;JSV iim-'^f*^ I— *■ ■■^ BUDGET SPEECH V. •..' DKLlVKHEl) KV ,/,»> /^ HONORABLE A. W! ATWATER, -(, Treasurer of the Province IN THE LEG[SLAT[\'E ASSEMBLY OF QUEBEa ON WEDNESDAY, 9th DECEMBER. 1896. c, Sf PllINTEl) AT THE QIIEBlilC : " MOKNINa CHRONICLE '" OFFICE. - ■ 1896. I ■ .r n- --■ .. . '-. ■>. .'■■ -'■ «*^'^ „^ .' • ■■ *■ • , ■> ■ . • >•■■./. r ', '*, . •>" . ■■>^>' ' •■■>-.,'• T s.' , *-T - ,»^/« -.u- . ''.■"> w^j't ^'*V.-' I'ff.'^^k BUDGET SPEECH DELIVERED «Y HONORABLE A. W. ATWATER, Treasurer of the Province m THE LEGISLATIVE ASSEMBLY OF QUEBEC, ON WEDNESDAY, 9th DECEMBER, 1896. QUEBEC : PRINTED AT THE " MORNLNCI CHRONICLE " OFFICE. 18PG. BUDGET SPEECH DELIVERED BY HONORABLE A. W. ATWATER, TREASURER OF THE PROVINCE, IN THE LEGISLATIVE ASSEMBLY OF QUEBEC, ON WEDNESDAY, THE 9th DECEMBER, 1806. Mil. Spe.vker, On the same day when this, the last session of the present Legislature opened, I had the honouv to lay before the House the public accounts for the Jiscal year which ended on the 30th day of June last, and on the fourth day of its sittinj^.s, and so soon as this House had adopted the address in reply to the speech from the throne, the estimated expenditure for the fiscal year from the 30th .Tune, 1897, to the 30th June, 1H98, and the supplement- ary items of the expenditure for the current year were, by message from His Honour the Lieutenant-Governor, laid upon the table and I take the earliest possible opportunity of presenting to you that resume of these documents and the explanations attaching thereto which it falls to my lot as Treasurer of the Trovince to make and which is commonly known as the Budget Speech. I confess, Sir, frankly, that I approach the subject with mixed feelings of fear and of pleasure. Of fear, lest I may not be able to handle the im- portant questions which we have to consider in a proper manner, and of pleasure that if rightly understood the figures which I have to deal with will throw more than a beam of light on what of late years has been the darkness of our financial condition. Speaking for myself personally, I am, Sir, conscious of my inexperience and of the magnitude of the duties which have devolved upon mc. Except m so far as the future is concerned the matters of which I am about to deal concern principally my predecessors in office, and it is of their administration I must speak, hut I have assiduously endeavored, since I have had the honour of lilling- the position of Treasurer,— since the 12th day of May last,— when the Prime Minister completed the present adminis- tration, to master th(^ problem oi the finances of the Trovince, and I trust that my efforts have not been entirely in vain. In the remarks which I may make I will extenuate nothing and set down naught in malicf. I rannot say with the poet that I will "lisp in numbers for the numbers come," for they have come only with much work and study : but, such as they are, they express my honest estimate of the linancial status of the Province, and an estimate which I trust this House and the country may find to be correct. There is one point which at the outset I would ask you to remember. We arc. as the age of nations is reckoned, still a young country. Our indus- tries and natural resources are still in their infancy, and in the course of our growth, as we develop and expand, it is inevitable that our expenses must increase in proportion to our growth and that figures, which to our forefathers might seem vast — to the point of extravagance, to-day only represent the natural outlay which the progress of the country necessitates. It should be the duty of a Government, while encouraging su('h objects and enterprises as tend to develop and open up the resources of our Province, to check expenditure which is wasteful and extravagant. If properly applied, large public expenditure means investment for the future, of which those w^ho come after us in later years shall reap the benefit, and which will yield to the public treasury an ample return for the present outlay. No province or country can stand still. It must progress or retrograde, and if by a wise disposition of the public funds a provision is made for the future, which w^ill increase population, improve the condition of the people and open up unused tracts of the public domain, such expenditure is not only warranted but imperative, and the reward will be reaped from the increase in the public revenues. We have a striking example of this in the administration of the Crown Lands, a department which has been so ably directed for the last five years by the present Honourable Premier, and which comprises all the vast public domain of the Province, its woods, mines and fisheries. To go no further than ten years back, when the then Treasurer, the Honourable J. Or. Robertson, made his budget speech in May, 1886, he hazarded a conjecture that the Crown Lands would return to the Province , for the fiscal year 188»)-87, the sum of sBTOO.OOO. The actual receipts were !5i692.000, and the expenditure connected therewith was $154,000. For the fiscal year just ended, on the 80th June last, the expenditure was i5il8.'),000 and the re- ceipts were |l,04r),000. So that while the expenditure has been increased by twenty per cent of what it was in 1H8G. the revenue has been increased by nearly fifty per cent, nor have we reason to believe that it will not con- tinue to increase proportionately. Sir, I am happy to say that for the fiscal year just closed our ordinary receipts have exceeded our ordinary expenditure by 1 286,088. Let me deal first with the accounts of the fiscal year which has just closed, and the receipts and expenditure connected therewith are l)efore you in the shape of the Public Accounts. The book is closed, the accounts are balanced, and we are able to see how far the estimates made of the receipts for that year were correct,, and how far the promises connected with that expenditure have been kept. I turn first to the receipts. The Hon. Mr. Taillon, in his budget speech delivered on the 21st December, 1894, estimated the net receipts at |4,2.'>5,- 190.42. We find the actual receipts to have been 14,331,190 17, or an ex- cess of actual over estimated receipts of 175,696.7"). ft It is proper that I should .say, Sir, that included in these actual receipts, is an amount of %;.V.»,.") 18.40, which was received and expended by the Sheriffs and Collectors of Provincial Revenue, but, on the other hand, this amount appears in the statement of expenditure, although according* to custom it was not included in the estimates of the expenditure. If this amount be deducted from the receipts, as it may be contended it should be, an excess exists of actual net receipts over estimated receipts of $16,- 178.35. But, vSir. had we received before the 1st July last all that was due us upon one or two principal items, which I will enumerate and which we are clearly entitled to, the actual revenue would appear still more en- couraging. My predecessor, in 1894, reckoned with confidence upon certain payments of interest which were due to us by the Dominion Government. These had been paid uninterruptedly since Confederation, and amounted to $71, 38."). 95 yearly. This amount was composed of the interest upon Quebec's share of the Common School Fund in the hands of the Dominion Government, viz. :■ — $50,770.22 and of interest upon certain trust funds belonging' to this Province which have been in the hands of the Dominion Government since Confederation. The capital of these latter funds is 6 $412,314.2:. and (h(^ ml.' ol' iiit.M'cst allowtnl has hcou o p.c. pr-r annum, makiiiii annually >iL!M,»Jl".. 72. Tlifsc inl.M-,'st paynnMit.s woiv i-cccivod by u.s hall-yearly allor the 1st January and 1st July, in each year. Tlif hall-yearly payment ol'thelir.st ofthose two items, that of the School Fund.s. which r.'li due on the l.st January last, was withheld by the Dominion Government as a result ol'a prol.