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HALL Treasurer of the Province of Quebec, On the Financial Affairs of the Province and Criticism of the Mbrcier Administration. In making the remarks that I am going to make this evening with re- ference to the financial aflfairs of the Province of Qunbec during the Mercier administration, and in offering my criticisms, which may seem to some harsh, but which I consider justifiable, there are four points to be well borne in mind : — 1st. The financial year runs from the Ist of July to the 80th June, and when I will hereafter speak of the years, it will be intended as referring to the year ending the 30th June. 2nd. In dealing with the figures, I will take the Public Accounts of the Province of Quebec as they have been printed under my predecessor, Hon. Mr. Shehyn. I do not for a moment admit that the classification of the expenses into ordinary, extraordinary or special, as the case may be are correct, or that in many cases the entries properly represent what the transactions are. In reading over speeches and discussions on our provincial finances, the wrangling has taken place as to whether items were chargeable as or- dinary or extraordinary expenses or chargeable to capital. I would not at- tempt to settle the distinction with you to-night. Mr. Shehyn introduced a new classification which he calls " Special" expenditure. This I do not think any one can accept, and it will be seen from the figures I will give you this evening that he puts *' Repairs to Court Houses," "Iron Bridges," "Night Schools," " Books " and "Settle- ment of Claims," etc., all in this category of " Special Expenditures." It seems to me elementary that such expenses as these must come under ordi- nary expenditure. They are all recurrent or part of the policy of the Government. However, we may as well, for the moment, close the discussion on the subject by the people consoling themselves with the fact that, whether it is ordinary, extraordinary, special or other expenditure, it has to be paid for out of revenue or earning power, and if you make loans for such purpose^ !^P •2 repayment has to be made out of the earning power. It will be seen also that this so-called " Special Expenditure" has become a convenient heading to put payments under, to hide deficits in expenses, and that it has grown in amount annually and steadily. 3rd. The Public Accounts merely show a record of receipts and pay ments independent of whatever source they may be taken from, or paid out of, and, HO much so, that temporary loans or trust funds, or deposits as guarantees from Railway Companies, are put down in the public accounts as a cash receipt, and merged into the ordinary cash, and when payments are made, such as payments of administration, the money may be taken out of the Loans, Trust Funds or Eailway Deposits without it appearing in the general statement made by the Treasurer. 4th. The Hon. Mr. Mercier came into pov« e.* on the iVth January 188*7, in the middle of a financial year, and Hon. Mr. Shehyn, my predecessor, repudiates any responsibility with reference tc the financial position or results or pajrments of the year IBS'?. It will be my endeavour this evening to divide my remarks up in as clear and concise a manner as possible under the following heads : — 1st. The history and result of Mr. Shehyn's operations with the jsash received and disbursed during the four years 1888, 1889, 1890 and 1891 and up to the I'rth December 1891, for which he was responsible. 2. The present position of the Province as regards assets and liabilities- 3. The administration under Hon. Mr. Mercier's regime. Before coming to these heads I may say, it may be that, in the course of my remarks, my language may seem to be a little strong, but I stand here to-night in the position of Provincial Treasurer, after having a com- paratively short opportunity to investigate the affairs of the province. As a result I consider that the late administration was one of extravagance, carried into recklessness, and by reason of the extent of the latter, absolutely amounting to be corrupt. I make these statements with a sole feeling of the duty iiinposed on me, and with a good deal of regret, because with the members of the late administration I was on the best of terms and received from them the utmost courtesy and consideration in any matters I had to do with them, either in respect to the affairs of my constituents or those of the city or province at large. Now for the facts. J do not propose to give you any figures that cannot be substantiated but I do feel that, while I have taken a certain amount of responsibility and am willing to assume it, yet, with the knowledge I have, I must and can relieve myself of a portion of that responsibility, by making the state oti affairs known to you, and it will be for yott, the people of the city of Mont- miii real and this Province of Quebec to accept the consequences by your votes on the 8th March next, and decide whether the administration of the affairs of the provincs are to be continued by the party who have so mal- adurinistered them during the past four and a half years. I. THE HISTORY AND RESULT OP MR. SHEHYN'S CASH OPEBATIONG. I ask your patience to follow me closely in order that you may realize how dexterous my predecessor was, and with what subtlety and ability he hid from the public and the members of the Legislature what our true position was. On the 12th April, 1887, the Hon. Mr. Shehyn made his first Budget speech in the Legislative Assembly. I listened to it with interest, He commenced at the outset by assuring the House and the country he was going to deal with the finances " as a business man." He was held out to the country as such and we will soon see how far he has earned that reputation. At the time, his speech gave, though at some length, a careful expose of the finances of the province, and of our assets and liabilities. He was quite oevere on his predecessors, Hon. J. G-. Robertson and prior adminis- tration, and used the strongest of language, making accusations, if not direct statements, of recklesti, dishonest and wilful extravagance. In that speech, Hon. Mi. Shehyn was full of promise and predictio'ds of careful administration and honest and economical G-overnment. I rather admired the speech, but, after he has had four years of trial, I find not only has every promise been violated but we have as a result, reckless and corrupt administration, our liabilities enormously increased, the bur- den of taxation raised, and yet our revenue totally inadequate to meet the present expenses. The best proof of this is of itself evident when we consider that in the scarce five years of rule, Mr. Shehyn has made one permanent loan of 13,600,000, and a year ago obtained authority for a further loan of $10,000,- 000, of which $4,000,000 has been obtained and spent. The net debt of thr.s TVovince has been increased from $11,389,16'7.11 on the 17th January, 188/, to the sum of $24,428,683.62 on the l7th Decem- ber, 1891. The annual ordinary expenses, according to Mr. Shehyn's own classification, have been increased from $3,032,771.45 (Public Accounts, 1886, p. 11) in 1886, to $4,095,520.45 in 1891, and the special expenditure, exclusive of railway subsidies, has run up from $177,000.00 in 1886, to $820,610.14 in 1891. Mr. Bobertson did not call this expenditure in 1886 "Special," I^BB! ^^ but in his speech he attributed this expenditure, which was for the Par* liament Buildings and Quebec Court House, to " Capital." All other expenses, excepting Railways, Repayment of Loans and Trust Funds, were charged to ordinary expenditure. Mr. Shehyn in his speech declined to take any responsibility respecting the financial operations of 1886-87. He wanted to start with a clean slate, and in doing so he charged every expense and liability, possible and con- ceivable against his predecessors. Owing to the extravagance, as he said, of his predecessors, the Boss-^ Taillon administration, the floating debt was large and he could not assume it, and he asked the House for a loan of $3,500,000. If he got this he undertook anyway to satisfy all the obligations and deficits of the past, weather us through the perilous and orphan year of I i 1887 to which Mr. Shehyn would only be a step-mother, and for the financial year 1887-1888, for which he would be responsible, he would j have a surplus of $19,693.20 (page 64 of his speech). He added, however, I j as the increase of from $2 to $5 had been made on the ground rents for ' ' timber limits on 7th April (five days before his speech), he should get a further revenue of $138,234.00 which would raise his. surplus that year of ji 1888 to $157,927.00. I j The House relied on his statements and figures and gave him what he wanted. Let us now examine each year, what cash he received, and how he spent it. It will be quite noticeable that Mr. Sheyhn was taking the cash received from trust funds, from temporary loans, and from guarantee deposits from railways, and employing these in the general cash. This had, as will be seen, but one result, that in a short time he had to have recourse to a loan to pay these back. He was often attacked in the House for doing this, but his replies were so skilfully evasive as to delude most of the members of the Legisla- ture, and his reputation as a business man led the people to have a false assurance in his statements. 1886-1687. STATEMENT OF EXPENDITURES AND RECEIPTS, 1886-87. Ordinary expenditure $8,289,697 78 do revenue 2,966,446 62 Deficit of ordinary revenue to meet ordinary expenses .$ 324,261 16 t Let Special Expenditure. Parliament Buildings I 184,298 00 198,*>^2 42 18,000 00 736,896 70 8,000 00 100,000 00 Court House, Quebec Court House Extension, Montreal Railway Subsidies Q., M., O. & O. Ry. construction acct... Hon. Thos. McGreevy, suspense acct, . . . Special Receipts. Quebec Fire Loan $ 120 00 Municipal Loan Fund 5,380 00 $1,240,407 12 $ 6,500 00 ^ Excess of Special Expenditure over Special Receipts 1,234,907 12 Total excess of Expenditure over Revenue % 1,559,168 28 Paid from the follow inq sources : Receipts on account of Advances and Trust Funds ....!| 111,204 06 Less payments on account of Advances and Trnst Funds 18,610 76 % 92,693 32 Receipts from Temporary Loans % 600,000 00 Re-payments of Temporary Loans 260,000 00 350,000 00 Cash on hand, 30th June, 1886. .$1,034,703 49 Less outstanding warrants at that date, paid during the year 1'7,240 14 967,468 36 1,400,166 67 Leaving an amount to be paid for which there were no funds on hand, amounting to $ 159,001 61 Represented by : Outstanding warrants at 30th June, 1887...$ 240,763 27 Less cash on hand do ... 81,761 66 ^ ^ ~$ 159,001 61 -rr And at same date the Treasury was indebted for — Temporary Loans $1,100,000 00 Tmst Deposits 229,106 25 I 1,829,105 25 t'^ I If i - The funded debt of the Province at this date was $18,864,858 84 As there appears to be a large amount of cash on hand on 80th June» 1886, it is only fair to explain this as follows : — Cash on hand at 30th June, 1886, was I 1,084,703 4^ Less required to pay outstanding warrants at that date 77,240 14 % 967,468 85 Of the $957,468 85 cash on hand 30th June, 1886, $622,464 00 was paid for railway subsidies before the 31st January, 1887, and $100,000 00 remained on Special Deposit in the Jacques Oartier Bank in connection with the claim against the Hon. Thomtus McGreevy. This left of the cash on hand at 30th June, 1886, $234,999 35 which was used for general purposes. Mr. Shehyn then starts the year 1888 owing $1,488,106.86 for tempo- rary loans and for monies received for trust deposits and for balance due on warrants outstanding in excess of cash on hand 80th June, 1887, but used up in the operations for the past year. Mr. Shehyn is entirely responsible for this year, and it is interesting to note the gTOwth of the items under the head of " Special Expenditure,"" taken, as I consider in many cases, from ordinary expenditure simply to try and show a surplus in ordinary expenditure and receipts. SYNOPSIS OF EXPENDITURE AND RECEIPTS. 1887-88. Ordinary Expenditure, after deducting $55,844.98 of Crown Lands expenditure, transferred to Special Expenditure Ordinary Revenue, including $721,213.95 being composed of $100,000 from the Pro- vince of Ontario ; $558,898, arrears direct taxes, and $62,820.95 from City pi Mon- treal for arrears (part of $125,000 received, the balance included in Special Receipts). 3,365,032 36 8,788,228 89 Surplus of ordinary revenue over ordinary expenses $ 378,196 0» ■Ts— r? Spboial Expenditure— Parliament Buildings , Court House, Quebec Court House extension, Montreal McGill Normal School Arthabaska Court House and G-aol Heating Apparatuses, Court Houses and G-aols Court House and Registry office, Eamou* raska Iron Bridges Codification of the Laws Explorations in Dorchester, etc Crown Lands Department. — Expenditure to meet old engagements transferred . from Ordinary Expenses Railway Subsidies Q. M. O. & O. Ry. construction acct Special Receipts — Quebec Fire Loan | 540 00 Municipal Loan Fund 4,891 28 Montreal contribution to Hull bridge (part of $126,000) 25,444 00 Montreal contribution to cost of land between Hochelaga and Dalhousie Square (part of $125,000) S6,1Z5 05 Q. M. 0. & 0. Ry., refunds, etc. 316 13 260,000 00 210,000 00 21,422 83 2,500 00 « 000 00 6,000 00 6,000 00 26,000 00 46,000 00 10,000 00 55,844 98 648,275 80 14,000 00 1,800,048 06 $ 6*7,926 41 Excess of Special Expenditure over Special Receipts $ 1,232,116 65 Total excess of expenditure over revenue duringj[year $ 858,920 62 Add excess of outstanding warrants at 30th June, 1887, over Cash on hand at that date, viz. : — Cash on hand at 80th June, 1887 $ 81,751 66 Outstanding warrants at that date 240,753 27 159,001 61 $1,017,922 23 ■x-iii,,. .^ < .s mm :vk II 8 . * Paid FROM THE FOLLOWING SOURCES : — Beceipts on account of Advances and Trust Funds $ 54,688 81 Less payments on account of Advances and TrustFunds 61,667 88 I 2,920 98 Seceipts from Temporary- Loans $ 400,000 00 Receipts proceeds ^ of Loan 1888 3,3'78,332 50 $3,788,332 60 Re-payments of temporary loans 1,600,000 00 2,278,332 60 I 2,281,253 48 Balance of grose receipts over gross payments $ 1,263,331 26 During this year Mr. Shehyn effected t^e loan of $8,600,000.00, and at the end of the year this balance w?