CAP. LXIX. An Act to amend the Act to establish Freedom of Banking in this Province. [ 30th August, 1851. ] WH HEREAS it is expedient that statements of the Assets and Liabilities of Banks to be established under the Act passed in the Session held in the thirteenth and fourteenth years of Her Majesty's Reign, and intituled, An Act to establish Freedom of Banking in this Province, and for other purposes relative to Banks and Banking, should be made up and published more frequently than is required by the said Act: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, That the statement of the Assets and Liabilities of every Bank established or to be established under the Act first above cited, required by the thirtieth section thereof, shall (instead of being transmitted half yearly, as in the said section provided,) be transmitted to the Inspector General on the first day of each month in every year (or if such day be Sunday or Holiday, then on the next day not being so) made up to and bearing date upon the evening of the last day of the preceding month not being a Sunday or Holiday, and such statement shall be published by the Inspector General, at the expense of the Bank, and in such way as he shall think most conducive to the public good; and every such statement shall contain all the particulars mentioned in the said section, and shall be attested in the manner therein provided; and by any neglect to transmit any statement, or by any wilfully false statement, the Bank in default shall incur the same penalties and consquences, and the Inspector General shall have the same powers, if he suspects any statement to be wilfully false, or if it appears by any statement that the Bank is insolvent, as are provided in similar cases in and by the said section, which shall hereafter be construed and have effect as if the words "the first day of each month in every year" had been inserted in the said section, instead of the words "the first day of January and July in each year," where they occur in the said section, except in so far as such construction would be inconsistent with any provision of this Act. II. And whereas by the last proviso to the second section of the Act hereby amended, it is provided that the said section shall not, during twelve months next after the passing thereof, apply to any Banks or Company not thereinbefore excepted, and authorized by Legislative enactment to issue Bank Notes, and it is expedient to extend the time allowed by the said proviso: Be it therefore enacted, that the said section shall not, until the first day of January, one thousand eight hundred and fifty-five, apply to any Bank or Company excepted from its operation by the said proviso, provided such Bank or Company shall reduce the amount of its Bank Notes not secured by the deposit of securities upon which registered Bank Notes may be issued under the said Act, in the following manner, that is to say: before the first day of January, one thousand eight hundred and fifty-two, such amount shall be reduced to not exceeding three-fourths of the average circulation of such Bank during the year one thousand eight hundred and fifty; before the first day of January, one thousand eight hundred and fifty-three, such amount shall be reduced to not exceeding one half the said average circulation; before the first day of January, one thousand eight hundred and fifty-four, such amount shall be reduced to not exceeding one-fourth of such average circulation; and before the first day of January, one thousand eight hundred and fifty-five, such amount shall be reduced to nothing but if any such Bank or Company shall fail to make any such reduction as aforesaid, then, upon such failure, the said section shall immediately apply to such Bank or Company which shall be liable to all the penalties imposed by the said Act for any contravention thereof. CAP. CAP. LXX. An Act to exempt the several Chartered Banks from the Tax on their circulation on certain conditions. WH [ 30th August, 1851. ] Any Bank may, on consenting to restrict amount, obtain a remission of the its issues to a certain tax imposed by 4 & 5 Vict. c. 29. HEREAS it is expedient to encourage the present Chartered Banks to adopt, Preamble. as far as may be conveniently practicable, the principles embodied in the general Banking Act, passed in the now last Session of the Provincial Parliament, as regards the securing of the redemption of their Bank Notes: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, That if any Bank chartered, incorporated or recognized by or under any Act of the Legislature of this Province, shall certify to the Governor of this Province, its willingness forthwith to restrict the amount of its Bank Notes to be thereafter in circulation at any time, to an amount not exceeding the highest amount of its Bank Notes returned as in circulation at any period included in the now last statement delivered to the Receiver General by such Bank, under the Act passed in the Session held in the fourth and fifth years of Her Majesty's Reign, and intituled, An Act for levying a certain rate or duty on Bank Notes issued and in circulation in this Province, and at the end of three years to restrict the amount of its Bank Notes thereafter to be in circulation at any time, to an amount not exceeding the average amount thereof returned as being in circulation in the years one thousand eight hundred and forty-nine and one thousand eight hundred and fifty, excepting, in either case, such further amount as shall be represented by securities as hereinafter provided, an Order in Council may thereupon be made and published in the Canada Gazette, restricting the circulation of the Bank Notes of the said Bank accordingly, except as aforesaid, and such Order shall have effect from the date thereof, as if such restriction were made by an Act amending the Charter or Act incorporating such Bank; and from and after the date thereof, and for the three years next thereafter, such Bank shall be liable to one half only of the duty which would otherwise be payable by it under the Act last aforesaid, and after the expiration of the said three years, no duty shall be payable by such Bank under the said Act; and the Directors or other managing body of any such Bank, are hereby empowered to authorize the