The Clinton New Era, 1900-04-13, Page 7u
f upp event
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THE NEW ERA
OLZNTON, ONT., FB 1 DA1, .A.P BIL 13, 1900.
W. S. FIELDINfi'S
EAT BEI6ET.SPEE
e British Preference Will in Future be 331-3 Per Cent. --Canadian
-t � � ► � With.Trinidad.
.
ct rities on'B.ritish Trustee List. --Free' Trade With Tr d
Beet Root Sugar Industry Encouraged,
•K:
Ottawa, March 23.—Seldomhas such an important utterance faller~
from the lips ofin
man public Canada as the, which was delivered in
. a p
the House of Commons this afternoon by Hon. W. S. Fielding. Barely
if ever in the Parliamentary history of the Dominion has a budget.
speech been so enthusiastically received.
The Minister of Finance has a well established reputation as an able
,and pleasing speaker, and a full House and 'crowded galleries greeted him
as he rose to speak at 3.35 o'clock, and followed with the closest atten-
tion his masterly speech, couched in Clear, concise language and full of
meaning to Canada and the Empire.
Hon. Mr. melding was -n splendid form, arid was generously applaud-
s qh
1,‘‘,1)
kit
)t)
H0 9.•W:. S. FIELDING, '
Minister ot F,nance.
ed ,by the Government• members as he proceeded to- :drive -home- poiM-
after point in a manner which carried conviction.
FOUP. TMPO1t AINT ANNOUNCEMENTS.:
He began by giving the House an account of the Government's'stew-
ardship and a faithful picture of public finance in Canada was in turn
reviewed, the result being to show that the Dominion has just closed the
most prosperous year in its history. '
This having been doneand the financial administration of the Gov-
ernment having been vindicated by its results, he turned tothe con-
structive part of his speech, making four important announcements, each
far-reaching in its effects and all showing the determination of Sir
frid Laurier and hiscolleagues to make : it possible for Canada to
the most of her greatresources and to take the place in the van of
perial progress to which she has been called. •
. BEET ROOT SUGAR INDUSTRY#.
BRITISH PREFERENCE RAISED.
(4) The raising . of the British
preference from twenty-five per cent.
of the duty to thirty-three and' a tl'ilyd
per cent. .
This .treasure, 'tbe: most important
of all, would, under normal conditions
be an adequate express;on of the feel-
ings and wishes of the Canadian peo-
' ple. Its importance can 'scarcely be
over-estimated at the present time
when Canada is awakening to the eon-
sciousness of the debt 4f gratitude
Which she, owes to the Motherland,
when the Dominion has everything to
gain by -cultivating the good opinion
Which the people of Great Britain
have formed of Canada as the result
of . the sympathetic legislation enact-
ed since the accession of the °Laurier
Government to power.
The Budget -Speech.
Ottawa, March 24.--(Special.)—Budget day
brought: the::usual large attendance of
members and Visitors'to the Ilouse•yester•
day,. Gtr. Melding was in splendid 'form,
and his speech • of 'two hours and • twenty
mlbuteg•length was attentively listened to
and frequently applauded, At one • point,
• ' When he announced that' Canadian securities
could be. placed upon the Trustee Lint Ln
England, , he was chaffered by both . sides Of
the }louse. At the close the merahers' all
rose and sang: 4'cod S,.pe the Queen.': •
new taxes 'somewhere else. Well, tt will
bo Ito doubt gratifying to the honorable
gentleman to know that nq new taxes
have been Imposed, and that Consequently
the concession of penny postage has been
a great reduction of taxation tq the people
at large because there Is no 'tax that is
more universal throughout Canada than
that which may be called taxation to meet
the cost of°'the postal servlce of the coun-
try.. The public will he glad to know
that the anticipation of my honorable friend
has not been realized, and that this treat
boon Inas been ,given without entailing the
necessity of any Increase of taxation in
other respects. (Applause.)
. But while there is temporarily a loss. of
revenue in consequence of the granting of
that boon, I rejoice toknow that that
loos will not last int eth longer, It is a
principle which we on this side at any
rate tecognise that when you cheapen an
article le the public they will use more
of lt,i and that principle applies in the
mattet of postage as In other matters. We
are glad to know that owing t,, the reduc-
tion in postage, the people are writing
more lettere than ever before, and it will
be but • a Yew 'months, In all probability
not more than tivelve months, when the
revenue -from the Post -office Department
will be as. much as It was before the penny
postage was eetabiisbed. • (Applause,)
+r+
REVENUE $ND EXPENDITURE.
