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1/ F4g\ : i ues R : a " 4 P * o o * § yoRe Te C e ie ;fi,f": > ho ' ;. | th ° j Wed. Fab.20° . | $300,000 Lost in Exenanger-------- ' f ppCu,itartled the House with the| 000,000. Deducting the revenue |-- rn the Theatre Inspection Branch 1 $300 oog"':fent that "somebody'" got| producing liabilities, such as the T. there were found to be no cash ment Anan lemhanxe on a Govern--| & N.O. and Hydro, the non--revenue-- | (n5ory They had been burned in s Unitea Sta.f a@l transaction in the| producing liabilities had risen from the furnace in June--"another case Bre:to es market through fail--| $15,000,000 to a net debt today Of ||">"..mning of papers." {4 M i secure to the Government its| $109,000,000, or an increase of $94,-- t T 8ht§01 exchange. _ Amid Pro-- | 000,000 in the public debt. Unlicensed Billiard Rooms,. _ ' gtre?s ve "hear, hears," Mr. Price The Treasurer recounted the new There were also found to be no. ... _ p o:cflax;ieid the Government's intention | Government's two loan ventures, fewer than 377 billiard rooms %m,_ * En ing out where it went. which he thought very creditable. |;n,--~ province operating without f iJml.uning the necessity for reor-- | By simply waiting out the market licenses--"$34,560 standing out on -- : ]gan zation in certain departments, | on one of them it had decreased the billiard and pool tables alone," said . ' ie told of chaotic conditions in the |cost of the funds to the Province Treasurer. In Sarnia items col-- Amusement Tax Branch and the Mo--|from 5.35 to 5.30, which was better |the TTCA July had not reached the | tion Picture Department, and an-- |than the Dominton Government or |lette4 im +UTOPAC "oooror njen f ' nounced a change in the dystem of | City of Toronto financing. He quoted |Cash book un P * ' ; . & ted W. Haney, West Lambton, : administration in the King's Print-- | letters from Sir John Aird and Sir . | PrOMP a cheqaue sent the de» ' |\er's Branch, in which, through the | Thomas White complimenting the to 8aV tha}t;a; g i: turned -- for ' !pq:i}fy }of storing Government paper | Government. part'mf:at:uon en . FeLurR with the contractors, the ow | some *%. of $30,.000 worth of Slfi:f;li(:'s "\ff{'lhm Big Loss on Exchange. In the Moving Picture Bureau the dispute. I Dealing with Treasury bill loans| gaudit showed that the Filmceraft In-- A s || of $10,000,000 placed in New York| qustries, who had a contract from Changes Bookkecping Method. || in April and May last, Hon. Mr. Price| ine Province to manufacture films, | In his opening remarks, which | 8@4i4;: "This loan was placed in NeW\ owe the Province $42,022; and the 1 ; referred to the "high'"'('lter mark i York, and is a llab".'ty of the PrOV" Path"cope owes '565' He ha,d g'ven of expenditures" which the Prov-- || ince in American money. As thest| jnsipuctions for coliection of the | ince had reached, Hon. Mr. Privef bills were discountedaozhe OP;OW"fie former item, although he did not said that the Government had made ' pp.id approzimakely ,di .OtO thordt:ea? know what the result would be, be-- P thosg corrections in the system of mgt';t m&nt ,'," ovl:ggra nci toed &ana- cause a few days after the Govern-- Provincial bookkeeping which it had g}a. °f' ndis fol;. Americacn tr:mds The| ment commenced measurement o.g advocated while in Opposition. Cer-- |fate of exchange from April 24 until| N'ms at the place "they had a fire. E tflln items, such as the Hydro--Radial | May 2 averaged' around 23 per cent.| Like an Arabian Nights story, he - Commission cost, he said, had been lit is fair, therefore, to say that the| Ssaid, was the evidence of mal-- ' f placed in ordinary account, where 'exchange, on these bills would have| administration connected with the f § they b('.longed. and '"extraordinary |netted the Province $200,000. As| Russeli Theatre at Ottawa. The de-- s 0.: account" no longer appeared in |the Province rs~~'v~nd.an'='*=-->= 1| partment did not know the theatre ; Government ledgers. funds the question now is, Who got -- had reopened oferations for some . 