"All public lands not sold or granted; canals, public harbors, light-
houses, and piers; river and lake improvements, railway
Stocks,
mortgages, and other debts due by railway companies to the provinces;
custom-houses and post-offices, shall vest in the United States; but
all other public works and property shall belong to the State
governments respectively, hereby constituted, together with all sums
due from purchasers or lessees of lands, mines, or minerals at the time
of the union.
"ARTICLE II.
"In consideration of the public lands, works, and property vested as
aforesaid in the United States, the United States will assume and
discharge the funded debt and contingent liabilities of the late
provinces, at rates of interest not exceeding five per centum, to the
amount of eighty-five million seven hundred thousand dollars,
apportioned as follows: to Canada West, thirty-six million five hundred
thousand dollars; to Canada East, twenty-nine million dollars; to Nova
Scotia, eight million dollars; to New Brunswick, seven million dollars;
to Newfoundland, three million two hundred thousand dollars; and to
Prince Edward Island, two million dollars; and in further consideration
of the transfer by said provinces to the United States of the power to
levy import and export duties, the United States will make an annual
grant of one million six hundred and forty-six thousand dollars in aid
of local expenditures, to be apportioned as follows: To Canada West,
seven hundred thousand dollars; to Canada East, five hundred and fifty
thousand dollars; to Nova Scotia, one hundred and sixty-five thousand
dollars; to New Brunswick, one hundred and twenty-six thousand dollars;
to Newfoundland, sixty-five thousand dollars; to Prince Edward Island,
forty thousand dollars.
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