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March 1 enriiettrenteatineniageiiianatregprncsw ' C l °C 1 J o tle-lmmedbytug'm'memmm? a A ice during 1933 was estimated by Dr. Simpson at es IMHanCcIn it maed : sated uh moind . ** the money?" asked the speaker The January bond issue next took k Dr. Simpson's attention. He recalled * the $40,000 payment to the commit-- § rm Ssal e tee of experts, and the silence of the 1 Government on how much of the issue mhtak&upe:ym trrtx: g'xgmuggns from + re | questioned that there was much It{;g n Su re S Ove | the Premier's statement about issuance i of bonds in small denominations, since | S ?;:t&mfi"l Osethe smalil investor would no' Dt Mounts Too Rapid! f g:)ew Arh;impaym;ntthea.nd t,rthNg;them |proflt§ had beent :?idel:in tg(l) tgl('e?xl-w(r:ggtf De 3 e , an great Hydro en--'| As for th ; d Se" Boo .apl ¥» terprise ;:sljndmhave been in a vastly 4 h pee me wondéted " Whs Bon sounder r . 8 , Learing Too been under the a::?gu: cgi}d 21(1);'1){(':&1:: 'I'&e 'sCsit,y oo O eees got 10008 for Hl h ll'l terest r« | BR&E overhnangs #." ue, much more than did the , an xov He then made his call for resigna m%bogdh;a llss'r),l he hargdajnno doubt i ) k 3 ® 6 d 5 ernment Deceives Tax-- 2:3 of fi?:m&l;'-:en()tf <tcxgcme;ns$smflg much too cheaply, a.tf«g mat theplgi%irs-' appo & ince could have easily received payers, S t a t es Dr. from political connection. much more money for {hem 'I':he Gv(e)?-z é Sim Increase in Debt. 'ernment's sole object apparently is to pson Reviewing ten years' record of the |Provide a high rate of interest for es es k mn'l GOWMent_ y. simpgon idle funds in th-e hfl,nds of insuranCC saw the outstanding result as an in-- COMDanies, banks and loaning institu-- HYDRO CRITICIZED: crease of $240,000,000 in the Prov-- ; tions." y + j ince's capital debt; "in other words, |,_In brief reference to the Highways LIBERALS PRAISED *# »o* takes a third of the total an-- Department, Dr. Simpson wondered nual revenue of the Province to pay ; WVhY the Government should pay the the interest charges on debentures." lAT8e tax to oil companies for the col-- Béx: 3 He recalled Sir John A. Macdonald's l@Cton of the | gas tax when they etmd the maze of Con-- words, that:j"Granwd a full treasury, 'g'o'f&ee";i Te ooo in in Ihe, saine servati > tau, , &A strong majority and a small Oppo-- ng system in order to take ative bookkeeping lies @ &igon, and you would debauch a com-- |CA&TC Of their business, I feel that this $.3,.000,000. deficit, the Oppo-- mittee of 'angels" 'The provisions 'Govemment. is practically paying sal-- gition's financial critic told | NOR {hert, and to doibled that the S eiiser "oe promies thom ihat it x uT. o rernment could qua as angels. 2 mise em that if the Ontano Legnslatut:e yes--' Comparing Provincial ind Drg:in- the Liberals were returned next sum-- ferday. Dr. L. J. Simpson ion records, he observed that» On-- mer there would be reductions in both (Simcoe Centre) trimmed a|!*"0® 4¢b had increased in aimose |(0§,20® MX And Abio litense fess ME ¢ _--__----_ m '*mountainous ebt" I million here and a million | ©xa4ct ratio with the decrease--under |Province made business men \(\)'Emc;t:x? there from Premier. H °" |the Liberal regime--of the Federal| said Dr. Simpson, how it ever could fi . C a r enry' s |obligation He questioned that relief| be paid. While doubting that the debt igures until fma"y the Goy-- | needs were the main cause; rather | ever could be repaid with present poli-- ernment's claimed $476 000 ) had the increase been '"largely due cies in force, he said that when the 1 * w » to administrative expenditures in the||time of payment did come "the rav-- surplus .ad dwindled far be-- | gifferent Gepartments, until today we | ages of time will have done their work low nothing. have the appalling debt of $592,000,-- l on the capital assets, and nothing but 'Tottert 6i L 000." The figure was alarming, espe-- ||the ruins will remain." The Govern-- ng Finance Depicted. clally since the public accounts | ment constantly was seeking to stimu-- Leading off for his side of the Showed Provincial assets with a bare |late a "passion for Ontario bonds. House in the Budget debate, Dr. MArgin _ over Provincial liabilities, "If |New money is being procured each Simpson drew hearty applause for his Ubis _ Province were _ unfortunate |Y9&f. first to pay the interest on the picture of a top--heavy, tottering fi-- | CDOUSh to have another ten years of |Old bonds, and