The Northern Daily Times.
Liverpool, Merseyside, England, 1857-06-04 00:00:00

CANADA.

The Screw-steamer Indian arrived here at a late
hour last night. She brings 160 passengers, a
heavy cargo, and Quebec and Montreal dates to
the 23rd ult., inclusive.

The news is very meagre and uninteresting. A
parliamentary paper had been issued, from which
we learn that the total public debts of the pro-
vinces amount to £12,189,404, viz :—Public works,
£4,703,303 14s 7d; special funds, £117,007 Os 10 1 ;
provincial loans, £5,333,178 Os 8d ; municipalities,
£1,985,915 6s Bd.
The Aid Bill in favour of the Grand Trunk
Railroad of Canada had passed the Lower House,
and this gigantic enterprise may no doubt be now
regarded as passed, as we understand it is not
likely to meet with any serious resistance—if it
meets with any at all—in the Legislative Council.
This measure may be regarded as the measure of
the session, and we are more than a little surprised
that it should have progressed through the
Assembly so safely as it has. The Quebec Gazette
is glad of this for several reasons :
We are glad of it, for the ministry's own sake; for
while we have no very great admiration for some of the
members of it, and would like to see a couple of displace- .
ments in the Lower Canada section of it, we take it, as a
whole, a much better ministry than we could hope to have
from the opposition benches. We are glad, then, that
there was no defeat, on the ground that it would have
given us a much worse government, or compelled an ap-
peal to the country, which we do not think at all neces-
sary. In the next place, we are glad of the success of
the bill, because it assures to us, Lower Canadians, the
construction of the line a pretty long way down, and so
opens the project of an ultimate communication with New
Brunswick, which is a consummation devoutly to be
wished, and one we have long and earnestly advocated.
When that comes to pass, Quebec will be the market for
purchasing almost all that the lower provinces import, in
the way of breadstuffs, and we shall thereby regain the
valuable trade with them, which was mutually beneficial.
Then, we are glad of the passage of the bill, because a
very snug sum will be expended in our immediate
vicinity. Upper Canada has had the benefit of
three quarters of the money spent upon the Grand
Trunk works to the present, and it is now our turn
to come in for some of the crumbs. When we get them
we hope we shall not inflate into an immense bubble by a
mad fever for land speculation, as our western friends
have done. Then, again, we are glad of the passage of
the bill, because we thereby show how ready the province
is to keep not only its legal but its moral obligations.
There cannot be a shadow of doubt that the despatch of
Lord Elgin, together with the representations of Mr.
Hineks and others, on our behalf, were the means of ad-
vancing the formation of the company, and that we are
morally responsible to the people who invested their funds
in the road, for at least some, returns proportionate to the
prevailing value of money at present, in England. They
were led to expect Ili per cent., and if we guaranteed
them 6, and they are satisfied, we shall not have done
much beyond our duty. It is true, however, that we
would: have preferred a guarantee of 5, and we think it
probable the stockholders would have been content with
this until the road paid 7i per cent., when we might
have given them the next half, we taking the next, and
so on. However, there are good reasons why we should
not even repine at the payment of 6 per cent. We may
say that the determination of the Assembly will inspire
new courage in our neighbours of New Brunswick and
Nova Scotia, who are doing all they can to stretch their
• iron arms towards us. The loss of the bill would have
carried dismay among them, and perhaps led to the sus-
pension of some of their works. Its passage will nerve
their muscles, and the grand British North American
railway system will, in consequence, become—at a much
earlier day than it other wise would—un fait accompli.