vite rhea ‘VOL. IIL RIE - alii: sgmiee 9s set tav@ art : i nn tn ia mana SS CHARLOTTETOWN, P,. E. ISLAND, WEDNESDAY, JUNE 5, 1867, TBE BERALD 18 PRINTED AND PUBLISHED KVERY WEDNESDAY MORNING BY EDWARD REILLY, EDITOR AND PROPRIETOR, at his Office, Queen Street. TERMS FOR THE “HERALD.” For 1 year, paid in advance, £0 9 0 st ** half-yearlyinadvance,0 10 0 Advertisements inserted at the usual rates. JOB PRINTING, Wepnespay, May 8th. On motion of the Hon. Mr. MeDonald, a Bill to incorporate the Masonie Hall Company at Alberton, was again referred to a Committee of the whole House, reported agreed to without any amendment, read a third time and passed, ‘ Hon Mr. Haythorne presented a petition of J. D. Haszard, Theo. DesBrisay, P. W. Hyndman, and other inhabitants of this Island, praying that an Act might be passed to incorporate a Company to en- courage the growth and manufacture of flax. Ilon, Mr. Bexr: T presume there will be no dif- fieulty in getting an Act passed for that purpose. I am pleased to see such a movement made, for it’ is reported the bill agroed to with.certain amendments, Hon. Mr. Bauer wbserved that the despatches were printed and lying upon the table, and he thought it would be well to name some, day fer the House to go into Committee upon them. He would therefore move thatthey be made the order of the day for Friday next. t ane ‘Hon. Mr. McDonatp did not think it was neces- sary for the House to go into Committee upon them, unless it was the infeution of some of their honors to submit some resolutions and he was not aware that such was the case. They referred to matters) which had already taken place, and upon which ac- The House was then resumed, and the chairman lent. In the year 1847 th ¢ same difficulty was felt--the ‘same embarrassment in business—and the subject was |>rought before the Legislature. Application was made to issue a large amoant of Treasury notes, but objection wae taken to it by a few capitalists, and they petitioned the Imperial Government not to allow the notes to be issued, unless on some very safe footing—that there should always be a fund on hand to redeem them. That matter was ‘taken into consideration by the Colonial Minister, and well weighed by him, I was in England at the time, and had an mterview with him on the sab- ject; This was followed by a despatch to the then eutenant Governor, authorising the issue of Treasury notes, but requiring that a certain proportion of specie should always be funded for the purpose of redeeming Jahy amount ofthis paper which might be required, An Se id NO,: 35 to settle, while the circumstance of a large amount being remitted from this Island for a #éties of Yéars in the payment of rentis an embarrassment to the money marker. That places usin a different posi- ‘tion from the other Colonies. I remember that, his ‘honor from the city (Mr. Palmer) when be came to this point of making those notes redeomable, spqke with considerable hesitation, and I am not surprised at it, for these notes,must be paid, and { suppose the further off the evil day is put tie better,” "1 uve no objection to allowing the petition te lie upon table, though I am not prepared fo sanction the prayer of it. B ne Hon Mr Brrr: Tam sorry to heir’ hiv hohor ; A : = answer was requested before they would sanction the ; ; ‘ rae peel pat Bae mee ayn ageoyining yb y 7p and despat 3 | well known that flax, of an excellent quality, can be| 102 had been taken. ‘There was uo matter in them|neasure, I do vot know whether they _weuld, so farjceprose Mimasell it that way. Tt Tdi ot fe pe. . " grown here. I believe it can be grown as good which called: for avy: la@-ection-oa'the | part|interfero with our Colonial affairs as to insist upon such View fe take of the matter, but I differ from him. MOON 8 PIIASES. New Moon, 2d day, 11h. Om, morning, S. First Quarter, 9th day,2h. 25m., morning, N. W. Full Moon, 17th day, Oh, 42m., morning, 5. Last Quarter,25th day, 1h. 15m., morning, E. : here as in Ireland, or even better. Then when we consider that a large portion of our population are. we had something of that kind in operation it would be