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new Montreal Northern Railway - Canadian $1,000 Uncanceled Railroad Gold Bond

Inv# RB5354   Bond
New Item!
Country: Canada
Years: 1903
Color: Green

$1,000 5% Mortgage Gold Bond. British American Bank Note Co, Ottawa. All 100 coupons present. Unusual. Superb Condition!

Sir Henri Charles Wilfrid Laurier (November 20, 1841 – February 17, 1919) was a Canadian lawyer, statesman, and politician who served as the seventh prime minister of Canada from 1896 to 1911. The first French Canadian prime minister, his 15-year tenure remains the longest unbroken term of office among Canadian prime ministers and his nearly 45 years of service in the House of Commons is a record for the House. Laurier is best known for his compromises between English and French Canada.

Laurier's government introduced and initiated the idea of constructing a second transcontinental railway, the Grand Trunk Pacific Railway. The first transcontinental railway, the Canadian Pacific Railway, had limitations and was not able to meet everyone's needs. In the West, the railway was not able to transport everything produced by farmers and in the East, the railway did not reach into Northern Ontario and Northern Quebec. Laurier was in favour of a transcontinental line built entirely on Canadian land by private enterprise.

Laurier's government also constructed a third railway: the National Transcontinental Railway. It was made to provide Western Canada with direct rail connection to the Atlantic ports and to open up and develop Northern Ontario and Northern Quebec. Laurier believed that competition between the three railways would force one of the three, the Canadian Pacific Railway, to lower freight rates and thus please Western shippers who would contribute to the competition between the railways. Laurier initially reached out to Grand Trunk Railway and Canadian Northern Railway to build the National Transcontinental railway, but after disagreements emerged between the two companies, Laurier's government opted to build part of the railway itself. However, Laurier's government soon struck a deal with the Grand Trunk Pacific Railway Company (subsidiary of the Grand Trunk Railway Company) to build the western section (from Winnipeg to the Pacific Ocean) while the government would build the eastern section (from Winnipeg to Moncton). Once completed, Laurier's government would hand over the railway to the company for operation. Laurier's government gained criticism from the public due to the heavy cost to construct the railway. Read more at https://en.wikipedia.org/wiki/Wilfrid_Laurier

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A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.

Item ordered may not be exact piece shown. All original and authentic.
Price: $165.00