. Canada: an encyclopædia of the country; the Canadian dominion considered in its historic relations, its natural resources, its material progress and its national development, by a corps of eminent writers and specialists. hich it had been begun. The sale of landunder the grant gave little aid at this stage, asGovernment land could be obtained free along theline of the railway. To meet the difficulty, theCompany purchased from the Government aguarantee of three per cent, per annum for tenyears on the $65,000,000 of stock already soldand on the $35,000,000 of stock undisposed , calculat
. Canada: an encyclopædia of the country; the Canadian dominion considered in its historic relations, its natural resources, its material progress and its national development, by a corps of eminent writers and specialists. hich it had been begun. The sale of landunder the grant gave little aid at this stage, asGovernment land could be obtained free along theline of the railway. To meet the difficulty, theCompany purchased from the Government aguarantee of three per cent, per annum for tenyears on the $65,000,000 of stock already soldand on the $35,000,000 of stock undisposed , calculated at four per cent., cost $16,091,152 CANADA : AN ENCYCLOP/KDIA. i6i to meet twenty half-yearly payments ot one and ahalf per cent. each. Of this, $8,710,240 was paidin cash, the remainder being deferred for a shorttime. Owing, however, to disturbance in theAmerican railway market, the result of thisarrangement was disappointing, and it becamenecessary to obtain a loan from the Governmentto prevent complications and dangerous opposition was raised to this proposal, notmerely by the Opposition in Parliament, but alsoamongst the Ministerialist party, and even bymembers of theCabinet. It was only when the. Richard B. Aiitjus. consequences to themselves and their party, aswell as the injury to the country, were madeapparent to the objecting Ministers by some oftheir more far-seemg colleagues that objectionswere withdrawn and a loan agreed to. Without this the enterprise must have col-lapsed, bringing rum upon its courageous man-agers, discredit upon Canada, and setting backfor a generation the growth and prosperity of thecountry. Fortunately this was averted, and itmay now be said of those who at one time were opposed to the degree of Government encourage-ment and assistance given to the and whodisapproved of the plans and methods adopted inthe construction, that many have changed theiropinion, some fairly admitting that they had mis-taken the conditions and u
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