remunerative, and it would be an advantage to the country at large. I therefore hope and trust that the partics who havo inaugurated this move- ment will persevere, and that their efforts will be t. SUN High \Moon/, -, lany necessity for doing so now. “ jissue of treasury notes to a greater extent than is atjin circulation, and inthe meantime a considerable DAY | DAY WEEK. ; ee ie teal . a - opens I do not know whether it is Hon. Me. Weis thought that if the House went|Present in circulation. I do not think there would be/amount of interest would be saved to the Government, monn. ‘ rises|scts [Wat efrises. |Q 2 @ intention of t ¢ Company to purchase the flax iui 4 likes. | likely th tion/@EY .ereat danger if they were made redeemable injag hey are now paying Bix ou ; “jas it is taken off the ground, and as similar Com- et "te te e, it was very likely that some action)... in ten years, even uf we bad to adopt the novel ; | & hihi yer Lost. seas everee : i ho mh mb m | hm | hm |panies do in Canada, but I trust they will do some-|)°" d be takeo, still he had no objection to with-| modo of giving the holders the benefit of interest for) "°rTAh'* ie “overnment would dee fienbis shaior 1 ‘Saturday (4. 177 87 9 26, 8 57,15 20|thing of that kind. rrinpemepae sak ee fost drnaecomt- ie elgg tog omy oy on ams mp bowng guava aged Rink see ae Py wares ony : 17, 38.10 52\ set 21 : nse were allowed te brig forward a resolation at|tlemen who are better financiers than I pretend to be,|“ireulation. If a largeamount of treasury’ ts had 16| 39/11 43 ry 36 93 Hon, Mr Hayrirornz: Iam glad that his houor any time it he thought proper to do so. if they put their heads together, could p Ree some bet-jare put in cireulation they ‘will become de 6c 4 Tuovdig 16 pone bid 19 85] 94 has made theso remarke, for I am persuaded that) fron Mr, Lord would not oppose a member of the) ‘et plan. I miners that objections would be raised byjaud fall below par as they did before. ot an 5 \Wed y. 7 16 411 0 8610 26) 96| is an important subject, and well worthy of the!Goverhment, but he thought it was necessary to go into|'2° anke and by capitalists, and, perhane, obstructions/azo they were held ata discount of 15 or, 30 per 6 The we wd 151 42} 1 9811 19]. - 27 attention of the Legislature, not only because flax!Committee upon the despatches, as seme of them were ya be a the way; yet I hope and trast that,|cent., and if at that time there had been a larger ; Sone ay oa: ant o-oeni ae] ae grows well here, but because it is iv good demand|of great importance. "The first in point of importance — aor ie ie Knees and fs pions liberal eae issue of treasury notes, it would not have been the Fri a 3 5! and would be an important branch of local industry,|were those relating to Confederation, and pext, those) 1) a, redbion ae best t fe tt “the Cal ath whe (Case: I fear that if wede not-do something of that 8 {Saturday 14, 43:31 jmora. 29) The capital required {or its manufacture, if the first|"sPecting the military movement. The country had ii it present felt in the Celony, might be kind, the wareante elifiéati'tiebow rs dh 9 |Sunday- TH: 441 @ °T) © 94)” OO) i ee. fe not } | : been pufto.an immense expense for the establishment|"*prve’- ts gee crit H ; ages, is not large, but to enter into the manufac- ‘ . Hon. Mr, Bern: I am pleased to hear that some/publie contractors, schoolmasters and oth 10 | Monday M4 45) 5 5) 0-56) 81) tare of the finer qualities is, perhaps, beyond our we clang force, and ean it Fee wie % yay steps are beng taken to rattove the commercial dopres-|have to submit to a tary serious loss PHT 11 |'‘Tuesday i4' 46) G@ 2) 1 26) 82) .00n at present. I have seen machines in opera- he args soi ‘Segoe ork mM ey pale mer ge sion of the Colony, for I know that great inconvenience} 71, ic Avnneson :.1 do ent think ther jtsabe on 12 | Wednesday 18} 46) 6 59) 157 33)10n in Irclaud not long siuce, well adapted to. our|year the whole revenue of the Colony was appropriatad|'# felt on account of the citeulating modrum being $01, aay creat risk in issuing £30. 