HC Deb 09 April 1867 vol 186 c1338

In reply to Mr. WHATMAN,


said, that the security for the proper expenditure of the Canada loan was twofold. One clause prevented the Treasury from giving a guarantee until they were satisfied that local Acts provided for the raising, expending, and appropriating the loan. Another clause provided that, in the event of any waste or excess in the expenditure of the loan, such waste or excess must be met by the Canadian revenue before any part thereof was applied to any other purpose.