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sumoniy about huh as much. namely, $155,622.. In 1897theyctulrpr only 8110.000. in 1900 for $6l.000. while late of t no short ppace or thir- teen yeani- a sh t time in the history ofa Pry- Vince-they drop to $.19? per year and remain at that tigurc until t in last one is redeemed. Our opponents speak of them as thonrh they were a crushing weight. while tho trut I in that we have, relied ott' through 'he payments we have already made the heavieet par". of the burden. This burden r, rapidly diminishing. ln less. than nix years the payment will he 8lio,- tXJO less than the payment or this year. Alter nine more payments have been made. and these much reduced in amount. the yearly charge they impose, is a tritiinq one. Not Present Liabilities. It has boon dpointed out that the Dominion Government oee not treat as present liabili- ties. as part of her present debt, the large sub. eidicu, similar to cum. granted to railways. and tobe paid by wav of annual instalments for ti1',11',rteuit For example. let on refer to l r3080 tho last Budget speech $1890) of Mr. I 'oeter. Minister of Finance. In w rich. speak intt of the Short Line Railway. he says that its "tmidy is to run for nineteen years yet to come. and that its present value is 82,6'i9,'j29, a bum greatly in excess ot all our railway certiti- eaten and annuities combined. 1 he Dominion Government does not treat and has not, treated this subsidy to the Short Line Railway as a prex-'entliability. as a part of the debt of tho Dominion. it the accuracy of this statement is T,ti1.ig',',y,'d,d am prepared to furnish most Hat statutory Proof of its absolute eorreetncss. Moreover. t lie Dominion subsidy to which I hare alluded is but one of many similarly treated. A glance at only revent vo mac of the Dominion Statutes wil contirm what 1 any. 'Vhile it would be worse than fully to adort a policy of concealment an to our tlnancers. t is cert Linly neither fair nor patriotic to pursue a line of 'tirl"'"fll concerning them which no one won d think of resorting to in discussimi the tlnaneial status of an irutividua or a commercial corporation. We could very reasonably present. a much more favorable stat-ment of amen, and one to which no sound objection could be taken. For example. at the sale in October last. we sold some timtserlimlts, realising altogether 3.516.- 256. Of this amount there has been raid as yet . only $110,729. The purchasers atil owe the Province $255,526. and they are paying interest l ' this sum. More We have an awe-t unqucs~ ,' onubiy good to the amount of nearly a quar- tor of a million of dollars. No part of it is in. eluded in our statement of newts. ' be met out or pmsonnumcu. but were expressly ) regarded as a charge on the receipts of fauna years. Those railway tttht ceruttctttes. all I have already said. call for u payment. this year of the large sum of 3252.179 l next your they drug to u. rum otply abouglmh uanugh. ttt"c'.ly, ll GI??" lure. [allude to unpaid balances due to the Province on account, of sales of lands. The collectable arrears on account. of sales of Crown lands already etfectcd. due to the Pro. Vince, amounts to a very largo Hum. estimated b the Crown Lands [monument to be at least 'ik'is'li.'tnli,i, That [his eql mate is not cxccssive a plain when we consider that the arrears on tho 1tth dayot December. 1867. amounted to tteen'; as la shown by amazement in tho 'rown Lands Department. Mr. "arcourt--l will deal with that. The sales since Confederation amount to 88.09000) : our collection» have been 83.650000. and Nine tore the balance duethe Province would strictly be about $4,288,000. liuwnuch as considerable reductions here from time to time been made in the price of lands based on new valuations. and because of our own legislation, which re- mitted arrears due by settlcri who had pur- chased in townships afterwards made free grants (say Munitoka District. the ('ounties of Frontenac. Itentrow and perhaps l'cter- borough). the estimate of the department is placed at the moderate sum of two and three- quarters of a million of dollars. We have col. leeted of arrears 82,U60,000, and this tends again to show that the estimate of the depart- ment is not an excensive one. It has never been the policy of the Crown lianda Depart.- ment or its practice to unduly press the scttleru for payments of these arrears, since in- terest is running and tho lan In are considered to be worth the purchase money and interest. A Question of Capital. If a purely mercantile statement of assets and liabilities is asked for, let us have it by all means. it would show a result very satiMius tory to the friends of this Government, and it would prove abundantly that instead of our over-estimating our asset-i we have taken the most moderate view of them possible. If Lon. gentlemen opposite inuiat on capitalising against the Province all the maturing railway eertitteateg and our four issues of annuities urea the ground that this in the bush!!!" way 0 arriving at our financial status. then we must capitalise in our favor and place to our credit M "new the subsidy we get each year from tho Dominion. our receipts from Crown lands and timber as well as our other receipts. and include also the value of our public build- moi-a. This would add many mil ions to the va ue of our assets. If we capitalise payments to be made lyear by year out of our yearly re- ceipts to mi ways during any period of time say u!) to 1903 and mace the can talked amount we have another asset eight. or nine times a: large an this to which no one can take execu- tion. and which We do not include in the schedule of insets in the hands of hon. Inclu- Ciowh Duds Ireparttoent." 