President, or other Officer of the said Bank, to give the certificate aforesaid in the name of the Bank, and under its Corporate Seal. II. Provided always, and be it enacted, That notwithstanding any such Order in Council, it shall be lawful for the Bank to which the same shall apply, from time to time to issue and have in circulation an amount of Bank Notes beyond that mentioned in such Order, but not exceeding the value for which the said Bank shall hold as its own property, gold or silver coin or bullion, or debentures of any kind issued by the Receiver General, except such as are or may be issued under the Acts relative to the New Court Houses in Lower Canada, or those relative to the Building for the sitting of the Courts at Toronto, the value of such debentures being reckoned at par; and it shall not be necessary that such debentures be deposited and registered notes obtained on them, as provided by the Act hereinafter cited, but their nature, amount and value as aforesaid, and the amount of such gold and silver coin or bullion as aforesaid, and that of the Bank Notes issued upon the same, shall be shewn in all official statements of the affairs of the Bank required under any Act or Law; and the proceeds of the said gold and silver coin or bullion and debentures shall, in the event of the failure of the Bank, be applied exclusively to the redemption of its outstanding Bank Notes; no duty shall be payable on any Bank Notes lawfully issued under this section; but by any excess of issue not authorized by this Act, the same penalties shall be incurred and Order in Council to issue upon such consent-its effect. Notwithstanding such restriction, the Bank amount of Bank Notes equal to the amount or reserved to meet them. may issue a further specie or debentures Bank to give in state ment, Penalties. Word "Bank Notes" how to be understood. 13 & 14 Vict, c 21. and the same legal consequences shall follow as would have been incurred by or would have followed an illegal excess of issue, if this Act had not been passed. III. Provided always, and be it enacted, That every Bank which shall avail itself of the next preceding section of this Act, shall cause to be made up to the last day of each month in every year which shall not be a Sunday or Holiday, a statement of the liabilities and assets of such Bank, in the form, and containing the particulars shewn in the Schedule to this Act, which statement shall be verified by the declaration of some one of the Directors, or by the Cashier or some other like Officer of the Bank having a knowledge of the truth of the contents of such statement, and such statement shall, within ten days after the day to which the same shall be made up, be published by the Bank in some newspaper published at the place where such Bank has its chief seat of business; and for every default to publish such statement within the time hereby prescribed, such Bank shall forfeit to Her Majesty, for the public uses of the Province, the sum of Twenty-five Pounds currency for each day during which such default shall continue, and for any wilfully false entry in any such statement, the Bank shall forfeit to Her Majesty, for the uses aforesaid, the sum of Two Hundred Pounds currency; the sums so forfeited to be recovered with costs as a debt due to the Crown, in any Court having jurisdiction to the amount in civil cases, and when recovered, to form part of the Consolidated Revenue Fund of this Province. IV. And be it enacted, That the words "Bank Notes" in this Act, shall have the meaning assigned to them in the Act passed in the session held in the thirteenth and fourteenth years of Her Majesty's Reign, and intituled, An Act to establish freedom of Banking in this Province, and for other purposes relative to Banks and Banking. Notes and Bills discounted or other debts due to the Bank, not included :: W CAP. LXXI. An Act to amend The Post Office Act. [ 30th August, 1851. ] HEREAS it is expedient to amend the Act passed in the Session held in the thirteenth and fourteenth years of Her Majesty's Reign, intituled, An Act to provide for the transfer of the management of the Inland Posts to the Provincial Government, and for the regulation of the said Department, and to make further provision in that behalf: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, That so much of the said above cited Act as may be inconsistent with the provisions of this Act, or may give power to make regulations on any subject provided for by this Act, be, and the same is hereby repealed. II. And be it enacted, That it shall be the duty of the Postmaster General to give Public Notice, in one Newspaper published at the Seat of Government, and in one or more of the Newspapers published in or nearest to the County or Counties where the contract is to be performed, for at least six weeks before entering into any Contract for carrying the Mail involving an annual cost of more than Fifty Pounds per annum, that such Contract is intended to be made, and the day on which it is to be concluded, describing the places from and to which such Mail is to be conveyed, the mode and frequency of its transportation, the time at which it is to be made up, and the day and hour at which it is to be delivered; he shall, moreover, within ninety days after the making of any Contract, lodge a duplicate thereof in the Office of the Inspector General of this Province: Provided, that no Contract shall be entered into for a longer term than four years, and that the Postmaster General may make temporary Contracts for such services until a regular letting in the form prescribed can take place. Preamble. Certain portions of 13 & 14 Vict. c. 17, repealed. Mode of advertising for tenders for mail service. Tendors and duplicate of contract to be spector General. lodged with the In Additional compensa III. And be it enacted, That no additional compensation shall be made to any Mail Contractor so as that the compensation for addition regular service shall exceed the tion limited. exact proportion which the original compensation bears to the original services stipulated to be performed; and no extra allowance shall be made to any Contractor by the Postmaster General, for an increase of expedition in the transportation of the Mail, unless thereby the employment of additional Stock