4 his Financia and also tha would introd poration of committee t« Mr. ANG reading wou! j Hon‘.‘nk 3 t wou! Hon, l:'-l that the Con that the rei nine o‘clock taith as to 5 three millio Imperial G to pay the meni bad th the Colonia that it woul Imperial an to complair case, the Go powered To 1 having read said he wou! and intro4s with, and well acgque Hon. Sir J he apprehen would not i» winl .Ti prlm' Act. _ wf the Domi those incurr the _ House vonsider ce the constr way . former Prov Mr. MILL ed a vote w many of the The hon. m« election tak ment ought Dominion, to be very & the hon. m« in uocupyia give the measares. . Mon. Sir Mr. MORRL Hon. J. hon. friend not taunted tions and drawing introquced lation to th trasted his men who Mis bon. not have in Cornwal the m cons i were before hereafter i through. _ Mr. Mck to congratb by the bon. during the «poken on hereafter him. New Y. Mr. ST The SP! The Hous Y EKB 1 Mr CH o du: of