-.st on the part of the Iroverumeut ol" On- tario, based upon the pretension tliat these amounts should not be paid to ns until the dispute between the I'rovinres. which had been referred ta arbitration, was settled. This Government vehemently protested in the nami' and on behalf of this Province, and I am hippy to say that our repn'senlation.s prevailed, aiid that the late Government of the Dominion on the l-uh July last, paid ns this amount of sj.j,:}8.3 1 1, bul of course il was too lale to b,' n>i^ardi'd as a re- ceipt of the liscal year, and the actual n^ceipts lor that year sull'ered pro- portionately. The Dominion Governm'ut has, since the lirst January, 18!^"), withheld payment of the intert'st on the Trust l<'uiuls amountini^' to $20,015.72. There is no i)retension on their part that this interest is not due, but they claim that the result of the arbitration proceedings pending" may establish an ind,'l)tedness on our [)art towards them an-iinst which they will credit this interest. The contention is to my mind utterly un- tenable, and I trust the i)resent Administration at Ottawa may do speedy justice in this respect to this Province, though it is jrreatly to be regretted that at the last moment, on the hearing of the appeal to the Judicial Com- mittee of the Privy Council, from a Judgment of the 8ui)reme Court, in an appeal from an award of the arbitrators, the Dominion Government with- drew from its position, which had been practically oi\e in support of Quebec's contentions, and viitually de[)rived us of the benefit of its support. The revenue from this item was accordingly short of th(» estimate' by the amount of one year's interest on the Trust Funds and a half yearly payment on the Common School Fund, or in all §-10,000. 8-}, of which $2.'),&S5.11 has since been received. The next item which fell short of the estimates was the interest on the $7,000,000 remaining in the hands of the Canadian Pacilic Kailway Com- pany as part ol the price of the sale of the Quebec, Montreal, Ottawa and Occidental Kailway. The amount of the shortage on this item is !i?3G,r>42.02, which is accounted for by the change in the rate of interest under an agreement between the Company and tlie GoviMiinnMil, niadfon "tli Fchinary, lH!t,"» In tliisr(»nnnc- tion I tn«Mvly desire to say that I think the ai'ieenicnt then mado was a j^ood one. l>y the previous agvt'iMnonl tht' Company liad thf riu'ht to n'pay tht>! amount owinu; at any time, I do not think I hey wonUl havf had nim-h dif- lic'ully since then in obtaininq: money upon their l)onds it' necessary and paying' ITS oil" and thus have reduced their ral*' ol' interest hy ont» per cent per annum, whih' we would have had dillieulty in t^ettinj^ four percent ui)OU tho returned investment. As it is they are now hound to pay inte.nvst at the rate ol fcur and one-twentieth percent until the 1st March, 1004, upon $7,000,000 when they have the right of payinir>i.'),."»00,000 and until the Isl March, 1000, upon the balance ol' .ii;:V')0O,00O. On the item of interest upon loans and deposits, the amount realized was $6,;')02.21 less than estimated. This was caused by reduction in tho rates of interest and by variations of the 'amounts which the l'rovinms not included in the estimates, viz : Prisoners' earnings !| ,')2 01 Railway Inspection fees 402 00 Quebec Fire Loan 2<>0 00 Premium of Exchange 29 00 Rent of Chateau Frontenac property 244 70 Refunds of unexpended balances of appropriations ; 21,s07 81 .s22 015 o2 Making a total of 1220,054.70. which exceeds the amounts of shortages by the sum which 1 mentioned before of $16,178.35. THE EXPENDITURE 1805-90. Hon. Mr. Taillon estimated the expenditure for 1895-90 at $4,2:^2,110.97. In this estimate he included the amount estimated to be repaid upon tlie Railway G-uarantee Deposits of *|208,235.02. Ilis estimated expenditure then, without this item, would have been |3,9.")8,875.8."). The actual expenditure, exclusive of the return Ilailway Guarantee Deposits, was $4,099,707.00, including extraordinary expenditure on Public Works and Buildings, being 1145,831.65 more than the estimate. This, hovveviM-, in- cludes the $59,518.40 paid out of receipts by the Collectors of Provincial Revenue and Sheriffs, which amount appears iu Statement of Rerei[)ts. The actual excess, therefore, of expenditure? over the estimates is 'j!80,31o.25. The .details of the dill'ereut items showing the dillerences are as follows ; AMOUNTS EXPENDED IN EX0E8S OF ESTIM.\TE. Administration of Justice jjj; 2.004 28 Agriculture, Immigration and Colonization 52,414 09 Public Works and Buildings : Ordinary 1,837 44 Extraordinary 26.985 34 Miscellaneous Services 36,081 29 $119,922 44 AM0UNT8 NOT EXPENDED OF ESTIMATE. Public Debt §29,287 45 Legislation 2,145 63 Civil Government 2,175 87 Public Instruction, etc 24 $ 33,609 19 Excess of Expenditure over Estimate $ 86,313 25 10 It will bo seen that the priucipal iiicreasosi have been in respect of Agriculture, Immigration and Colonization, Extraordinary Expenditure in connection with public works and buildings and Miscellaneous Services. The latter comprises such additional exp 'uditure as was unforeseen in connection with the Crown Lands Department, and which was necessary for the surveys of the public lands. This I regard as a useful and i>rod active outlay. It includes also a sum of $11,562.00, which was donated to suU'crers by fire, Hood and famine?, which was a necessary and charitable contribution to thosi' who had suffered from a visitation of Providence, and was an expenditure which we may all pray will iind its way as seldom as possible into our public exp.'nditure. Of the amount in excess in the above table attributable to Public Works (extraordinary), $1 1,0(S6.3"> is the balance payable to Mr. Valliere under an award of arbitrators, and tO,90(J.OO for a safety vault in conn.-'ction with the Montreal Court House, and $8,000.00 for an iron bridge at St. Pierre, across the Riviere du Sud. Ofth^ amounts expended, which were less than estimated, the prin- cipal saving was in connection with the Public Debt. When my predecessor made his cstimat,' of what would require to be paid upon loans to be made by the Province, he calculat'd on paying 4^ or 5 per cent. A temporary loan was eff^'cted ol .i;.300,000 sterling, equal, roughly, to !|l,r)00, 000.00, at a rate of something less than 8^ per cent, per annum. This operation diunonstrated not only the exci'ilent iinaiicial standing of the country under the present Conservative Administration, but the care which has been taken to save as much as possible in interest charges. THE LOAX OF ISOd AND ITS PREDECESSORS. This brings m > to a consideration of the loan of ISOG and of the application of its proceeds, and as this loan, amounting to .i;(j20,000 sterling, or $8,017, 333. ■•53, was the last issued under the Act 54 Victoria (1S90), cap. 2, I may be permitted to deal with all these loans at once. By this last mentioned Act the Lieutenant-Crovernor in Council was given power to ])orrow, from time to time, ns the necessities of the Public Service should re(piir(\ a sum not ex(x>e(ling ten millions of dollars, for which bonds or debentures should b > issued blearing not more than four per cent, in- terest per annum. TheGrovernmentot the day set forth by the preamble to this Act a statement of the different amounts which constituted the floating debt of the Province at that time. These amounts aggregated |10,«62,355.86, and the following are the details : 11 (a) Outstanding Warrants on June 30th, 1890 f 112,571 45 (6) Temporary Deposits 201,:U)l 27 (f) Railway Companies Guarantee Deposits 1,!»10,(585 08 {d) Railway money subsidies grunted, hut not yet earned !|1,3G7,737 92 First 35 cents per acre of Railway land subsidies granted and converted, but not yet earned. 80"), 15!) 