'NV \\
*„ *- V- I — v V' - ' "^f
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I ^
^ITN OVtn , "3 oV>
>>
O.N TllK
Financial Operations of the Three Years since Conrederation.
In th(> CoiTiinitt<>(» on Public Ai'onunts l«sf Session, thero was some disf-nssioi; as to
tilt' proprioty ol' so romodd.inu' oiir stateiniMit of liiM'cipts and ICxpi-nditur", ko as to
distinguish the ordinary from the extraordinary. I then exprcsswl an opinion, whi<di I
liave setMi no roason to alter, that aiiy such distinction <'annot i)roi)crly 1)(> made a matter
of account. There is a I)road dillerence between KeceiiUs and I'^xpeiiditure, which are
authorized l»y Parliament to belon? to Capital, and those which apiiertain to
Consolidated Fund, or in other words are applicable to, or eharirenble airainst Income.
Ihit no rule can be laid down to distiniruish between ordinary and extraordinary T(e<'eipts
and I'lxpenditure. In almost every year some extraordinarv items will occur, and it
depends altoirether ixpon their maiynitude whether it is worth while to take any notice
of them at all. No one, for instance, would think of keeping' a separate account of the
uain or lo.ss we may make in rreminm discount and Kxi'liamre in the minor movements
which are every year takinpf place in Loans, Redemptions and Investments • tmt if we happen — t-r~
to contract a larije loan these items may assume important dimensiims : and who is to '^
determine the limit l)efore and alter which they are to be deidt with ililferently. Sf> also
if a small debtor, like the Northern Railway, falls behind for a year .or two in its interest, and
then pa\s up its arrears, thi' case is distinyuisbable onlv in ils niaunitnde from the similar
oi.'curreiice with iiie (ireat We.stiM-n. l)r we may have an extraordinary expenditure of
'■W to ^40,(H)0 for I'^misrration and Quarantine, if a sickly season should occur: or (»ne of
ten times the amount in conse(]uence of a l'"enian raid, nr the decennial occurreni-e of
llie Census. None of tlie.se liiin^rs <'au proi»erly be said to belun;; t'l Capital, but which
of them are of sullicient importance to be specially classed as extraordinary is a matter of
discretion, on which liardh any two men would auree. aiul nothinir ouffht to bi- lelt to
discveiion in book-keepin;;'. .*»nch items may very i)roperly be made a matter of comment
in the rejiort of the Hoard of Audit, and no ]>rndent Minister of l''inaiice wonhl leave them
out of account, if of any mauiiitnde. in basinnr his linancial arransemenls for one year on
the experieiK'c (d' another. Hi- iiiiu'ht even be compelled to contract a temporary loan to
cover a casual deliciciii'y in the licvenues of Cunsulidated l''iind to meet tin' charireh
auniinst it, as he is authorized to d" by :!1 \ie. Cap, 4 Sei'. 4 ; and ^ll(■h casual loans niiirht
verv projierly be ke]>t distinct IV'Hii the mdinary debt, and the redem|ilioii of tlo'in be
made a chnriir iiiiiiiiisl Cnnsolidated l'"uiid in more lavorable years : but until Parliament has
pioiKiumecl ii|i(in the subject, I do not see how any chanL'"' can be made in the methcMl of
ciiterins'' siu'li transaciiiiiis in the books. Mvervthiiiir, wliii'h has not been s|)ecially atilhor-
izcd to be considered Capital, must be credited or charycd to Couscdidated Fund, and the
ciinnire in the bali.nce of that Fund from year to year, will shew whether the income has bet>n
in excess, or has fallen short of. tin- charyi's auainst it. For these reasons 1 pro])ose, unless I
receive yoiir inslriK dons to the <'ontrary, to brinir out the statement of Receipts and
Expenditure in the sam« form an in the last year's Pnblii" Accounts, shewinir tho»e of
( 'onsoliilati'd l'"uinl se)>arati' I'rcn those a|>plicable to o|ien ai-counts. l>\it not takin<T upon
mvself to mak'' iinv other dislinetion between oitlinarv ami •■xlraordinarx items.
\
1
This (lifRciKty is in a iri'eat rhoasurt? rpinov«>d, if wo t«ke Rcveral years to<r«'ther, rs
the pxtruordiiiary items in ilid'crcnt years tend to conntr Jjalance each other. I have,
therefore, jrj.-.'a three statements from whieh the linancial proirress of the country, since
Confederation may be judged of, with a comi>urison between their results.
