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* a the st. & as the sSummer "were solda 'at 3°1--4 per cent., | term s?:t'ellnent' i encraily acc sd I plus is generally accepted as --and in answer to a further inquiry stat-- | indi C . cating the amount .available over. ed that the present value of the annui-- and abo A i ve the liabilities, _ Many of the ties and rallway certificates discounted M ' e people do not know that this surplus is at 3 1--4 per--cent., the rate at which composed 'of .trust funds, but --c L be sold the annuities, was $3,125,347, or That it 1 aer; rust funds, but --expec $356,189 more than his statement as to s casn. the value in his budget speech. _ This An OJd Member's Reception. statement of surplus is also incorrect, x Inasmuch as he does not deduct the Th« ext to Dr. Baxter of Haldimand | | amount from the assets. hh*' honor of being the member who | y p + as held his seat longer than any other The Treasurer's Reply. | :11;;nul)er of the House belongs to Ml'.l Mr. Harcourt, in his reply, asked Col. | | i:lt::;)trl'.,:f (fi'ur.ur'). "t.h(-' ltas' Blg'nlht'(l'hlsi Matheson to show how the public was | | public Hiie at""h"" f{'") "'"""8} f.l'."m misled, either in what was stated or | mvnt' Mr. Gil 2o n'se ({f,'thls Ia.nlm-' what was not stated. He reminded the Lo Mr \lx'lrt.e son, on rising to l'*l')lb' House that in his budget speech he had Appiause tr r, was greeted with hearty given only a partial statement of as-- l{éuaust{ from the Government benches. sets. The Government could readily '\!tlxmldy;~~t;~dr-1 hf'?ce"t'"t ?Dl'é'-'h rcpl(,tel prepare a statement of assets which li'fll"lat.; !ludt e ,rexnin!,:-;ccn('o's of the would swell up the total by millions of I)'Q-(\n'-a ".e '"'."'g the 25 years he has t dollars. There were unpaid balances on thoves ;na m 3:1 of it, and md}«-ullng a ko# nccount of Crown lands aggregating the m'" f'"'l complete knowledge of | $800,000, an amount two and a half durin ":;:f lal affairs of the Province times greater than the deficiency com-- the ]g d ':t tl.m(?. He contended that plainecd of by Mr. Matheson. The old a' T PW 5 mprevement fund, although Parlizamenat -- buildings property was & trust fund, h,us not to be paid, ln-l worth $600,000, and a Yonge street pro-- asmuch as the Province has paid it out | perty belonging to the Government was ::"d ."_'.-""?'W;'d it already amongst the | paying 4 per cent. on a valuation of | _"u"""'"l""e":-."""'"' sum is a good as-- | $100,000. So that while Mr. Matheson set, _ He€ réviewed the: history of complained that the liabilities of the the various grants to railways during | Province had been understated to the the Sandfield Macdonald and Blake | l amount of $300,000, the assets might be "i"\'lfl";'l!m'ntsi. all};l emplu'mlzed the fact y | increased by $1,500,000. If the argu-- tha on. G. . Wood,. when mak-- \| i ment was good on one side, why not on ing the statement concerning the sur-- | the other ? That the people had not plus that has been frequently referred | ! been misled was proved by the fa« 1"_'11"'"15! the budget debate, that the | £ | that not only was the whole indebted-- $1,500,000 voted could be spent in rail-- | | ness on Account of railway certificates way ald and that the surplus would be | and annuities given, but the basis of intact, was not so foolish or so mis-- | computation wa» also given. The Audi-- I""d(""&' as to say that he could, as this | tor had put the basis of computation at ""\';'l'mm-nl has done, grant $10,000,000 i1--2 per cent., and the reason why he to the railways, and it was in this re-- ' had done so was because when the'first spect _that a misapplication of Hon. Mr. | | /_\m.. of amnuities was made the inter-- Wood's statement had been made by | \ that Heore. The nterent Sicld is h. f:w ,h""' member for North Toronto. A gure, e interest yiead to the t that time there was no --contempla-- purchaser had been reduced from, year tion by the Government of sperding | 4 'r_- vear ta 3.24 per cent.. and that fig-- !une dollar more than the $1,500,000 ap-- ' ;"'I' would be the future basis of com-- l'r',',"'"lfll?l.h l'mtf that was not the utation. Mr. Matheson was speaking policy of the Reform Administration; , of liabilities which would not mature had not the Blake Government gone on | ' [')"'. 10 years. On' the other hand, the and spent more there would have been | Province had a subsidy from the Dom-- $8,500,000 in the treasury, which would mon payable in perpetuity, and if he have amounted by this time to at least dlesired to be Just in contending that $12,000,000 or $13,000,000. But the country the annuities were a present liability had received <the benefit of the rail-- be would capitalize the Dominion :.111;- ways, and it is useless for the Oppo-- sidy and add it to the assets of the Pro-- sition to talk any more _ about | 1 x:: @.. . ._\':nnH"n-ld Macdonala's surplus, even | \;;"Vx;. x.\L'..SIl.'l'. p.-]_( issue with the I'm-; )»{t }IF' irv'ull\'. {\}us a '9}1";'!11'94 | incial Treasurer's statement that the | | At the time Mr. Blake moved his reso-- | Iw"-ngnn of the Province have not been | ';lll'nn for railway aid the County nf,' misled. . The people, he said, should be | l1anark was:owing to the Province $1,-- able to have and should lvu('llw'n' faith ! 100,000 for money hborrowed to "'""'"'"' in the iMinisters of the Crown. He | age railways. *Other counties also hrn'-f 1"'f'll'!'(l to a statement of the Pro-- | rowed money,but his own county (Hur--| vincial Secretary, who, in addressing : | on) repaid the whole amount. It did| public meeting, 'h';ld p,,.hnp.';l',],(;;l".x ;T"'_L ' ) not, like the county represented by his| plus of $5,000,000 which, he said, had | hon. friend . (Mr. _ Matheson), re--| h]u-n saved by the (;u\»(.l»",.p..": and Mlnll;tv tht!'1 nl.il.n:.i(iun, thereby lower-- characterized the statement as untrue / \ing the credit of the coun'ty. The policy and misleading. The lru(s( (l:'n'lsxhlx-'ll.l | in regard to the sale of timber lands ;')' the Dominion Government. are not, | "jl*'_s"l}l]l-'ll by the upnanimous consent 1e asserted, available ; the Govern-- | of .the House in 1873, so that the Op-- ment cannot put 4ts hands ulm;n (.m'.- position had no cause io criticize the dollar of it, and, (h('rq-fun-._ must cer-- course which the present Government tainly hold the same relative position | had pursued in regard to the manage-- as l['h.. Ii:lhililirfz which are not, ac-- "'i""¥ ']'f,"";"t "'ll"'l'l'\!;lli part of the Pro-- cording _ to _ the Treasurer, pre-- yvincial heritage. Mr. Gibson made a sently payable and -- therefore -- are most effective comparison of the meth-- ";;l "il'l«_'lllulic-tl in the _ statement 'i?"( "::;r:'i"fl \ll.{h"t';; Llln-r':ulh('.n\'vrnment O abilit es, 'but the Treasurer ( ario w ose of the late Gov-- takes good care to include these ".":( ernment at Ot'Y:l\\"fl in regard to the dis-- . funds among the assets. That is where | posal of public timber lands.' Coming . down more particularly to the ques--