New-York daily tribune., 1859-06-01
CANADA.
From Our Own Correspondent
H. "a.
ASKED in vain.


Preparations for the remoya OF the Government
to Quebec have commenced. Last week most OF
the members of the Cabinet Wen to Quebec TO
make arrangements for the intended removal. lt
was reso:ed to spend 500 000, voted some time ago
for tue erection of Post-O Office on a building that
will temporarily the purposes of the Lcgi>a-
ture and be alterwsrd adapted to the purpose for
which it is permanently intended. The Chateau OF
ST. Louis will be taken for the Financial Depart
ment. The building now occupied by the Nautical
School, on 81. LOUIS street opposite the espin,de,
will be occupied by the Post Office and one of the
other departments. The Jesuits' Barracks will be
pressed into the civil service. In addition to these
buildings, which are all public property, couple
of ordinsry houses will be reluired-these will
have to be rented. The removal will shortly be
commenced and be slowly conducted during the
Summer. The Governor General will not 60 down
till September till which time all the Cabinet
Councils will be held in Torsnto. The probable
duration of the time the Government will remain
in Quebec is four years; after which, II no new
turn take place in public affiirs, IL will take mp It's
residence ,ermaneUily at Ottawa Plaus foe new
public buildings at the latter place have been in
the plans can be adopted and tenders advertised i"r
for the work. the season will be too far advanced
to make much, If any, progress with the dn6s
this year.
In tins country the effects of a commercial crisis
are felt for very los. ijWe. Except that there are
10 sc,ual failures occurring, commercial Affairs are
still almost as bsG as they All the banks.
except one, have taken advantage OF the law OF
Ic5S to raise their Iate Of discount 10 seven per
cent; but many of them contrive to get considers
bly, more. They insist upon paper being drawn at
very short dates and often require that 1t shall be
made payable at some other place than where It ls
drawn and discounted, in order tn create a variety
of commissions Ii was expected that the author
iziug Of the banks to rase their rate OF discount
one per ccut would put stop 10 this practice; but
it bas not. Some OF The banks, by these cbntrlv-
ances, DO. Inirequenty manage to squeeze Ten per
cent oUt OF their customers. Bfokers are, AT Tue
same tune lending money 10 drlblrts, even 1Or con-
mercal purposes, at enormous rates-25 per cent
a month being the regular figures AmercRant has
foreign remittance to nahe: he scrapes together
all The money he eau from those Indebted t0 hun,
ard by borrow inc from the banks but still nGd0g
hin self short he goes to broker Tor the oaance,
ard agrees to pay y per cent month. at lhe
sau e time money Obtalnable on mortgage scared
on good productive property, and baving hve or SIX
wears 10 run, at eight or ten per cent. The iatter
figure is paid in almost al such cases; and It is
4
real estate, whether consisting of city lts or Wild
lands One OF the reasons why the ELECTS oil
commercial crisis are so long felt in Canada Is, that
it il no. the practice to 20 into liquidation Deots
which cannot be paid are seldom compounded.
Among this class nobody pays anybody, and every
body holds his debt intact against his creditors.
There is not only DO bankrupt law, but no notion OF
agreeing TO make the best OF q bankrupt estate and
distribute the losses. Thus firms which are noto.
riously bankrupt continue to 60 on; aud land
| specJlatiOns which can never be carried ous are
\ not wound up till the latest possible moment. The
result Is that chronic state of commercial depres-
sion in induced. 1t is probable that at the next
session Of the Legislature bankrupt law VIII De
enacted and il may tend to clear away some OF the
existing rottenness. The effect of the recent re-
luxaton of the money laws IS 3 much disputed
question.
1t is understood that the Government has made
some arrangement with the share aud bondhoders
of the Northern Railway by which the bondhoders
will raise some Sl,OOU,0O0 to put the road IN
thorough repair. In return for this the new bonds
to represent this smouDt will rank before the Tow
erImeDt lien, ard the existing Company bonds
siter those TO be issued-placlDg the Government
claim third on the list.
The price of Wheat and Flour is nearly a. high
as it was at any period during the Crimean war
Wheat has sold as high as 81 bushel, and Flour
at over 80 barrel. There is very little ln the
country though probably sufficient 10 supply the
| wants Of the population till next harvest. The
appearance Of the growing crops is remarkably
good, and if the fly DO not seriously damsge IT, the
coming harvest viii be the largest that has been
! resped for years.
Toward the close Of the late session, dispstch
was received by the Governor. General from Lord
Stanley, urging him TO press upon his Council the
adoption OF the principle OF the English law oi
divorce. TIE Council, when the matter was
| brought before them refused conpllsnce. The
Lower Canadians are opposed to divorce, on the
principles taught them BY the Roman Catholic
Church, in any shspr; and | suspect II Will be
fficut 10 get them to assent to = measure for
egalizing in Canada divorces effected in England.
Ii is certain they viii not 20 further than this so
that there il no chs0ce of Lord Stanleys recon
mebdaton to adopt tie principle of the English law
of divorce in Canada being acted upon.
In pursuance OF Il law OF last session. 1t Il ex-
pected that bill attempt viii be made to convert the
whole public debt of the Province into Al per cent
consols, redeemsbe or not at the option OF the
Government, after twenty years. The conversion
will include the debentures issued on the credit OF
the Municipal Loan Fund, Of which the Govern
ment is the administrator. Whether the Finance
| Minister-for that title has now been substituted
for that of Inspector. Genersl-wiD 20 home again
10 try 70 effect the conversion has not transpired
The anticipation Of 8 good harvest has gwen
considerable briskness TO the import trade, and
there is prospect that the years revenue wI be
srRe. The revenue for the last five months must,
however, depend mainly on the character of the
harvest The increased tariff, as we'll as increased
importation. has something to do with the improve
ment of the revenue.
In regard TO immigration, tho years prospect il
veIy poor. Last year, We received altogether only
some l3, 900 emigrants and this year, - co0pared
with last the falling OF IN those arrived and known