The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

e MiiSHb ces ic im ne ... -- --._> el 'c ""' s PmA 'Province should be speci: ear-- ym yc g |the yoar s operations I8 °& s l"g.rked for certain purposes,> and | _ * _3 $802,749. " 'used for those purposes alone, the , e C 19e s Takes Fling at Parties. ' Provincial Treasurer stated that he y 8+ > f ies of the ' did not favor the idea. cA . _ "One of the financial critics stab-- "As to ear--marking loans, I am Opposition has undertaken to ed an-- not in favor of it," he declared. "It lish a deficit of $1,700,000, ao'B Det-- cannot be Hone." t j other has gone about $300,0 deficit Moneys borrowed, he explained, 'ter, and is satisfied that the 'i'eis'run had to be pooled. '"It all goes into a is $2,000,000. This sort of critic i8 pot and it all comes out of the pot," fenile mot helpful to Lhs Prov'm:le' 0 he said, amidst laughter. in line with party methods, and s Regarding -- sinking funds for long as such methods prevail we mi?v loans, as urged by Mr. Dewart, Hon. * expect to see Oppositions magn 4 Mr. Smith stated that he thoroughly M deficits, and, if necessary for part» approved of such, and sinking funds purposes, create them. We 'find. hf)w; already were being provided for cer. ® ever, that a business man's view o tain Provincial loans. | This sums the situation is very much different mer sums to a total of $203,000 had 3 to that of ihe politician. been set aside, he.said. + ad "Let us examine the causes which Under the Hydro Act there had brought about the increase in 'the been borrowed $64,000,000, _ and 3 expenditure last year," the I--;rmlxle there had been paid to account of 3 Minister continued. "First of all, Hydro the sum of $77,000,000. there were certain increases beyon | '"Therefore, we still owe ourselves § 8 our control, and these amount to | on that account," he said, "some 1 * $2,016,49%. These uncontrollable in -- $13,000,000.' &* creases are as follows: _ Proceeds from the sale of Orping-- M "Increased cost of carrving the debt ton Hospital, the Provincial Trea. l incurred in 1919, $946,944; general surer said, had gone into ordinary c election accounts left over, $608,-- revenue account, for the simple rea-- &\ 960; debt to Teachers' Superannua-- son that the money to erect that ' J tion Fund, assumed, $460,588, or a hospital had been charged to ordi-- l ' | total _ of $2,016,492. nary expenditure. ¢ ' "These three nems.at'('ount for | As to charges by Jos. E. Thomp-- x J | nearly half_of the increased ex-- | son, Northeast Toronto, that To-- | penditure. Two other items of in-- | ronto brokers, at the time of the { |creased _ expenditure ~ which are disposal of Provincial bonds, were | | worthy of special attention account prepared to pay more than the Gov-- Cag 4 {1'""'""('""-" for the balance of the -- ernment had received, Hon. Mr. |increase. These outlays are: Smith said briefly: |__"Education, $1,610,058; mainten-- | "No Toronto ibroker would have !ance of public institutions, $705,146, | paid 98 for them, for the simple rea-- ¢f or a total of $2,315,804. |son that no Toronto broker would m "'The Government accepts full re-- !assume the Hability. w sponsibility for increasing the assist-- | "When I sold 'that $16,000,000 , ance to education, and it looks for-- lloa.n." he went on, "I had the ad. K ward to dealing still more gener-- | vice of two of the best financial men s ously with that branch of the public i'" the Dominion of Canada. If I service, believing that we can make |told you their names you would h no better investment than in the citi-- 'agree with me. | zenship of our country," declared . "I have had brokers come and tell u Hon. Mr. Drury. me, after a loan had been made, E: j p f | that they would have given me more Ait in --Five Items. , !for it. One broker came to me after 3 '"'These five items of expenditure the $3,000,000 loan and told me that *% involved an increased outlay of $4,-- he would have given me more than | 332,296, which is within $84,000 of |I got for it. I said to him: 'All right, | , accounting for the entire a('tua!_ in | you can have $3,000,000 more at that 3_{ crease in expenditure last year. !price.' 