The total revenue for 1808.9 was ;46,741,-
249, or an: increase of $0,186,000 over the
revenue • of ' the previous year. The ex-
penditure chargeable to consolidated fund
for the year was $41,003,300, or an In-
ereaso of $3,070,074. over the previous year,
•
eeptlonal charges Of one kind or another these expenditures nave produeed nothing
which do not form part of the ,ordinary for the good of the country. I have hero
everyday expenditure of Governments, and a'stateweat of the exeeadltures on =nabs
these from time immemorial are collected publle works, I.C.II."lad railway subsidies
together under the heading of "Capital Ac- ror two periods of three years, tbe three
count," distinguished from the ordluary years 1894.5•0 and the three years 1897-8-9.
roseate) account. All these expenditures are chargeable to
Let It be clearly understood that the ea. capital, and were as follows :
189$•0, 1807.0.
counts oe the Government as respects these ;canals $7,738,210 $9,455,703
two classes of expenditure are kept today' Public works ...,...,, 310,877 033,409
Intercolonial- 1 02;,209 1,823,230
hallway sul sidles , ....8,709,181 0,Q33,110
Taking these four large classes. et .ee•
penditure chargeable •to capital, I find In
the last three years of the Iaie Government
they agent $14,851,483, ,whole our expend[•
ture of like character in three years
amounted to $16,097,500, and so It will be
seen that, while we have a larger expend!-
turo in the aggregate, we are able to point
to such items as this to show that this ex.
peuditure has been applied to services an.
solutely necessary fon the "'growing time
In Canada, •
•
exactly as they were 19 former times, and
therefore tbe comparisons we make aro
those we bave the right to make with the
expenditures of former administrations. I
trust, therefore, that those .honorable • gen.
tiomen' who have eonfused these two. ae•
counts will draw the, line between them
and see that any comparisons they sub-
InIE are properly made.
We expended during the last year on
capital account,, that is to say outside or-
dinary charges against revenue, $9,137,502.
The Public Debt.
Let us turn now to the effect of this 'ex-
penditure In Increasing our public debt.
I have here a statement allowing' the Ad-
ditions to the net debt on the 30th June,
1809. . Capital expenditure $5,930$42.94.
railway subsidies $3,201,220.05, oxpenses of
loan of 1897 $3,780.87, allowance to Mani-
toba (under 01 Vic. Cap. 4)' $207,020.43,
amount paid to Manitoba (under 01 Vic.
Cap. 4) .$281,202.82; . total, •- $9,039,-
069.11; Less surplus $4,837,749, sinking
fund $2,482,484.05, :refund account N.W.T.
rebelllou $1,853.41, cam fund transfer
$534,30; total, $7,322,021.42. Inerease of
net debt, $2,317,047.00. This increase of the
public debt, Mr, Speaker, is somewhat lar-
ger than I at one •tlme expected, but it is,
notwithstanding, a very moderate increase
LAA SU.R 'L1JS PREDICTED. • -^
1 turn now to the affairs of the
year of which some eight months have
passed.' .I estimate'. that .the total revenue
for this year will pass the 014, million
mark. (Cheers.) Our expenditure up to
the first of the present month was $25,-
018,200. • It ,will be necessary to make a
somewhat, liberal allowance for the expen•
dit•are of the remainder of. the year. Last
year, it will be remembered, •Parliament
adjourned at a late date. The Minister of
Public Works was, unfortunately, absent
through Minas, and very many of the
grants which were appropriated in that de-
partment were- not expended. But arrange-
ments have since been made, and I have
Supplier ent.
daily. therefore, stv, Is a very strong one.
We have not a' dollar of flouting debt at
this moment ; and though, as any one eon -
fleeted with finance la aware, we have
been passlug through a period of great •
stringency le the money world, It 18 graft-
fylug to .ns to know that •we have been '
able to bear these dlfllcultles and, not go'
upon -the money murlcet at all.
Predictions of Prosperity.