« represented by : — Cash on hand at 30th June, 1888 $ 1,728,860 07 JLess required to pay ou*"tan4mg warrants 460,518 82 $ 1,263,381 25 Being the amount remaining of the $3,378,332.60, proceeds of the loan of i888 and other receipts, the temporary loans of $1,100,000.00 unpaid on 30th June, 1887, having been paid out of proceeds of said loan. The Treasury Department was indebted for Trust Deposits at same date in the sum of 229,026 28 The funded debt of the Province at this date was 22,354,358 84 Mr. Shehyn then, to start the year 1888-1889, had, through the advan- tage of the loan, $1,263,331.25 cash on hand, including $229,026.28 of Trust deposits, though, as we will see later, a considerabie amount of the obligations for which the loan of $3,600,000.00 was contracted, still remained owing. (fet. mmM ■MlM 9 In his speech on the 15th February, 1889, (page 1) Hon Mr, Shehyn kid, " "We have to acknowledge, for 1888, a surplus of $373,000 in the ^idinary receipts over the ordinary expenditure." I think 1 will show that his surplus of $15'7,927 promised in his April [peech of 1887 was gone, and the $373,000 is a myth. He received the >lIowing sums which he never anticipated or never calculated upon, and, fact, they are not even hinted at in his speech of 1887 : — From Ontario School Fund $100,000 00 Arrears Commercial Corporation Tax 658,393 00 City of Montreal, settlement 62,820 95 $721,213 95 Deduct supposed surplus $373,090 00 Actual deficit $348,213 95 )t including $135,000, at least, charged to sp^^oial expenditure, which was illy ordinary expenditure. Mr. L. G. Desjardins criticized very fiercely and properly the prognos- mtions and administration of Mr. Shehyn, and cited thv^ above figures. [r. Robertson and myself followed Mr. Desjardins, and })y dint of ham- lering compelled Mr. Shehyn to reply and state the facts. He did so, and his subsequent speech delivered on the 8th March, 1889, at page 21, re- Brring to the year 1888, Mr. Shehyn said he admitted this, and said, according to my estimates I counted upon a total of $3,020,522.80 of ordinary receipts, not including $40,000 received from the common school 'fund over and above the $60,000 upon which I counted, when I made my estimates, nor the $557,665 and the $100,000 of increase in other services which I had not included in the same forecast." He alluded of course to le forecasts in his speech of 1887. CITY OF MONTREAL SETTLEMENT. On 8th August, 1887, the Government had a claim ^against the city unsettled accounts of previous years amounting to $2 15,637.46 for main- snance of insane, and of prisoners, for gaol guards, subscription to Hull ridge and for cost of lands expropriated for railway from Hoehelaga to )alhou8ie square. It was settled for $125,000 ; of this $63,320.96 was (laced as above mentioned as an " ordinary " receipt, and the balance $2,179.06 as a " special " receipt. Then for the year 1888-89 he estimated, (page 47, speech, 14th June, J88), in ordinary expenses and receipts a surplus of $68,418.06. The fol- ^wing is a synopsis of that year's transactions, taking again Mr. Shehya's classification of expenditure : — I F|,!1 I : 10 Mi 1 ! i i: ■ '. i SYNOPSIS OF EXPENDITURE AND RECEIPTS, 1888-89. Ordinary Expenditure $8,648,618 64 Revenue 3,625,115 20 Surplus of Ordinary Revenue over Ordinary Expenses $ 81,496 66 Special Expenditure. Parliament Buildings Court House, Quebec Court House Extension, Montreal Arthabaska Court House and Gaol Heating Apparatuses Court Houses and Q-aols Court House and Registry Office, Kamou- raska Bonaventure Court House and Q-aol Iron Bridges Codification of the Laws Explorations in Dorchester Compensation for errors in Surveys, Rou- ville Spencerwood, Stables, &c Purchase of Seed Grain Arbitration between Quebec and Ontario... Lockwood's Claim Quebec Railway Bridge Railway Subsidies Q. M. O. & O. Railway Construction Acc't.. Special Receipts. $125,'729 68 42,'733 69 60,000 00 1,400 00 6,000 00 4,000 00 4,000 00 60,000 00 26,324 40 10,000 00 10,600 00 4,000 00 60,000 00 1,6'73 12 10,000 00 l,27t 16 1,049,847 00 26,800 00 $1,474,286 40 Quebec Fire Loan $ 360 00 Municipal Loan Fund 86,588 60 McGill Normal School Refund. . .... 2,464 00 |88,S52 60 Excess of Special Expenditure over Special Receipts 1,386,932 8^] Total excess of Expenditure over Revenue during year 1,804,486 24 _. 18-89. 81,496 561 1,385,932 89 1,304,486 24 $2,284,09*7 87 106,232 15 $2,177,865 12 11 Paid from the Following Sources: 5ipt8 on account of Ad- [vances and Trust Funds... | 64,427 42 dlway Companies' Guaran- tee Deposits 2,229,670 45 3SG payments on account of Advances and Trust Funds. $ 48,317 52 Repayment Railway Guaran- tee Deposits 67,915 23 fash on, hand at 30th June, 1888 : $1,723,850 07 3S outstanding "Warrants, 1888 460,618 82 1,263,331 25 3,441,196 37 [alance of gross receipts over gross payments 2,136,760 13 Represented by : . Dash on hand at 30th June, 1889 $2,210,019 79 388 outstanding Warrants at 1889 73,259 66 saving an available balance of..... 2,136,760.13 This was after having used up the balance of the loan of 1888, and |he Treasury was indebted at the same date for : balance of railway guarantee deposits received during the year 2,171,765.22 ?ru8t Deposits 262,947.48 2,434,702.70 Che funded debt of the Province at this date was $22,364,353.34 Mr^ Shehyn now starts the year 1889-1890, owing in cash $297,942.57; lat is the difference between the cash on hand and the amount of lilway and trust deposits. The loan of $3,500,000.00 has been all spent, id many of the obligations for which it was contracted remaining, as rill be seen, unpaid. See Statement L annexed. In his speech on 2l8t February, 1890, (page 10), Mr. Shehyn congra- dates himself on a surplus of $84,565.56. Here again he would have jf^nm 12 ; !. i. lit' !i "been sadly out of his reckoning, did he not include the sum of $118 og"; proceeds of sales of timber limits, which fell into the cash for the yea 1889. Taking again his own figures and classification, the operations foil 1889-90 were as follows :— ie\ in rai Icei SYNOPSIS OF EXPENDITURE AND RECEIPTS, 1889-90. Ordinary expenditure $3,881,6*72 96 ' revenue 3,636,783 79 Defi Jt of ordinary revenue to meet ordinary expenses $344,889 Ij SPECIAL EXPENDITURE : Parliament Buildings $162,760 00 ' Court House, Quebec 49,037 36 New vaults for Court Houses and Gaols 4,534 47 ■ Kamouraska Court House and Registry , Office 2,612 00 Iron Bridges 76,460 42 '' €odification of the Laws 36,676 00 Explorations in Dorchester . 9,824 60 . Spencerwood, Hot-house, cellar, &c 10,231 00 - > , Quebec Railway Bridge 404 53 Night Schools 19,737 45 Bibliotheque du Code Civile 6,000 00 Dictionnaire Num6rique de Boucherville.... 2,785 00 Heirs late John Langelier 6,000 00 Speaker's portraits 1,600 00 Repairs Brother Arnold's School 999 38 Library late Judge Polette 8,000 00 Heirs late Judge Loranger 2,182 40 New Map, Province of Quebec 10,200 00 Corporation City of St. Johns 8,600 00 Installation Houses of the Legislature 4,640 00 Printing, binding, etc., of the laws to cor- rect omission in 1878 6,600 00 Settlement of the Jesuits' Estates 400,000 00 Railway Subsidies 327,417 97 Q. M. O. & 0. R'y construction account 16,000 00 ♦1,162,001 48 ?A] 18^ Less Not 3Drft r-.