Volume 2 - ElectricCanadian.com

DEVELOPMENT OF CANADIAN BANKING 449the security. As a result of the increasing variety of theindustries of Canada and of the products enteringtrade ajid commerce, the listinto itsof persons from whom securitycould be taken in the manner prescribed by the Act, and thelist of goods, wares and merchandise which were availablefor such security, tended constantly to increase, and ledto corresponding amendment of the law. Thus the list inthe Act of 1871 was extended to include a "curer or packerof pork or dealer in wool," and in the case of the curing orpacking of pork it was enacted that a receipt for hogs shouldapply to the pork made from such hogs. In the following year,by 35 Viet., 1872, c. viii, the provisions of the sections underconsideration were again extended to "cereal grains in processof being converted into malt or flour, and to malt and maltsters,and also to hogs when converted into bacon and hams."The schedule to the Act contained the names of nineteenbanks and included all those in the provinces of Ontario andQuebec then making returns to the Government, except theBank of British North America and La Banque du Peuple,for both of which special provision was made by certainsections of the Act. In Nova Scotia the Merchants Bankof Halifax, the Bank of Nova Scotia, and the Bank ofYarmouth were included, but not the People's Bank of Halifaxor the Union Bank of Halifax. None of the New Brunswickbanks, the Bank of New Brunswick, the St.and the People's Bank of New Brunswick, were included.The general Bank Act of 1880 1continued the charters ofthe banks for another ten years, but did not make manyStephen's Bank,important changes in the banking system. Sir LeonardTilley 2 was the Finance Minister of the day, and at a conference*4S Viet., 1880, c. xxii.'Sir Samuel Ixjonard Tilley (1818-96) was a native of Gagetown, N.B. Afterof New Brunswick. He was aentering public life, he became Provincial Secretarydelegate to both the Charlottetown and Quebec conferences on the subject of theconfederation of the Dominion of Canada.He was Minister of Customs of the Dominion1867-73, Minister of Finance in 1873 and again in 1878-85, and Lieutenant-Governor of New Brunswick 1873-78 and again 1885-93.