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MARCH 31 the inspector for the Agricul-- * * § Perelopment ~Board " must Ontario Savings Office While the board has been stern ve camped on the mainland and On Dec. 31, 1938, the with those who have shown signs N' wt.d for mth. for an * ¥ * e total de-- of Wl.mrd intentions toward the ; _opportunity to cross in calm water Iposits amounted to $40,575,987, as law, it is a matter of gratification to visit the security and make his _ |COmpared with $38,923,945.61 on ;';'};et;' :'f C o ':;'cj;';'r"tibz'eféf ttlgt!tority 1 eir re-- report. j Dec. 31, 1937. sponsibility, and have endeavored The province was compelled to On July 1, 1938, a reduction of to co--operate in spirit and in letter'l take over this property, and through one--half of one per cent (% of 1 with the provisions of the law and taxes and other costs this property per cent) in our interest rates was the regulations which have been\ now stands at $10,000. Every ef. j|effected. One branch was opened established under its authority. | \fort has been made to effect a sale |during the year, and the branches | | of this island, but the only bid of |now total twenty--six. | 'Hydro-Elecfric Sysfem any account which we have received A substantial increase has been ' > s was a $500 cash offer. \made in the number of individual The Hydro--Electric Power Com-- In some cases the inspectors for |accounts as well as in total de-- mission has been administering mat-- the Agricultural Development Board | posits. This, in the face of lower | ters having to do with "The Rural ghould have been commended for |interest rates, can only be attrib-- Power District Loans Act of 1930." their honesty of purpose. There are |uted to the absolute confidence of Since the passing of this act, up to hundreds of cases on the books |the public in the Government of Dec. 31, 1938, a total of 1,304 loans which indicate that they refused to |Ontario. | _|have been made to farmers through-- recommend loans, but, nevertheless, For the information of the House | _ ~|out the province, the total of which the loans were granted, If the| |let me state that the rate of inter--| |I9""s, amounted to $265,087. _ The Amonies loaned had been disbursed !,s,' paysble on deposits up to $10,--| principal instalments of these loans, for the purpose of assisting farmers, .000 is 14 per cent per annum. matured to Dec. 31, 1938, amounted there might have been some slight {Amounts in excess of that bear in-- ;%stlg'fifii' :indd:tlclut%mgt ltnatlereslt justification for some of the loans, :terest at the rate of 1 pe r 4 o ce oc ne. e ied but th6 monies were paid for every y ~~=~=====--~ per cent P®C C |jected amounted to $191,036.20. 'The purpose other than the assistance |annum or less, depending upon the payments on these loans have been and rehabilitation of the farmers. |amounts on deposit and the condi-- made promptly by the loanees, and Cheques were made payable to" |tions of the deposit. |only a comparatively small percent-- Abrokers, car dealers, jewellers and % | age of the outstanding loans remain many other lines of business of no LIQUOI' Control Board 'mg:r;er:\io:';idn:?\'l):lvd.] 1935. primg R &6 > » F R " 3 3 At » 1 r connection to agriculture, but we did | From Liquor Control Board OP-- _ | lines were constructed in rural pow. assist the farmers to become bank--= _ |erations, payments to the Treasury er districts on a reduced basis--from rupt. Department have continued at the |three to two standard farms per 1 In addition to loans being made same high level as during the pre-- |mile as a minimum. _ Applications to qualified farmers, we see ad-- vious fiscal year, when the sum of were received during the year from _| vances made to those who come $10,500,000 was remitted. '14,256 consumers, necessitating the under classifications with no farm-- Additional thereto, there will be construction of 2'661 miles of new _ ing experience whatsocver. Loans paid to about 300 municipalities primary line and new transformers --* were made to bricklayers, trap-- throughout the province approxi-- etc. s _ _ pers, grocers, architects, gentle-- mately $200,000, same being a per-- Practically all guarantees made by _ _ men of leisure, tile manufacturers, _ centage of their local hotel author= _ |rural consumers for the construc-- _ _ blacksmiths, _ hotel _ companies, l".