0(3 First 35 cents per acre of Railway land subsidies granted and which may be converted 065,350 00 2,S0S,247 88 (e) Balance of land and other debts, Q. M. O. and O. Railway 122,304 00 (/") Loss on Exchange Ikink deposit, to be re- placed in Sinking Fund under the Act 45 Victoria, chapter 21 27,000 00 (g") Amount due Protestant Committee of Pub- lic Instruction under settlement Jesuits' Estates 02,901 00 (k) Estimated Special Expenditure, 1890-01, as per Act 53 Victoria, chapter 1 912,183 00 $6,313,374 58 Less Cash on hand on 1st July, 1800 525,344 43 15,788,030 15 (i) Supplementary estimated special expenditure 1890-91 115,448 71 U) Estimated special expenditure, 1891-92 838,555 00 Less re-votes 280,000 00 558,555 00 {k) Railway money subsidies, as set forth in the resolutions of the Legislative Assembly adopted on the 23rd day of December, 1800. 2,544,270 00 First 35 cents per acre of railway land subsidies, as set forth in the resolutions of the Legis- lative Assembly adopted on the 23rd day of December, 1890 1,856,050 00 4,400,320 00 Making a total of • 110,862,353 86 12 Tlie prt'cual)l(' g'oos on to state : " Whereas tlio imciuiteslod ohligations of the rroviiioe, mentioned in " the pr»?aml)le ol'the act oO Victoria, chapter 2, amount to §4,037,624.89, in " addition to contested chiini.s, existing- belore the 29th January, 1887, and " upon which hirge sums have h.'cn sine > paid, without having been pro- " vidijd for by the said loan ; " Whereas the .sum realized by the loan effected under the above men- " tioned ti.t was !|.",,87S,3a2.50 ; " Whereas railway subsidies were voted, in \>,00().0() ; " Whereas a new debt of 140^,91100 was created by theactr)ls32 " Victoria, chapter l-», for the purpose of finally settling claims that had " b.'en pendin<_^, for nearly a century, upon the ct!.ssion of the property " known as the .ri\suits' Estates, estimated at several million dollars; and " whereas the share coming to the Catholic institutions, by means of such " cession, to wit, $400,000, has been paid; " Whereas it has become nece.ssary to build a new gaol, and to enlarge " and repair the Court House and Normal schools, at Montreal ; to build " iiew Court Houses in the counties of Ottawa and rontiac, and a new " Normal school at (Quebec; to redeem the debentures issued by the town " of Fraserville, for the building of a Court House at that place; to build " safes in, and to make urgent gross repairs to, the Court Houses in the '• rural districts, and that large sums will be required for such purposes ; " Whereas the Province may be called upon to provide for the buildi'.ig '' or purchase of one or more lunatic asylums in time for the expiration of " the present farming-out contracts ; " Whereas the building of iron bridges and important colonization " roads ; the maintenance of night schools for the working classes in towns " and country; the special and new subsidies to further aid primary " elementary ,-chools, building of convents, colleges and academies for " secondary education, and stoning of roads in rural municipalities, have " required and w^ill require heavy expenditure; " Whereas new sub.sidies, amounting to several million dollars, have " been voted during th(^ present session as being necessary to crown the " railway policy sanctioned by preceding Legislatures; " AVhiTcas other expenditure, imputable to capital, has become neces- ♦' sary under the circumstances and is required in the public interest;" 18 It will thus be seen, if the policy of the Goverumeiit of that day had. been carried out that the $10,000,000.00 was only a coinin Micemont of what would eventually be required, it was not enough to even provide f world at a lower rate than 4 percent., yet it is of the very greatest advantage to any country to get the interest on its debt to the lowest point possible. I wish, 8ir, that all our securities were bearing no higher rat' than 3 per cent. It would bo a benefit in more ways than one to the Province, and no future treasurer would think of paying a higher rate. If the security we oiler is good, then we pay too much in interest on our previous loans. Again, the loan in question was only payable in sixty years. Now, Sir, I affirm, and I do not think that I can be contradicted when I say that the present value of a bond bearing interest at 3 per cent, and payable in sixty years in order to return 4 per cent, to the holder is slightly over 77 ; to be exact 77.32 per cent. In other words a sale of a XlOO bond bearing 3 per cent, interest and payable in sixty years at 77 is equal to the sale of a 4 per cent, bond at par. Now, Sir, this Province never up to this present 14 year obt.iini'd par for its 4 per cents. We have obtained 04 and 0"), as I have slated, hut have had to accept that sum lor such an insignificant period as two years, and were pnictically payiiiii' usurious interest. Six per cent, discount, plus 8 \n'i cent, for two years' interest, equal 14 per cent, for the use of money for two years. In what stale of credit can the Province be said to have been? Financial men know the Vidue of the securities in which they deal, they know the liabilities of a debtor to whom they make a loan, aiul do you think from the lii>ur('s 1 have given you that the credit of the J'lovince stood higli iit that time ? Sir, I do not s[)eak cither lor or auainst the transaction, but what I do say is that contrasted with its immediate predecesstns, and considering the condition of the |»rovinci;d cri'dit, the loan in (juestion was not all that linaucial critics and political o[)pon('nts would make it out to be. On the Urst March, 18!)4, a four per cent, loan of .C(JOO,000 was placed in London at !t|, and realized $2,744,800.00, and on the 1st May last 189(5, Mr. Taillon pliiced the last loan of X620,()00 at a premium ol 5 percent. This is the first loan for which the Province has ever obtained a premium The: credit of the Province does not appear to have been deteriorating, but we do not hear the acclaim from the sources which were so ready to blame. Now, Sir, these are all the loans which have been issued under the act of 1890, and how have the proceeds of them been applied <* In the stupendous expenditure contemi)lated by this act there appears^ it will be noticed, a casual item of $912,18o.00 (not (juite one million) which was lor estimated special expenditure, for that year, 1890-!)], and the details of which appear in the estimates of the session previous (.")3 Victoria chapter 1), and later on, for Supplementary estimated special expenditure, $115,448.71. making a total of !ii;l,027,(J31.00. This indicated magnificent exiiendituie, and included a new gaol at Montreal to cost 1^400,000.00. The latter was needed, but it was not built, and belbre the 30th June, 1891, the close of the fiscal yeiM* for whichlhese amounts were voted, 1820,254.00 of this total had been spent, so there was only $207,377.00 to build the new 1400,000.00 gaol with, had it been gone on with. The money had to be found for all this and for ihe subsidies. Mr. Shehyn made the loan in Paris of which I have spoken ; it was repaid by the short date loan of 1893, and in turn this was repaid by Mr. Taillon's first loan of December, 1894. The amounts received between 30th June, 1892, and 30th June, 1896, from proceeds of loans not deducting expenses paid from Consolidated Fundj have been as follows : 15 Loan of ISOS |3,8(;0,073 34 1894 2,744,S00 00 " 1894, Paris 4,10(),39l 52 « 189(5, Part issued to aotli Jui?o, 189(;.. 2,044,000 00 iftl2,7r)5,2(]4 80 out of which have been paid the fo lowing- loans which matured, viz. : Loanofl89l 3,800,000 GO 1893 4,100,401 00 To this should be added the Cash on hand, 30th June, 1S92 1,331,8:,-, 2!) Less warrants outstanding" ;')',;'), 028 10 7,900,401 00 !iii4,788,803 80 770,827 19 $5,505,031 05 From this have been paid : The Temporary Loans outstanding at 30th June, 1892...' 