7 "e-'"" V ___ Mr. Meredith-Yon hue wiped out two or than) millions of thtu..lty Iggrpcmpqt. .. _ -. fuwsd. 9,; _.-.--. / 374.9 Let us now for a moment speak of our esti- mated receipts for the current year. We ex- poet to receive as interest on capital held and debts by the Dominion to Ontario $500,000. and as interest on investments $55,000. Taken to gether I am estimating for $3,596 less under those two heads than We actually received last year. In all probability the actual receipt this year will] oxreed my estimate. For casual revenue my estimate is 8.0000. being $1.915 under the actual receipts of 1889. For revenue from Crown Lands Department our estimate is $5.443 under the receipts of the previous year and well within tho roccipts of 1887 and 1888. Similarly. in placing tho expected revenue for the current year from liquor; licenses at 8510.000. I am keeping well within the actual receipts of last year. Our total estimattd receipts for 1891 are 83.298,822. Estimated Expenditure For Year. Our estimated expenditure for this year is 35.491127. 'l'heénirticulars of this expenditure will he discusse in detail in committee of the whole House. If we add supplementary es- timates. Ha ' $40,000. our total cut imated expen- diture willie 85.531.027.Thiri will lcuve,ahaltince unprovided for under our est imntes oti2o'2,204. At. the same time nur ct.titttatcs of expenditure are calculated so liberally. and our estimates of receipts so elmely. that at the end of the year it may be found, as has previuu<ly been the case in our history. that this d1".icicincy is apparent and not real. For example. while an expenditure ever the receipts m 1886 to the extent of 8241.000 was apparently to he antici~ patted. the result at the close of the year did- closed an actual surplus on the yeah opera- tions under the Supply llill of 870.000. The same state of titituss. with a variation in de. tail, happened the fulluwing year in 1887. Dur- ing each or the last tire years our actual receipts have largely exceeded yur estimated receipts, while our actual cxpendlture has been very much lens each year than our estimated expenditure. _ _ _ - then I re iit" that the friends of the Govern. ment wilfhave every reason to rejoice at the result. This absurd idea of oapitylirdng these terminablo railway annuities inorder to show a heavy liability a3 dust tho Province most com- plete y demonstrates the strength of tho posi- tion of the Government as to its management of our tintutcus. Our opponents might as reasonably capitalise the yearly grants for educational purposes or for agricu ture, and ask us to consider the amount so capitalised as a present liability of tho Province. Our yearly revenue trom liquor licenses, and it is per- manent in nature and not terminabie an are these railway obligations, amounts to about $300,000. The friends of the Government might Just as reasonably capitalise this revenue and claim the millions it would represent as an ad- dition to our assets. Large commercial corpora- tions in their schedules of assets, include the value of their buildings. Our Canadian banks in their returns to the Government include as assets the value of their banking premises, two of them in the latest returns at tlgurcs each exceeding 8600.000. No one questions tho propriety of their so doing. We s out during last Parliament alone over $2,000,008 on public buildings. and. strange to say. those who insist on capitalising our railway ccrtitientgi and re- fard them as a crushing load of debt are never ward to say one word of this large expenditure or of tho valuable asset it represents. Estimated Receipts for Current Year. Outside of the estimates in the hands of hon. membern we will have an wddi. tional expenditure for railways and an- nuity certiticatcs. These crttiticatcs we will. in all probability. replace by a new issue. A glutiee ut- the estimates at once suggests that the needs of the Province loudly call your by your for inert-used expenditure. We cannot uti'ord to stand still. Stunding still in rut-two mound retrogrcssion. Since the detail)" of the estimntes will be criticised in committees word or two now will sutiire. Uk, are asking for cducutionnl purposes 824,576 more than we expended last year. (it thin $3..COJ will go to '/'/.,,"tit"eitge,tthoe1,t'si Unless we gave them thii ai some of the Public School grant would be diverted to kindergarten 13urp0scti. No one wants to see the Public School appropriation lenient-d by a single dollar. All practical edu. ctttioni.qtstiow eoneur in the belief thatthe best foundation for thorough educational de. veloptnent is that which the kindergarten gives. Seven yearn urge there was but one, indergartcn in the Province, now all our larger phuus consider them to be indis reusable. Wound; 31.000 to encourage 'fellg,lsllgl'tl') to estnblish night schools. and on all sides. whether W0 view them from a moral or vilutui, tional standpoint, it is conceded that great good must result from their establishment. These are HOIIIO of our new expenditures. Ive have eighteen more High Schools than we had in 1883 and the attendance nt them has doubled in ten you-a. Our Public, School "where are In other words. at the close of better oC than we expected to 8581.895. at tho close of 1887 to tttll at the close of 1888 to ' .577. ttt tho close ot 1889 to $345,796. at. the close of 1890 to $222,679. man liability of the Province, then to be con- sistent. we Inuutclnimu an asset, thoeapitautiod value of all our receipts for the same period of time. If we apply the same busi- ness rules in compiling our statement of 15:90th is applied lo cyym.ertoittl co 'prtrPtions, Additional Expenditure. 1886 we were the extent of the extent of the chan of the extent. of the extent of