-VR 18 of 1118,09'; for the yea perations foi i^PECiAL receipts: tebec Fire Loan $623 28 inicipal Loan Fund 8,200 00 suit Barracks proporty 80,000 00 83,823 28 Icess of Special Expenditure over Special Receipts 1,128,178 20 889-90. tal excess of Expenditure o^ er Revenue during year..,,,.. Id payments on account of Advances and Trust Funds... 14,163 98 ii^payment R'y Q-uarantee De- posits 255,069 24 1,473,06'7 3a $344,889 16 i*8s receipts on account of Advances and "^prust Funds 269,233 22 18,313 48 250,919 19 1,723,987 15 D FROM THE FOLLOWING SOURCE: Cash on hand at 30th June, 1889 2,210,019 79 Less outstanding warrants, do 73,259 66 BAXiANCE OF GROSS RECEIPTS OVER GROSS PAYMENTS i REPRESENTED BY Owh on hand at 30th June, 1890 2,186,760 13 412,772 98 Hiess outstanding warrants, do. $525,344 43 112,571 45 412,772 98 At the end of the year 1889-1890, the situation was getting critical, though carefully concealed by Mr. Shehyn, and these are the facts : Tliiecash available was 412,772.98 FOThing remained of the proceeds of the loan of 1888. Tlal Treasury Department was indebted for Railway Guar- Aiiloe Deposits $1,916,685.98 ISfUfci Deposits 261,861.27 $2,178,047.25 funded debt of the Province at this date was $22,85 l,ouS.S4 [r. Shehyn now starts the year 1890-91 owing, over and above the '!"-' vi I , I I I ,' .It 1 I i;i I i: ■># tl-l^.* u , leash on hand, $l,t65,2t4.27 for trust funds and Railway GuarautoHP^ I deposits, which he has used up, and his loan of $3,600,000.00 is all goneB|}° ' The climax had to come. ^" ' In the meantime, in June, 1890, the local elections took place. Every] [where we heard of the good administration of Mr. Shehyn and the splendiij Ifinancial position of the Province. The era of deficits had gone. Mr. Robertson, Mr. L. G-. Desjardins and myself during the variou^^^ jsessions tried to warn the people and expose the facts. Mr. Shehyn wa still heralded as a "business man," and most people took his word. ThJ majority of the msmbers of the Legislature still believed him, and th [public relied on b'.m. "What was the result ? The new Legislature met in November, 1890, and Mr. Shehyn madJ [his confession in his speech in the House on the 5th December, 1890. h| ! admits his deficit in ordinary working expenses of $344,000.00 odd for thai year, even according to his own classification. As to his special an^vrERK j ordinary expenditure, it was difficult for him to say where he was, everjpng i one was to blame but himself He could not check, he said, the expendif ture or control the service. It was the House was to blame for voting monies, subsidies, &c., yet he never once pointed out in any of his speechei where we were going, or that we were face to face with increased taxatioil^^^'! and increased loans. ,; . ' § ^ His speech is long in trying to extricate himself, but, to make a lon^ story short, after hiding it from the people for years, he has to admit J' floating debt of $6,762,033.86 on 30th June, 1890, (page 25 of his speech| that he has no means of paying off. | Notwithstanding this, after this date in June, reckless expenditawip , goes on, and on the 30th December, 1890, when the Legislature met, a hilE^^ was introduced authorising a further loan to the extent of $10,000,000.0(M^ to provide for the floating debt on 30th June, 1890, consequent oift«^ Mr. Shehyn's administration, and to meet the obligations, the ordinarjf^^ revenue was insufficient for, imposed under the Mercier administration, i""^ The $10,000,000.00 loan was based on the floating debt of the Provinof^^ as on 26th December, 1890, and that floating debt was described in th#^^ act as follows : BS* (54 Vic, Cap. 2.) ^^ Outstanding- warrants $ 112,571 ^flH Temporary deposits 261,361 2^^l Railway guarantee deposits 1,916 685 ^4^1 Railway subsidies granted, but not yet earned 2,898,247 S^^| Debts Q. M. 0. & 0. Ry 122,364 Oi^H Loss Exchange Bank deposit 27,000 0U^| Protestant settlement Jesuits' Estates 62,961 0I^^| Estimated Special Expenditure 1890-91 ^2^1?Lq^B $ 6,3]3,874l8^V Less cash on hand Ist July, 1890 525,344 jj BH I 5,788,030 li^l Sm«»;sf mmmmmmim niKP- ay Guaranto ►0 is all gone] place. Every d the splendii one. g the varioi . Shehyn w is word. Thi him, and th,. 15 )plementary Special Expenditure 1890-91 fcimated Special Expenditure 1891-92 II way subsidies voted in session of Nov. & Dec, 1890. 115,488 71 688,665 00 4,400,320 00 $10,862,353 86 If ever improvident, reckless and extravagant administration existed, ng into consideration his previous declarations, the above figures and ments show it. . ' I have digressed a little as a matter of history and date to show what place after the 30th June, 1890. ie90-91. Turning again to the cash operations and taking the year'1890-91, the wing is the result. It will be amusing to see now the growth of items r the head of " Special Expenditure," and the absurdity of not includ- the majority of them in ordinary expenditure : — Shehyn mad 3er, 1890. H »0 odd for tha s special am he was, ever , the expendil me for votin^j SYNOPSIS OF EXPENDITURE & RECEIPTS, 1890-91. ■\f hi ft SD66Pn(^v •eased taxatioi^<^i^*^y expenditure $4,095,620 45 aHlo revenue 3,457,144 32 make a lonf^'^ as to admit I I^fi^'i* of ordinary revenue to meet ordinary expenses $638,376 13 )f his speechf^ \ SPECIAL EXPENDITURE. s expenditarl p^ii^ment Buildings ire met, a bil,^^^^^ ^ q^^^^^ $10,000,OOO.Of )nsequeut oi| the ordinaryl nistration. ' the Provinc cribed in iM 5 112,571 1.' 261,361 2^ 1,916 685 %' 2,898,247 8^- 122,364 Oi 27,000 Od 62,961 912,183 I 6,818,874 525,344 jg | \ 6,788,030 lij l^ontreal Court House extension 3few vaults for Court Houses and G-aols Heating apparatuses, Court Houses and 0aols Slfeerbrooke Court House and Gaol pe, do do bee Gaol ville Court House and Gaol Gaol, Montreal Bridges ncerwood, hot-house and cellar bee Railway Bridge hi Schools ing country roads 13,495 34 169,007 00 150,000 00 7,000 00 8,000 00 3,000 00 2,286 00 3,890 00 8,000 00 27,263 44 100,000 00 1,000 00 1,750 00 40,000 00 6,315 23 16 Colonization roads, explorations, &c MeGill Normal School, Montreal Exhibition Society, to repair buildings, Montreal Exhibition Grounds, Montreal...'. Toronto University, in aid of reconstruction For damages by wind storm in Beauharnois, Vaudreuil and Huntingdon Revised Statutes towards supplementary volume Arts and Manufactures Building, Quebec... Jacques Cartier Normal School, Montreal... General Index, Journals of Leg. Assembly Memoir Chevalier de Levis Expenses, illness and funeral Mgr. Labelle Commission re culture of beet-root, on acc't. Railway subsidies Q. M. O. and 0. Ry. construction account Special Expenditure (there being no Special Receipts) Total excess of expenditure over revenue during year Paid from the following sources : Receipts on account of Ad- vances and Trust Funds.. Railway Company guaran- tee deposit Less payments on account of advances and trust funds Repayment Railway Guar- antee deposits Receipts from Temporary Loans Cash on hand at 30th June, 1890 Less outstanding warrants at 80th June, 1890 Balance of Gross Receipts over Gross Payments $ 15,149 02 278,520 00 6*7,nt 42 222,037 41 525,344 48 112,571 46 60,000 00 60,806 00 25,000 00* 28,721 90* 10,000 00 9,880 00 6,009 84 6,532 00 80,000 00' 6,000 00 3,150 00- 2,942 30 6.206 00 885,255 0() 70,364 2T »•■■ 293,669 02 279,274 83 14,394 19 2,223,333 83 ■Ji.