This act is an amendment to an act first passed in 1851, which authorized the provincial government to issue more treasury notes in order to help reduce the provincial debt.
This act modifies two positions regarding the collection of duties and management of government revenue; rather than having two officers, one who deals with the collections of duties and another who manages the treasury, these two offices have been united into one office.
This act establishes a board to effectively distribute revenue gathered from trade duties collected on goods brought into the province. It specifies the responsibilities of the board as well as the officers who work for the board, and delineates how money should be collected and spent.
This act defines the tariffs to be charged on various items, specifying those which are to be duty-free due to trade agreements between Great Britain and the United States. The manner in which the tariffs are to be collected is also specified.
This is a continuation of past acts which sets duties to be charged on trade goods being brought into the province in order to generate a revenue for the provincial government.
This act continues prior acts which define duties to be collected on goods being imported into the province in order to generate a revenue for the province.