1,550,000 00 Railway Subsidies 2,808,031 90 Q. M. O. &; 0. Ry ()1,950 39 4,480,588 29 Leaving a balance of ijil, 085,042 70 which is accounted for as follows : The total Expenditure, exclusive of Temporary Loans, Kail- way Subsidi(»s and Q. M. O. mploy. Before concluding my remarks on the a'couiits of the pasr year, I may make a short .statement, by way oi" comparison, of I he receipts and payments of that year with the year preceding (I804-!io)— fuller particulars of which are given in the statements which will he put before the .\s.sembly and distributed. The payments for 1804-9.") were S4,r)00,(5:}3 31 " 18lt')-0(; " 4,4i:),2(38 52 The receipts for lHl)4-9.'» were $4,343,971 ^5 " 1895-96 " 4.359,594 91 The Current Vejir. We must expect a falling off in our receipts this year from the removal of the land transfer tax, from which my prelecessor estimated we should receive !S200,000.00. I do not think this tax will produce more than 160,000.00 for the portion ot the year during which it will have been in force. On the other hand, our receipts so far from Crown Lands have been quite as good as during the same period of last year, and we have every reason to bclievt> that our receipts from this source will exceed th(^ estimate by !ii;60,000.00. From the duties on successions, we have since the 1st July last already realized more than half the total which was estimated would be received for the entire liscal year, and though my satisfaction for the amount received from this duty is tempered by the rellection that the debt, which all hum- anity owes to nature, has been paid by many of our best citizens, I think we may safely conclude that it will produce for the year fully ii?20,000.00 more than estimated. From Licenses, I think we will realize #30,000.00 more than estimated, and from interests on deposits 810,000.00, making a total increase from these sev^eral sources of 1120,000.00 — which is but !i>20,000.00 short of the amount we shall lose on the repeal of the land transfer tax. We must also remember that the item of !$25,385.11, which was tem- porarily withheld by the Dominion Grovernment will appear as a receipt of this year. THE ESTIMATED RECEIPTS AND EXPENDITURE FOR 1897-98. The estimates for the expenditure of the year 1897-98, with the different services to which they relate, hav(\ as I said, bi^eu baiore this House for some days. The summaries of the estimates for receipts and expenditure, are as follows : 3 18 STATEMENT E. EstiiTiatcd Receipts 1397-98. Dd.mimon it Can vha ; Sulmidy undi r 15. N. A. Ait s!».j(>, •_':.•_' KO Infcrisl (III Pnist Kiiiids 71. •■"''^•"> '••4 Spwiiil Subsidy, 47 \'itt., I'liai., 4 l'-'7.4(i() fiH Intfi'u.st on Ilfiihviiy Siihsidios uudur 47 Viet., clmp, 8 1 II>,7ni» 00 ],-J77,7!>!» 42 Intrkkst ; liitfi-cst on price < if siilf <^>. .M. ( ». i'^ (>. I!,iilw;iy .".OS.OOO 00 Iiiti'ivst (Ml Li)aiiH (lud Do[Mi.sits 'J.'i.odO no ; ill;;, 000 00 Crown Lands I,0(i7,70() 00 Admimstkatiun of .IrsTicK : Law Stamps . l!»0,OOQ OO Law Fi-ts 14,000 00 IJiiildini,' and Jury Fund. (Net revenuf) 10,000 00 MainttMianoo of Prisoners 1(»,0()() 00 (Jaol (iiiards, Montreal and Qiiohee .^,000 00 Fines ,'iOO 00 Montn-.il (laol 4,000 (10 Dtlior (Jaols- Prisoners' earnings ... 100 00 Montreal Court House 3 ooil 00 Hiyh Constable's Fees, (^>ueliec .'lOO (lO 'j;i(i.lOO oO Registration Stamiis (including fees of Registrars, Montreal, (,|ueliec and hexin) 05,000 00 Licenses. (Net revenue) CISO OdO 00 Direct Taxes on Conuuercial Corporations l."i(),000 00 Duties on Successions 2(10 000 00 Percentage on Fees of Public OfHeers H,000 00 Percentage on renewals of Mortgages OQO 00 Maintenance of Insane 50 ooo 00 Maintenance of linuates of Industrial and Reformatory Schools 20,000 00 Legislation 10,000 CO Ofticial ( iazette o^ 000 0(J Rents of Public lluildings, itc 1 0(10 00 Casual Revenue .... ;5 oqo qq Provincial Lisurance Companies- Contributions. 400 00 Contributions to Pensions, Civil Service C, ooo 00 Premium Di.scount and Exchange 1 000 00 4,0.S(U00 42 Reimbursement Railway Subsidies Tax 30,000 00 , i?4,110,]f»!» 42 19 STATEMENT F. ESTIMATED EXPENDITURE 1897-98. 8 cts. I'liMic D(!l.t l,r)24,(;21 5;^ Li)gisl;itii.ii I !tr>,(>78 ih") Civil OcvLrmmiit 2r)(i,o72 00 AiliiiiniHtmliiin of .liistico, Ac r)7r»,3!*0 00 Public IiistnicMou, itc ;5HO,2<10 00 Agriculture, Iimui<4riiti- sliitiMiK'nN I cxfludc from ordinary t'xpoiulitnro the r('i)ayiiii'iit ol llic Railway (luaranloc Ijpposils, — and, l)t'rori> slating' tht* manner in which I [noposc (o (h'al with this payment. I may ho permitted at the risk ol' horinii' this House, to say a word or two in explanation ol'the nature of these deposits, and ol'the ohliyation on the Province in rospect of them, — for the henelit, it may bo, of those whom my words may rcMch, who have not as intimate a knowledge of them as my immediate audience. Previous to ISS4, and in thai year, legislation was adopted which allowed railway corporations, who were entitled to a fiuhsidy, to leave that .subsidy in the hands of the Treasure!' of the Province, (»r to sui)pli'ment it l)y the deposit ol a lurlher sum, and in such ease, the Lieutenant-tfovernor in Council w.is aulhori/ed to guaraniee so much ol the interest upon the l)onds ol'the comiiaiiy and for such term of years as the money dejiosited, plus the subsidy and plus the interest which the Government would receive upon the amounts in its hands would i)rovide for. The object of the legislation was good, was good in so far as it omibled a railway, the construction of which was benelicial to the Province, to finance upon its l>onds without any risk of loss to the Province, which was at the outset put in funds lor the entire amount guaranteed. It is almost needless to say, however, that it was not intended that any Government should expend the money they received in this way, or that it should borrow, in ellect, fr(»m the railway companies. The following deposits were received at the dates and from the railway companies mentioned to provide for such guarantees of interest : 188H. December liO.— Quebec and Lake St. John Railway Company. !jil,5y2,:]94 00 188i>. August 20. — Temiscouata Railway Company 044,573 45 September 13. — Montreal and Lake Maskinonge Railway Company 32,703 00 ISOO. August .'). — Temiscouata Railway Company 270 4.> These amounts, instead of being left on deposit, as was distinctly contem- plated by the law, were expended by the Government prior to December, 1891, and we have since had to meet the interest payments guaranteed on the bonds as best w^e could, Li 1890, at the time of the passing of tht; act authorizing the borrowing of #10,000,000.00, the amount due in respect of them was 11,91(3,68."). 98. This had only been reduced by 1174,047.45 to theSOth June, 1892, leaving a balance of 11,742,038.53 al the latter date. 21 Oil (hi' 80th .Tuii« hist thoy amouiihMl to |i7*28,05l.30, and the hist of them will have lieoii pai^l by .Tamiary, 18'J9. The Treasaivr. in 1300, cl»;arly inteiultHl to Imrrow to repay them. Since 18!>i th\v hi\'' l> 'en treiled as ordinary cxpenditnre, to he paid ont of revenue: hut, while I do not criticise that in 'thodol' treatina: it, they are just lis much repayment of a l<»an as the repayment of any l>art of our puhlic deht. We have rem liiiiii.^' on hand, as the proceeds of the last loan of 18!»G, a Fum of over ^l,<»i) ).()!M).0). I propose to provide lor the amounts which remain to h- piid hy way of return of these Gurantee Deposits by appro- priatiii!? the necessary amount out of tlie proceeds of our last loan. I h.'lie\'»i thit in S)doiiiy \v.! «oiisult Ih' best interests of the Troviiice and the wishes of the majority of thi; population, as il enables us to repeal the Traders' iind Manufacturers' Tjicenses and the tax on transfers of real estate. Had these latter taxes been continued, we could no doubt have continued to ^^ repay the deposits out ofiv^eiv^t^ As we propose^ to deal with the remain- ^x^^^^TT^ iiiy payments of these deposits, they will not in future appear as payable out of Jievenue. I estimate the ordinary revenue at !