- ...:^ ...'i'lfe • 1 ., '>. "tr<" 1,776,874 2,414,250 412,772,98 2,660,600 i . 236,249 n ■■■■ 17 .4 •• .■'■\:i^ '-r*" 1,Y'76,874 2,414,250 ->.■',; 2,650,500 . 236,249 ^pres^nted by: ktth on hand at 80th June, (1891 ^Bs ontstanding warrants It 30th Jane, 1891 471,852 59 235.602 68 286,249 96 iVttilable cash on this date was $ i36,249 96 ^d the Treasury Department was indebted for — Temporary Loans $ 2,223 333 88 Railway Guarantee Deposits 1,973,108 67 Trust Deposits 2dJ? 252 47 $ 4,458,694 87 funded debt of the Province at this date was $22,354,858 84 The year 1891-92 was then started by the Province owing for tem- v|ipEi,ry loaus, trust funds and railway guarantee deposits, the enoi'mous sum K,222,4H.41 over and above the cash on hand received and put into ieral purposes and not a cent to pay this out of except the hopes of the $10,000,000.00 loan and to say nothing of the enormous new obligations new expenditure and new railway subsidies and items of floating debt. 1891 TO 17TIZ DECEHEBBR. I now come to a difficult point in showing* the cash operations up to |;h December, 1891, when the Meroier administration were dismissed, and [giving an estimate of what will be required and what will be the result 30th June, 1892. The books, however, up to 17th December, 1891, show following, bearing in mind that $4,000,000 or thereabouts of the $10,- ),000 loan has been received and exhausted : rOPSIS OF EXPENDITURE AND RECEIPTS FROM THE 1st JULY TO THE 17th DECEMBER, 1891. imary expenditure 2,083,015 47 linary revenue 1,584,988 85 icit of ordinary revenue to meet ordinary jxpenditure :.. 648,077 12: 2 ■ T'fi i' ! ! if m 18 Special Expenditure: Parliament Buildings '7.*788 98 Montreal Goart House extension 42,086 28 Heating apparatuses Court House & Q-aol.... 12,000 00 Bryson Court House abd Gaol 6,821 10 New Gaol, Montreal 144 00 Iron Bridges 22,284 68 Spencerwood, Porter's Lodge 600 00 Night Schools 28,044 36 Stoning Country Roads 81 95' Laval Normal School, new building. 852 40 Edifice Nationale, Montreal 5,000 00 Eamouraska Court House Debentures... 8,105 00 Commission re-Culture of Beet Root 4,909 85 Royal Commission re Baie des Chaleurs Ry 10,000 00 Railway Subsidies 825,866 00 468,9*78 40 Special Receipts. Municipal Loan Fund 8,000 00 Reimbursement Railway Subsidies Fund 8,841' 10 6,84t 10 Excess of Special expenditure over Special Receipts Total excess of expenditure over Revenue to Itth December, 1891 Add Payments on Account of : Advances and Trust Funds 7,388 40 Repayment Ry. guarantee Deposits 112,342 98 119,'726 88 Less receipts on account of Trust Funds 8,874 18 Paid from the following sources: Cash on hand 80th June, 1891 471 352 59 Less outstanding warrants at 30th June, 1891, paid between 1st July and 17th December, 1891 285,602 68 Q 462,126 80 1,010,208 42 116,852 16 1,126,565 bl\ 236,249 96 lOHl 'tf.'j-''^'* ****-^-^***^"**i*>'*#^^ '*^**Li::*^2!?'" ' ■ J. 462,126 80 1,010,203 42 116,852 161 1,126,555 571 1,870,446 68 748,891 ' 748.891 06 19 ceeds of Loan, 1892 8,707,680 00 ipayment of Temporary loan8..2,078,888 88 1,684,196 67 anc«> of gross receipts over gross payments Represented by — h on hand at 17th December, 1891 898,491 27 s outstanding warrants, do 149,600 21 being the amount remaining of the $8,707,580 proceeds of loan for 20,000,000 francs and other receipts ($2,073,000 the Temporary Loans unpaid at the 80th June, 1891, hav- been paid from the same). The Treasury was indebted at the same date for : porary Loans I 160,000 00 way Guarantee Deposits 1,860,766 98 ittst Deposits 265,376 66 $2,276,148 68 » ti^ funded debt of the Province at this date was $26,214,858 84 OjElthe above balance of cash at I7th December $748,891 06 .i^ following sums are only available for the special purpose for ''lich they aie deposited : — »cial Deposits in Banks, part of Railway Guarantee Deposits , 387,663 67 >osits to secure advances by Banks to Railway Companies 04,180 00 3cial Deposits in Banks not payable until after Ist January 76,000 00 626,698 67 Leaving available for immediate expenditure $217,197 39 This has all been expended for ordinary services and railway subsi- which were due and payable, and there is still an amount of ^276,148.68 owing for Railway Guarantee and Trust Deposits and tporary Loans. This, as I have said, is not a complete criterion of what the result may [at the end of the year, but is given to show the result of the cash opera- is up to the date when the Hon. Mr. Shehyn left office. The estimates for the whole ot the year, as revised, I will give as soon have disposed of the loan of about $4,000,000 00. . r.- it. J.. I' r ! 20 THE LOAN OF 14,000,000.00. During this period, as above shown, a portion of the $10,000,000 loaal authorized by 64 Vic, Cap. 2 (December 1890) was floated. The loan wa» for 20,000,000 francs, or $4,000,000, and floated in Paris. 40,000 regulatl bonds of the Province for 600 francs each bearing date 16th July, 1891, and! redeemable in Paris two years from date with half-yearly interest coupomI attached at the rate of four per cent, per annum, have been issued. ThJ bonds were placed on the market at 490 francs each, but a commission ofl 9 francs and 75 centimes, on each bond was paid to the Credit Lyonuais and the Banque de Paris etdes Pays-Bas for floating them This left tothel Province 480 francs 25 centimes per 600 franc bond. The proceeds and expenses have been as follows : — f»R0CEKD8 OF LOAN I 20,000,000 francs at 19,^ c. per franc » 3,860,000 OOJ Sold at Fr. 480.25 per 600 Francs (8-96 per cent, discount].. 162,470 OOl 19,210,000 francs at credit of Province in Paris 16th August, 1891 $8,707,530 00] ^ EXPENSES : Stamps on Bonds $ 6,790 00 Printing and Engraving Bonds 965 00 Insurance and Freight on Bonds 96 60 Loss in Exchange to date 14,016 72 Travelling Expenses 8,802 24 29,670 The Province also pay a commission of one half per cent for the pay-l ments of the coupons and a commission of one quarter per cent for tliel redemption of the principal if the loan is not merged into and made to| form part of the balance of $6,000,000 00. The loan cannot be said to be advantageous, but is onerous for th^ Province. No business man would justify it, nor the expense of issuing regula bonds for a loan of such a short date. As to interest, the Province loses on^ month's advantage of the proceeds from 16th July to 16th August, whe we got the money, and as a matter of &ot, taking in the expenses, we paying ^ per cent. There c»Ji be no question such an amount could have been obtainedj more advantageously from our Banks here for suoh a period of time. To finish the year 1891-92 1 must tell you frankly our position. ,.::;..:.,;..