12,681.
No. 40A.
(CANADA.)
LAW OFFICERS to TREASURY.
Lincoln's Inn, October 14, 1874.
We have given our best consideration to the letter addressed by Mr. Herbert to the Secretary of the Treasury, but remain of opinion that the money to be raised by way of loan can legally be applied to the construction of the Pacific Railway first, and after the railway is completed then to the improvement and enlargement of the canals. We suggested that Her Majesty's Government might impose the obligation to apply at least the amount of the loan guaranteed by the Government in the manner suggested, and we still think that the Treasury have, under the 2nd section of the Canada Public Works Loan Act, 1873," power to impose such a condition. Whether it will be politic to exercise this power we must leave to the Treasury to decide.
(Signed)
RICHARD BAGGALLAY. JOHN HOLKER.
A 20491.-3. 25-3,86.
PUBLIC RECORD OFFICE
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Reference :-
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