Bill for incorporating Loan & Investment Societies.
The Attorney General enters a strong protest against the Bill,
but a considerable part of that protest is directed against
the provisions of the Bill as first introduced before the Council.
In favor of the measure is a protest signed—as
Mr Birch tells
me—by the most influential & respectable merchants. The
Govr
is slightly in favor of the measure.
Without going so far as to say that the Bill is free from all
objections, I should be disposed to instruct the Govr that he
may assent to it. It is in a great measure based upon the Act
of Upper Canada, as will be seen by the references to that Act
in the margin of the copy of the Bill. That Act applies,
however, to Building Societies only.
I think the Colonists—and especially the Merchants—may be
trusted in a measure of this kind.
Yes.
Should not the
Govr be instructed to send over the Minutes of
the Leg: Council, or at all events to give the S. of State some
information
as to the proceedings when a Bill was under
discussion before the Council in every case where such Bill is
not assented to by him.
Yes.
It is desirable to know whether the
principle of the Bill was fought or only the details.
State that it is probable
that the Bill will require amendment, but having passed the L.C.
Lord G sees no such objection to its provisions as would require
the
Govr to withold his assent to it.
Then give the above instrns as to forwarding copies of minutes
of L.C.