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Les diagrammes suivants illustrent la mdthode. 1 2 3 1 2 3 4 5 6 FACTS FOR THE PEOPLE. Charaotar and Composition of the Dominion Debt. A FEW aONVINOINQ OOMPABISOITS. What hai ba«n Doae with th« Von«y Sprafr- Htw Dtfloit Diok RegotUttd Loam. It is made a charge agaiuBt the Qovern- meiit that they hare aaneceasarily and extra- Tttgautly iDcrcMed the public debt, and thus enormously added to the ^urden8 of the people. Here are a few tactd on this point : — At the time of Confederation the Central 'Guvernment assumed the debts of the prov- iQceg which, at that time, ontered the con- federaoy. Bach provincie which btts since ijien created or brought into the Dominion has brouKbt with it or been allowed a fixed «een BANOTIOMID BT TBI PIOPLI at several general elections. In the light of these obliKations the iaorease in the pnblio debt is not only ear.ily explained, but is com- plotely Justified, The Public Accounts of 1886-6 have not yet been publiHbed, but Mr. Dlabe has made a calculation showing that the net public debt is now ^220,000, 000. That may be assumed as correct for the pur- puses of this statement. Here, then, is an analysis of the debt i— ANAiiTaia or thb debt. Net debt na staled by Hon. Mr. Biiiicu.... 4iau,uuu,uiio Oedm^t provlnrinl debts asinraed by I tie Donitninn Uovoriimeat auder tlio (Jiiloit act, 1807, aud subHcquoiit ailjusimeuu lOT.OOU.OUO And there remains aa strlotly Federal debt luereMe iluoe lna7 fl l>.OOO|0OO Hu that the Bet Increase of the public debt conuecied with the obligations assumed by the people of CaDa('k as a condition of Gon^ fedeiation, is fUS,000,«00. Xew, there has been spent on the Canadian Pacifie railway, including the final exchange of money for lands returned, and upon the Intercolonial railway, with its necessary connections and terminal facilit'.ss, t.he sum of $103,000,000. The payments to the PaeiQc railway were in the exact tr.rms of the con' %tt of 1881, which xras 8anct:oned by the pe'. ■ at the elections of 1882, with the exeepti. it $1 A, 000, 000 more in cash, and about 7,0l)i/,u09 aeres less in land has been given as a condition of the completioB of the railway five years before the time fixed by the contract. We have thus TBI WBOLC INORIASI AOOuOMTlD VOB except $10,000,000, and that is more than accounted for by the Cartwright deficits, the I > shaves" on the Cartwright loans and the purcbase money of the Northwest Territories. Here is a statement on that head : — Net debt $220,000,000 made up as follows ; — Provluoial debts assumed by the Domlulon $107,000,000 Moneys expended on rail ways 1U!I,U()0,( 00 Money for purcbase Northwest. . 1 ,500,000 Sir Kleliard t;arlwrlght'8 deficits. *, 600,000 Blr KlcUard Can Wright's losses on loans obtained 4.800,000 (220,800,000 That leaves all the expenditures on the canals, on the improvements in lighting the lakes and the St. Lawrence, the erection of public buildings in various parts ot the Do m'nion, the subsidies to branch railways, all met without one dollar of incraaee to the pub- lic debt. The extent of 'his expenditure will appear from the following taken from the public records submitted to Parliament, and not, including, therefore, the expenditure of the last year : — Canals $28,643,1178 lilgbt bouNes and navigation 8,2H4,ettu Oovernment buildings atid miscel- laneous publlo works 13, 147, SI 8 Total $10,976,276 !io that there has been expended on theite public work", in excess ol additions to the public debt, the large sum of fifty millions of dollars. It is a mistttke to treat this debt as if it was a mortgage upon a farm, the principal of which had to be paid. In 1885 bume thirty millions of dollars of our debt fell due. It bore 6 per cent, interest. Sir Leonard Tilley went to England and procured its re- newal for another thirty years at 4 per cent., so that the debt falling due, instead of being an embarrassment, has resulted in an im - portant reduction of ann^.al expenditure for the country. The