4+ | _ _'"He couldn't get out of my office | ':: Some Capital Expenditures, | fast enough," concluded the Provin--| "3' "Last year our capital expendi-- | cial Treasurer, to hearty Government <% ture reached a total figure of $56,--| 1app1aus¢. 3 963,946, of that sum, however, $22,--| |__Questioned 'by Mr. Thompson as to *'i 313,208 was used to pay off matur--| \ whether he considered it more ad-- ~ ing debts. We have, therefore, to | visable to ad"vertise loans than to | account for the balance, which f |get together "two or t.hrgfa flnangxal amounted to $34,846,402. The great-- men'" in orlder'tmtgientkths?l"ag'?set'he ~~ 5 er portion of this was used in what 'No, I don't had 24 Droker s d ts P may be described as self--sustaining quln'j{ "\"]Tl']c.\- I had 24 brokers con-- % *. o Inuws J > «e ng me. . isg investments. \"\e a.dvanced 3'18.076.- Su"tIxfgvou pad done your bookkeeps ' . t 500 to the Hydro--electric Commis ; a $ id,"" the Provincial tesl sion to carry on works begun before ing the way I did, lt.'e To mc]? we assumed office and which must Treasurer said, looking Peineims 10 6 necessarily be completed in order over the Opposition bencfihqs, pas that the investment already made]! would have shown a deficit every * H may be made productive. We ad-- Yaar e vanced -- to various munioipalitio;:! MEMBER FR(}I&E NORTH 4 under the Hm:sin"f Act 54.236.708.' f , RLUH which comes mainly from a Domin--| far 99 l ion loan for housing purposes, and| TALKS 0?: "QOYLE RULE + which will be repaid with interest. | C 4 i8 These two sums account for $22,.| | o o 313,208 of our capital expenditure.| | "rall omy C m.| Of the balance, $10,882.296, wel | MR. -'1-\(~LA'L Al'a.\.PL:U.\'S> RL«; l spent $1,607,005 for Northern On-- MARKS ON HIGHLY TECH.-- : e tario purposes, which included ad-- NICAL SUBJECT : -"..' v?nvos for permanent improvements l en addess use " «t of the T. & N.O. Railway, for coloni-- ~ r ow o fl zation roads and for Northern and | _ Before the oxde.rs of ths d?'\' uer'ez i Northwestern development. The in-- ;called yesterday in the Legxs;ature.l k . terests of returned soldiers called | Mr, Z. Mageau, Liberal member for ~al g';'; a'{:apital eixl:'e;diturr* of $415,-- Sturgeon Falls, asked permission ofl id % 'e provide 655,000 for edu-- 6 & [ M cational buildings and $910,000 for the House to correct the impression | 3 public buildings. Our capital ex.-- apt to be left 'by a technical inex--| | -- penditure on highways was §$6,6614,--]| . actitude in The Globe report of his | 7 989.7 but of this sum $1.500,000. was « remarks on the Doyle rule, as! % spent on behalf of the Dominion r j | 2 i Government and will be returned to uttered on Wednesday night. | f the Province. We may, therefore, '"'The reports of The (Globe, in so ' a 't'airilty ]climiuai]ei that i:sum from our \far as the procecdings of the House * capital expenditure, in arrivin at f PR ar + r aco 1 R the actua; amount, and it hringgthe ar'e ennfelned, are pxeu§ au,t'u'a,te. | ; E. capital outlay for the year down to said Mr. Mageau, '"and in this case | & $9,382,296, as compared with the I am not blaming the reporters."* , 3 $?4.t(;100.4'f'0 for which some critics The matter, he stated, was very a :ccou;t;:k')'l)e',?'mmem would hold us technical, and what he actually had | § -- said about his personal experience of ' Hon. Mr. Smith's Defense. the Doyle rule was as follows: | Very briefly, Hon. Peter Smith, as l "'I'ha.t. my own personal experiencel Provincial Treasurer, officially As applied to our operations never "wound up" the debate on the Bud-- | gave us one gingle foot more of mer-i get. Hon. Mr. Smith did not go | chantable ti'mber than the actual log| E¥. into detail, but contented himself scale by Government dealers, and : C with dealing with certain specific 'eometimes fess. But _we did, as 9 criticisms levelled by Opposition everybody else does, get an over-- 7 ol speakers at his methods of financ-- \run by way of cull lumber, and again ~~ + ing the Province. l,:k:y we}?etverr g?ltma,nythintgtover;'tm% I Taking up first Mr. Dewart's N i e e MirAaw A# ap it & charge that loans negotiated by the +# ;}3:"','.'"9 we purchased the timber