I. A statemimt shewini; the excess of receipts of Consolidated Fund over the t'X]>en-
diture in each year. In this statement I have given the amounts as they stand in tlie
Public Accounts, without takinff into ron''!deration whether some §40, (MK) charged asainsl
I'ublic Works Capital in the lirst two years should not. i)erhaps, in accordance with the
distinction drawn in the estimates of last year, have l)een more properly charged to
Consolidatc>d Fund: and I have mad>' no chanfre in the manner of dealintr with the
IVemiitms on the Intercolonial Loan, and the arrears of ihe (ireat Western interest, to
which exception was taken last year. These were certaiidy extraordinary receipts, but if,
upon that srronnd, some jmrtions of them were dcdu'ted Irom the receipts of the year, the
whole amount certainly .should not be so deducted If l»t>>< and IWJ have not cr 'dit
given to them for all the arrears of the Great Westi^m interest, they musi at least huve it
for the amounts falling due in them, which even on ourjiresent reduced settlement would
have been !5;221,4")8.72 ; and similarly they would be entitled to credit for the profit on a
35 years' loan ttccruing in the three years under consideration, which would be *:il,'2H4.ST,
leaving only l^>'^',-j"? '^1 of the.se extraordinary receipts, i-espectinir which there can l)e
any douht. Airain-^' a. 's may be set extraordinary expenditure like that resultiui, from
the Feniiin raid last year, and the decennial Census now in ])rogress. If the statement
had embraced four years instead oC three, the extraordinary items would probably
have balanced each other.
It must, howevi'r, be borne in mind that the Consolidated Fund Fxpendilurt-
embraces one item which is a reduction ol' the debt. A\'e are pledged to expend a certain
sum annually towards paying oil the debt through the Sinkintr Fund, and that expenditure
is, th(»r( fore, properly charL''<"d aixainst I'onsolidated l'"nnd. Hut it is really so much debt
redeemed, and it must be added to the excess of Consolidated Fund Receipts in order to
shew the amount of Income which, ovi'r aiul almve Mn' aniiuai expenditure, has been
available for ))urposes of Capital.
II. A detailed statement of all the items of whii'h our debt consists, and of the
available assets we have to meet it with, shewinir the movement of each durinc each year.
The ditlereiice between the increa.se ofdi'lil thus shewn, and the amount which we have
expended during the period on I'nblio Works, and other accounts which are authorized
as cai)ital exjiendituri', but which are not inchuled in the stati'ment as available assets,
will indicate in another way the amnunl of expenditure aulhnri/ed on aci'ouni i>\' capital,
which has in fact been met out of current income.
There is another point in this statement which is wioihy of remark — thai whilst the
net debt has been increased durintr the period in (jueslion by #'_',4;il,'t.1<i..'t2, the average
rate of interest which it bears, which is the true test');!!,-! pressure u)»i'ii our linaiu'e.s, has
so much decreased, that tin- interest payable has barely been affected.
It is to be observed that the lu't del)l and net interest payable on it, as eiven by me,
are the debt as itactiially stood on July Ist, and th" net interest wiiieh would be payable
annually on that aniotint. This interest will not exactly correspond with (he interest
actually i)aid either <luriiiir the linancial year preceding or succeedinir July 1st, because
some jxntions of thedebl and inve.stmenf.'i have only been at that amount duringa portion
of each linancial year. Ihit in order to shew the actual operation, 1 append a statement
shewiiiff the actual exiumditiire and receijils lor interest on tiebt and iin estpninis iu the
year 1H(lS-!t as compared with the net interest as it stood .Inly 1st, 1f»)ft.