1 have spoken of -the year 1898.09, ending
in Julie, and I have spoken of the current
year which w111 end on the 3011t:'of June„
next. I have placed on the table the male
estinet,tes for the year beginning the 1st
of July pext and supplementary estimates.
will -follow In due course. I do not think
1t is uecessary at present to go into 'any
speculation as to the finances oe next: year
farther 'than to say kola,. that great as
has been the progress and prosperity et
Canada during the past two or three years
we .have na reason .to believe that there
Is going to .be, any early . ehee5r to that pees -
putty,
I do not think It Is reasonable for us to.
look forward to a 'continued period •of such
Prosperity as we have had. As I .ventured
to remark an a previous occasion, the pen-
dulum that swings ane ..way may :soma' day
swing back and it Is always welt that we
should keeb that in mind. But so far as ,
we can see now thre is not a break in the
cloud ; there Is every reason to believe
that the new fiscal year will bo one or
prosperity in Canada and, that we wilt
come out of it at the close with a geed
financial statement. (Applause,) . •
•
ria
THE YUKON EXPENDITURES. -
want to ask the attention of the House •
DOMINION OF CANADA:
DEPOSITS ev, THE -PEOPLE 1�i1 THE CHARTERED BANKS OR CANADA
• •. , JUNE .30TH,18a•
(0,AQIIAM IN CONNECTION MiTI; B@Det?:QF,RltCH Of 11101'1. W. el.' FIELDING. MINISTaS 01 FINANCE. SEseioN' e/ 4990.,)
68 68 '70 '71 '74 `7 "'74 I5 76 77 lea.79 .80:e81 c9'64, 85 86 8?' 8C84 90 9l SZ V3 5 91Y
238
140
280
220
210
200
-190
}loll. Mr.' Fleldlag rose at' twenty-five
minutes to' four, and was received with "N 180
hearty cheers.
Be 'sold: -,Mr. Speaker,.When 1 -:had •tho 470
'honor to• deliver the bneget speech a yea; •
' agoI spoke to the house of the . affairs 100
of the . preceding Year, which • I :was able • I�
to. describe as 'the' most piosperoits period.'160
In the history. of Canada. It l8, 1'itin• k
sure, a case of ,gratification to as .011 that ;
140_
the favorable •conditions which.:then exist- •, ; '
ed have continued, aud that the year which ."40. 1.80
• followed -leas also ;one oe wondeetul pro-
gress• In .Canada. ; • '' .• 120
: " The' year 1898 was regarded as.a phenom-
enal year, but great lie'. ;vas• its activity, 110
-ttlat: of the.: yens 1390_was_ still _greater,
aud I May say ' of thin year that ' It :was
beyond alt question .the Most prosperous
year "in. Canadian history • The evldeitee
of tliat prosperity will be found 1a the
public documents, ,ln the returns of the,
banks, • in Ole reports • of.. the Boards' Of
Trade, in 'the .reports of our great rallway
and industrial corporations.. 1 may as I
'proceed have • occasion sto, refer to n -tone
of the more strtkiug features of that•prod-
' perity, and et the close I shall • phLCe au
the table of the Douse, as 1: did on 'a
previous occasion, a series of diagrams
way- 1
which •will in a very vivid' tt y Illustrate
the progress which Canada has made .dur-
Int; .the 'comparatively *short period oe her
make •nallonut existence.
Im :, • '• 'The Year 1898.99.
• .1 ,01.. me, air, following, the ubual method
of the budget speech, Melte. attention . to
• These four measures are:— the Anemia' affairs of the year ending
the 30th of June last which we describe
(1) The .encouragement of the beet root sugar industry by placing in our blue books its the liacal year..1808.
03 During that year ; the .
on the free list the machinery .used in thd. manufacture of sugar fromed from all sources amounted
collect -
ted to $40,741,-
the sugar beet. As MX.' Fielding explained, Quebec •experience has not 7,i9. This amount, which I may say, by
been very encouraging, but companies' formed in Ontario claim that with the way.' exceeds the anticipation express-
ed in my statement of last year by $103, -
the duty removed from the machinery which they have to buy in the 850, represents the very pronounced in -
United States, France and Germany, they can compete in the sugar mar- crease of $0,186,000 over what was. receiv-
ed by way of total revenue la the (treced-
of the 3500,000 requested to - operate
ket without the assistance of a ' bounty: • He had been informed that tng year. (Cheers.)
the industry on a paying basis Sources of Revenue.
- The following are the particulars. of how
awabove stated. FREE TRADE WITS TRINIDAD 1 d
. • (2) The decision to inaugurate ffee trade with Trinidad had, the Min-
ister of Finance explained, been arrived at as. the result of the 'findings
o1 Mr. Parmelee, Deputy Minister of Trade and Commerce, who had been
d Burin the past. summer as a commissioner to discover the pos-
3300,000 was required for machinery, much of which had to be imported
'` the revenue has been der ee
• 1897-8. 180$;90,8.