or Carriers by the Contractor shall be rendered necessary; and in such case, the additional compensation shall never bear a greater proportion to the additional Stock or Carriers rendered necessary than the sum stipulated in the original Contract bears to the Stock and Carriers necessarily employed in its execution. IV. And be it enacted, That proposals for Mail Contracts shall be delivered to the Lowest tender to be Department sealed, and shall be kept sealed until the biddings are closed, and shall then accepted. be opened in the presence of the Postmaster General; and the Contracts in all cases in which there shall be more than one tender, shall be awarded to the lowest bidder tendering sufficient security for the faithful performance of the Contract, unless the Postmaster General shall be satisfied that it be for the interest of the Public not to accept the lowest tender: Provided, however, that the Postmaster General shall not be bound to consider the bid of any person who shall have wilfully or negligently failed to execute or perform a prior Contract; Provided further, that the Postmaster General, in all cases where he omits giving the Contract to the lowest bidder, shall report his reasons therefor to the Governor General, for the information of the Legislature. Proviso. V. And be it enacted, That it shall be the duty of the Postmaster General to have recorded, in a well bound Book, a true and faithful abstract of offers made to him for to be recorded. carrying the Mail, embracing as well those which are rejected as those which are accepted; accepted; the said abstract to contain a description of each Contract advertised for public competition, the dates of the offers made, the dates at which they were received by the Postmaster General, the names of the parties offering the terms on which they propose to carry the Mail, the Sum for which it is offered to contract, and the length of time the agreement is to continue; and it shall also be the duty of the Postmaster General to put on file and preserve the originals of the propositions of which abstracts are here directed to be made, and to report at each Session of the Provincial Parliament a true copy from the said record of all offers made for carrying the Mail as aforesaid. VI. And be it enacted, That if any person employed in the Post Office Department the department not to shall become interested in any Mail Contract, or act as agent with or without compensation in any matter or thing relating to business in said Department for any Contractor or person offering to become a Contractor, he shall be forthwith dismissed from office. Persons employed in be interested in contracts, &c. Tenders to be accompanied by a written guarantee. Contracts for less inan entered into. VII. And be it enacted, That every proposal for the transportation of the Mail shall be accompanied by a written undertaking, signed by one or more responsible persons, to the effect that he or they undertake that the bidder will, if his bid be accepted, enter into an obligation, in such time as may be prescribed by the Postmaster General, with good and sufficient sureties, to perform the service proposed; no proposal shall be considered unless accompanied by such written undertaking; if, after the acceptance of a proposal and notification thereof to the bidder, he shall fail to enter into an obligation within the time prescribed by the Postmaster General, with good and sufficient sureties for the performance of the service, then the Postmaster General shall proceed to contract with some other person for the performance of the said service, and shall forthwith cause the difference between the amount contained in the proposal so undertaken, and the amount for which he may have contracted for the performance of said service, for the whole period of the proposal, to be charged up against the said bidder and his surety or sureties, and the same may be immediately recovered for the use of the Post Office Department, in an action of debt in the name of the Postmaster General against either or all of the said persons. VIII. And be it enacted, That the Postmaster General may at his discretion submit £50 per annum, how Contracts for Mail transportation, involving an annual expense of less than Fifty Pounds, to public competition in the manner and form prescribed for Contracts of a greater annual charge, or he may direct an Agent to receive Tenders for and execute such Contracts on his behalf, or he may in special cases conclude such Contracts by private agreement when he may conceive the public interest will be promoted by such a course: Provided always, that he shall not pay, under any such Contract made by private agreement, a higher rate of annual payment for the service to be performed, than is ordinarily paid for services of a like nature under Contracts let by Public Advertisement. Proviso. Contracts not to be made with persons keep back tenders. IX. And be it enacted, That no contract for the transportation of the Mail shall who have combined to knowingly be made by the Postmaster General with any person who shall have entered into any combination, or proposed to enter into any combination to prevent the making of any bid for a Mail Contract by any other person, or who shall have made any agreement, or shall have given or performed or promised to give or perform any consideration whatever, or to do or not to do any thing whatever, in order to induce any other person not to bid for a Mail Contract; And if any person so offending be a Mail Contractor, he may be forthwith dismissed from the service of the Department: Provided always, that whenever the Postmaster General shall exercise the power conferred on him by this section, he shall transmit a copy, or statement of the evidence on which he acts, to the Governor General of this Province. Proviso. Unclaimed letters to be advertised, &c. X. And be it enacted, That all advertisements made under the orders of the Postmaster General, in a Newspaper or Newspapers, of Letters uncalled for in any Post Office, shall be inserted in some Newspaper or Newspapers of the town or place where the Office advertising may be situated, or of the town or place nearest to such Post Office, provided the Editor or Editors of such Newspaper or Newspapers shall agree |