The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-07-18
From the Portland Advertiser July IA
Important hallway Movemenls In Canada.

The Toronto "Colonisl" Of the sh instant says that
the standing committee on railroads have agreed 10 rec
omnend to the House OF Assembly The confirmation Of
the provincial guarantee to the extent OF onehalf OF the
stock TO each of the Great Western, the OaarO, Splcoe
and Huron, and the Aaanic or Montreal and Portland
Railroads. Our information has been derived from
liable source The report OF the committee. under
stand, will not be formally made until decision is come
10 by Them in regard TO the HALIFAX and Quebec railroad
under tle imperial guarantee and lis extension under
unite with the Northern, and 10 Hamilton, there 10 unite
with the Great Western.
The proposition of The government is substantially as
follows, viz: to provide for the construction OF pro-
vincal line Of railroad from Halifax to Hamilton,
nearly possible in the proposed by Earl Grey,
in his lordships despatch lately published The money
for this great work TO be procured III England under The
guarantee of the imperial government. at rate OF inter-
est not exceeding "a per cent per annum on condition Of
the several provinces OF Canada, Nova Scotia and New
Brunswick first acceding TO the terms OF the proposition,
1t would be unreasonable to expect that Canada would
agree 10 the proposal if the work were 10 be carried no
further than Quebec; and the government very prop
ery have submitted the question to The railroad com.
millee. in the enlarged shape indicated above compre.
hendng in the imperial guarantee the whole OF The line
from Halifax to Hamilton. THIS pon, being decided, the
next step in connexion with il is the extent 10 which the
provincial guarantee shall be confirmed 10 other rail-
roads and this point having been decided substantially to
conne the boon TO main trunk lines already undertaken
the committee have already ntimated, have come
TO the decision OF including the Great Western, the North
en and The Atlantic, in the provincial guarantee; and
that they have agreed TO comprise any
other in It, 80
We think il safe to predict that the foregoing plan will
be agreed 10 by Canada, New Brunswick aud Nova Sco
tla and that any less comprehensive will fail OF sue
cess The distance from Hamilton 10 Halifax, by he
way of Quebec. is 200 miles. Estimating the cost oil
this line at $1,000, this trunk line will require
$40 100000 Add to this the cost OF the European and
North American railway across New Brunswick 2Jl
miles al $4,000, or IS 900 900, makes an aggfe-
gate demand SAT 900 900 from The imperial treasury
This sum will have TO be advanced by Great Britain, II
she is TO retain the colonies.
/ In refe
pledged TO the Atlantic and other roads already CON
menced upon, the OF the interest Tor twenty year,
on one hall the cost. the change OF guarantee making
these companies their money IN England at par
1t is known that the largest bank ing houses 10 LondoI
have recently offered to negotiate the proposed securities
al very favorable rates This circumstance has given
fresh impulse the movements OF the friends OF the AT
| lantic road in Montreal.