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Excerpt from Report of the Toronto Board of Trade: Received and Adopted at the Annual Meeting, February 27, 1856, and Report on the Toronto Georgian Bay Canal Operations of unrestricted trade in money, would operate injuriously on the mercantile community, who are, to some extent, dependent for their financial facilities upon the banks, the law might be modified so as to meet this objection by limiting the rate chargeable by banks to the same rate of interest as obtains in the State of New York, namely seven per cent, while the trade between private parties should be entirely unrestricted. Your council is of Opinion that a well-considered bankrupt law should be enacted, both for the protection of the creditor and debtor; with regard to the first, because when a man commits an act of bankruptcy, the honest creditor should be protected from the undue preferences which are so frequent in the absence of any legislative control of such cases and with regard to the latter, because it seems peculiarly unjust that a man who through the vicissitudes of trade, over which, in many cases, he may have no control, becomes deprived of the means of liquidating the liabilities of such trade, should also be debarred from the possibility of ever bettering his condition, should any of his creditors refuse to grant him a discharge. The law, however, should be very carefully enacted, and every precaution taken to prevent its fraudulent or tyrannical application. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Includes standards, accidents, etc., of railway grade crossings.