«a. .if» .21 110,000,000 loaJ The loan wail 40,000 regularl July, 1891, and! aterest couponij >n isBUed. ThJ I commission of] red it Lyoniiaii This left to thel e proceeds andl 8,860,000 00; 152,470 00 t8,707,580 00 29,670 t for the pay- ir cent for tibej and made to| leroas for th^ isumg regnla 'ince loses od«| lugnst, whe »eu868, we een obtaine f time. ition. [MARY OP ESTIMATES OF RECEIPTS AND EXPENDITURE OP THE PROVINCE OF QUEBEC FOR THE FISCAL YEAR 1891- 92 AS REVISED FROM OFFICIAL REPORTS OF THE DIB^ FE^ JINT DEPARTMENTS. RECEIPTS. nary Receipts ad estimated by the Hon. Shehyn, Treasurer, in his Badget eech, 5th December, 1890 this is to be deducted the amount ich it is estimated he revenue from own Lands will fall short of the Trea« rer's estimate 18,567,485 70 25,211 57 7,784 19 60,000 00 4,000 00 to it may be added the following sums #hich it is estimated will be received over #id above the Treasurer'b estimate : ftlj^rest on Deposits, etc iuistration of Justice nses t Taxes account of which has been received to 7th December, 1891 ,ving to be received between the 17th Bcember, 1891, and 80th June, 1892 EXPENDITURE. Unary Expenditure as estimated by the I'reasurer in the same l^udget Speech « this is to be added the following amounts estimated as being required in addition for the following services during the year, riz. : — terest on Public Debt , 1154,400 00 terest on Temporary Loans and Deposits.. 8,500 00 250,000 00 $8,817,485 70 86,946 76 18,404,881 46 1,526,498 12 # 1,877,883 84 $3,558,894 79 «.F 1 i^f i 1 V' !ll ii ii! ■; I' ' i:i- 1 Ii I 88 Charges of Management, Public Debt 85,6*71 00 Legislation MOO 00 Civil aovernment 16,200 00 Administration of Justice 102,221 41 Reformatory Prisons and Schools 41,000 00 Rents, Insurances and Repairs, Ptiblic Buildings 26,000 00 Repairs of Court House and Gaols 18,000 00 Lunatic Asylums 60,783 66 Crown Lands 86,000 00 Miscellaneous Services 16,709 86 1556,490 te- W?j 14,115,385 ^8 ^i On account of which there has been paid to 17th December. 1891 2,097,925 35 Leaving to be paid between the I7th Dec. 1891 and 30th June, 1892 12,017.460 38^^ « ' SPECIAL EXPENDITURE. The Treasurer's estimated Special Expendi- ture for the same period was 1 1,826,581 3? To which is to be added the following amounts estimated as being required in addition for the following services during the year, viz. : Montreal Court House Extension % 180,000 00 Jacques Cartier Normal School 29,767 90 McGill Normal School 6,680 00 Railway subsidies 214,77196 • — 481,109 ^1 2,261,691 On account of which has been paid to 17th December 666,406 Leaving to be paid between the I7th December, 1891, and ' 80th June, 1892 I 1,691,284 M The above estimates, as revised, show that the result of the financial operations for the year 1891-92 will be as follows : — iii« i i u i ]HiT]Ui i n iii n iiiii iniM ii < i» n i , »i i « i > n, i m, »i ni «ii ,» «»,. « .»« 1556,490 9f 14,115,385 74 2,097,925 82 I 2,01'7.460 38 1 1,826,581 39 481,109 a 2,267,691 566.406 1,691,284 1t\ the financial lated ordinary receipts, as revised 3,404,381 46 Lated ordinary expenditure, as revised 4,115,385 10 sit of ordinary revenue to meet ordinary [expenditure 711,004 24 tated special expenditures, as revised.. $2,257,691 24 lated special receipts , ^ 3,000 00 2,264,691 24 368 of expenditure over revenue during 1891-92 $2,965,695 48 It is possible, however, that of the Special Expenditure, though the ^p^B have been voted, $800,000.00 or $400,000.00 may not be called for fN^iig the current year. II. Assets and Liabilities. An examination of our assets and liabilities on 8l8t January, 1887, i!«^h«n my predecessor took over affairs, and on the 17th December 1891, when he left o£Eice, taken in connection with the accounts and figures I have jlSSt given you, will show very clearly what the result of the administra- iidtt has been and how enormously our debt has been increased. In fact it ,|MB|i^ been more than doubled within the last 4^ years. Mr. Shehyn had a statement of the assets and liabilities made up on 31 January, 1887, and since that date they have been made up on the 80th JtWe in each year and I have them made up on the 17th December 1891. I ioaight go back to the 30lh June 1886, the last year of the Ross-Taillon administration and show you that the difference was very much greater, liT^t, as time is important, I will take the assets and liabilities during Mr. Siiehyn's regime. The following then is a summary of the assets and liabilities at various 8 as given since the 81st January, 1887, down to the 17th December, 1 SUMMARY. ASSETS AND LIABILITIES. 7, January 81st— Liabilities ..' $22,148,447 66 Assets 10,764,280 54 Net debt .% $11,889,167 11 Ilii 'h i I i-ft. ' - !3i } . 3* 188t, June SOth-Liabilities |22.188,t00 08 Assets •. 10.859,069 10 Net debt 111,829,620 98 1888, June 30th— Liabilities #24,180,461 56 Assets 12,284,969 49 Net debt $11,895,492 01 1889, June 80th— Liabilities |2t,16'7,808 21 Assets 12,818,960 60 * Net debt .' $14.343.847 11 1890, June 30th— Liabilitiefi $27,186,852 25 Assets 11,131,785 14 Net debt $16,055,067 11 1891, June 30th— Liabilities 134,888,207 06 Assets 11,139,653 80 Net debt 123,748,663 75 1891, December 17th— Liabilities $35,984,875 60 Assets 11,661,191 98 Net debt $24,423,683 62 It would take too long to give the details for these various years, though I have them with me here to-night. I will give, however, first the statement of the assets and liabilities at the 8l8t January, 1887, as made up under Mr. Shehyn. In this he makes it as favorable as possible for himself and charges up against his predecessors every liability he could. Approximate Statement of Liabilities and Assets of the Peovinoe OP Quebec at SIst January, 1887 : LIABILITIES. Funded debt outstanding $18,166,018 88 Temporary loans and deposits 729,227 67 Outstanding warrants at 31st Jannary, 1887 16,196 78 M' ^^^^PI^P^ w 'm 2,188,'700 08 0,869,069 10 1.829,620 98 1,180,461 56 5,284,969 49 ,895,492 01 ,157,808 21 ,818,960 50 343.847 11 186,852 26 131,785 14 J6o,067 11 188,207 06 l39,553 80 48,653 75 84,875 60 61,191 98 23,688 62 us years, Jver, first 1887, as possible )ility he aoviNOE ,018 83 ,227 67 ,196 78 25 lated deficiency of revenue of current year 18«6-87 to Bt expenditure, not including payments to be made on Iway subsidies, Parliament buildings. Q. M. O. & O. f. construction claims and Quebec Court House ray money subsidies authorized, but not yet earned ... ray land subsidies converted into pey subsidies under 49-60 Vic, cap. and authorized by Order-in-Council lor to the 31st January, 1887, 3,800,500 les at 70 cts. per acre $ 2,660,350 00 35 cts. per acre payable as the work is e $ 1,830,175 00 ,on account of same to 3l8t January, [7 246,846 60n ray land subsidies which may be con- ted into money subsidies, 1,326,000 a^'88 af. VO cents per acre $ 928,200 00 36 cts. per acre payable as the work is done Sstimated cost of completing Parliament buildings :•— litted claim for work; done to 31st muary $ 90,000 00 lated amount required to complete 115,113 91 itract for statues on Parliament buildings Estimated cost of completing Quebec Court House : — Imitted claims for work done to 3l8t [January itimated amount required to complete 70,000 oa ,823 16 ilahce of land and other debts Q. M. 0. & O. By. >ss on Exchange Bank deposit lebec Court House Bonds 370,842 06 679,732 26 1,084,328 50 $ 464,100 00 20'>,113 91 25,000 00 222,823 16 64,070 00 27,000 00 200,000 00 $22,1.48,447 66 ^■. ^^ ^.