second to pay the an-- nancial structure which Conserva-- | TO"Y "U», our Habilit'es would be far 1nua.1 interest charges on added debt. * tives were attempting to camouflage 'm excess of our assets." Debts of |It would be bad enough to renew the with a fictitious surplus, Further, he | Other Provinces were rising at far less |AOte and pay the interest, but when mm tfihat uToryn Hydl'o CODI' | rfi.pld a rate. ; eatch time you add tlhe in'bel'est to the missioners be ousted: promised re-- The statement of Premier Henry |NOte, that is back--breaking in the duced gasoline and motor taxes under | tR2t Ontario's tax policy was merely | °Nd," a Liberal regime; denounced "bargain | hC S2l¢ of services to those who |,, The Liberals would undertake after prices" for Ontario bonds sold to | W:Shed to buy was Cescribed as "most the election a complete overhauling brokers, and concluded with the foi-- |Ii!CUIOUs®" by Dr. Simpson. He called |Of the fAnances of the Province and lowing amendment to the Supply mo-- | the attention of the House to a |&" honest endeavor to meet the wishes tion: "This House condemns the | splendid editorial" in The Globe last |Of the people, thus giving them sub-- G;z:mmem for failure to reduce tax-- lsgltlrmq:g.il gg Wotuld bie well worth |Stantial debt reduction. L a and deplores the enormous in-- | C get copies and send crease each year in the public debt." ;thcm_. to the electors, so that the § Dr. Simpson's speech g'as followeg | PruPi@ may have a true picture of by contributions to the debate by A. | OW AFiO,taxation," he said. 1\'/. W)atell';' (Conservative, Cochrane Itu};nepe:'Oft:xanGo;/ergmm,al expendi-- orth), D. J. Taylor (Progressive, fam'ly in Ontario had risen Crey North), E. J. I\{urphy (Coxlx.:es?v':: from $9 in 1901 to $80 in 1931, re-- . tive, Toronto--St. Patrick), T. P. Mur. | MAIKed Dr. Simpson. | "One wonders ray' (Liberal, Renfrew South) and | 'PAt it has been possible for any Gov-- : Frank Spence (Conservative, Fort | *DGUIOP C [ N0 Such, lavish use for -- 'William) and Earl Hutchinson (Labor, taxpayers' money." Kenora). 'thm l:l)ilép';)slt.ion critic quoted from ccoun m;.:cg":::e& 'current uabilltiestswtg'eashlg:vv;hattfiammllg finarntely attempting to musicad and égazsfxsmgglo o . Ungmonament B f an )' » * j T deceive the taxpayors, who always, | costing '315 6%01 00})I x;employxrient o on ultimately, must the shot," said | bee ed t e secount" e pay r10t," said n charged to capital Dr. Simpson at the outset. He de l omm lhSt year's o * E k e denied noted the absence from last year's ac-- i the Premier's charge that pessimism Ccounts of the "write--off over five * was the dominant feature of the |Years" in the matter of relief. Had Liberal attitude toward the Province's |this policy been continued in 1933 present and future. Not Ontario's "'according to your own bookkeeping" resources, but Conservative reckless || there would be charged an additional ness made his group see the dark side || $635,000. '"There would be no surplus, . of the p;gmbr: The peogle are de.| but a deficit," said Dr. Simpson,. "And P might wit be migleds to louger ||noed Bodget, | in Tooke m * though through the extravagance of this, the! the surplus was provided %'3! atrl:g}: _most extravagant Government that ing your bookkeeping with that one -- ever "E."'"d anywhere in the Do Particular end in view: to attempt to minion. make the public believe that you l" In p;:'mgmf?; Sigmsm 'g;ue mf & balance when such does not b'm Imlry v' * ernment," saw some good points in | that Administration's record. It had, De.;.';:: C oi f ; .\ he said, called a halt to "the whole-- . _ fc, (ACWAted deficit, said the | sale robbery of the Province that had $05%f(** WQUld have grown to $2,609.-- | been going on in the Department of | y yca;' & fitm of he renor obat ied mm and mg"'" and it had killed ' Wcal'. &A t-hmOf the relief cost had * "ruinous" Hydro radial policy. In been harged Oflflmry account, ; the same connection he denied warm-- |[Al\¢T,'OA", All to capital He re-- ? x the frequent Conservative charge | ked on the omission of any provi-- f | the Liberals were the enemies | §107,/0" the Government's debt retire-- | ___-- _ of Hydro. But, he added, "if we had ;th policy, announced in 1927. As| had more enemies of Hydro's extray.| T8 38 he could find out, the entire | t during the last few years, we | Sinking fund that the Province had in-- | : mklnothtveh:'dsomeortbehn-iWw"]"'tm"'m'm' mense purchases power in Quebec, |