measure of the burden of the debt is TBI AXMDAL UlTIRISt OHARM. The net interest per head af the population hi 1868 was 91.2'J. In 1873, thn end of the first Conservative term, it was $1.31, an in- crease of two cents p«i^ bead. In 1878, the end cf the clear Qrit term, it had risen to f 1.68, an increase af twenty-seven cents per head, in spite of the flMtt that th« Markennie Uoverument left no public works com- pleted to mark the nra of their administration I And, aasaming the aet debt at S220,000,««0. as Mr. Blake pnta It, the laterest per tiead is now 91 63, aa inareaie in eight years of S cents per head, with the canal ealargement completed, the Canadian Pacific railway finished and already develop- ing an enormoui trade, and large additions in ttie fofin of branch lines end increased t«r- mlnal iacUMes made to the Intercolonial MkUwayl the simple question which the elector has to put to hlinsflf in connection with this increase In the pnblio debt is this i Is tbA completion of the Canadian Pacific railway, with all the incidental advantages connected wit'a it, worth an additional tax of S cents per head of the population of the Do- minion T There can be no doubt aboct the aniwer that will be given to that question. AB AH OrrSIT TO TBIS MOBIAB.I ^ it may be stated that applying the rates od passengers and freight charged by the rail- ways in 1876, to the traffir now carried, it will be found that tte ;people are saving f 12,009,000 a year — which is very much mere than the interest upon the gross public debt of Canada — as the result cf the enlarged rail- way facllitiee and increased competition pro- duced by the policy of the Government. The best proof that the expenditurbs made by the Government, and which have resulted in the increase of the debt of Canada, have been wise expenditures is shown by the rlNAKOIAI. BTAIDIMe OF TBI DOMUCOll in the money markets of the world. Sir Bii'hard Cartwright put 4 per cent, loans on the narket in 1874 and in 1876, for the ag- gregate sum of $31,633,333. Ho re- alized for Ihfni $'W.aa'l,7?n, thus suffering a "shave" of $3,668 b63, or 11.28 per cent. Sir Leonard Tilley in 1886 exchanged i per cants for 4's, which was equivalent to putting a loan on the mar- l:et lor the sum of $31,356,695, and he rtaliztd $30,930,651, a >< sliave " of $426,- 944, or 1.36 per cent. Sir Leonard Tilley put a special loan on the market in 1886 for the same amount as Sir Richard Cartwright' 8 loan of 1874, namely, $19,4?S,666. The Cartwright loan, alter paying all charge8,only realised withia $C,208,329 ef par- the di«- oouBt, therefore, being 11,34 per cent. The Tilley loan realiaed within $140,443, the dis- count, after deducting charges, being but seven-tenths of 1 per cent ; and to-day Can- adian securities in England sell in the open market at 13 per cent, higher than during Sjir Richard Cartwright's administratioa of the finances. But on MOkl COMPARIBOII may be made. The Conservative party bar been iu power since Confederation — fifteen years, and the Lilrarals flvf. Here is a com- parative statement of the increase of the p3b- lie debt during the periods of the two parties respectively ; Xnoreaae strlotly Federal debt. . . . $113,000,000 Increase Urlt period, 1674-78, 6 yearH 40,200,000 Increase Llberal-Couserval.ve periods, 1808-73, 1878-80, IS years 72 ,809,000 Average Increase per annnm, QFit period 8,000.000 Average t ucreaae per annum, Ll- berar-Oonservatl ve 4,800,000 It mast be remembered that the apparently rapid increase daring the last five years is due to the feet that the oonstmction of the Cana- dian Pnclflo railway has been crowded into five years Inatead ef ten, aa was provided by the contract. No business man will say that the advantage to Canada of the early constrBction of the rMlway doe4 not im measurably more than compensate for this increase. The largo undertaklugc are now completed, and the next five yean, it may, fairly be aaiumed, will witneaa no fart> /ri material iucreaseof the publ'o debt. W) C)0