|4,116,100 42 And the ordinary expeiidHure at 4,042.900 02 Leaving a surplus of ordinary revenue over ordinarv expend- iture of . ..." _Jl^\?^?_i? The iofdl Exj^enditure exclusive of liailway Subsidit^s and re- payment of Railway Guarantee Deposits and inclusive of J<]xtraordinarv Expenditure and Avlmer Court House Fund is ' ." 4,118,404 02 ^Yhich stillleaves a surplus of # 2,70.') 40 We, of course, lose for the future the lievenue produced from the taxes on the transfers of real estate and from the Traders and Manufacturers' Licenses. The loss of the former was a serious loss, as I have already pointed out in my referenci! to the current year. It produced close upon iiJ200,000.00 a year, and had we continued to meet the payments of the return of the Kail way Guarantee Deposits out of Revenue for the short period remaining* during- which they were payable, we could hardly have felt justified in removing' the tax so soon. When it was imposed, however, the then admin- istration promised to remove it as soon as possible, and we have endeavored to redeem their pledge. The tax was felt indirectly by more than the mere vendors or purchas- ers of land. In the cities particularly, it was felt by builders, suppliers or builders' materials and artisans and laborers. It restricted the sale and re- 22 sale and .subdivision ot'large blocks oi' land which would othorwiso have been subdivided and built upon, and perhaps again sold. It was a neces- sary evil for the time, but we are none the less glad to repeal it, and I ven- lurt" to hope that its imposition may have the salutary ellect ol' impressing apon those who were sul)jecled to it the necessity lor economical adminis- tration, — and that the lesson may not be too quickly I'oigotten. The surplus of revi'uue over expi-nditure should })e augment(>d by the saving in interest charges which may be ellected by the proposed conversion of the Provincial debt, I do not intend to refer exce[)t bvielly to this subject which has so receiilly i>een fully discussed beibri' this House, but as I then stated, I ])elieve the annual saving* of interest should approximate s200,0C0. For the present, however, I must put the estimated expenditure for this charge at the amounts of interest which we are now paying. In connection with this subject, Sir, I can only repeat here what I said in thi- previous debate, that we will leave no greater legacy of debt to posterity, as (he, act which you have sanctioned compels the Government to provide a ^TUnnifitt: fund which will b^i sullicient. at the same rate of interest th;it tin; new securities bear, to extinguish the increased debt at the termination of the debt period. I have allowed for this, in making my calculation of the saving which should be effected. GROWN LAM).^. We have put the estimated revenue from Crown Lands ati|l,O67,700.0O and venture to hope it may excetjd this amount. The estimate for lsO,3-r»iJ was s; O^i^O.^O 00 The actual receipts for 18iij-;M) were 1.04r).:;iO 19 The receipts from the department for the iM'esent year would indicate no falling olf as compared with the corresponding period of last year and there is no reason why the revenue from our vast mitural ressources should not constantly increase. With careful administration and prudent develop- ment our woods, fisheries and lands are yearly becoming more sought after and appreciated. For the right of Hshing in our inland waters a consider- able Kevenue is now received One river alone which some years ago was leased for !^r)00.00 per annum now produces $6,200.00, and I think when the lease expires should command >$ 10,000. The Revenue from iisheries in 1 8S;3 (the first year after the confirmation of the rijrhts of the Province in inland waters by the judgment in the case of the Queen and Robertson), was $ 4 SOi> 00 For the past year it was 2o!82'8 00 The rights of the Provinces in these waters has been confirmed and amplified by a recent judgment of the Supreme Court. This latter judg- ment is of importance to us also as confirming' the rights of the Provinces 23 in the Ibro-shoros and water lots in navig'al)lc waters, which had been claimed by the Dominion. There may be those in Ihis House and out of it, who are piscatorially inclined and who may regret tht' former license with which they tempted the fish in our hdvtvs and rivers but I trust they will be patriotic enough to rejoice that we can make Iheir sport of some value to the Province. During the last year, on the 2*!th of May, iSflO. under the administra- tion of the Honorable Mr. Nantel, a sale was conducled of the right to cut limber upon 277 mil(\s of the vacant (^rown Lands situated on the Ui>p(n- Ottawa, Lower Ottawa, Sag'uenay. Rimouski, Bonaventure and Oaspe Ag'cncii^s These limits were sold by public competition without partiality or favor and adjudgtMl to the highest bidders. The amount realised as bonusses and first year's ground rents was ^70,371.98, indicating prices which have never before been ralised upon the sale by the Crown of timber limits in the Province of Qut^bec, the highest bonus being $950.00 l)er square mile. I Ihink Sir, that such prices compare favorably with any of those obtained by our sister I'rovince of Ontario, even in the sales effected by her in what was known as "the disputed t(MTitory " which since Confederation and until some five years ago, hadbeen claimed by the Ikmiiiiion and upon which licenses had be<'n granted by the Federal authovitii\s which wei'e thoroughly exploited and their resources known at the time of the sale by Ontario after the judgment of the I'rivy Council had handed the territory over to her. SUCC'ESSKIX DUTIES. "What I have said respecting Succession Duties, in referring to the cur- rent year, is equally applicable to the coming year. I think we may safely estimate the revenue for 1897 and 189X from this source at >;200,000.00. The Succession Duty Tax is now almost universally adopted by civilized states, and the history of its application is that it is a growing one. It is in the very nature of things that it should. As a country grows money will accumulate and fortunes increase. The modest competence of to-day was a fortune not so very many years ago, and as this is being constantly transmit- ted by death, the revenue of the state from this source must grow propor- tionately. Thei'e has l)een an increase in the estimates for Agriculture, Immigra- tion and Colonization over those tor the current year of i^o7,000.00, but there is no object to which money can be better devoted by a Government having at heart the development of the country and the welfare of its rural population. r>T,\BILITlES .\ND .VSSETS. I submit here an approximate statement of the liabilities and assets as of the 30th June, iy9(;, 1 24 ArrUOXIMATE STATEMENT nl' Liabilities and LIABILITIES. Fundi d Debt outstandiuff ... cts. Trust Deposits, Railway Company D>'posits to meet liuaran- teed interest on l)onds Outstaiulinff AVarrants. Kailway money subsidies authorized but not yet earned..." .")28,1S0 42 I Railway land subsidies converted into money! subsidies, authorized but not yet earned— | Balance on first 85 cts. per acre j 220,4i'7 72 Railway land .subsidies which may be com- vert 'd into money subsidies — 1 65,000 acres at 70 cts. per acre— 111."), 500. 00. First SSJ cts. per acre payable as work is done ' 57,750 00 Loss on Exchang-e Bank deposit Quebec Court House bonds ^ cts. .■Il,211,2.s2 08 272,724 04 723,051 Sd 17:5,122 2S .S12,:J5S U 25,218 75 200,000 00 $;!3,41 7,757 28 25 Assets of the rrovince of Quob;'C at -SOth June, 1S96. ASSETS. Part of Price Q. M. 0. & 0. Ry., deposited in Banks do do do do do do invested in $29,000 Prov-! inceof Qui'bec: Bonds, Loan of 1ST^^, bought at too p. c .... invested in Quel)ec ( 'onrt Iloiise Bonds.. invested in City of Quebec Bojids , I cts. 58,300 00 •1 .