\' fees. Furthermore, during the ltion of all lines on the basis of three [ auctioneers, cattle buyers, con-- . | YCar, the board, with governmental _ | standard farms per mile were elimi-- _| tractors, milliners, tinsmiths, real sanction, waived claim to exemp-- nated during the year. _| estate agents, insurance agents, 'tion from business assessment and It is expected that 11469 consum-- m'dle'no d."wm". "'c'r'cal en-- "flxatlon on their various plac('s of ers will applv for rural electrlcal _ _| gineers, railroad employees, a _ | business in the province, which re-- service during 1939, which will re-- _'| bootlegger, bankers and tailors, -- | sulted in tax payments to the treast _ | quire the construction of 2,020 miles operators of boys' camps, tourist urers of municipalities in which _ | of new primary lines and additional camps, summer resorts.. liquor stores are situated. _ _ _ transformers, etc. § It should also be noted that money Since the change in provincial The amount of rural bonus which was advanced to buy automobiles administration in 1934, the econo-- 'the provinge has been called upon and pay judgments, satisfy desires |MCS effected and increased rev-- to provide to the Hydro--Electric of friends, buy houses in villages for |°MVUC® derived from Liquor Control 'Power Commission _ of Ontario U relatives, purchase shares in incor-- Board operations are noteworthy. _ |amounted to $2,419,305, and it is fur-- porated companies, play the stock For example: On Oct. 31, 1933--the _ |ther expected that the province will market, pay taxes on property for end of the last fiscal year before be required to pay $2,000,000 as a relatives and to buy wedding pres-- the present administration took of-- bonus for the construction of lines ents. Advances were made on farms |fice--th© staff of the board totalled _ quring 1939. without buildings, stock or equip-- 1,066, whereas on February, 1939, The latest bond issue of the com-- 'ment. The Agricultural Develop-- |'"f number was 860. mission--issued Aug. 1, 1938--was a ment Act was not considered a law The total expenses of the board _ |$12,500,000, 3 per cent, 10--year issue, to be followed as the act forbade a for the twelve months ending Oct. which was sold to yield 3.24 per cent. loan in excess of 50 per cent of the |9>» 1933, were $2,307,647.16. For the 'These bonds were issued to pro-- value of the property, but, never-- last fl'S('al year which ended March vide funds for capital expenditures. theless, many loans were made in 31, 1938, same were $1,793,685.56, a s excess of 50 per cent, while in other reduction of $513,961.60. Public W elfare cases the true values were inflated Payments by the Liquor Control in order to justify loans of 50 per Board to the Treasury Department Old Age Pensions. cent. Instances where funds were durlng the first named pel'l.Od were In 1937 the muniCipal Contribution advanced for building purposes but $5,935,000, as compared with $10,-- of 10 per cent toward the cost of no buildings were ever placed on the |500,000 for the last fiscal year. . old age pensions was assumed by property, and the money diverted to Dominion Customs and Excise the province. This 10 per cent other channels, are too numerous o | |levies continue 10 be a major por-- _ |amounted in the fiscal year 1937--38 mention. Between the years 1929 tion of the cost o_[ liquor, and, dur-- to $1,149,135.83. I_n 1938--39 the 10 and ,93; we have on our books a ing the present fiscal year, the Do-- per cent contribution was $1,170,000. list of loans of over 500, amounting minion Government will receive in The estimated saving for 1939--40 to tr; szmonm where tund's were used | Customs and excise duties, sales and the municipalities is $1,200,035. This for purposes other than farming |excise taxes on our purchases for _ |saving is based on a gross expendi-- operationé store sale of spirits, wines and im-- ture predi;:ted on the normal in-- Every ;flort is being made to ported beers, about $6,000,000. Ex-- crease during rgcent years. In ad-- rectify the grave- wrongs which re-- cise duties and sales tax on domes-- dition, the p{'oymce.bears the total Ited in the present condition of tic beers which have been sold'ln cost of administration of the act, :: defunct Apricultunl Develop-- Ontario during the same period with the exception of work done.by * eBn a 'F bein will amount to about $4,600,000, and the local pension boards which ment PORril-- :;m e:;s T a .: further income from excise and were formed in 1938 to assist in the gjven evel:'y ct:'nster': (}nt;;; ov-- sales taxes on native wine sales administration. The majority of aiaots u; C i(t.l o : llectghas from native wine shops will amount members of these boards serve with-- ernment to Hau att: 'ndi(f'?cult by | to $150,000, making a grand total out remuneration. been made extremé ff t + di)- of Dominion Government revenue Ontario municipalities have never reason of the upsat hlae ors{dconbl from Alcoholic beverage sales . in been called upon to contribute to o ue oioie e e n d"a € Ontario of $10,750,000. the cost of blind pensions. This is| portion of the loans were made. With respect to the premises: |by reason of the fact that the On-- of authority holders, it can be tario Government has never passed stated that the hotel accommoda-- back to the municipalities the 10 per tion throughout the province is ce:l'; C'}'\""'bl')"'°"h'"h'c"b;""t'z:?nn';';' ¢ * mally have been borne = ::::'ypr.l:? r:':e;l":\e;nu::tw::.z der the Old Age Pensions Act&under f 'which blind pensions are adminis-- h:-.em"onll '::""::'w':"tm:':d.fl::: | tered. _ In i)937-38 municipalities ' Terther® improvement | wl un . oulds"tle Mn . Dola have been questionably be made. $24,500, The estimgagd saving for § '1939--40 is set at $26,000. Previous to 1937 the province and municipalities contributed on & fifty-- fifty basis to the cost of Mothers