6 '"What were the causes of the the $200,000?" time, and when it asked for amuse-- . : $15,000,000 deficit?" he asked. "No | _ Similarly, he said, the Province ment tax it was told that the license § P doubt the causes were the disposition | had lost $100,000 through accepting had been granted to the Allen f ¢ of the old Government always to |Canadian money in lieu of American Theatres, Limited. Upon asking the » angle _ for a surplus, to angle _fo~| on another Treasury bill of $5,000,-- Allen people they ascertained thai ' (Continued from Pago 1, Column 5.) d' 000 of May 1, 1923, Payable in the license really had been issued to 6 something that they did not"have. It | | American funds in New York. The , 'Allen--Russoll Theatre, Limited." | g €.. ® p ; j £ wili be shown that they never even | exchange was aroun% < 19" ce?oéi It a'l resulied in fallure to collect f \ approached a surplus at any stage tll(l)gfi'g"-;or,? the rovince soms $9,000 of tax. .\ in their four years of office. If you | $ C lgz.mey---Have the deputies in _ $31,000 Shortage in Paper. _ will juggle in order dto _appf't);i:g the department no explanation? Audit of the King's Printer has * $ ' ; make somethn'lg Mo mewe ts 7 t},é Mr. Price--I don't know whether -- shown a shortage of $31,000 of Gov-- then you eventually have to pay the Deputy has or you have, but the ernment paper, which previously had ba y penalty. Government is go%nlg to take care b%en stored with the contractors. & * hs. that somebody explains. |\ "'Fancy," he said, '"anybody leav-- * : '! Hon. Mr. Raney Laug Mr. Price dealt at con.s'lderabl'e |ing his paper with the cog'tractor ® f f He went on to tabulate the finan-- length with the Drury Government's |----even the Methodist Book Room." * t *|cial record of the Goven'unent un--~ | dealings with the succession--duty-- |Paper henceforth would be storéd j (r der the new Government's system |free bonds, and charged that it had |in the Parliament Buildings, where ff :: > 4 | of accounting, which he deemed the |instructed its brokers to purchase in | provision would be made. _ $ f sounder method. It was a series of |England inscribed stocks and bonds Further shortages were found in Sn ar t deficits: $2,088,428 in 1920; $3,654.-- |"without ascertaining first what 1088 |ine yand Transfer Tax, in M t [ *' _| 114 in 1921; $2,666,000 in 1922, and |there had been to the Province ON |venijcre Licenses, amounti imatadd A* , $15,195,226 in 1928, making a total |these issues, or what benefit woull | yoims," propably to 350(;'80'0"&"0:1':3' aems 7. .| deficit of $24,499,830, or an average |accrue, by retiring low--rate interest |/,, ding the IATEEr One8 m'entloned': 3 ?)t c : 61'1(1'1090'000 yeery{during Ne boTl,tsc;gether he said, the London |A" a result of it the new CGovern-- ks s 4 # # 3} !"lllhl'iyy x;mgnora,ble friend laughs," Mr. transa;':t!on 'ng :tl.:e Xiaém"' "éra"na?g- ;lne'i'r;ta;}t:elg decided to audit everything ty ' id, turning to former At~ |tions here, an e erenceé in in-- ; Gov fo':rc):y-.aeejeral '}zafioy. "It has been | terest paid in the old bonds and the ffTh'« Government had bent every 'ad | the most expensive experiment that |newly acquired money . at higher fn ortBto see that the Provincial Sav-- 3 [ this Province has ever had in |rates, cost the Province $6,985,615. edgsin «';nlinE:tDartment was conduct-- $ finance or anything else." The Treasurer salid he had ascer-- De s conservative manner. E inded the H f \ tained that the old Government posits had increased during Sep-- : ' mmralive eriuer -- warnines" ot made no survey of loss incurred |tember, October and November pver * Conservative critics -- warnin®s | Of |inrough succession--duty--free bonds, |50 Per cent., and the cost of fi > undue increase in interest charges oug A of Pro s °> |which he stated to be a loss of only |Vincial deposit moneys to the Gov-- s which had reaohed $14,000,000, and $810,201 since 1906. He could not |@rnment had decreased from 7.54 in /¥es constituted itself a continuous bur= |"Ya.rsiand, therefore, how former | 1922 and 5.12 in 1923 to 5.08 in the : i7 d f deglé)ny;l';e I:m:}cs ;:;vtehe tt:;xfigfi?ds Treasurer Smith could have stoog up |last three