Power to issue notes in denomination of 4or more not

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Power to issue notes in denomination of $4or more, not to exceed paid capital & secured by gold or dominion notes o Double liability on shareholders to be paid before realizing on assets of a failed bank o Total liabilities not to exceed 3 times capital o Mandatory decennial revision by parliament o One vote per share o Prohibit against extending credit on real property o Maintain 6 percent interest ceiling
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Week 3 Canada first great manufacturing enterprise: the story of Massey-Harris. Massey’s Entrepreneurial roots: - Daniel family moved from New York to Cobourg and s tarted out as farmer Daniel jr spots Opportunity: - Daniel jr left the family farm, rented nearby land, hired laborers and cleared it, and sold these trees at a profit to buy the land and farmed until he found a buyer (made good fortune by doing so) - Created readymade farms for new immigrant farmers - (Market for trees and demand for farm land was declining, after 12years of business and owing 1200 acres of cleared land, Daniel became fulltime farmer) - Had an interest in labor saving tools was beginning to generate implements that could bring change to world that relied on farming tools - (Daniel learned of American thresher machine: used to separate grain from husks to help with wheat harvest) later decided to import it to upper Canada - Daniel fabricated field implements for tilling the soil, seeding it and harvesting crops and he was perfecting his skills as a machinist, fixing equipment and outfitting his neighbors with tools he made or imported. The launch of the Newcastle Foundry and Machine Manufactory Company - (Crop failure, economic hardship-great depression in 1837, 1840 and the famine in Europe-Ireland led to waves of immigrants to the New world in the 1840s seeking relief and better life.) - British established the Corn Laws, tariffs on wheat to protect the British growers and member s of the British Empire over foreign countries such as US and Germany. Canadian wheat producers benefited from such protection until 1831. - 1846 when Britain was hit by extensive crop failures, the Corn Law were repealed, which brought competition to Canadian grower. - Poor harvest and competition caused Daniel Jr to abandoning the farm and buying a nearby foundry in 1847 that had gone bankrupt. - New protective tariff on imported farm machinery benefited Daniel. - Bought manufacturing licenses for equipment designed in U.S - Made improvements to American designed machinery so it would suit Canadian conditions and to achieve better efficiencies in production.
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A New Generation - After purchased additional foundry and expanding the company to keep up with the growing demand Daniel Jr. called his son Hart to helped look after the business - Hart abandoned farming business and changed the company name to H.A.
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