III. Til ' ehan!>e in the balaiiee of Consolidaterl I'und indieules the same eipendiluro
fir Capital jiurposcs out of income. V,> „ ,:
It will 1..' s,>t>n that tho rt^sults of tht> thr«>t> stattMnoiits are not idontiral, and iho
H<''"on<l aiul thin! an- p.-rhiips the l)..Ht test of the Hnaiicial position of th- country. In
ordiuiiry y<'ars th.-re would be no notio.-ahlo diir.'r.Mu-.' l(i>t\v»>.>u thi> thrco, thouijh «ome
triKm!? roctifications of accounts in i)revious jcars will from time to lime occur, which
will ad.Mt the corrcspoudcuce between the (statements based upon the ohanpe in the debt-
and that fouiuled on the cash transactions of the year. But in th.- three years under
consideration, in consequence of tlie settlement with the Provinces, the dilferences are
more iini)ortant. The it.'ms which have affected the accounts formimr t':e n.'t debt, which
have not ])assed throuL'h cash are the following:
Debt increased 1M(!-.H by credit to Indian Fund (R A. 'fiTp.R) $ VUm 1H
Arrears to .SciiTii,. ins do '2.:VAii 4-J — i l;!,lt07 »*><(
Debt increase<l lH(!8.!i by credit Province of Canada (P. A. (m p. 1 -J) A:! I O.Htjt! K,
Indian Fund do S!,il;.'i' S-i
(ireat Western do 4%Mo JJl. -♦M;)ti.",'.4 !tH
l»el)tnicreased l«t::i-70 by credit to \ew Brunswick A KV.HO 17
<iuebec 474 7."i
liiiiikiii!..- Accounts 7;{ M—ii 11,128 2ti
11 w , , <:!«0.7'.tu M4
lM,t n-iluced lH(;7-.Sby del>itin'r\ova Sootin (P.A.'O!) pit) A !t7:! :i:;
Township Indemnitv .")47 o:',
Debt reduc.'d 1.si;k.9 |,y debitino- Township Imlemnityi* t;-J:! 4.-)
]?aukis<r Accounts..... T-l 0(1— | tiiM". 4.')
Debt reduced 18tJ!i.7o by debitino- \,.\v lirunswick $ V*l 07
IJaukina- Ar'cotiuts.... 4.").')ti 17— |."i,;i47 •J4 — | 7.">t!4 0.*,
Hidnuce i(i:i7:!.22t» 7»
So also in ISCT-H Consolidated Fuiul was credited with ss.VJ.tlHI.Kl, an amount of
expenditure mi Public Works Capital charged to the P-.vin.'e. and which, therefore, did
not affect (Jashofth.. Dominiou or any o.iier debt account.
The comparison of the three methods of judsrintj- of llie liuancial j.roirress of th«
country will then stand thus:
Excess of Con.solidaled Fund h'eceijUs.. S1.771..")4:2 fu
Sinkintr Fund " iMiH.tiut! r,:,
*2.<lxo.14'.i 22
Not throuuh Cash, as above ."7:!.22t! 7f'
x2.;!oii.!t22 4;;
Public AVorks. iVc A4.7.'l*<..'^.-|2 74
Increu.se of Debt 2.4:!1.'.i."!0 .'12
!s2..'iO0.!t22 42
in.
Consolidated Fund, l.siH sri..',."(ii.KO;] 04
1870 4.197.UtH H(i
Decrease «2..'>iV'.(!(t4 24
Public Work.s, as above .V.'.cs) si
s2.?}o«,!t22 4:1
.TOITV LAVCrTOX.
Docomber :lrd, 1»70. A„>/ilor.
I
Htatkmknt of the Rt-coiptN and Kxi)iMi(litnri> ol' Consolidated Fund in ISCT-S. mtif.;»
II lid lSti!t-70.
li'i'.cipts. iMCT-s $ l.i,7.'J7,470 12
Kxpciiditun' 1 :!,.■).!.), ti.l;> l!t
Excoss ol' RecHpts $ •Jo|,s:!.'i ,"i3
Rt'.i-ipts. ISCS-li «c 14.4'<.">.I.SIt .",7
Kxiicnditiirt' 14,l44.o4lt n.'.
Excfss of Ifcct'ipts s :!41,0".m .",:;
K'l'ccipts ISC.O.-n ii. ir)..'..'!;!.7it7 7:1
Expt'ndituro 14.:!o.").lSl :il
I^xci'ss of Ifoocipts sl,2'28,t!1ti ;V_'
Total KxcPKs of |{fceipt.s.. sl.T'L.UJ .'>7
Sinkintr Fund, lMti7-8 S .'!.'>.').2t)i! tii;
lSti«-!l 4-_'ti.S(l i till
1Hti!t-7(l 1 iitl,.V!:! :',:',— ^ iMlH.tiiltJ i;.",
Total siirplns Inromo of Consolidatod l""und fx-
clusivc of that applied in ri'diirtion of
ih.' debt I •J.<;^0,14!l -2.1
fJ. V ;.:,"!■
1 1.
COMPARATIVE STATEMENT
or Hie Di'Ut of llir DoMiinion. 1SG7, IH<;k iHCi!) aiui
IH70.
.lulv l.vl, l>i''.". .Inly 1st. isiis. July l>t, 1m;!". .Inly M. isTii.
Viii/iihlf in Liim/dii.
