 In 1912 , Justice Stuart 's ruling was upheld by the Supreme Court of Alberta en banc . Again the Royal Bank appealed , and on January 31 , 1913 , the Judicial Committee of the Privy Council , which was at the time Canada 's highest judicial authority , found for the Royal Bank , ruling that the provincial government did not have the right to confiscate money raised outside of the province . On September 22 Sifton announced new management of the AG & W agreeable to the bondholders , the government , and the banks . The Conservatives protested that other companies were prepared to construct the railroad for less than the sum agreed on with the A & GW , to which Sifton replied that the Privy Council 's ruling meant that the government could not use the money raised to deal with any other company . The Conservatives filibustered the legislation and moved a series of amendments ( including one calling for the scheme to be put to referendum ) , but the Liberals voted unanimously in its favour . The Alberta and Great Waterways saga had reached its end , and Sifton 's caucus was never more united . 