^^..11^.^..^.^..^^^ ...L. .-^...^^■...-.■■.^.■^V.'L^^, L..»..J......-.^A1...W.-...^^.^— -..■^J*^.^--^.. . ^^L^t^^A^ j^- ■ -^-A-,ni|.|fi(iii»iniiiii 26 ASSETS. •!! Part of price of Q. M. 0. & 0. Ry. deposited in banks I 400,000 00 Part of price of Q. M. 0. & 0. Ey. invested in Quebec Court House bonds 200,000 00 Balance of price of Q. M. 0. & 0. Ry. remaining unpaid. 7,000,000 00 Capitalized railway subsidies under Dominion Act 4*7 Vic, cap. 8 Special deposit in La Banque Jacques Cartier, payment of which has been refused on account of counter claim in re Hon. Thomas McGreevy Cash in banks Cost of Jacques Cartier School, Montreal, to be repaid fron^ sale of property Advance to various parties , $ 88,271 40 Estimated amount due as interest on Com- mon School fund from Ontario 100,000 00 T,600,000 2,894,000 100,000 11,4'7.3 ' 138,348 sub 100 City of Montreal, subscription to Hull bridge City of Montreal, contribution towards land expropriated between Hochelaga and Dalhousie Square Quebec Court House tax under 46 Vic, cap. 26, and 48 Vic, cap. 16 188,2'71 50,000 •72,188 200,000 Excess of liabilities over assets at Slst January, 188*7. $10,764,280 11,889,16'7 $22,143,447 (el Tbeasuby Depabtment, Quebec, 30th March, 1887, H. T. MACHIN, Assistant Treasurer P.Q. •; l«-*^f* Passing over the details on the 80th June following in each ymM come to the I7th December, 1891. and give the details, and the public will see the enormous and startling difference and increase. |lTt fd€ irt in iB oi ran ii 1: 27 '7,600,000 2,894,000 100,000 i j 138,348 188,2tl 50,000 1 T2,188 200,000 •fim 9,T64,280 l,389,16'7 M48,447 irer P.Q. ach year,l| mblio wiiij loxiMATK Statement op Liabilities and Assets op the Province OP Quebec at 17th December, 1891. - LIABILITIES. eddebt outstanding $25,209,873 88 orary loans , 150,000 00 deposits 258,248 25 ay Company deposits to meet guaranteed interest on ds 1,860,765 64 anding warrants 149,600 21 ay money subsidies authorized, but not earned .' $8,147,910 99 ay land subsidies converted into money sidies authorized, but not earned — ^bal- «&e on first 36c per acre 2,596,886 00 Ballt^ay land subsidies, which may be converted into money « siBsidies, 4,638,000 acres at 7^ per acre $3,246,600 00 35c per acre, payable as work is done... 1,623,800 00 'y ice of land and other grants Q. M. O.&O. Ry bial expenditure for 1891-92 under the Act Vic, cap. 1, sch. B $ 838,565 00 paid on account to 17th December, 1891.. 128,208 55 7,867,046 99 51,99J 78 IS on Exchange Bank deposit (ebec Court House bonds 710,846 45 27,000 00 200,000 00 $85,984,875 60 ASSETS. irt of price Q. M. O. & 0. Ry. [deposited in banks $ 858,390 00 irt of price Q. M. O. & O. Ry. invested in $29,000.00 Prov- ince of Quebec Bonds, loan of 1878, bought at 109 p.c... 31,610 00 fart of price Q. M. O. & O. Ry. invested in Quebec Court House Bonds 200,000 00 r*a^if**iCs!^^^r\jcr -i f 1 d 1 1 , \\ w m .28 Part of price Q M. 0. & 0. Ry. invested in City of Que- bec Bonds 15,000 00 Balance of price of Q. M. 0. & * O.Ry. unpaid Y.OOO.OOO 00 % "7,600,000 00 Railway grant under Dominion Act 47 Vic, cap. 8 2,394,000 00 Oashin banks 893,49127 Claim against Hon. Thomas Mcareevy 100,000 00 Cost of Jacques Cartier School, Montreal, to be repaid from sale of property 138,348 02 Advances to various parties 146,352" 69 Estimated amount due as Quebec's share of interest on Common School fund from Ontario 90,000 00 Quebec Court House tax under 45 Vic, cap. 26 and 48 Vic, cap 16 200,000 00 ■ $11,561,191 Excess of liabilities over assets at iTth December, 1891 24,423,688 $35,984,815 Note. —This excess of liabilities is exclusive of $tl4,004.24, estimatei deficiency of ordinary revenue to meet ordinary expenditure during fiscal year ending 30th June, 1892. Tbeasury Department, Quebec, 9th January, 1892. H. T. MACHIN, Assistant Treasurer. m III. the administration under HON. MR. MERCIEB'S REGIME. This is my last heading, and the statements here will well justify thr charge of reckless and extravagant administration. Turning again to Mr. Shehyn's speech of 1887 (at page 66) on thii] head he said, " Lestly, our well defined policy, one of the principal features of our programme, is to exercise the strictest supervision over the expendi'l ture of the public moneys, to closely watch their outlay, to control all th? j expenses, and to conduct the business of the Province as the business of it '^'.a")'H' "?* V? "r'^i . 29 [at managed financial institutions and great commercial houses are feted, and according to the rules and the practice observed in these itions. This is the end we hare in view. To attain it, however, we must jarily take time to seriously and thoroughly study all the details of o^^lpministrative organization so as to avoid doing anything that may in keeping with prudence and that will not produce solid and results. I am quite convinced that, by acting with discernment accordance with the principles of a wise administrative economy, [all succeed in materially and permanently reducing our ordinary and o^W)llable expenses." I'his was assuring, and it is well to bear it in mind in view of the follwing figures. [he expenditure in connection with the Province has been made the following heads : iblicDebt, Public Works, jgislation, ' Asylums, Ivil Grovernment, Charities, istice, Miscellaneous Services, *ublic Instruction, Special Expenditure, Lgriculture, Railways, Colonization and Immigration. [My first statement will be then to show you, as a preliminary one, the )us estimates made by Mr. Shehyn in his Budget Speeches during the ^a for which he was responsible, and how far he was wrong in each of his calciilations. This will prepare you to a certain extent for the jr figures I will give you. I will ask you again to bear in mind, when Mention a year it means the year ending 30th June : — Estimates. Expenditures. 1888 $4,220,'736 00 ^,615,011 20 1889 4,476,222 86 4,994,690 22 1890 4,389,024 44 6,008,591 86 1891 4,87*7,828 24 6.817,678 48 The detailed statement of these estimates and expenditures and under [hich the estimates are made, is found in the annexed statement " A." I will now come to the heads of expenditure, under the headings above Mentioned and give throughout, the expenditure in 1886, the last year of le !Ross-Taiilon administration. 