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Ma\'d'\ ' ' AI I .b t d t S d F | | (Withitegee #¥---- wommmmmmemenmmmmmmmietmemesprs m mmmmem e mame ces\ m a~ j s TFumultuous Ap p | a us e o oik C ; & P P It was a glowing picture | n se ns n s ns obl Of $5%-- Greets Premier When _ that the Provincial Treas-- duuto in round fgures, 1 submit urer painted in dollars and that the Government deserves no He Presen*s BUdge* 1'0 l'Pn'S. In addition 10 the small degree of ('r'edit. in b,-mgm;: L i l o H' C tr d c -- «l1 s % about a debt reduction in an amoun egislature in His Ca-- remendous surplus, he re-- imately three times the a Ts of approximateiy A it p incial ported a reduction of $33,-- sum that was promisef;{-""';' h. "A pacity as rovinc:a 000,000 in the gross debt: Budggl."'\doctlatr;)edaMé'(.wpfxm'z;t- in P 9+ » a se ke f E_ frreasurer of -'.*Z_b.')O().()(N) in the out-- mfe':'!lg«lays pls reason for hope, and w__________ standing debenture debt, it is an assurance of better things and a cut of $12,000,000 in |rto come when the Governmental ['AB'L'T'ES ALL MET t} butstandi PP voaine avpase |\program comes full circle and the e outstanding Treasury | expenditures are kept within the mm en im e ns bills. He told the crowd-- |amount of supply voted by the * « _ _ ed House and equall Legislature." Relief Paid From Ordi« Tooxed uaiierics that this \Credit Stands High. nary Revenue, With record of wise and sound tanos creant hag ibeen injured y S I finance de se rve d recog-- reason of the Government's policies * trict Adherence to | nition from the people of th(e't}"rimo.hllir;ister said thgt not-- 1 1+ the P F withstanding the continued decline POY--OS'YOU"GO SYS- Th rovince. css | of high--grade securities in the Lon-- ¢ _ ap p l a u s e which don market, the credit of the Prov-- i'em. Says Hepburn greeted his revelation of the |\ ince was so highly regarded that ons fuplus was only excended (1 0 | e ons n inet The full text of Premicc Hep by the enthusiasm which g'v.-wh no holders of the stock will-- burn's Budget speech will be found followed his announcement 1ingIto rstoll. der h i PP # J 8 his hR r i ri | "I often wonder how some ili-- C .Pa es 10 and 1 _of. HH fl?at' im l\eepmg ",lth '-h(} fwishor\' of our CGovernment, in the edition. Liberal Government's policy 'tace of such convincing evidence, e 4: C tanal io give the public the benefit 1~..!san Mave M S is lemenis inet # y h poe s N: * + ra y* » Giving the results of what . of any savings, most of the | . tht" cucorepant ns dedtyornd on he declared was a policy surplus, if not all, would tario's credit in London," said the of "sound finance," Premier be handed back to the public 'Pr,',%"'i:'"'&'f"vf;rr-nmem has 'bech Mitchell F. Hepburn, in his :ln tthe fOl'nl1 of drastic "?i blamed for practicing economy, but a -- + uctions along severa it is my belief that the citizens will city ? rov in cia l s ! y i reap ns reasurer. yestorduy ro . | .| "ior channels on o 1 he ht bein "ot as . 's "da * =-- = « + S=] ~80. * aye UcC ad peasurctr, . yestert s For the fiscal year ending | ecused of being an economical Gov-- ported to the Legislature March 31, 1938, the Prime 'ernment. I accept the charge, and J a surplus for the current Minister predicted a surplus 'Z?f: tt}!]wit f\::;al}a;gas'mlg::g ;':lrf::(glhl fiscal vear ending March 31 of $2,282,905, placing esti-- ipolic_v. Mr. Speaker, let me state ue ~ (W ( taalts mated r 0s for the benefit of this House, and of over $£7,000,000--twelve g1oss reventie at commend to the citizens of this times as great as the $94,849,324. Province, an axiom which I believe 'ontemplated in his "An Honest Surplus." holds true in any country in the ?mountttopl'lg'l vear.. 'The "I know that in the political field world. It is this: that sound finan-- orecast of last yCalT. _ 1 NC there is a constant warring of the 'cxal policy and sound government actual figure of $7,347,720, various factions who seek at ail 18";. ms,oxmralbl'?.f A gound ftmia;'nct:l c ar" times to gain an advantage over policy is never found excep e bazcdt O.n ten ":(l)in'u}h f*d'u?:l their opponents; but I am most sad-- case of a sound Government, and an wo months 1Jorecast, ly mistaken if the fact of my today no Government is worthy of the broug ht thunderous ap-- h';lng ;xble 'os report an honest sur-- :'f"t'fi'df'f b'--'"'tgf:"i)?"ad s(gg;;;r?ir:::t P f C n urgant plus of over $7,000,000 to this House at does no § * plause flo "? Guover '_Im(,m does not give the utmost satisfac-- !"ia' policy. supporters, who heard the tion to every member, regardless I __-- Prime Minister describe the of \:;'ht'tlh? h;r s}i]ts Sto the right or & yve exy* F to the left of the Speaker." excess of revenue Over °X-- | _ a reduction in the funded debt nditure as an "honest | of $26,160,855 was also reported by | P I surplus." | }he Provfin('ial Treasurer. By reog e k * Cnaie Phinl raining from issuing bonds repay-- T his splendid financial | aple other than in lawful money of statement was o bt a i n e d ' galr)\ada. and by sinking fund and * k m : 11 ebt--retirement purchases, the Gov-- ?.f"e.l. .paymga all t.lll:l':_'lflt | _ _ ernment had reduced the amounts lab_xlmes and imeeting TNC | _ of obligations payable as to princi-- | entire cost of relief out of | _ pal and interest in London and New | s ordmary --revenue, the | | gouk 0" a sum in excess 'of $24, Prime Minister stressed. i "'As .a result of this and as a re--. mamue--¥nmeAl p | _ sult of careful--and I might say | Pa-' as ?0" Go Polic). | wise--purchases of _ foreign ex.t The Government Leader, | tchamtze att :h&e prc:gerltime. we have | wr + iak o report today the lowest cost of making his third Budget _ foreign exchange on the public addre.ss since assumng of-- debt for many years past," said Mr. fice in 1934, unfolded a | ; Hepburn. story of strict adherence to | 'S':' C;-'d:? Due. t debt at1 44 F, LV 98 ¥# Imere | redquction in e gross debt of the "pay--as--yout--go" policy; | | in« Province by some --$33,000,000 of rigid determination to | '\lvas described by the Provincial obtain every dollar due the 'reasurer as '"taking a great load f in off the back of Old Man Ontario." Treasury, and of unfailing | | He estimated that by March 31 next' economy in departmental the gross dgbt \_v;'ll tbe ?651?,611.588.' 1 without re k as compared wit otal liabilities 't'i';';m(};°3it hriginas Stric-- | | of $680,598513 as of March 31, 1036,