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An Act respecting the Consolidated Revenue Fund.
[Assented to 22nd May, 1868.]
Preamble.Her Majesty by and with the advice and consent of the Senate and House of Commons of Canada, declares and enacts as follows :
What moneys shall form part of the said Fund.1. All Duties and Revenue over which the respective Legislatures of the late Province of Canada, Nova Scotia and New Brunswick, before and at the time of the passing of the British North America Act, 1867, had, and over which the Parliament of Canada now has the power of appropriation, shall form and are hereby declared to have formed since the Union, one Consolidated Revenue Fund to be appropriated for the public service of Canada, in the manner and subject to the charges hereinafter mentioned, and in the following order, that is to say :
First. Collection, &c. Firstly. — The costs, charges and expenses incident to collection, management and receipt thereof, subject to be reviewed and audited in such manner as is now or may hereafter be by law provided ;
Second. Public debt. Secondly. — The annual interest of the Public Debts of the several Provinces of Canada, Nova Scotia and New Brunswick, at the Union ;
Third. Thirdly. — The Salary of the Governor General ;
Fourth. Intercolonial Railway. Fourthly. — The Principal and Interest at a rate not exceeding four per cent. per annum of the Loan of three million pounds sterling, to be raised for the purpose of constructing the Intercolonial Railway, under the provisions of an Act of the present Session of the Parliament of Canada, Chapter thirteen, upon the guarantee of the payment of Interest on such loan at a rate not exceeding four per centum per annum by the Commissioners of Her Majesty's Treasury, or the principal and interest at a like rate of such part of the said loan as may be raised ;
Fifth. Sinking Fund. Fifthly. — An annual sum at the rate of one per centum per annum, as a Sinking Fund on the entire amount of principal money of the loan herein last before mentioned ;
Sixth. Advance for same. Sixthly. — Any sum which shall be issued out of the Consolidated Fund of the United Kingdom under the Canada Railway Loan Act, 1867, with the interest thereon at the rate of five per centum per annum ;Seventhly.