months. y tated that there /R capital charges piling up," he said, ;f':é g::;io: 1:3'10:8& million dollars To Reduce Interest on Deposits? [¥ f "you will have to pay for it every | in three years. Except in excep-- Increases in deposits had been " year throughout the life Oof yYOUr |rronal cirecumstances, the new Gov-- | K°%@Ping up steadily, but only time * f loan in interest. We must go very, |ernment had discontinued the policy | WOUIG tell whether the situation was ms very carefully in our expenditure of | of buying up these outstanding abnormal, and also whether, with public money, and no matter what | ponds. money costs declining, the Govern-- + [3 , our personal point of view may be ment could afford to continue to pay ' _\ we will have to face the issue fairly. | Audits for Every Branch. 4 per cent. interest. 'xl «c But this Province, Mr. Speaker, with "It will surprise the House to Hydro accounts, he said, were now T haZ its great resources, can meet a $15,-- |know that we have never had an |right up to date with the Govern.-- . w 000,000 deficit, and in order to do it |audit of receli,.ts in the Province." ' ment----paid up in everything. + this Government asks the co--opera-- |he declared, in reviewing what he Concluding, he accused the old > & tion of all parties and all citizens. deemed to be a particularly bad * E+ o feature of the former administra. | Government of running practically j 6-- Political Comparisons. tion and one which the new Govern.-- | 4 13--month year in 1923 in order to (* We "Why, the deficit of $15,000,000 | ment had remedied by instituting gfiig_i)zzignelggpl:ss{imz?g i'o""tfiimi'i'.' | CS this year is as much as the Hearst a"d'lt"e of every branch of the tent of 25 per cent., he declared, ~ p Administration § }:petr'ut on ordinary Sel"}"r;e- situation in the Amusement | Without considering that it requires F3 f expenditure at h. Peg"r;'"'"s of the Tax Branch," he said, "was beyond | More than a pencil to curtail expen» | M a war,. v'vent on the lro ncial Treas-- d: ription." "I tried o --Eive oppor. | ditures. f 1 ! -- ; urer. 'It is three times the amount { :1t pto it's members to 16 business "We have nearly '50.000'000 of 3 ho @8 the Whitney Government spent on |MT a businesslike way, but apparent. | mMoney spent this year. What is _ o ordinary expenditure at the time 1y he thought I did not mean|facing the people and this Govern-- they came in. buslnegs One morning about 9.30 | ment next year? I do not believe | * ~"se . What the financial situation in I went down and I found the Direc. | we will be able to cut that down f 3 o s m rer. was ine sducation of an tor, the Assistant Director and the| more than $5,000,000, the demands p '5g Treasurer, was the education of al} (?hi' f Inspector were all absent. | aTC §0 great, Revenues, which were P > d | Governments _and_ all people in § ee empx;oyees were sitting around | $34,000,000 last year, I believe we ts economy. 'Today, llno instanced, the kmi't'tin and the others reading | Will be able to increase~--I hope to young boy of 10 or 12 years demand-- bn 3t & 1 don't know where . the | Probably $38,000,000, E E | ed a wardrabe, whereas the boys of i Snue was going or what was |__'"There will be no new taxation. > + 3&3'::!'; :ng: :;g:eof%n;;&t with one a.;p pening, but it certainly was poor We desire to give the people an Oop--|-- y q s % » .l' > Assets and liabilities account, he | aAdministration,, These Wiree . have pofi:;xé{g !F'?slfé:? rI:t.tCr.'.inl'ffbe'gl finan-- a % oceeded, showed that the total 1;--. | been removed. ol -- 4A f the Province to d What Mr. Price described as an | Clal critic moved the adjournment : | OR | 2aze $303,391,000, the increase |n |"outlandish situation." discovered by | Of the Budget debate. j A (We E direct lHabilities of the Province over |the auditor in this department, was Jj |the it Metocee ofotis masale wee | cnrrpreycin insy fike PeBdine Loo - h & V § | '::z,so?s.ooo. there wae a widening | pletion of formalities. '"Some of the $ i . out between the two of around $%12 . gg;,gh,"hhe said, "wa.? s.gicking in the f ts j 3 l ; . le when we came in. :