■; '1 31,010 00 200,000 00 15,000 00 Bahmc;' of price Q. M. 0. & 0. Railway unpaid 7,000,000 00 Railway f^rant under Dominion Act 47 Vic- toria, chapter S Cash in Banks Claim against Hon. Thomas McGreevy Cost of Jacques Carlier School, Montreal, to be repaid from sale of property Advances to various parties. Quebec Court House tax, under 4') Victoria, chapter liO, and 4S Victoria, chapter 16 Excess of Liabilities over Assets at 30th June, 1896 4 ^ cts. 7,600,000 00 2,394,000 00 7S4,799 49 100,000 00 6,153 60 176,457 89 200,000 00 11,261,410 98 22,150,346 30 83,417,757 28 26 This Stivtomoiil or Liabilities unci Assets at the 30lh June, ISOtl, shows the excess of liiil)ilities (.ver iissets (hat has been vedu<;ed during the yeuv by the sum of iJP.tilMiO.-J.TT. To the Fiiuded l)el)t has been added the amount of the de- bontuivs of th<' loan of May. 1890, issued and paid for iM'fove the.-JOth June *1,946,()(30 G7 And it has been diminished by the amount of the debentures of 185!0 redt-emed 80,786 00 The actual iiicreaH' beini»' therefore. |1. 865.880 01 The Trust Deposits have been increased by the sum of $11,865 52. The Temporary Loans, amounting to -J; 1,400.000.00 at the ])eginnino- of the year, have been paid in full. The Railwav (iuaianlee Deposits have been reduced l)y i};268.2U.3!». The liabilities for Ivailway Subsidies are >; 240,508. 11 less, than last year. The Out; tanding Warrants are i|36,37-5.68 less and the cash on hand !Si241,70G.12 more than at 30th June, 1805. THE LIAHU-ITIKS IN liESPECT OF THE SECOND 35 CENTS ON IJAILWAV SU15SIDIE.S There is, however, Sir, another item which does not appear in the above statement ot the liabilities of the Province and which I consider should appear since it is as much an ol)ligation, though perhaps not yet exi- gible, as any of those which have been named and one which the Province will one day be as surely called upon to pay, — I refer to the liability in connection with the second or deferred payment of :)5 cents per acre in respect of the land sul)sidies granted to Railway Corporations, and which have been converted into money under the authority of previous legislation. Permit me, Sir. to say a few words in explanation of the nature and origin of this liability, which must be dealt with and at once, if (he Province is to keep faith with its creditors and avoid a reproach which has never yet been cast upon Inn- of repudiating or resisting the payment of her just debts. By different legislative eiuictments, large grants of land have heen made to Railway Companies, the principal grants being authorized by the Acts 45 Vic, cap. 23 (1882), 51-2 Vic, cap. 91 (1888), and 54 Vic., cap. 88 (1890). 27 By the lirst named of these stalules, as amoiidrd by 40-oO Vic, cap. 77 (18partment of Crown Irands, and subject to which " the said subsidy shall apply, as the Lieutenant-dovernor in Council may '• think proper to establish, provided that the companies entitled to any -' land subsidy shall declare their option, within the delay of two years " alter th(! passing- of this act, in favor of the said conversion of the said " subsidy, by a resolution of their board of directors duly communicated to " the Government through the Commissioner of Agriculture and Public " Works." It will thus be seen, 1st : that the land subsidies were to be allotted as much as i)ossible in alternate sections along- the line to the roads which they were designed to benefit, and, 2jid, that the grants contemplated an allot- ment of definite sections of the Crown domain, as i)r()vision is made for retaining, till the lands are sold, the Crown's rights to license the cut- ting of timber, and for the acquisition by the companies, on certain con- ditions of any minerals which might be discovered upon the lands allotted. It would appear also almost self-evident that whether a company thus subsidized should avail themselves of the privilege of converting their land into money or not, it was entitled to know where the land was situated which had been given to it. If the conversion were effected, it would be impossible for it to know when it was entitled to receive the second 3r> cents of the 70 cents per acre unless the lands were surveyed and allotted. Tlie aggregate amount of these land grants which have not lapsed is, to-day, 9,251,408 acres, in respect of which th(^ companies have declared their option of conversion into money, and 1()5,000 which are possible of conversion. Of these, 4,52!t,460 acres were fjranted prior to ls87, and 4,514,008 between 1887 and 1892, • ' 28 The balances in respect of the first oo cents which remain payable on these I hav(( already i^iven. The second thirty five cents would amount for those already converted, to ^:].28S,013 Oo And on what remains as possible to be converted .')7,7">0 00 This is undoubtedly a serious lial)ility but it must lie dealt with. Tt appears in the Public Accounts in connection with the statement of sub- sidies. The Kailway Companies are demanding- to know the location of their lands, To survey them will cost close upon a million of dollars. Even if surveyed the Province cannot rc([uire Ihem to lake the lands. It will, it is true, only have to pay the amount when the lands are sold, but when sold the price uj) to :3o cents per acre must be i)aid to the companies, and if allotted, the existi>nce of this claim upon a con.^der- able portion of the public domain cannot fail to b(> an embarrassing one. To allow the claim to stand unsettled is to perpetuate a burden on the Province which will be fell more heavily as time passes and the country becomes more settled. If all these lands were sold at an average rate barely sufficient to pay the 85 cents, tht^y would realize !s3,20'>.7(!0.0">, all of which would be paid to th(> companies, and the country would be out of pocket the cost of the survey. If the claim is dealt wMtli now an and hone.-t that tht^ matter should be disposed of, and this Government, as announced by tlu' Speech from the Throne, and l»y the resolutions which have bei'U siibmitted to this Mouse, propose to dispose of it if they can do so upon terms which they think will be advantageous to the Province, leaving in view the inter»>st and welfare of luture generations as well as our own. The settlement will undoubtedly tmtail the payment of an additional amount of interest ui^on such securities as we may have to issue to provide lor it, the exact amount of which it is. of cours(\ dillicult to predict. The proposed authority which will be asked for limits the amount which may })e given in s.'ttlement to lifty per cent, of the claim, but it is to be hoped that much less than Jifty per cent of the whole claims will be required to dispose of this liability. At all events the annual charge for interest in this respi^ct, added to our other expenditures, will not exceed our revenue, it our anticipations as to the latter are realised. The details of the ciuestion w ill be more fully dealt with doubtless by the Honourable Premier, in connection with the bill, by which we a^^k for authority to make th > settleraLUit, but I have deemi>d it necessary to say this miich in connection with the liabilities of the Province. 20 ELEMEMTATvY SCHOOLS. Tho proposed aid to Elcmontary Schools will tMitail a ct^rtaiii expense also ui)oii I ho Province, but one which 1 tiiink no oiio on cithiM- side of politics should ii'iudiio. Wc propose to in evtMV^resourct^ to encourai^e elementary »>ducation, and money which is pent in the education ot the youth of the country will be repaid a hundredibld Our estimates ol" receipts, we feel sure, will justify the exp^M\diture of considerable sums for the beneiit of the comim»- n-eneration. We propose, from the vast extent of our public lauds to consecrate to this purpose fifteen hundred thousand acres, the proceeds from which shall h>i set astions of law, both Quebec and Ontario have ajipealed to the Supn me Court, Ontario, on the ground taken by it that there is no liability on the part of that Province in r.