000 240,00 1s lasatlay | is] ar] ail 8 oe] _ paltricousshont £205 that fr wotng i Goma eainl sek hc fan oferta tug es ea fe he Bunty el, Wll therfore oeppert. he praerdt SBE . (o ? 9 ae the ’ j kg instalments due for the purehas' the Cunard Estate, : i. ei else i 17 |Monday li (ae “|thaa £200 sterling, It is gratitying to know thatliy \non it pes shan ike % deg ht try tolt#sted. .I think there are none of the Colonies but have on the, amouut that would be issued.’ “If a reasén- 18 Tuesday 18, 4911 40, 8 36) 35)the article produced here is of superior quality, and Hoes hy eathter setticketas chem a tite Dg a larger amount of Treasury notes in circulation than|Sble amount were issued, I canpot ‘sed that thé 19 | Wednesday | 13} 49 even.’ 917) ‘36) when its cultivation is better understood, the qual- i and to py Daa it with less Nspepie- jygneet we have. I do not see that there could be any objec-|would be any @ungor of the notes depréciatéd ; hut 20 ‘Thursday 13) 50) 1 0) 9 54) | 36 lity will probably be improved. I am sure the Bill there asa independent member, and Would oppose vo oe ag babies hy , Ore am cinaplation. le pay lif there was an over inoue cod thes ware O8F te ia Ait a ve ; ed gs 4: will receive all necessary attention in this House, |such a heavy expenditare abs, oe ae les Be aye ruedived’ ak hy rensnty. ta ps} Moh Py is ie a ms * erry ra ry hey would, I aturda ' .. |ment was all a mockery, It might alarm old avomen f ha # a we bi hink’ 1 wou @a service to the coun 2, 23 rsh 144 49 3 21180, 36] Hon. Mr. Dixawers: I am happy to hear that alput would bave ne effect upon sold old men like yt ‘would be found that they would not be received in pays}; further issue, but the success.of it would. a 5|Company is to be formed for such a purpose. Welself. NaWEN" OF Wubtie Beith hes, Cate Te eee C8. Wien, Tuy tre i 24 |Monday 15} 49 34712 0 toa be ote Rig ebacs ve anand cs 4s 1 Government to cancel them, and find other means tol ¥e'y much upon the amount. issued and the petiod 25 |Tuesday 15} 49 4 36 morn 84|should not ys ra give them aha sanction, but, if the| Hon, Mr. Drxawett was also of opinion that the! discharge their liabilities: 1 do not seo that there could of redemption, 1h 4s snlaties on ante Sines 4 7 49| 8 33| 2 31| 33| would be a great advantage to the country be-| Pl in the country did not know, bow the public money } Government in the tranenetion’of their business. Per- spoken of; but I am of opiniot that it : 29 [Saturday 1 | Bg|lieve ax ean be grown well.in all parts of the Is-| “2 *Ppropriated, and they had aright to such informa-| haps a few of the capitalists, who are-now able to lend|the reverse. I do uot thi the, $0 |Susdiy | 18} 49) 9 ” 2 23 Ce Bee gc mg pion poate 0 “|tion. flings eb ee eu labs large sums of money at a very high rate of interest, |®™ objection to an issue of £30,000 or, ee nce a Ton Mr. Lorp: I would just re mop gielk saaeetaahe Sonmines wane se rs partioal a Shea Saievepiecree t weimastdchenserte as voli otter be. sive We! peprap idee _- «Mr : . ! w in Go n ntures Prices Current. _ fication that such an en Cmaniorrerown, May 30, 1£67. terprise is abont to. taken, and also to hear that the fax growo here of such superior quality. I am not a practical far- mer, but I have seon flax growing on the Island, and uot employed in the winter, it must be seen, that je committee upon them. ~ hy Ane jar ne mnder- Ceerttvontiated bat the would rear t honor of the {louse or éf the Goverbinent, and therefore he did not’see any particular reason for going into The Governmént did not intend to submit any resolutions upon Contederation or any of the other subjects referred to in the des- patches. He remembered that for some years the Legislative Council did not go into Committee upou the despatehes, and he did not see that there was from Prince County (Mr. Berd) that if we were to ‘play the game of ‘sovernment,” we must asshine some terms now, but I do not think they would. I do not make these remarks because I am an advocate for the! issne of paper except upon a proper footing; but 1, think if is not imposvible that means should be devised) to issue a reasonable amount, and the value of the notes