The old Grand Trunk proprietors feel that their early pioneer services to Canada, and their heavy sacrifices, have rather been ignored in competition, than recognized, by the Canadian Pacific not being an extension of the Grand Trunk system. Had I remained in office as President of the Grand Trunk, undoubtedly I should have laboured hard to bring about such a consummation, which undoubtedly would have economised capital and hastened the completion of the great Inter- oceanic work. But the London agents of Canada, who were, and are, responsible for launching the Grand Trunk and for its many issues of capital to British shareholders, have undoubtedly aided the competition and rivalry complained of; for in July, 1885, they floated--when other great financial houses were unable--3,000,000_l_. sterling, not for the Pacific line itself, but to complete other extensions of the Pacific Company's system of a directly competitive character with the Grand Trunk, and which could never have been finished but for this British money, so raised. While I do not enter into the controversy, it still seems to me that blame lies nearer home than in Canada, if blame be deserved at all. Great financiers seem sometimes ready to devour their own industrial children. The Canadian Pacific Railway from Quebec to Port Moody is a mixture of the new and the old. The first section, from Quebec to Montreal, is an old friend, the North Shore Railway, once possessed by the Grand Trunk Company, and sold back to the Canadian Government for purposes of extending the Pacific route to tide-water at Quebec, and making one, throughout, management. From Montreal to Ottawa, and beyond, is another section of older-made line. The piece from Port Arthur to Winnipeg is an older railway, made by the Canadian Government. Again, on the Pacific there is the British Columbia Government Railway. All the rest, round the head of Lake Superior up to Port Arthur, from Winnipeg across the Great Prairies to Calgary, and on to, and across, the Rocky Mountains, the crossings of the Selkirk and other Columbian Ranges, is new Railway--with works daring and wonderful. Pioneer railways are not like works at home. The lines are single, with crossing places every five, ten, or twenty miles; ballast is not always used, the lines on prairies being laid for long stretches on the earth formation; rivers, chasms, canons and cataracts are crossed by timber trestle bridges. The rails, of steel, are flat bottomed, fastened by spikes, 60 lbs. to the yard, except through the mountains, where they are 70 lbs.