$31,704,803 $25,3141
7,871,003 ' 9,641,227
8,527,809 •. 8,193,777
7,450,073 8,589,404
de ate g
sibiltttes of trade with the West Indies. Mr. Parmelee had reported fa-
vorably upon the prospect of the development of a profitable trade .with
the Island of Trinidad, which at present imported large quantities of
manufactures and other commodities from the United States, and which
exported chiefly sugar and }cocoa. The attentionof the people of Trinidad
had been attracted to -Canada -as the result of the operation of the pre-
ferential tariff, negotiations have been entered into, and the Canadian Gov-
ernment
overnment has proposed free trade between. Canada and Trinidad in all cot..
modities excepting tobacco and spirits. Up to the present the Trinidad
authorities have made do final statement, but they have declared them-
selves anxious to develop trade with Canada, and there is every likeli-
hood of a satisfactory arrangement being concluded. The effect so far as
Canada is concerned will be lower prices to the Canadian consumer, and
t' °ffiraisha good market for Canadian products. •
SECURITIES IN "TRUSTEE LIST." ,
(3) The admission of Canadian securities to the "Trustee list" in
Great Britain. Now great will be the advantage of this most important
concession will at once be admitted by financial men. The effect will be
to open the great volume of funds held in trust, such as • money heId in
chancery and other capital for Which absolutely este investment. is
of first importance, and the investment of which has hitherto
been restricted to such gilt=edged British securities as cliiisole,
to investment in Canadian Government securities, and, as Hon. ]kir. Field.
fug explained, this will greatly improve the standing of Canadian bond*
by placing them practically on the same footing as British consols, will
strengthen Canada's financial standing, will advance the selling price of
Canadian bonds by from two tothree points, and will directly bring
about 12,500,000 into the treasury of the Dominion, This advantageous
arrangement has been arrived at as the result of the business security
Canada under Liberal rule, the efforts of the Canadian 'Go'vernineiit,
the ea -operation of Lord Stratheona and the good work done by Mr. aohn
''f 4ystCourtney, Deputy Minietor of Finance, whose hand --Hon. Mr. Fielding
Modestly refrained from stating•• -was strengthened by the statesmanlike
17fenergy of the Minister of finance for Canada. As the result of this single'°
''' • etrolte of statesmanship Canada Will be at once and fully recouped for
every penny of the outlay involved b y sending troops to South Africa.
The action will be announced contemporaneously by legislation in the
Canadian and the Xnt,*erlal Parliaments.
Customs
1'lxctse
Post Office
Miscellaneous
Total
440,555,238 • $40,741,240
Increase of Customs..
The increase of customs was great along
the line, there being but two articles on
which there was pot an Increase of rev-
enue In case of excise there was an la
Creaife on .alt .articles. it have here • a
statement of the revenue collected on each
article in the excise department" as fol.
(awn:-•
Article.Duty Duty Increase,
accrued. accrued.
1898. 1800.
Spirits ....A:163,575 $4,560,147 $1,002,578
Malt 584,321 843,103 258,872
Cigars676,577 7680490 91,919
Cigarettes-. 240,343 302,841 62,408
Tobacco and
snuff 2,651,633 3,014,951 363,818
$7,716,449 $0,493,028 $1,770,170
ria
es I have already stated, in mtscellan•
eons revenues we have a large rotelpt from
the Yukon, which is a comparatively new
source of revenue in the last year or two;
and we have an lnereaee of $690,09Q. •4A
the earninge' of Government railways.
• - The Post -Office Department..