rendered safe and acceptable to the public, Ifoweser,! this matter did not originate with this House, and I did not come here prepared to propound any particular scheme which Would enable us safely to authorise the If we liad treasury notes issued to the amounsof half our revenue, I do not see that there is any damg- er. The revenue 18 paid principally by. the gmer- jchants, into whese hands those notes would falls and if it is found that they are belew par, people hesitate to take them, they the Government can- cel a portion of them every year. The euntigtbanla not be subjected to any loss ou. aeconnut of their being ad ranguis..mammantay. 1. therefinma. Lothinle . Should not complain, ‘relieve the public lectane would be advanced by adding £40,009 to the circulating medium of the country. instead of gold. His: -honor from ‘the Polos) opuke uf Ure ULner PPOVINCeS NAVI vee issue of treasury notes in circulation in proportion to their revenue than we have, but I do not think that avy are issued in New Brunswick, = =" Provisions ; set slare of the responsibility, and keep up a military force) Jion. Mr. Gorpon: For a long time I have Fe Gy ert oes 4d to 5d {before us, for I think it will be an advantage to the|Cenfederation. Not long since there was an attack | "ve - rt wanes fe t Treasury ven | but I believe nr would oy mere Tevenme for thére De (ounall) 6d to. {Colony in a few years. If I understood his honor,|made upon, Canada, and what was the result? Some there is a despatch from the Colonial Office upon re-)} wou a saving of £1,800 in interest. — , Mutton, per Ibs 5d to —_|the speaker before the last (Mr. Haythorne,) when/|fne young men lost their lives in the defence of their|cord, sayiug that it would not bo allowed. They) Won Mr. Harrnorne: I would just remind his Veal per es 3d to speaking oo this subject-on @ former éccasion, he|CoUn*t7; Sus the attack was nobly repelled. Thosejconsider tlat paper money is not money,|/honor that the depreciation of treasury warrants to om 0 : Gd to or ri : J Ctaipe yabine Hand|Parttes were. only waiting for-an opportunity to’ make aluntess there is specie to redeem it. Then if her|}which he alluded was at @ time.wheo the bank of Butter, (fresh) : = : - sare mae Pe eons rg oP (Scheme Sigg ae Sac — mie ad — a seat apace Majesty’s Government haye told us that an Act for| Prince Edward Island was in difficulty, aud it was Pint fot! ye "4a “s zd much injured, and if it can be used now it will bea nada, or Wows Scotia, or Wee Branewick. . were & ng genoa a wag deren their mpeg would) rather an exceptional ease; but I would like to hear hee. per thi, 0d to 10d}saving to the Colony. ye Colony. Me we Nota os prepared v2 de what we a > wise for us to Legislate upon the matter at — — aed se Bortte — measure “ 8d to 9d . _|could to defend ourselves. ‘The ancients a sayin a bo eir scheme for the redemption of thos 68 eon 3d to 34d Meg pring oe egg goons sea a ~~ which might be applicable in our case, ** the +| Hon. Mr. McDoxarp: I must say that I thivklis to be? Suppose a man brought in a bes Su Oatmeal, per 100 Ibs. 20s to 265) 4: ctions to dispose of it ret peace” yay y ea helped those who helped themselves.” if we could issue a larger amount of Treasury notes/those small notes aud demanded gold for them, and 8d to 10d Hon. Mr. Pater observed that if there was anything EES LL TE Ee ae Trl Eggs, per dozen, me Grain. , per bushel, 4s to 5s rota Day ay — Qs 9d to Ss , 4 Vegotables. eas, per quart, . Sossune, see bushel, 23 9d to 3s Poultry. Geese Tarkeys, each, 5s to 88 6d Fowls, each, 1s to oo Dueke, © Coafi . 