# crs.
liii|>i'iiiil (luaritiiit'iMl F^iOiin (olil) J ]>. i'.
Jtii Iiitcnoliiiiiiil 4 p. r
Intorcoloiiiiil Loiiii .'> p. <•
Coiisolidati'd Ciiiiiuliaii Luaii riiintls...r) ]). c. 27,7S4,4(1I !>-2
1)(. Sln.k...;j p. e. :!.77iMri:l ;•:;
('Miiada Bonds (did) ;'» j). f. 2ii7,tltlii 7n
Do do i! p. c. :i4,'.>47,.')(iti 71
Nova Scotia l!oiids ti p. c. 4,.')f^n,;')'MI tit!
Ni-w Brun>s\vii'k lioni.s " P- f- ."»,t';!7,4>*it Oti
Puj/nlilf ill Vditmln.
Canada J'.onds (oM) .'. p. c. ll'J.'.fj:. (II
Do do.. t; p <•. 1.J.")4,:i,-)() (t2
Do do 7 p. C.I .S7:).200 (10
Ni.va Scotia ti p. c.i 1,4><l.!(')0 00
N..\v Ikmiswick lip.c.i liMl.lioo 00
l']xcho<[\i(!r Hillw ;
Bonds convcvtililt' into Stock t^i p. c;
Dominion Sto<k (J p. C
Savinas Banks, Cainida 4 p. c.i
Do do u p. c.>
J)o Nova Scotia...... 4 p. c, t;44,«H7 02
Do New iSmnswick .") p. c.i .'.ItU,:;.-)'.! K")
\)o ^^ur^ tJa^ Ao U p. c. 178,000 10
Nova ^colifLSu.si)(>n.s(> Acconnt
Indt'innily U) Seigneurs and To\vnshii)s tJ p.c: 8,S(ilt,H|0 02
Not.-s, Canada j :5,11;!,7"t) 0<»
D.. NovaScotia i (!0/i,H59 12
s cts.'
tiM ,;!;!;! :!4
r\s.
•ts.
27.0X2,201 !t2
l.»72.4i:! !t:l
2(17. out; 70
24.'.'4.-).(i7:! .-iS
|,4C,(i.,l(M) 00
7.:iiio.noo 00
2.4:t.!. ;!;!••! -'A
2(i.s!i'.t. 127 0(>
4.t;.".7,4xH 7!>
2(i7.t!(;ii 70
24.!i42.ii4o 0.'»
t. 401). -too 00
4,8stl,ti20 (Ml , 4, ^.'^(■..020 00
r.i2,'.»2.') (II
1.24'!, (WO 02
x7:;, .:/0 (Id
l,4'i!..ioO 00
l!lt;,»00 00
(100.000 on
1,127.."):!H ()(!
l.'iO.OKS ,S!t
7:!.'.ioo 00
(i70,2s7 IK
(;:!;!.2.'.0 24
17S,000 00
.'i.Hti'.i.HIO 02
8,71i.'),000 00
.552,825 71>
l!(2.'.'2."> (I I
I,227,t;i0 (12
.'idO 00
1.481, (too (10
liUl.iioO 00
(l,:i7.'.,410 0;')
.-,78.000 00
:i.272,8(;i 0!t
o0;{,t!14 20
;{.'>:i.2O0 00
(!5H,784 !»3
0!i4,10(l 8:i
17H.OO0 00
04, KiS 70
:'.,,H(i'.i.8lo (12
4.8.'JO,(l(IO 00
407,743 12
Totijl Funded Debt.
.^. 8o,07ri,70(i !M; 82,7I4,!i4.') 08 !|(iO.!t'.t2,75:3 97
Trust I-unds •! P- <•■' 1.178,410 .",8
Do 3 p. C.I ,").2.1(l,:!(;ii -l.')
Miscellancou.s i 458.0'.i2 ;!8
rrovinccs— ( Intario and (^uehcc,
Nova Scotia
New Brunswick
..J p. c.
