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• I N T R O D U C T I O N . 1 7
events, that Parliament would be asked to annul even such
a charter as this, i n order, as set forth i n the Queen's Speech,
that a l l obstacles to an unbroken chain of loyal settlements,
stretching f r om ocean to ocean, should be removed." B r i t i sh
Columbia, which had become a Province i n 1858, was now
urging the Imperial Government with might and main to
furnish a waggon- road and telegraph line to connect her, not
only with the Territories and Canada, but with the United
Empire. She was met by the stiffest of opposition, the
opposition of a very old corporation strongly entrenched in
the governing circles of both parties. But the clamour of
B r i t i s h Columbia was i n the air, and her suggestions, hotly
opposed by the Company, had been brought before the House
of Lords by another peer. In the discussion which followed,
the Duke of Newcastle declared that " it seemed monstrous
that any body of gentlemen should exercise fee- simple rights
which precluded the future colonization of that territory, as
well as the opening of lines of communication through i t ."
The Minister's idea at the time seemed to be to cancel the
charter, and to concede proprietary rights around fur posts
only, together with a certain money payment, considerably
less, i t appears, than what was ultimately agreed upon.
The Hudson's B a y Company, alarmed at the outlook and
the attitude of the Colonial Secretary, offered their entire
interests and belongings, trade and territorial, to the Imperial
Government for a m i l l i o n and a half pounds sterling, an offer
which the Duke was disposed to accept, but which was unfortunately
declined by M r . Gladstone, then Chancellor of the
Exchequer. The Duke, who had resigned his office i n 1864,
died i n October following, and i n the meantime a change of
a startling character had come over the time- honoured company,
which sold out to a new company in 1863, being
merged into, or rather merging into itself, an organization
known as " The Anglo- International F i n a n c i a l Association,"
which included several prominent American capitalists. The
old name was retained, but everything else was to be changed.
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| Title | Page 20 |
| OCR | • I N T R O D U C T I O N . 1 7 events, that Parliament would be asked to annul even such a charter as this, i n order, as set forth i n the Queen's Speech, that a l l obstacles to an unbroken chain of loyal settlements, stretching f r om ocean to ocean, should be removed." B r i t i sh Columbia, which had become a Province i n 1858, was now urging the Imperial Government with might and main to furnish a waggon- road and telegraph line to connect her, not only with the Territories and Canada, but with the United Empire. She was met by the stiffest of opposition, the opposition of a very old corporation strongly entrenched in the governing circles of both parties. But the clamour of B r i t i s h Columbia was i n the air, and her suggestions, hotly opposed by the Company, had been brought before the House of Lords by another peer. In the discussion which followed, the Duke of Newcastle declared that " it seemed monstrous that any body of gentlemen should exercise fee- simple rights which precluded the future colonization of that territory, as well as the opening of lines of communication through i t ." The Minister's idea at the time seemed to be to cancel the charter, and to concede proprietary rights around fur posts only, together with a certain money payment, considerably less, i t appears, than what was ultimately agreed upon. The Hudson's B a y Company, alarmed at the outlook and the attitude of the Colonial Secretary, offered their entire interests and belongings, trade and territorial, to the Imperial Government for a m i l l i o n and a half pounds sterling, an offer which the Duke was disposed to accept, but which was unfortunately declined by M r . Gladstone, then Chancellor of the Exchequer. The Duke, who had resigned his office i n 1864, died i n October following, and i n the meantime a change of a startling character had come over the time- honoured company, which sold out to a new company in 1863, being merged into, or rather merging into itself, an organization known as " The Anglo- International F i n a n c i a l Association," which included several prominent American capitalists. The old name was retained, but everything else was to be changed. |
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