1 — 208 to 80s sh, per qtl., imoortagis pet barrel, 258 to 40s Mackerel, per dozen, Lumber. Boards (Hemlock) 4e Do * race) 4s to by Do ne) 7a to 9s Sbingles, per M, 13s to 18s Sundries. Hay, per ton, 100 to 110s Straw, per cwt., “208 to 25s ‘Yimothy Seed, 18s to 20s Clover Seed, per Ib., 1s 6d Homespon, per yard, 4s to 6s Calfskins, per Ib., Gd to 9d Hides, por ib., 4d Wool, 1s to 1s 3d Sheepskins, 5a to 6s Apples, per doz., 2d to 4d ; GEORGE LEWIS, Market Clerk. Fa a ama COLONIAL PARLIAMENT, DRBATES AND PROCEEDINGS OF THE LEGISLATIVE COUNCIL. Council Chamber, Turspar, May 7th. On motion of the Hon Mr. McDonald, a Bill to incorporate the Masonic Hall Company at Alberton, was read a second time, committed to » Committee of the whole House, and progress reported. A Bill to amend the Act relating to Land Assess- ment was also read a second time and committed, — Hon. Mr. Lord in the chair. ‘Hon. Mr. Beer observed that the same rate of assessment was imposed upon the lots which had been recently sold, and which wore formerly known as the barrack ground, as upon other town. lots. That he considered right and proper, but a door might be opened to litigation, inasmuch as the par- ties who had purch these lots had tho privilege of extending them by building out in the water on the side‘of the fiver. _— Hoase resumed and progress reported. _ » Adjourned till.to-morrow at eleven o'clock, # . Jelause was amended by strikin tested two samples, and found them to grow well, though perhaps it is not as good as new seed. Hon. Mr. Dincwetr: As his honor has -giveo as some information respecting the seed, perhaps it would be interesting to the country to know what price has been set upon it. Hon. Mr. Harruorne: The price set upon it is 7s. 6d. por bushel. Hon. Mr. Pat mer: I will also support the prayer of the petition, and I trust it may lead to some use- ful and successful experiments. Although I am not sufficiently acquainted with the production of the artcle to give an opinion upon it, yet, from all I can learn, I think it is a branch of industry which is well worthy of pursuing, as I think it would be a great advantage to the Istand. I would also give my support to the apprepriation of auy reasonable amount for’ the Importation df seed, or for any other purpose in connection with this projeet, that would be considered most conducive to tho interests of the people. ‘2 Petition laid on the table. (Committee resumed.) Hon, Mr. Paumer: My attention has been called to the socond clause in this bill, which imposes a tax upon the old barrack ground. The provision mado for enforcing and collecting the tax is not worded with stifficient accuracy to embrace the bar- by transposing the second clause and introducing another short one. I therefore move that the se- cond clause be struck out of its present place, and) the following introduced :— “The land in Charlottetown formerly known as the Barrack Square, and the-owners and occupiers thereof shall be liable horeafter to pay Land Assess- ment under the said Act, in proportion to aren, on the same footing, and to the same extent, as Town Lots in Charlottetown.” “Tor recovery of the said last mentioned assess~ ment thereby imposed, the aforesaid Act of the Tweoty-seventh Victorian, Chaptor*Thirty-seven, and all other Acts of the Legislature in toree in any way relating to the recovery of land assesamonty shall, io all their provisions and in all respects where appli- cable, extend to and be binding on the said last men- tioned land. And the assessmont thereon for the current year shall become duc and be payable on the same day as the assessment on Town Lots liable to assessment ia Charlottetewn aforesaid,” Amendment agreed to. On motion of the Hon. Mr. Palmer, the Tast out the word “re- “2 $iaar rack property. I think the bill may be improved sy in the despatches which was worthy of being discussed, notice should be given that they would be taken up on some particular day, so that their honors would be pre- pared to enter into a discussion. It was taking the members of the House by surprise to go into a discus- sion then. There might be some of the despatches which required comment or an expression of opinion on the part of the House. For his part, he had no parti- enlar resolution which he intended to offer, yet if the despstches were taken up, and a discussion were called forth, he would probably take part ir it, but he consid- ered it out of place to discuss the subject matter of them at that time. llon. Mr. Beer then, by leave of the House, with- drew his motion, and gave notice in the order book that he would eall the attention of the House to the despatches on Friday