113 this general classification 01 Out ooprces
of nue, onItem • whleh show
dtminutlanreveisthe the 1ly'ost•odice Departmens ta,
and that we ,do not regard as a matter
of regret, bcceause the reduction in the
revenue of the Pont -office Department to a
reminder of the great re#orm aeeompllehed
In the department by my honorable friend
the poetlnister-General when he establish-
ed the great boon of the penny post. (Hear,
hear.)
i, remember that my honorable friend
the leader of the Oppoattlon when speak,
Ing on that subject at A pnblte gathering
Inago the Chir of that BrockvillethioGov
not many months.
said ernment had ` ro•
dueed the postage to Awe cents, and that
thew would make up for that rtaitittloe;
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The. prinetpal'Intrease.is do the 'tntcreet of the debt, having, regard to the very
on the public debt, in'' which connection targe undertakings' in which we have been
we had to pay a full year's interest in engaged. When I stated that it was some -
the previous . year, what -larger than seine of us anticipated,
In legtslnt 1 r
we had to pravlde for the.. one • of my bon. friends opposite Bald
plebiscite; La 'militia we had to Po- dear,. hear." There Is a popular Iden, 1
vide for the Yukon contingent expenses kliow, M some quarters that' the increase
and the expenditure on annual e drill; in. of the publle debt under this adnhinlstra-
public• works we had to provide for ad- tion has been very large. No statement is
dttlonel dredging plants and numerous re more unfounded. • There is absolutely no
pairs and extensive addltlms ...to these ground for .any asttement of that charee-
Werke; In our ocean and river aetwlee we • ter If a fair comparison1'50 be ;rade between
had • to provide for the cost of a new the 'expenditure of the present -Government
steamer. WO had also to 'provide for ex- and that air our predecessors.
pendlture in the Yukon 'territory which was '
absolutely necessary, and as honorable gen-.
A Comparative Statement.
tiemen know, one Government railways aro ,
.being 4evetoped_ 49
a. ctilslder_able cgt4nt, I' have here a comyaratrve :statement of
but, our -expenditure in that conaectton Is a the public debt for twat periods. Intaof
ofInerea expenditure, 'IIs It is the cause first the period front 1878 to .1800,.18 years:
of to edron the Iniercolontal. Net debt, 1st July, 1878, $140,362,060.91;
had, therefore, a revenue for the net debt, 1st July, 1896, $258,497,432.77; In•
year 1898-9 of $46,741,249, and an expend;• crease for 18 °years, $118,135,263.86; aver-
ture for the same year of $41,003,500, so age Increase per annum for 18 years, $6,-
that we Closed the year with g surplus of 663,0755.71. brow present a similar statement
$4,837.749, (Loud cheers.) fear the three years from '06 to '90 : Ner '
Capital Expenditure. debt, tat July, 1806, $258,497,432; net debt,
fist July, 1890, $266,273,446; Increase for
I should now refer to the gttestlan of three years, $7,776,013; everage increase per
Whitt we call eapltal expenditure. There annum, $2,502,000. But .tlils statement, fa -
Is a disposition occasionally on the part of vorableashIte e is,
hardly tells
thelthe
st4hreo
some honorable gentlemen, who perhaps story. Of
have not given the matter suffclent at. years about two .and a half millions, 1n
tendon, to eantet30 capital neoount with round numbers, bas been expended In pay -
income account, and even during the pies- Ing obligations entered Into by the late
'eat' session we have benrd honorable gen- Government or obligations• which e£isted
tiemen treat these two saecotnto no if they prior to this Government coming into pow-
wete one and the same, and put the total er gild which should have been met by the
expenditure of both capital and income provlous Government, and, if you take this
during. our time against the experiditatte two end a half 'millions from our oapendl•
ot former Governments which Included tn• ture, and hold this Government responsible
Coma charges only. only for that portion of the increase of
There ougltt to be no ntlsunder:deeding debt which Is represented by their own
in a matter of that sort. I ani' sure that outayfoatchagsoccurl subsequent
Mere will ,not 'be any on the ;tart of- the tetngrooyou will find that
leader of tine Opposition, who at one 'time the averago annual increase of the pab)ie.
Controlled the Finance Department himself, debt under this administration has been
nor 0114 the part of the ex -Minister oil. Pi. *Only .abort $1,700,000, agatnst about $6,8000
ranee, because both these honorable, gen. 000 tori every year of the government of
tiemen are web aware that there is A their predeeeodors. The other day,' When
broad distinction between these two aetbt some reference was made in, the 0otlrae of
discnseing some targe etpefditnre* on the
'Unusual Expenditure. part of thio Government, somebody asked,
what they were for, and an hon. gentleman
Thera are certain things of an unusual oppoette Bald " Notaing." But let me call
eha.racter, snob, as tho conetruetlon' of etteetton to two or three UMW Of Our OS
great public works, railways and canal', peadlture to, the Mat three ;rears that the
the subsldhllnf of railways and other et. , Otoaee inid the country DAY mdse wlietbee
e• l ere CO cea,
.01'1,i‘O'XgOS8
ei •11118 '•• d. ++ g e
Cle
.d1
•
no • doubt that during, the working season` for one ,moment;to an 'item that bas only
between now and the 1st of July'very Iib
eral expenditures will -have to be made.