-spect of the Common School Fund or lands, and Quebec on the ground always maintained by it that no deduction from the Fund should l)e made for the Upper (^anada Improve- ment Fund. This appeal has been lixed to be heard in February next. 80 Awards havo been made by the Arbitrators in rrspcct of Indian claims ill which tliis Trovince was interested, which were mentioned in hvst year's ^reniorandum as not having' been aruued. By these awards the chiiui on l)eliall'or the Chippewas oi' the Thames and Wyandotte Indians for >ii;:!O,()00 and interest was dismissed, and the chiim on behalf oi' the Mi.ssasag-uas ot ]\ice and .Scugog Lakes against the late I'rovince of Canada for i^o/.i^O.OO was allowed with interest from 1st July, 18(17. In the Robinson Tr.'ati 's Indian.s' claims case, the appeal ol' Ontario against the unanimous award of the Arbitrators of the 18th February, IM'.'), in respect of the joint liability of (^U(d)ec for any claims that might be ap- proved, was sustained l)y th • Supreme Court, two judges of the five who heard th • case having dissented from the judgment. Api^^ils from this judu'- m '111 w.'re taken to the Judicial Committi-e of thi> Privy Council l)y th(> Do- minion and (^u 'b c. At the last moment, b'fore the time fix 'd lor hearing the appeal, the Dominion Government which, from ihe incption of the case, had, as regards the liability ol' C^u 'bee, taken the same ground as the Government of this Province, decided not to send any Counsel from ( 'an- ada to argue their appeal. It was therefore deemed advisable by this Gov- ernment, in view of the large amount d(*pending' on the result, and also in view of the fact that four Counsel were engaged in the apjx-al on behalf of (Ontario, to send th*' Honourable A. li. Angers to appear as ( Vnmsel \\\\h. the Honourable J. S. Hall, for this Province. The case was argued on the. 11th and 12th November ultimo. No judgment has -ii.s yi't l),'cn rendered. Whatev -r that judg-m 'nt may 1),', the cas." will have to go before the Arbitrators ag'ain for the determination of the amounts, if any, which the Indians are entitled to under the Tin aties, and as th .s.' involv<' the ascer- tainment of the numberof ihe Indians entitled to annuities since js.io, and of the revenue from the ceded territory since l hat dat', there is still a i>ood d^al of work to be done. Very considerable progress has, however, been made in obtaining' the required information. In proceeding- with the statement of the accounts, on the principles determined by the Arbitrators, the Hon. Mr. lios,to\vii with our growth. In 180^ this item amounted to !B;!t7,!l40.oy, and hist year ii^28a.000. Now, Sir, at Conredcration the rights to collect revenue from customs duties and excise were abandoned by the Provinces and vested in the Dominion. Tiiis v/as of course a cession of two i)rincii)al sources of revenue a loss which was supposed to be com[)ensated for l)y the subsidy urauted to the J^rovinces in return. But this subsidy wasiixed. It was determined to be an amount equal to 80 cents per ctipita uii the population as it was in 18(!1. That i)opulatiou has of course increased and we hope will keep on increasint^. As it increases the revenues derived by the Dominion from customs duties and excist; must also increase, but the sub, last session of the presi-nt Legislature, and before these walls again see an Assembly gathered within them, the people will have spoken and declared their opin- ion as between the two political parties and the principles which they repre- sent. I trust, Sir, and believe that the principles which govern the graiul Conservative party will triumph. I believe that the record of our advcM- saries is too fresh in the minds of the electorate ibr them to be able to eliace it by criticism of isolated act of the administration of this Government or of its predecessors since 1892. Sir, L believe in this country, in its resources, its wealth and its possi- bilities, I never leave its bounds that I do not give thanks on my return for the magnificent heritage which Providence has bestowed upon us. I believ^e too in the possibilities and future of our own Province. If we con- template the richness of our soil, the wealth of our forests, the resources of 33 ouv mines and fislu'rios, we cannot conccdo lo any otlior tho title ol" tlie Trcmicr Provinf'O ol' the Houiinion. Our imlustrit^s iir.' li-rowinii" and ex- tondiii!^. our ai^ricultural products are incroasinuf and daily becoming' better known and liiidinu;' new nuukels outside even ol" the Dominion ils.df, our l)0|>ulati()n is law-abiding- and industrious: we are not thrt'aloiied willi armed invasion or distracted with questions which trouble older 8tat(>s, and even some ol' our P"iyl)ours, who call themselves ouv su- periora in wealth and development. AVe may l)e divided l)y party lines, that is an inevitable consequence ol' coiisi ilulioiial i^-overnment. but I trust, Sir, the day may never come when we will be divided on unrounds of race or reli^-ion. We are one p.'ople. tmjoyiu'j;' a common heritage, and our aims and desires should b ■ to im[)rove and d(!Velop (hit herita^v', and to hand it to our successors and descendants improved, enlar!>'.'d and made better to live in. The spirit of party should l)e (>xcluded from such ([ues- tions a.s l)enelil the people and im[n'ove their condition, and I trust that whatever i)arly may be in power, its ri4')reHeutatives in the Executive Council may never lose siuht ol' the i'aet that they are simply the mandataries ol' the people, bound by every tie of honor, loyalty and patriotism to administer hoii.jstly the trust reposed in them, We are asking this House, Sir. to vote the supplies to Fler Majtisty, for what will be the sixtydirst year of Her KV'iii'n. a reie-u glorious in the annidsof the history of any country, Thecommencement of that reign saw this country i)lunged in a strungle for con-;titutioual liberty, a struggle which has result. nl in the principle of constitutional g->verume;it bnng accorded to the l>riiish N"orth American Provinces, and the establish- ment of the Confederation, which is now the Dominion of Canada, Her Majesty has, today, I venture to hope, no more loyal subjects than the in- habitants of this Province, many of them descendants of those who were in arms at the commencement of ller Ueign in behalf of the constitutional privileges which we now enjoy. We freely and equally enjoy the privilege of ijritish sulijects, and from whatever race or nationality wN' are sprung, can point with pride lo the fact that within the period of the Sovcn-eign's reign, wa have wm-ked out our own destiny, have established lirmly our institutions and our laws, and are an important factor in the greatest empire the world has ever known, while being practically independent in all that relates to our Government. Sir, I do now move that you leave the Chair, and that this House do go into Committe of Supply. d4 STATEMKNT A Year. riiyinciils. Rcceiptss. Delicit. •1881)-90 $4,969,489.68 $8.58H.920.5O !i!!l,3H(),509.18 18!^0-91 5,195.0411.43 3,750,813.34 1,444,235.09 1891-92 5.236,7(;s.62 3,494,117.00 1,742,051.02 1892-93 4,492,106.21 4,467,278.21 24,828.00 1893-94 4,550,629.50 4,320.427.22 230,202.28 1894-95 4,506.633.31 4,343,971.65 162,661.66 1895-96 4,415,268.52 4,359,594.91 55,673.61 III this table the receipts of 1890-91 include tho sura of !i^27 8,520.00 of railway guarantee deposits. Without that, the deficit would have been $1,722,756.09. The amounts included in receipts,(oming from new sources of revenue created in 1892, are as follows : 1892-93 ^493.591 16 1893-94 5lj^^40G H 1894-95 487,398 45 1895-96 444,856 02 PAYMENTS : 8« STATEMExNT IJ Ordinary Expenditure, (including ii^(;2,13n.!»r) lor Bonds oi" Loan of 1880, redeemed) |:3,HK1,(172 lt5 Special Expendilure 818,583 51 Advances and rayments of Trunt Funds 14.103 !»8 Repay Jiient — Railway Guarantee Do- l)()sit,s 255,069 24 RECEIPTS: Ordinary Revenue #3,540,007 07 Receipts from sales of pro- perty #30,000 00 Trust Funds, Deposits and Receipts on advances... 