next. Adjourned till to-morrow at eleven o'clock. ° Trursbay, May 9th. On motion of the Hons Mr. MeDonald, a Bill to amend the act relating to land assegsment. was read a third time and passed, ' a A message was brought from the House of Assembly by the Hon. Attorney General, with a bill to continue and amend certain acts therein mentioned relating to education, . The said.bill was read @ first time and or- dered to be read a second time to-morrow. Hon, Mr, @auen presented a petition of certain in- habitants of Charlottetown, praying the i.egislature to authorize the isste of Treasury Notes, to relieve the commercial depression which was experienced for want of a sufficient circulating medium. In presenting the tition his honor said:—I think the subject matter of thé petition is well worthy of the consideration of the Legislature, as it ie s question of some importance. I do not know exactly what the sentiments of the pe- titioners are, as the petition has just been placed in my hands, but I observe that it is namerously and _respect- ably signed, and I hope it will meet with a favorable reception. I believe your honors will agree with the petitioners that there is a great incoavenience felt for want of a circulating medium, and the means. of earry- ing on the business of the country, 1 know it is owing in a great measure to a combination of circumstances which we could not prevent. The ted depression in the ship building business, the pure of large pro- prictory estates during the past year, and the dullness of, the market for gigi tr produce, have all con- tributed to produce this result, and it calls for the con- sideratién of the Legislature if anything can be done to relieve this pressure. “I eannot but agree with tho po- titioners that the issue of Treasuary Notes would, in some » assist in relieving the cL We have’only a small amount of treasury notes, £11,506, 1 believe, in circulation; and Ido not see any necessity for keeping that species of ‘circulating médiuni so low, B ase woncer omen Se wo not double or, treble or even quadruple tha»amoynt. In the other Provinees, if ihy memory serves well, they have a mach larger amount, in rtion th their revenue, in diteulation than we have. only difficulty we would have to. aneounter would be to some es by it would be a convenience, not only to the Govern- ment, but to the community at large. Tho amount at present in circulation is only about three shillings per head of the population, and twenty years ago, I suppose, it was equal to mnch more than that. I have not looked carefully iuto the matter, and am not prepared to say what relative proportion it bore to the popolation, but I think it mast have been much greater. I believe that even the small amount of treasury notes at present in circulation is found to be of great convenience in making exchanges 1n vatious ways, for they sometimes save gold to the Banks. A person sometimes presents a check at the Bank and receives payment in treasury notes, whereas, if he took the notes of the Bank, they might be returned and gold demanded. The seheme suggested by his honor from the city (Mr. Paltaor) toissue notes for ten years and pay interest upon them for the last two years, is oae which I have not heard before, and am not prepared to say how it would work. Tf a large amount were put in circu- lation, and not redeemable for ten years, I am afraid they would become depreciated. Still I think a scheme might be devised, by which they might be issued with safety to the Government and to ihose who hold them, In Canada they issue a large amount under the control and supervisions of the Government, and they are found of great convenience both to the Government, and to the country at large. I suppose any measure of this kiad would require to come from the other branch of the Legislature, but still it would be well to have an expression of opinion from members of this House, as our views will go forth, and some measure might bo founded upon them which might be beneficial to the conutry. owever, I am not prepared to give a decided opin- ion upon the matter at present. Hoa. Mr. Harrnonne: I think a subject of this great importance should not be discussed in this hasty and rather irregular manner. It should only be bronght up after due deliberation, and after pro- per notice had been given. It appoars that the ob- ject contemplated is something like what is propos- ed in other cases of a similar nature. The general panacea for a depression jn trade isan extraordinary issue of paper. The petitioners, it would appear, wish to turn the Goverament into a banking estab- lishment. Tt has béen said that a large amount would circulate without injury—that it would be re- ceived at the treasury in the payment of duties, aud paid out again to those who take Government, con- tracts, &c., but it must be remembered that those potes wonld ultimately return, and must be cou vert~ ed into gold and billy of exchange, and when they arrive at their last destination, perhaps they would not be received. Therefore 1 think it is not advia- able to:issue # | amount of treasnty notes. As pealod” and inserting the word “ repeated. ‘ - ‘ i ™~ hi would be, converts abe res- be ‘ Liss Wy pariea we sludere ys rele or its equiva- é # suppose they were not redeemable, what would :be the case? I would like to hear that explaineds + : Hon. Mr. Pacer: I believe, your honors, that it is not expected that any scheme is digested and would be pronounced here to-day. It has been said by myself and others, that it has not undergone any consideration, and that any measure of . that kind cannot be initiated in this House, therefore we cannot be expected to prepound any particular scheme. I feel just as much at a lossy as any” of your honors in speaking to the point; bat Teannot agree with his honor who has just sat down, and I also regret to hear such ideas from him, as his sen- timents are generally liberal and commendable. His honor says that an additional issue of paper is the general panacea for depression in trade. . Well, there is no doubt of that.remedy being Trequent} resorted to. If there was-no tightuess there woul not be so much want of additional cireulating® me- dium, It is true that a very largo amount: of ‘ctr- rent paper money is not very desiaable if it €ab be avoided ; but his honor must recollect that we have fully £60,000 Treasury warrants afloat aod bearing interest, and our appropriations this year ibe £60,000 or £70,000 more, all bearing interest. “Why should this be less objectionable to the Colony, or more secure to the holders, than Treasury pores is- sued ov the faith of the Government? I do fot say that we should issue Treasury notes to, redeem the warrants now extant, but let all Treasury war- rants issued iu future be subject to: redemption. jn Treasury notes,to be issued as the ee ee may deem expedient. Or if we 5 give the holders the privilege of taking Treasury Warranta in exchange for their notes ata certain ‘rate of what greater ovi! would that be than issuing the rants now? ‘IT approach this subject with creat dit. dence, for I do not profess to be intimately with the dificult points of finanee matteré, be sorry to enter beyond my xeheme, bat L do not think tt is sibility for this Island to’ msne asury such security as would be as safe and acteptable to holders as any paper monay held by the people. not speak of Government debentures,’ as they are Pp vided for by special enactments, and would not’ bé of- fected by an additional issue of notes. Bat ae it was observed, no particular notice was given of this” t coming betore the louse, and it haw eee waves the petition be laid on the table. It will therefore competen’ to take it up at a fature day, and your ean come prepared to discuss it more ea ‘This’ tor has net originated with me, but with of Charlottetown, from whom I have not had any diveetions respecting it, yet I felt it te be'my ‘to give expression to my sentiments in etch why as a representative of their interests: Tt a islation whieh will require much ‘time,’ | mall that will be*necesdary, to the other Colonies, they have no Land Question ¥ * tipon, and if any” “comes branch of the: / Pwilt ‘give cersicn Ghw .yeonce Te eiwe is tet hey 9c) oa ccanyae . Ide