.•i.',8,822 01
l,2ti0.r.27 .'iO
!l.):!,!t4;{ 01
1.178,410 .•■8
.■,.27(l.:lx8 (lil
2.-.2.78:! 21
2,1.'>l.1!i2 i;i
84;i.8r)7 72
i'>(l4,»j28 (iO
1.178.410 .")8
.■(,2'.i!i,207 87
'.•7,1148 n.-,
4.o|0,8(i2 (14
(;.vi,7(i8 18
7,:!00.(iiiii tio
2,4:;:!,;!;!:l :!4
2«,:!7.V47:! 74
.5,181,142 II
2(>7.(i(i(i 70
24. '.•42,(14(1 (•.■)
4,400,:>(i(i (•(•
4,8,sf,.(i20 00
r.i2,'.^2.5 01
1,227,210 02
800 00
1,481. '.100 00
1!>ti,!IOO 00
2.224,353 70
57(!,OOn 6(f
4,o!»;i,ooi :>1
8!i.',,(i70 41
(i48,itO0 00
770,570 85
.'<0!^,521 50
17h,ooo 00
(14,1(18 70
•'!,80O,ii45 :>K
7,47'.i,:55:{ .-t.'!
.•i;i4,;!ol 05
10O,8H0,(lOt; 01
1,178,410 58
»,:!:!t;,2:!:! '.«:!
12'.(,12tl 40
5,748,774 (it*
4;i5,712 04
Total Miscellaneous i?
Bankinu: Ar.roiints.
l^ondon 'Ajfcnts
Bank of Montreal..
Mit-cellaneous
!t,440,1(i5 23 ' 10,207,2tlO HO | 11,240,077 32
various,
.lo....
1,22(1,548 .'iS
2.240,410 (17
50,214 :J4
1.;!72,87:! 87
2,5(10,000 00
101,580 ;!5
4'.»,080 01
80,080 I'J
Total Banking- Accounts * ;152(1,17!» 54
Total Liabilities....
S»3,046,0ol 73
3,974,4(10 22
129,Hi7 10
!iti,81K3,C(i(i 20 '112,3tn,99H 89
12,828,257 70
215,570 75
2,022.805 51
85,223 tj5
2,32.!,599 91
11(1,032,404 22
. .if-*=T>yi-t5*'. %-'.'' -i**^
•W-
■*f
assi^:ts.
July 1st, 1^61. July 1st, iHtiH. ; July Isl, iSti!^. July l.st, IS70.
hivrstments.
t'oiisolid.iii'd Can, Loan Fund
Iiitortuiduial do '^
New IJrunswick Bonds tj
Slorlintf Dchcntun's (!
Xurthi'iii Railway Binds tl
C'obourif Bonds i;
Toronto Bonds ti
Montreal Turnpike a p.
Con. Can. Loan Bonds ."> p.
Montreal Harhour Bond.s .", p.
Port Hope Bonds o p.
Hamilton Coupons .', p.
India Bonds -, n
Bonds lor Savings Bank .'i p.
I'o Intercolonial ,j p.
Gran<l Trunk Postal Bond.s variahle
Do Prel'erenee Sto.k ,
Miseellaneou,s Con. Fund Investments
Great "Western Bonds (variable to 'tj!t)..4 p.
Intercolonial Construction acc't ;ij p.
Kxchequer Bills
* CtR.
1,207,222 26 '
* cts.
L5t>-2,488 92 i
H:i,7(lO ()(j
H:i,70(i 6«
24:!,3:i:i 3:;
:il,210 47
l«,Ms:i (10
t'7,2oo 00
2ll.2t;ti
2;!.5H7
'^2,24«
(58
77
80
t;81,:^:{S ;U
24:!.3:!;} :53
2L2in 4"
I7,ix:{ OC
07,200 00
.V!.o;i;! «;?
211.2ti(i (IS
2.'!,5S7 77
llt,.S4:) S5
(j.sL;i;f;i 34
.!t')2.7!t.'»
;i(;..ioo
8;i,70(i
14,tioO
24a,:i:!;i
21.210
12,«03
07,200
2n,2(itJ
2;i,o87
10,781
681,3;!3
ct,s
58
00
00
00
3.{
47
00
00
33
68
77
3,->
34
121,(!tUi (W!
121,7;!!* tiO
!ts,:i.^0 25
2,81O,.-)O0 00
121,0(i0 (;o
121,73't 06
!»8,350 25
2 810,500 00
Total Investments
Miscellaneous.
'roviii' i
■ ■>>
...•) p. c
c
of Canada Debt
New Brunswiik Debt 5 p
Provincial Accounts
Nova Scotia Suspense Account
MiscoUaneous
Total Miscellaneous.
Bimkiiitx Aecoifnts.
Cash
Issue Account ai'/l Specie reserve....
•Financial Aa'cnts
Bank oC Montreal Silver IJebentun>s.,
5 785,782 30 j 6,136,446 92
234,000 (M)
i2i,(;oi; 00
121,739 66
98,350 25
2.708.234 70
2.000,000 00
6,575,410 05
* cts.
