Page:Statutes of Canada, Victoria 31, Part 1.djvu/49



[12th April, 1867.]

the construction of a Railway connecting the 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:

Power for treasury to guarantee interest on loan. 1. Subject to the provisions of this Act, the Commissioners of Her Majesty’s Treasury may guarantee, in such manner and form as they think fit, payment of interest at a 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 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.