copyright an excise duty which could be collected by means of stamps as easily as other duties of a similar kind The undersigned have no doubt that such a scheme as that which they have suggested could be carried into practical effect with great advantage to the English authors, who, as a rule, would sell their copyrights for Canada to Canadian publishers. It is true that British publishers would not gain that colonial circulation which they have long tried to obtain without success; but it is vain to expect that the expensive editions published in England can meet a sale in any part of the American continent." Since these communications have passed between the two Governments, others, no doubt have, followed, and I hope that there will be no objection to showing the position of these further negotiations with as little delay as possible. Although it may appear to some that the subject has been followed up, perhaps too persistently, yet, I believe, nothing but persistence and energy in urging this matter on the Im perial Government will bring it to a successful issue. Since I gave notice of my motion I have thought that it would be perhaps advisable to make an addition to show British authors how little benefit they receive from the present mode of collecting duty on American reprints of their works coming into Canada. I would therefore propose to add to the words of my motion as printed: "Also a return showing the amount of duty collected upon copies of British copyright works im ported into the Dominion from the United States during the fiscal year 1870-71, as well as the amount of such duties as have been paid to the author or authors of such works." It now just comes to my recol. lection that a voluminous correspondence on the subject of copyright appeared in the London Times, not many months ago, and amongst many authors, who then made known their complaints, the Archbishop of Dublin wrote a letter in which he complained of the very small return received from Canada, and rather reflected upon the management of our Customs, in collecting the duty for the benefit of British authors. I think he said that although one of his works was widely circulated in Canada, yet all he received was some. thing like six shillings and eight pence, or some such trivial sum. There is no doubt whatever that large numbers of such works are smuggled into this country from the United States. but in addi tion to this many pass the Custom House, because of the absence of timely returns from the proper authorities in England. I have no doubt, knowing as 1 do some

thing of the slowness with which public departments move, that returns of copy right works only come out some time after they have appeared in England, and have been copied in the United States, and consequently are not in the possession of our Customs officers, as soon as the American reprints are sent in. The officer looks at his lists, and not seeing the work mentioned in them, allows the books to pass free. Under such circumstances it will be easy to explain why such a small amount is collected on American reprints for the benefit of authors. As a forcible illustration of the position in which our publishers are now placed, I may mention that a well known gentleman in Montreal-I refer to the compiler and publisher of the Dominion Directory-who has labored long and earnestly in this matter, has been forced to establish a printing office at Rouses' Point, across the frontier, in order that he may be in a position to compete with American publishers. I do not attempt to justify or offer an opinion on this proceeding; I give it simply as an example of the effect of the present system upon our printing industry. We should certainly endeavour to encourage Canadian publishers and keep them in the country, instead of forcing them across the border. In my motion, I refer to correspondence with "person or persons," as well as with the Government for I understand that a cor. respondence has been going on with influential individuals on this question, and a letter has been written by à distinguished gentleman, Sir Charles Trevelyan, approving of the action and demands of the Canadian Government on the subject. I believe such correspondence should encourage our Government to prosecute this object with vigor, and use every effort to obtain the very desirable boon we have so long been asking.

Hon. Mr. CAMPBELL replied: I may say at once, I believe there is no official correspondence after that to which my hon. friend has referred-the report of two members of the Government on the subject, which was sent to England. There has been, however, some unofficial correspondence, and the hon. gentleman is right in mentioning the name of Sir Charles Trevelyan, but I do not know if it can be brought down. I would suggest to my hon. friend that he also add to his motion a request for a return which will show the dates at which the copyright lists come out to this country; and then the whole case will be laid before the public. My hon. friend deserves to succeed-he has persevered, session after session, since

vince) held on the 31st day of December, 1871, the sn of $6,526,072 in gold as against a circulation of $22,919,342, being in the proportion of 28 per cent of the said circulation. And whereas the result of the recent financial measures introduced by the Government has been to a great extent to replace a paper currency directly based upon gold

by a naper currency based upon another paper currency.

Resolved, That this House views with alarm the proposition of the Government to still further diminish the comparatively small reserve of bul'lion now remaining in this country. That the power proposed to be conferred by the measures now before the House will practically enable the Ministry of the day to effectloans to a large amount with any Bank or Banks that they may see fit, and that it is not expedient to entrust any Government with such power without special consent of Parliament in each case. And lastly that the general result of the modifications pro

posed to be introduced into the present law will be to interweave the interests of the various Banking institutions of the Dominion with the Government still more closely than at present. Whereas it is extremely desirable that the national finances should be kept, as far as possible independent of and unaffected by the fluctuations to which the trade and commerce of every country are constantly exposed.

He claimed the indulgence of the House for trespassing upon their time with so dry a subject. He called attention to the preamble of the amendment, and stated that he had always contended that the Government were dangerously diminishing the bullion held in this country. He had no doubt that the Finance Minister would give the usual answer, that, in the first instance, the banks hold a very large amount of legal tenders in the shape of Government notes, which are as good as gold; and in the second place have large bank balances available for the protection of their circulation. With respect to the legal tenders under the present law, the banks were bound to hold one-half of their cash reserves in legal tender notes, and although it was thought they could use them very much as gold, anybody who had paid any attention to the matter was aware that it was very questionable whether the Banks were at liberty to use these tenders in the same way as their gold reserves, especially while Government held large sums on deposit; not to speak of other modes of deterring the Banks from demanding gold for legal tenders if inconve. nient to the Ministry. As regarded the Bank balances although large, it should be remembered that the Returns of those balances included in some cases money that was not in the country. The balance in the case of the Bank of Montreal of some 9 or 10 millions was the most actively emrloyed capital they had and could not be considered as always available. The circulation of the Government notes consist. ed principally of those of small denominations under four dollars, but the circulation of the Banks being in large notes they would, in times of sudden contrac

