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M D00 _ _ omm vernment sold. years paming eP t that we shall be able O( \a&so." The amount in the estimates is be yibe: the expenditufe Of thelgutrent| -- $61,207.02. That came about in this year out of pur oilinary revenue, and o e in isSo 50"1183'09 asyl\;m land, that we shail have in addition a very I think in or + 'ze o °°"":? handsome surplus 'at the end 'of the: received a certal(? Pe"cf":igi 'i'f the year. It is altogether probable that our purchase money down--I think it was 'gurplus at the end of the year will be about one--fourth. Mortgages were at least $200,000. Last year it was taken for the balance. With the ex-- Over $400'0'60_' So that we are not on-- ception of one or tt""l', of tgese mordt- croaching upon our estimated income gages. no payments have Peell M L by the expenditures which we propose, subsequent to the cash payments. . We a hold these mortslzages. adnd lns:ead t(x)t The Province's Assets. ' selling the annuities an meeting the A s expenditures for railway purposes, etc., A word or two with reg'ardlto the as-- f it was thought advisable to sell these sets of the Province. Now 1 am CoOMi-- imertgages, and of course they could not ing perhaps upon disputed -- ground. \be sold without being guaranteed. Where do we really stand as a Pro--| |Othérwise they would be sold at a sac-- | vince? What are our assets, our lia--| iriflce. They were so sold,. _ Some Ofi bilities? Mon. gentlemen will remem-- 'them wore taken by trust companies,| bf C thrat I toign?e'gn}o:' :}?Z aluiog:;;ligE |some were sold to the university trus-[ :s(::zr'thaigifigpthe financial &Sggon of tees. Those mortgages thus being en-- the Province. A copy of the report of. dersed were guaranteed by the Gov-- the commission has been left in the 9 ernment, having to be discharged in the hands of the hon. members, and _ I ordirary sense of the term. _ Sixty.--one have no doubt it has been carefully thousand dollars of a refund to these perused. It shows, taking the whole corporations for the amount of money period since Confederation down to the advanced will relieve us of that obli-- present time, that we have kept within gation. the ordinary receipts of the Province. . Mr. Matheson--Do I understand that The ordinary receipts since Confedera-- this money is paid for equity of re-- tion down to October 31 last, the time d@emption or simply on account . of fixed in the commission as the terminal guarantecing the mortgages ? period for the examination of the ac-- _ _ Hon. Mr. Ross--We received in all, counts,-- were $103.815,404.42, and the first in payment of cash and afterward expenditures $103,218,525.40, leaving a |by the resale of these lands, nearly corresponding balance of $596,878.96, so $10,000 on account of these mortgages, that we. may . find.. our . experditure: so that we have that for these lands, throughout this long period. How do and, of course, hon. gentlemen know we stand ? Let us look over these how it arises that a man sells a picce various items and see. | I will trouble [Of real estate at a very high figure and the House by calling attention to these receives a payment down and takes his somewhat in detail. We have in drain-- . mortgage. If the estate comes back to age debentures and other investments, e himseif again the mortgage does not with the gecurity of several scores of |catch, there is nobody to hold. That municipalities at our backs, $286,'1()4.'18. was our position. . These lands were We have sums held by the Dominion sold as high as $31 a foot frontage on beaalf of Ontario, bearing 5 per cent. wher the 1889 boom was on. We re-- interest, the sum of $4,758,185.15. > 'ceived in cash and on the sale of lands Mr. Matheson--These items don't ap-- isubsequently about $£39,000, so that if pear in the statement of receipts and we had not the money which we re-- expenditures. ks eccived for these mortgages we had the Hon. Mr. Ross--They are debentures (lands. which we hold. I am not able to say | There are the other two items of a offhand anything about these debent-- refund to which I might call attention. ures, but they seem to be good, market-- There is $10,254.33 fo the St. Anthony able securities. Lumber Company.arising from disputed Mr. Matheson--They wore purchased claims of survey, and $9,318.35 to during the past year. f the Ontario Lumber Company, compen-- Hon. Mr. Ross--They were purchas-- satlon' for timber on islands in the ' ed eight or ten years ago. They were Goorgian Bay reserved for park pur-- not specified last year; . they might poses, or $81,000 of refunds, to which I have been included under other dehen-- would call the attention of the House. tures. Then, on pm';l T t?e)aflmm?{n ammvartt is U | sehool fund we have $1,488,482.48,mak-- f Expenditures Within Income. inz assets in the form of trust funds | Further observation with regard to of ©%6,246.617.03. Now, these assets, as the increase in the estimates need not I shall show later on, are believed to be made. The increase of this yeanr's be good, realizable assets. * That fact | estimates over the estimates of 1899 is must be very satisfactory. to hon. gen-- 3-'?{'-(24.83. while the increase in the tlemen opposite, t estimates over the expenditures of 1890 is 35'24!'.44}8.]1. As we discuss these A Hegithy Bank Account: I matters in committee of the whole On current accovnt we have $374,-- | House I hope to be able to show that 76G6.48; on special account we have 1 these increases in all cases are war-- $461,398.77, or bhank balances amount-- | ranted--in fact in almost every case ing to $836,1905.39. That asset, of | have been made largely for the purpose course, will not be disputed. Now, our 1 of development. Of course statutory trouble with hon. gentiemen opposite | Increases will follow, and next year we has been that they would not regard hope to vote something for the these as a bona fide asset, they would improvement of the . drainage of not consider them as properly stated in the country and for other the fAnancial balance--shcet. One of pommmemmmmmmmmmmmmmmmmmmmmmmmmmemmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmnmmmmmmmmmm esmm 222