The papers were accordingly presented to Parliament on Wednesday, and
afford a full history of the transaction, which may be briefly summarized thus. After a long correspondence on the annoyance felt in Canada at the terms of the Treaty, the sale of the right of fishing, the opening of the St. Lawrence, and the absence of compensation for the Fenian raids, Lord Lisgar informs Lord Kimberley that if the Treaty is to be accepted by the Dominion, the hands of his Ministers must in some way be strengthened, and suggests a guarantee of £4,000,000 for the Canada and Pacific Railroad. The Secretary for the Colonies replies on 18th March, 1872, that if " Canada would abandon all claims on Great Britain on account of the Fenian raids," and issue a proclamation to carry the Treaty into effect, " Her Majesty's Government would engage, when the Treaty should have taken effect by the issue of such proclamation, that they would propose to Parliament to guarantee a Canadian loan of £2,500,000' for the Pacific Railway. This offer was at once accepted by tele- graph. We have commented on this singular transaction else- where, but may note here that it will probably rouse the most dangerous and acrid debate of this Session.