tion, be more liable to return on their hands than the small notes. With reference to the first proposition in his amendment he might appeal to English practice to show the importance of retaining large reserves of bullion in the country, but under the circumstances he would merely call attention to the manifest fact that he had stated in his preamble. As to his second proposition he did not think it expedient to give to any Ministry power to effect large loans with individual banks. Such power had been useful, but he consided it a dangerous precedent and one always liable to abuse. The third proposition went deeper into the principles at issue. He had no doubt it might appear that the interests of the Banking Corporation should be interwoven with those of the Government, but he looked upon it in a different light. He looked upon the Government as being the custodian of the public credit, who should enforce the regulations which the House saw fit to adopt with regard to those corporations. If the Hon. Minister of Finance had spent here the fifteen years which he had devoted to the service of Her Majesty abroad he would know that the fears he expressed were neither ill grounded nor visionary that, judging the future by the past, and bearing in mind the periodical fits of depression and prosperity which succeed each other in all commercial communi. ties, we ought in all cases to provide for the recurrence of periods like that between 1858 and 1866. We were now in a state of great prosperity such as had not been known for a period of twenty years, and it was only necessary to refer to the public accounts to see that the revenue had increased at least fifty per cent. in about two years. Not to speak of the additional proof afforded by comparison of the trade returns,-the assets in the lands of the Banks, &c. But this state of things might not last, a reaction would come, and he hoped the results would not be as disastrous as they had been before. If disaster should come upon us, he believed that the policy now being adopted by the Government would make that disaster worse. But he knew that the Banking Institutions were with the Government in the matter, and that it would be hopeless to oppose them. The House knew that in the nature of things a reaction would take place and times of adversity would come. Then powerful pressure would be brought on the Government to induce them to issue additional currency, and to suspend specie payments. This had been done by States possessing greater resources than we did. He believed.

amend the said Act; also a Bill to amend the Act relating to Dominion Notes; also, a Bill respecting the public debt and the raising of loans authorized by Parliament. Hon. Sir F. HINCKS moved the House into Committee of Supply, Mr. STREET in the chair.

The House rose and reported.

Hon. Sir JOHN A. MACDONALD moved the second reading of a Bill respecting the Larceny of Stamps. He explained that the object of the Bill was to make stamps, whether issued by the Dominion or Provinces, a valuable security, and any person stealing them liable to be tried for stealing the amount expressed on the face of the stamp.

In

Mr. R. A. HARRISON-Would seriously suggest to the consideration of the Government the propriety of abandoning the stamp tax, and if necessary raising the amount thereof by some other means. many parts of the Dominion the law is not understood, and where it is the stamps are frequently not to be had, and when they are to be procured they are of such a character that they will not adhere to the paper, resulting in embarrassment in business, and he thought the law opened the way to fraud as many stamps were used more than once.

Hon. J. H. CAMERON suggested the use of stamped paper, as in England, which would prevent the possibility of stamps being used more than once.

Mr. WORKMAN concurred with the hon. gentleman who had just spoken, as to the inferior quality of stamps supplied.

of

Mr. SAVARY thought there could not be a more inconvenient way raising revenue in Canada than by a stamp duty. It bears very hard in the rural districts where a man has to travel several miles to get a stamp or his note is worthless. He had known one case in which a person had been supplied with postage stamps for bill stamps. He suggested that the Act should be amended or abolished altogether.

Mr. FERGUSON could not support the Bill as he regarded Stamp Duty as being a troublesome and vexatious mode of collecting the revenue.

Mr. STREET said the suggestion of the member for Peel would be very embarassing in rural sections of the country and he could not therefore concur in it. He agreed with the member for Toronto that if the Government could dispense with the tax it would be very advantageous to the country, and he hoped Government would give the matter their best consideration.

Mr. ANGLIN said that nothing could be more desired by the Lower Provinces than the total abolition of the bill.

Hon. Sir JOHN MACDONALD said he did not propose to enter into a discussion of the Stamp duty, as it was irrelevant to the matter in hand. The immediate cause of the introduction of the Bill was an embezzlement of postage stamps, and its object was to make those stamps a valuable security. As to inconvenience aris. ing from the imposition of the stamp tax, there was no species of tax against which some objection could not be raised. He would ask those members connected with rural districts, and who spoke of the inconvenience of the tax, whether they would not prefer to have this part of the revenue raised by way of tax on Bills and Promissory Notes, than on tea and sugar and other necessaries of life (cheers).

Hon. Mr. MACKENZIE thought they could not afford to disregard the mode of taxation practised in Eagland. During the past twenty years they had endeavored to reduce it as much as possible on imports of necessaries, and had transferred it to objects of inland revenue. He was glad to have this principle acknowledged in Canada, and he therefore had not looked unfavorably on the imposition of the Stamp Tax.

Mr. MASSON (Soulanges) said the tax was no doubt objectionable in rural counties, and he would propose that all bachelors throughout the country should be taxed (laughter).

Hon. Mr. MORRIS said the matter of the stamp duty was receiving the consid eration of the department.

The Bill then passed its second reading and passed through Committee.

INJURY TO PROPERTY.

Hon. Sir JOHN A. MACDONALD moved the second reading of "An Act to correct a clerical error in the Act respecting malicious injuries to property." Carried. INSOLVENCY LAWS.

Mr. COLBY moved the second reading of "An Act to repeal the Insolvency Laws." He said the Bill proposed the entire abolition of the existing insolvency laws of the Dominion. It was framed in accordance with his personal convictions in the matter, and he believed in accordance with the solid sentiment of the section of the country with which he was most familiar, and also of the House and of the country at large. He was not one who believed that an insolvency law was per se and under all circumstances objectionable, but thought there were occasions