18,313 43 48,313 43 14,000,480 68 3,588,920 50 PAYMENTS Deficit 11,380,569 18 Ordinary Expenditure (including $64,970 for Bonds of Loan of f880, redeemed) #4,005,520 45 Special Expenditure 820,254 15 Repayment — Railway Guarantee De- posits 222,097 41 Advances and Payments of Trust Funds 57,177 42 RECEIPTS : Ordinary Revenue #3,457,144 32 Trust Fund8,Depositsand Receipts on advances... 15,149 02 Railway Guarantee De- posits 278,520 00 293,669 02 5,105,040 43 3,750,813 34 Deficit 11,444,236 09 36 PAYMENTS : Ordinary Expoiulitiiro (iiielmlino- !s68,- 12 1. K) I'or Bonds of Loan of 1880, redeem(Hl) ii:;4,44(),630 ()0 Special JjlxptMidituro ;j51.041 88 Payments of Trusl Funds 8,017 00 Repayment —liaihvav (Jruaraiitee De- posits ' 281,070 14 $r),23G.7G8()2 RECEIPTS Ordinary Revenue iB8,4o8,403 85 Trust Funds. Deposits and Receipts on Advances 19.723 87 Refunds on Special Expenditure 8,870 38 Tax on Railway Subsidies 7.110 oO PAYMENTS 8,494,117 60 Deficit 6:1,742,65^ 02 I.SUJ-JK8. Ordinary Expenditure (iMcludina' $71,053.38 for Uonds of Loan of 1880. redeemed).. s8.952,258 75 Extraordinary Expenditure (Public lUiildinu's) 238^264 10 Payments on Trust Deposits 1 3, 1 47 . 08 Loans to Sulierers by Wind Storms 4^,080 89 Repayment — Railway Guarantee Deposits , 240,405 39 .iM92,l06 21 RElTillPTS : Ordinary Revenue $3,891,062 73 do New Taxes... 408,591 75 Receipts from Sales of Property 7,116 00 Trust Fund Deposits .. 15,770 87 Receipts on Advances.. 50,000 00 Tax on Railway Sub- sidies 9,737 36 •14,384,654 48 82,628 73 4,467,278 21 ^2liT) ' 990,93" 07 174,910 10 18,1114 (!5' 21,772 48 10,H8H :i4 8,175 15' 2,0:)7 OOi 1,949 88' l.OOO 00 17X 97; 1893-94. _S t' • i,278,:;70 11 905,10:! or, 184,215 00 18,000 05 24.590 40 11.495 70 8,122 71 ,2,:U2 281 4.370 99' 10,200 00 ISO (iO 10 25 1894-05. _S c 1.277,799 42 800 0;?2 10 187, ;U4 00 58,;i71 00 41,579 20 • 12,100 84 9,:J22 05 3,353 28 4,500 47 2,400 OOl 192 15; 20 00 : 1895-90. _$ «'. 1,231,798 5'9 1,015,310 10 180,278 50 158 05 500 21 580,206 14' 1.39,436 39 54 00 149 02 449 27 007,989 33 137,937 88 9,983 27; 490 35j 5,440 08 s,o:« 21 105 39 11 40 . 24.:!51 20 1,991 10 8,309 21; 440 80 702 17; 8,017 29 122 07 10,755 27 1,104 38 75 08^ '2i,"20:V'43i 3,870 20 I 7,357 ru\'- 530 55 924 10 250 70 433 85: 672,757 91' I 138,925 71: 292,001 06 15,607 04i 145,0118 87! 40,313 59: 9,805 57 357 60: 10,287 72 i 24,758 90 1.778 01 i 77 641 25,813 60 9,059 93I 7,:)48 20; 430 00' 1,743 17 340 40 450 03 036,052 34 142,85 4 60 216, SOI) 50 15,29:! 106,428 149,82;! 14,765 180 9() 8,236 27 1,S.955 06 ■407 49 2,289 00 20,774 41 5,870 13 7.125 49 70 45 46 37, 130 40 541 22 60,>,918 78 160,750 16 185,870 70 17,059 29 121,932 96 162,535 50 7.347 79 ■307 79 0,008 59 21,697 13 151 15 5,688 51 21,835 47 6,114 02 6,077 96 32.357 11 2,884 44! 367,908 07 44,538 81 674 02 370.140 58, 4H.07;i 18 1,168 52 368,130 06 10,841 91 30,587 14 3,457,144 32 3,468,403 85 ; 46,720 96 I 100 00 18,407 40 520 84 429 16 1,878 63 1,002 60 510 00 516 00 20,438 87 23,095 38 7,046 19 3,949 30 :!09,O22 58 308,;i27 96 11,539 90 5,682 42 10,22:1 82 24,180 38 680 00 220 GO 480 40 489 40 4,384,064 48| 7,116 00; 4,258,728 50 1,805 05 2,500 00' 4i758 66| 140 :iOi 11,321 29: 1,001 5I| 145 07! 50,000 OOl. 4,691 91] . 149 46 6,750 00! 1,000 00. 6,696 00 500 00 7,476 00 3,453 00 5,675 50 9,7.17 36 Repayments of Advances Teacners' Pension Fund City of Hull Sinking Fund Poiate !i Gatincau Sinking Fund Council of Agriculture Heirs and Estate F. E. Roy Marriage License Fund Security Deposits, Public Officers Deposit, St. fjnwrcnre Fire Ins Co , Aylmer Court House Fund Deposit/;; /v Julie Labbe .... Reimbursement Railway Subsidies Fnnd...| Railway (Jnarantee Deposit i 278,620 00 Arts and Manufactures Building Municipal Loan Fund : Refunds, Special Exjienditure do Q. M. 0. Ac O. Railw.iy, &c 3,75ii.8T:r34 Ti,494,117 00 Temporary Loans 2,223,333 ;!3 1,400,000 oo! 1,150,000 00 Proceeds Loan of I.89I ...' 3,707,530 00 do 1893 do 1894, (London) do do (Paris) Redemption Loan 1876, (Refund) Proceeds Loan 1896, (On account) Cash on hand at 1st July of each year..., 4,221,687 100,:i40 153 99 1,288 90 3,000 00! 4,581 48! 1,444 00! 7,470 00; 1,994 38; 6,550 00 202 22 158 63 100 00 280 00 1,584 00 7,218 00 500 00 42 70 600 00; 49,7:^2 48' 6,341 68 61 23,828 M.;!29 11,:I22 1 40 34 00 4,381 91 2,374 59 13,000 00 42 01 10 00 147 50 41.3 41 603,087 40 148,043 86 184,254 50 17,507 07 9,728 3:1 67 44 51 69 163,365 8, 1 25 165 11,491 35,005 78 00 12,360 76 23,182 60 4,880 85 0,028 77 400 00 1,063 60 492 00 17,437 79 29 00 3.33,067 98 "21,897 si 200 00 244 70 4,327,910 5a 7,789 57 103 40 100 00 S80 60 7,221 00 1,608 17 10,000 00 3,285 02 4,467,278 21: f)25,344 43; 471,852 59 0,499,491 10 9,07:{,6 00 19 1,331, 8,55 2 0,949", 133 60 4,320,427 221 870,000 OOi 4,:(43,971 05i 4,358,868 81 2,400,000 00 3,800,073 34 2,742,07C) 73 305,,S35 91 12,l57,«3a 20 2,723 27 4,106,301 52 300,000 00 646, 732 00 TT,469,818"44 736 10 2,044,000 00 543,033 37 7,246,028 28 40 STATiilMENT I) EXPENDITURE. 1, son -01. 1 1891-92. SJ,4;i8,44:! 62 282,201 OJ 2(5G,;'.2t 19 1892-9:!. 1.><03-9I. 1 1891.95 1 1895-90. Public Debt ...... Legislation Civil Govci'iinic'iit iSl,2ri,.'i9(> :i3 281,078 74 2G'.i,0(llt 07 079, OOC. 18 102, KM) :!4 24.), 028 89 l;l!i,OI2 s:! .$1,445,031 34 199,709 81 251 908 20 ' .SI, 437,932 07 207,07(5 77 55(5 r"5 ^-l §1,180,000 02 198,543 50 251,250 31 008,:!27 29 ;;83,720 15 290, 0.30 02 110,257 32 152,190 01 32:1,(147 25 300,772 81 $1,197,120 99 195,549 27 25:1, 101 09 Aclmiiiistmtiou of Justicp... Public Iiistniclion (501,788 18 415,482 11 58:1,400 0(i 548,038 05 SS.I <.)(iO 00 .S.SO.TOO 00 508,514 28 382,759 70 Agricultiiro. Coloniziition find [niiui"Talion ;i05,102 71 '-»(ll.?,98 17 242.801 01 280,814 09 Pubiic\Vork3andI!niIdin(r.s : Ordinaty Extraordinnrv 152, 90:! 17 1 104,528 88 , 101,0:)7 80 238 204 10 1 :i90.9."i5 9i 07,54 1 01 58,185 31 Asylums and (^'liiiritie.s Miap^llaiieous (iiiclinlin^ ifiyments by Uevciiuu (>f- ;iccrs out of (Jolk'ctioiis).. Special J?xii('n(lituru 31(5,872 f.fi 400,048 41 820,2;-)4 10 $1,915,774 fid 222,097 41 4.".. 7(50 00 i;5.417 42 ■ 422,081 59 471,019 :{9 551,011 88 355,725 00 425,597 70 325, 0S2 00 370,874 23 320,078 25 433,099 G-t Repayment RuiUvay (Jiiar- antee Deposits.. Advances .... 4.997,081 48 2:il,070 14 4,190,522 85 ; 240,4l'-'i 39 48,030 80 4,207,04(5 07 250,117 25 19,:i95 00 13,081 78 88 80 4,105,727 41 200,223 01 30,550 00 17,390 20 2,742 00 4,090,707 00 20 '5, 2 11 39 Trust Funds Reimbursement I! ail way Subsidies Fund. Costs of Collection and Refunds... 8,017 00 1 13,147 08 17,450 02 29.801 11 Railway Subsidies and Q. M. 0". & 0. Railway $.'i,19,j,0l9 4:5 9j,^,(i20 20 *0,150,G(;9 09 5,230,708 02 750,9(58 42 4,492,100 21 4,550,029 50 850,455 09 975,420 (50 4,500,(53:! 31 851,519 02 ■1,115,208 52 250,180 59 Temporary Loans re]>aid 5,987,7:17 1 2,07.3,3;i:i ;!:! 5,342,501 30 5,520,050 19 1 000 000 00 '.>.070.000 (M) 5,301,15;! 23 1,500,000 00 4,005,455 11 1,700,000 00 Redemption of debt : Loan of 1891 3,800,000 00 do ISiHl • 4,10(5,101 00 11,450,050 10 313,811 81 Add: Payment of Warrants outatandintjf at I'.otli June, 1890, isitj, l8;i:', 189;!, 1894, 189,> $0, 1,^^0,009 00 112,571 45 8,0(51,070 ;!" 2:55,002 (5.3 0,342,501 30 555,028 10 10,907,011 23 158,00(5 80 <•>, I2,i, 155 11 209,495 90 Deduct : CJnpaid Warrants outstanding at ."Htli .June, 1.891, 18!I2, 189:i, 1S9), 189:>, 189(5 ■? 0,20;!, 24 1 14 2;t5,Gn2 0,T 8,2!»(S,073 00 555,028 10 0,807,589 40 313,811 81 11,709,808 00 158,000 80 11,120,281 03 209,495 90 0,031,951 07 173,122 28 §0,027,038 51 7,741,044 90 0,583,777 59 11,011,201 20 10,91(5,785 07 0,401,828 79 ■• 1 -y ■ . .r -S h: ■ '■ .■ -