2,001,-102 24
1 1 4. .100 07
HS.70(i Oi;
14.000 no
24.!,333 33
21,210 47
7,203 no
67,200 00
53,533 33
211,206 OS
23,587 77
I6,7S! 35
OSl U33 31
9,000 00
157,100 00
121.000 00
121,739 (»0
9s,350 25
2,076,176 03
4,88:{,0H9 49
2,224,353 70
15,388,052 83 j 13,231,127 2i»
10,045,533 63 I 10,iO2,o;]0 07 10,489.769 30 10,504,914 47
940,()99 44
319.822 77
3,842, 1(>5 67
125,054 61
5(!9,541 89
5,959,(i02 32
125,054 01
21,258 29
10,045,533 63
5S!t,ns5 23 !
757,140 00
22,40.3 59 '
11,723,359 51
1.425,786 00
<(3S,440 00
lo,5ti!t IH \
572,443 47 ''
14,770,812 35 17,180.431 58
2,966,930 73
1.X99.O00 00
1. II 8^259 m
72,443 47
2,252,602 38
2.H83,430 07
12,204 42
Silvei' Deposit Acco>int ; I ' ! ' 1 277 8I.s" 4!t
Silver CJiaru-es .locount | , I '" ''...'.'...".. ...... .. '58 7-'4 0.'»
Silver Coinnae Account | ...'..,.......... (i57 K2(i 25
Miscellaneous Banking: Accounts
Total Bankiiiir .Vccounls.
Total As.sels
117,465 61 I 332,487 ;iK I 331,180 13 I 317,721 40
...$ 1.480 ,094 43
...* 17,317,410 36
3,279,72603
21,139,531 46
6,887,814 01 I 7,400,333 60
36,502,679 19 | 37,871,892 53
■ ■■■■-:'.. ./'■.-'..^.'■■.■■'■'^:.^.r ■]■ comparat:ve statement
Of tht' Pi'1)t (if the l)oriiitiii>ii rrmii .liilv i, I'^UT, to.Iiilv 1, 1><7". mcordiiii! t" thi' riit<> of iiiffrcst it )»':ir!*.
I-UBIMTIKS.
i-<tn
1Ht!8.
I
!»<«?».
cts.
$ cts.'
cts
ls7(i.
rt«.
Without intereHt i .'),540,ti31 40 7,:!57,51t; IM ]t;.12ti,7o« 7.V lii,0ti.j.!t01 :,S
At varying rates \ 1,47"),9C') ii> 1, . '572,873 ST! 4!I,0H0 '.tl 21.">/.7i> 7'.
At 4 per cent iiitori'st ! l,:i2(J,<l20 ;5»! 1.482,,']0;i 41 S.4ti:i,;!4!t !!• . 10,9,s8.4Ari 77
" 5 '• '• : ' 30,105,404 Oti a8,H4-.'.t!04 is 4l.».Vi.7.".7 7.^ 41.fi8(l.r.OS .';7
I 42,724,770 ti:, 44.4f;8.1t;2 (Hi 4H,27;J,05l 7*^ 47,it81,ti27 7".
i 2,878,200 oo .1,;n:i,200 Ooi •, j
" 6
" 7
Totaldeht M,046,0")1 7.'! !tt;.H!t(;,t!t;t) 20 11:.'.:!t;i.!t!tS ;v.» lUi.0:{2,4»)4 22
Totiil iiiteretil
Aveviitre rate i>r iiii.Ti'^l.
4,s:>l,710 70 4. '.171.270 O;) .J.lss.tiU On .'•..1.'..'!.8:.2 08
U.21 ; .-1.1. i j 4.(12 , 4.44
as.-;kt.<.
Without iiitc-ri'j^t
At varyiiii^ rale.s
At •'] mid 3?. pi'rciMit iiiteri'st.