1 . " I :: 1 i * i iH IS! m 80 EXPENDITURE ON ACCOUNT OP PUBLIC DEBT. 1886 including ^61,994 25 of bonds redeemed I 9l1,lQi 1887 " 64,359 44 " " , 1,016,02: 1888 " 66,845 10 " " 1,103,71 1889 " 69,429 29 " " 1,134,*I89J 1890 •' 62,133 96 " " 1,269,406 1891 " 64,970 00 ." ," 1,271,506 The detals of this are in the annexed Statement B. In the details of the Public Debt, there are one or two startling il in connection with interest on the unfunded debt, which includes, course, interest on temporary loans, and is a fair criterion of administral ability in carrying on the affairs of any business, and much more so, affairs of the Province of Quebec. Now let us see what has been paid interest on temporary loans and unfunded debt during the various yeai 1886 / $ J6,846 68 1887 67,088 92 1888 76,223 19 1889 39,525 88 1890 149,741 40 1891 170,787 28 It will thus be seen that this Province was paying about $171,000 interest on ordinary operations during the last financial year, and th figures will be interesting to show later on how far some economy mij be made in the administration. Let us take another item in connection wr.th the public debt, that the item of Commission, Stamps, etc. Here are the amounts paid follows: — 1886 I 5^081 22 1887 5^074 93 1888 13^433 44 1889 •7,389 42 1890 24,021 40 1891 14,588 25 It is sometimes difficult to trace and ferret out what these varioi amounts are actually paid for. Of course, in the year 1888 there is a reasoi for the increase on account of the loan of three millions and a half negofr ated m that year, but in the year 1890 there can be no justification for sack a large amount of 124,021.60.. o(m 11 il ic 01 1,016,02!. 1.103,7lol 1.259,406 1.271,506, tartling ^ I includes,! administrati I more so, been paid | arious yean tmi.oooi Jr, and tha momy mig debt, thati tnts paid ese yariou is a reason] lalf negoti- >n for sacli 81 ere is one item in that year of $13,000 mentioned in the public ts as paid to La Banque da Feuple for fees and disbursements in tion with the management of the public debt. This item is for a $13,000 not paid to La Banque du Peuple bnt paid to Mr. C. Beau- br his so-called commission in the negotiation of the loan of three s and a half. Strange to say this loan -was made in the early part and, for the first time, and without there being any record at all in ipartmer.t, or any correspondence to show Mr. Beausoleil is entitled thing, this sum of $13,000 is falsely entered as a payment to La e du Peuple. e have the Public Accounts for 1888 and for 1889, yet not a word this account. Why was it suppressed for two years? However, nothing but a suspicious and delusive entry. On the 28th June, r. Beausoleil made his final return of collections of the taxes on rcial corporations. According to his statement ho had collected 41 93. Among other items he claimed a commission of 2j[ per cent. ^jr fiS,041 93 which he deducted and paid over the balance. The 8a|p| day Mr. Shehyn acknowledged receipt and thanked Mr. Beau- ■olill for the manner in which he had collected the tax and performed luir M 48 CONCLUSION. The foregoing figures of cash operations and assets and liabilities, and respeotipg the late adminiHtration under Mr. ^hebyn's management, and taking, as stated be- fore, his own classification, show that — Ist. The total deficit for four years ending 30th June, 1888, 1889, 1890 and 1891, between ordinary receipts and ordinary payments, was $528,672 70. 2nd. In addition, the so-called " special expenditure," exclusive of railways, aggregated $2,674,243 82, or an average of $668,660 96 per year. That for Bailwuys aggregated $3,037,960 63, or an average of $769,490 13 per year. And these special and railway expenditures bave bad to be paid out of bon*owed money. 3rd. In the same four years the so-called ordinary expenses bave increased as follows : — Ordinary expeuHes as above, 1891 $4,096,520 45 Ordinary expennes in 1886, as per Public Accounts that year, page 16 3,032,771 46 Increase 1891 over 1886 $1,062,749 00 4th. Our nett debt has increased as follows : — Nettdebt 17th December, 1891 $24,423,683 62 Nett debt 17 tb January, 1887 11,389,167 11 Increase $13,034,516 51 6tb. This is without considering the results of 1891-1892, which will make the situation much worse. 6th. During the whole period Mr. Shebyn bad also the advantage of arrears of taxes on commercial corporations and annual revenue from seme source, as well as an increabe on the ground rents for timber limits, and increase from liquor and otber licensed. These were as follows : — Arrears Commercial Corporation Tax $558,393 00 Annual collection Commercial Coi-poration Tax about. 130,000 00 Annual increase gi-ound rents on Timber Limits about. 140,000 00 Annual increase one year from Licenses about. 150,000 00 Without these increases what would Mr. Shebyn's position bave been ? In conclusion I can only say I have already spoken at the Drill Shed on the Con- Btitutional quastion. I accept my share of the responsibility in the dismissal of Mr. BHi 49 Meroier and tho appeal to the country. None can complain bat the people, and in their hands we leave the whole matter. The Baie dee Chaleur? Railway matter and the Bubaequent disgraceful plunderings of the Public Chest, juetify our action, and we ask the people to confirm this. As to the figures and statements I have given you candidly to-night the figures shewing you the i-esult of the Meroier administration for a little over four and a half years. These shew cle?irly it has been reckless, extravagant and corrupt beyond measure. It has put in jeopardy the stability of the Province, smurched its credit and threatens its ruin, and it remains for you, the people of the Province, to decide whether it is to continue. . I have thrown the responsibility upon you, and the vote of the electorate on the 8th March next will decide. I sincerely trust that the true patriotism of the people will rise to the situation and declare that this state of affairs must cease and the plundering of the Provincial Troasui-y be put a stop to. 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Unpaid warrants Balances money subsidies granted befores 1886 Balances land subsidies granted before 1886 Legislative buildings and Court House at Quebec Balances land and other debts Q.M. 0. &O.Ey Loss, deposit Exchange Bank Estimated deficiency ordinary re venue 1886-87 Paymentu from February 1, 1887, to June 30, 1891, on account of the amounts mentioned in Act. 1881 ^ •729,22*7 16,196 5*79,732 1,548,428 427,937 64,070 27,000 67 78 25 60 06 00 00 1891. Balances remain- ing unpaid. Oourt House, Montreal Iron bridges Explorations Supplementary estimates 1886-87. 370.842 06 13,763,434 32 $ 546,820 48 16,196 78. 261.853 75 900,962 60 427.937 06 64,070 00 $ 182,907 19 200,000 26,000 10,000 39,190 00 00 00 57 $4,087,624 89 315,606 16 200,000 00 26,000 00 10,000 00 318,378 60 647,465 90 27,000 00 66,236 90 $2,767,446 83 Net proceeds of loan under 60 Vic. chap. 2. Payments as above , 39,190 67 $1,270,178 06 Balance which should be available for payment of the balances remaining unpaid as above $3,378,332 601 2,767,446 88| $ 610,886 67 Treasury Department, Quebec, 9th January, 1892. Memo. — There have been large payments on account of the Legislative Buildings and Court House, Quebec, and on Iron Bridges and Explorations in addition to the amounts provided for in the above Act, which are in eluded in the items of Special Expenditure mentioned in the Act of las Session *atkorizing $10,000,000.00 loan, H. E. MACHIN, Astitinnt Profnnciai Treaaurer, MM Itaiitiatiiiiii AS ATJTHOB- m. ti ilances remain- ing unpaid. ; 182,907 19 818,378 60 647,465 90 27,000 00 55,235 90 0. 39,190 57 $1,270,178 06 $3,378,332 50 2,767,446 88 \ 610,885 67 ►f the Legislative mdExploratione t, which are inj , the Act of las! rovinoicd Treag^rer- — f " * ' — ■'-■■■•*-o%.^mm