We make allowances for a iiberal expen-
diture on' that account, and,. making such
allowances, I estimate that the expense of
the, year will be $43,175,900, and I not:oi-
pate that at. the close of ,this decal year,
hnateng all our: calculations aril keeping
our accounts in exactly .the. same way 0s
our•pr000009sors. we shall have a surplue
of *7,525,000, the largest surplus in•the his.
tory of Canada. (Cheers). 1 may find my-
self tempted to infringe on the copyrlglit
of tate Postmaster -General (Mr. Mulack)
and inscribe on the public accounts, " We
hold a vaster surplus than has been:" (Ap
recently appeared In our' public accounts,
which has taken a great deal' • or our
money and Mitch Dwells the expenses !Ohlc'h
hon: gentlemen opposite like to speak of so
well. I desire to call the attention of the
Nouse to It as an evidence of the feet teat
a mere increase of expense ds' not in itself
an evidence of sing increasing burdens to
the people but there may be cases In wbleh
Increasing expenditures, far from being a
burden, actually tends to reduce the bur- .
dens of the taxpayer. I have There the fig-
ures of the Yukon tlletrlot, receipts . and
expenses, for three years.
Though this Yukon statement Swells bp',
the total expenditure, though" it, gives hob. •
gentlemlen opposite. ,an Opportunity to talk :•- •
of this great expense, still the same as- •
count shows that the Yukon h'as' oleo been
The Capital A.eeoual... _actually the source of a • email 'revenue.- _
•
(Applause.)
Coming now to the capital account for,��
the current year, our expenses to the 1st •
of March have been '$5,341,462. We have SURPLUSES AND DEF>(lITS
large expenses on railways, on canals, and
on public' works yet to make. We have I wilt now Cay a word as, to. surpina,+!
provided liberally for these. and deficits:
Men welutve this yeer some services of I do not know that et Is absolutely neceo•
an exceptional 'character, which We are eery for tho prosperity of a country that
proud to mention, a service which is not for we should always have 0 surplus. We can.
ourselves, ,but for •tile Implre'and for the not properly say t�bere may not be dr -
maintenance of our • troops in Africa. cumstances in which a government would
(Cheers.) We have a large expense to meet be web justified In having a deficit. Still.
On that service. I desire to speak of the I Suppose we shall agree that it Is well to
public ,lett of the year with some caution have a balance on the right side, and It Is
because 1 know that one ''may 'easily err, bettor to have a series of sur pluses than
and I know •that the increase Inst year a series of deficits.
was alomowbat more than I anticipated, but Seeing, filen, dial soave of our critleat
looking atthe matter carefully, nhak'ing the friends have boon disposed to expect that
best estimate one can for the year of which great disaster will Como Piv►m tate flnanrfial
four months have yet to elapse, I am of mIInagemont of dila Government, 9t may
opinion, aud I think that opinion will not be 'without interest to (present compere-
the,dee statements of the surpluses and dead -
prove toa be correct, that during this ear. Its for the periods of the three years, 164
rent year we shall pay all the liberal out- to 1896 ; 1
lay on ordinary account that hon. gentlemen
opposite talk of so often ; we will pay all COMPARATIVE STATEMENT.
the! capilli 'charges we occaaloaally hear SURPLUS AND DEFICIT'.
about : we' wlil pay all toe• railway subs!- 1893 TO 1890,
dies; we will pay every dollar 04 the ex-Itefiail.
Dense required t0 1st of July fee our sets 180.4 i
vices la South 'Africa, and et the end rlt le .... .. ... 1 $1,A 5
the ;Car we shall not have added one dol. 1894.5 ....... a ... a, 94153,875
lar its the public debt.. (Cheers).' 1895-6 56
......'.. • ...• 830,551 31
i Total elicit for
fitrtlng' ll'inetn0ii11 t'olsit cin. three" . ear'At • • • • . L�5,G9d,,750 84
ex Cee 1' tetmate, Average erannal day
The 'total capital pen .. '
fide, ,reach 19,875.000. Our poeltsie6 dflaa- ,, {left ,.:• ...s.. r_.,s.. 11895,258 3.
•