At 4 per rent interest
« fi " >>
K*(>*K.>*.1***«*-.,''
" ti " "
! , I •
1.4t;;l(i!Mi h:\ 4.20!i.s,jt; 2'.» I.".,s|2.|S4 lU; l.",.0OS..'.4H o'
•!. 174. Olio It; ;!. I (;2.>*2."> 7". 1.4i;o.(Uti 2."i l.".:!.s71 (ix
•2."0fi.iH!() Oil 4,sx:l.(ix<i 40
2.7<!M.2:!4 7'» •2,'i7t!.17ti 03
12.244.725 On 13 ••134.2 1.'> Oti 14.01!t.:!!tii 1 J 14.342.804 Jl<!_
4-34,333 47 432.t;33 4ti 442.8.^:! 4t; 437.313 4'I
Total a><sels...,. 17.317.11(1 3i; 21,130.;i3] 4i; :iil..Vi2.t;70 10 37.H7 1.802 ;")3
Total interest li!t!",Siii( 77 7."i3.40ll 0(l !••J>.l,■J|•,^ -ji) l.imO.JiH,') 11
i I
Aveni-re iM(e (>r iiileresi 4.1*4 I .•;..'>7 I 2.58 i 2,04
lHil7.
lHi;s.
lHtl',1.
iK'lt.
I # pIk. 8 cts. * cLs. t* lis.
Total debt ; O3,04»i,n".1 73 0(!,KOt!,titt(i 20 112,iHi1,00H 3!t ll(i.C.'12,4t;4 22
I i
Ti)tal assets 17,317,410 30 21,130,'i31 Hi 3tl..';02,(170 ]!♦ !17,«71.H02 ;".3
Net deht 7.".,728,i;41 37, 7.'>.7;')7,134 74 7.'>..'<.'.0,:il!» 20, 7H.Hiti,,")71 00
Tiitiil interest on delit 4.H.M,71(l 7t) 4,074,270 !•:! ."..ISS.iUl <»)] .".,I.">3.H.V2 OM
Tu.al interest on assets liOO.HlM) 77 7.'.3.400 00 020.208 20 1,(100.08.-, 41
Net interest 4,ir.l,Sl!t ;i;! 4,22<».7HO' !i:! 4.2.".0,:i7:! 70 4,1'i3.1fi7 .'.7
Averoiferate ' f>.4H | g. M - :;j '>.03 ;-..31
CAPITAL Kyri-:NDITl'i;K.
lHi!T.8.
I
ISliH-D
lHtJ!t-70
TOTAL.
I'lihlic AVnrks ' 6!!7.T01 tW ' :$8-..4n7 "0 , 200.93.10(5
l.fss Sal.'s and Stores..; 1;!,5\o "(» 4l.ltit;71 i |*.*'"" "l^
1,193,044 44
63,741 71
I 5''412t) 68 ! 344,240 99 ! 2(J0,93-) OH 1,129,302 73
Intovcolonial T?;.ihvay....' o<MiSl M H;!',7«2 12 i l,r.ti7,58»5 40 l,7«7,4.-.(» 1.1
Aciiuisilioii aiul opfiiinsr „^ ,„„ _,. ^ o.n„n.. u-
ot- N..rtl, West... '■-■■■■■-^^-:\:::i-ii:i:--:ii1'^--'^^^J^A2^
574 "08 32 1 .'>14.02:! 11 :!,imO.(!2I -U '. 4,7:!H,8')2 74
lucreaso of .lel.t ' -^-^"^ J!^..! _^!!^"lii'i-L-'i!'^'-^- -*'' i --^^^l- ''^^ ^-
''tnl£;;:fr .45,7.4.. i 4n,83«n5 :l,349.3«8S2 ^.30fi.922 42
111,
St\tkmfnt oI' th.' iliniiire in tli.' 1)nl:iiice of (V>iis..liilMl.'(l FuikI rroiii .Ttily 1, 1Mi;7 to
.Inly I, l«7<i.
('onsolidiiteil I'luiil Dr. to sniidiy ]iiit>ilitii's ii.«-
t suiin'<l iroiii the several l^roviiiees
.lulv 1, 18ti7 (nV/pP.A.lHt;it]..S) *7!t,22!«.7.12 7o
,lo Cr.'bv .suiidrv assets assumed * 7M.7.".4.!Mi2 (13 _
LessC.reat Western [nter.'st aec.nnt reversed... l.(l.-2,032 37— !»72,t;< 2.029 hi,
l'„danee as.Inlv 1, 1807 4 0,550,803 04
l!al,.n.e,lnl> T. 1^7(1 4.107,198 SO
« 2,359,t!ti4 24
('o^^•ARl>;()\ oi' i\t
'H I" roMrrTKD and in'tkres
IniporiHl Guitraiitot'd (> m
J)o IiiliTcolonial I) 111....
IiitiMvolDiiial !t 111
Conisolitlatt'il Caiuuliuu Loan.
Do ."^tock .
Canada.') per coiit
Do ti jK-r (•('lit
Nova S('f)tia
Ni'W JJiiiii.swick
Total London.
