November 1, 1867

BANK MEETING WITH GOVERNMENT

The representatives of the Ontario banks, Senator Hon. Donald McDonald (Liberal), Hon. John Hillyard Cameron, MP (Conservative, Peel), Mr. Thomas C. Street, MP (Conservative, Welland), and Mr. Thomas N. Gibbs, MP (Liberal-Conservative, Ontario South), met yesterday with the Prime Minister Sir John A. Macdonald, Minister of Finance Hon. Alexander Galt, and Minister of Inland Revenue, Hon. William Howland.

The banks asked that the Bank of Montreal be required to redeem legal tenders at their places of issue and that they only be permitted to demand settlement of their balances from the other banks at the places where it redeems provincial notes.

The requests come on word that the Bank of Montreal is now charging a one percent premium to accept the bills of the Ontario banks if those bills were issued in Ontario.

The ministers agreed to discuss the matter with the full cabinet.

CANADIAN LUMBER TRADE

While there has been no further news on the rumoured export duty on Québec lumber, the Quebec Gazette reports that no fewer than 50,000 men are employed in the lumber industry in this country.

15,000 in the forest, 10,000 in the manufacture, 17,000 seamen on 1,200 vessels, carrying 700,000 tons to Europe, and another 8,000 on inland waters.