OUR ISLAND STORY ' , 65

engsland; and I have given my willing assent to a measure which 3 " promises to be attended with widespread benefit to the whole communityx’ ' ' V 3 . 3

On the 11th of September, 1871, a contract was entered into . :3 with Mr. Collingwood Schreiber for the construction of a railroad. 3' The materials were to be of the very best description. The work was to be completed, and in every respect the railway was to be ready for use on or before the 7th September, 1874. In payment, the contractor was to accept the public securities of the Island payable in thirty years from the date thereof, with liberty to the Government to redeem the same at any time after the expiration of ten years, the debentures to bear interest at the rate of six per centum per annum'.

The work of railway construction proceeded, and the money required to pay for the materials and to recompense the workmen was obtained from the Banks—chiefly from the Union Bank of Prince Edward Island—on the security of the Government deben- tures issued in " terms of the contract. In the meantime the confi- dence of the electOrs was transferred to the political party that Was opposed to the conStruction of the railway and also to the ,

proposed Union with Canada. But they, on their accession to - 3

Office and power, were met by a financial condition that required

action "by which to maintain the credit 'of the Union Bank and of ' the Province. 'On the 51st of December, 1872, they entered into 3 , ‘ ,1 33 a contract with Messrs. Schreib‘er & Burpee, partners engaged . ' , l“ in the construction of the main line, to extend the railway to Sour- 6:3 is and, Tignish. Then, in the month of February, 1875, the Lead- ' 3 er of the Government, the Hon. Robert P. Haythorne, and the ’

Hon. David Laird, a prominent member of the Government, - . 33‘ :'

proceeded to Ottawa to negotiate with the Federal Administra— ' ' 3, tion for better terms of Union than those available as a result. . ' 33 of the Quebec conference;- The “better terms” they obtained: were forthwith submitted to the electors of the Island at a gener— al election~—and~rejected. It was maintained by the successful party, led by the Hon. Iames C. Pope, that still better terms of Union should, in justice to the people of this Island, be obtained.