Canada 5 p. c
do. 6 p. c
do. 7 1). c
Nova Scotia
N(>\v Brun.swick
Convertible to Stot-k
Sto(<k
SaviuiTS l?imk, Canada
Savinii'.s Maiik, Nova 8totia
Saviiisis liaiik, New linm.'^wick..
Bcitriu'UVK and Townsliip.s
Indians and AVidows
Other Tru.sl Funds
I'rovincc of" Nova iScotia
London Asjonts
I-Saiik of Montreal
Total
Total on Inve.stineiils,.
( oiiiputed.
i!:t:j, 0(1(1 (HI
1:2 1. (Kit; ()()
i.;i44,!i;")(; ;j.)
:i8L',HT4 4n
1.'f.:!H.S :',:',
1,4!M1,,-).. ' 40
:Jil7,t!l.S (Ml
l".t;5,T.t7 20
I'aid.
* ets.
lo.tWil ti7
211I.0O0 00
!'1,-JjO 00
1.:!47.44i; 20
2:!0.2ii2 24
1;;,:;^:^ iV.i
1,41't!.704 40
itiT.ino 00
2!t4,?<(;:! 20
T I'Ain, Hi;>-<i.
.iiiada delit.
^ JH.deht
4,0()2.2.U 37
!Mi4t; 2.')
7;),(i.'>ii (JO
.SS.il 1 4 00
1I,S14 00
:)t.(!S(l (10
1!'(i,:!71 00
;!7,S04 (■>(!
2(>.:!4!l ?,C,
4:'). -is.') 00
2:!2,IS.S 0(1
14:!,r)ini d'!
1!I2,1.V". Hi
;!2,(ls.") 40
1,227 04
;},!I74.. •'.«(! 04
!•,(;:!»; 24
7.'!,(!SH 8(i
:!0,.")ti2 00
.SS,!I14 00
11,S14 00 i
2.".,o20 22
Ns.4(i4 i".(l !
21,0114 72- I
2(;,:!i);! ^-2 i\
4:!.2I!I ?,H \\
2;!2.]S8 (J0-|i
14.-),771 71 J
1!'^,2(17 2o I:
A/l,o2:; 12
r,,:!74 2« ,
70,.'J7.5 85
>*in'l^iiii!' I'iukLs
\. li. lionds
NorllK^r.! IJ. 1{
Coliour,';" lionds
Toroiii'i lionds
Montreal Tunipike Ikmds
Miiiilroal llarlmr do
Tort Hope do
Ilainilton Coupons
; (IT.IM'o.slal JJonds
! (r.W. Bonds
j India Bonds
\ Bank ol' Montreal
! Canada ') ]). o
do G ]). e
London Agents
Total.
Computed.
t redite(L
A
ctis.
# ets.
r.24,4H8
40
.524.SS7 04
l.-..'.i!M
l.i
J>9,4ti4
77
SI.2S7 76
r).022
'M
4.l'o.') 60
14,000
00
14,(100 00
1.272
00
I.HOS .ss
7 OS
IS
l,:i.')S 24
4.(i-12
00
(l,04S 00
10..')ii:!
.'!;)
l.')..s4.") 00
1,1711
3H
1.7ti!i o:i
sl^il
06
:!.041
06
'.I.S42 .Vi
110,721)
36
.'■).■>.:!(; 4 till
84,006
ihi
.■14,0(i(; 67
1)0,000
00
4;i,o03 .-)S
14.:{70
is7t)
66 )
00 (
7.H40 01
27.!ir,(i
41t
:!(;,121 24
!i21t,2i;S
10
8:iH,i108 24
r>.lS8,641 82
!t21>,26S 10
4,25!t,37ii 72
Interest on Del)! com pitted .
J)o paid
I)lte-(f)/7 on Assets eoiiipiited.
Do eredlled...,
s.").1,s8.()41 82
.3,1.-)7,804 Oil
!I2!I,268 10
S:!8,!I08 24
830,8;!7
tiO,3.V.l M
])ill'"r"llfe*'n Net Del)) .■)!i,r)22 13
f.
I'he amounts paid andireeeived are thus diaru'ed
Interest on Tuhlic Deht
Ontario and (^uehec tSiilisidy Accounts.
Province of Nova .Scotia Deiit
4.n07,013 71
1!V,.267 2;i
/i:i.52;! 12
Interest en Investments ^:
O. \' Q. Suhsidy Account \..
.«;314,021 20
.. 024,887 04
.■),ir)7,804 OS
\
i|838,5»08 24
V