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. FEBRuUARY 16 . Relief No# Capitalized * >,.. 7 M People F6 Jn In order to summarize the resuits _ P/CHUr@'s Other Side eople to Judge g: dti';': rt;rdrixery ex;lnndlllture and the In dealing with the gross debt thl am content to be judged by tion to the to';;:;vln" Itomy, atten* _ of the Province let me say that the e people of the Province of On-- t g items: tario in respect of the increase of | -- y--~-- ---------- _ increase in the gross debt from Oct. eighty--one million dollars in the Gross ordinary reve-- _ 81, 1934, to March 31, 1940, amounts gross debt of the Province when nue Ay $98,456,000.00 to $81,488,530.75. To call this an in-- I am able to report, as I do toda 2 1 %***+*++««.+.«. + 598,406,000, crease in the gross debt without ¥> Less: Gross ordinary that during the same period we expenditure before showing the other side of the pic-- have an increase in the tangible providing for un-- |ture and dealing with what might capital assets of the Province of _ employment direct , properly be called the investments 146 million dollars, and I like to _ relief, provision for of the Provipce. gives an incomplete report having conirlbuted to ts | slnkir'tg funds and and misleading impression. human resources of the Province -- |\ _ maturing _ railway ___ _ For the period that I have men-- a sum in excess of 226 million | _ _aid certificates.... 92406,632.00| | tioned, namely, Oct. 31, 1934, to | . dollars. Surplus: Before pro-- March 31, 1940, during which the | It may rightly be said of Govern ' viding for unem-- gross debt shows an increase of ments that, long after they ha ; employment direct $81,488,530.75, the Province has disappeared and have been rgl vd relief, provision for made capital expenditures, with by others, their records will bp aced sinking fund, and corresponding increase in capital and their succes fail rigy: i assets, totalling $146,308,803.76. For ised in as they mame k maturing _ railway praised according as they have de-- aid certificates ... 6,049,368.00 :h;I '"'°":'::|°" of the House 1 veloped the material and human re-- | _ According to the public ac-- d'ltu':'e: :n i lm::;,t ::fa:.hmaf;?:i sources of the organized society for l counts of the other Provinces of this increase, the Province is not _ WAOS® Wellare they were for the | the Dominion, direct unemploy-- poorer, but richer; for in the mat-- tln';'fieb::tg'cl:fiipg? Stll?gei'rovince will ment relieft is charged either in :;" :' h:::'"': al'one we have : very in an amount closely following whole or in part as capital and m:'t'elr:clts mlll::sdo?:l:lr:r?xq:; the amount of the gross debt. The not as ordinary expenditure. It is these _ revenue--producing _ assets exact amount of the variation can-- not my intention to charge the and, as you will see from the _ "°¢ hg:'e b'; stated i;ecgusie of tge io contique as m moplppany | Stitement --of nevenue for the | | HEOERNLY tsA td A <rhioh to continue, as in the past, to con-- present fiscal year, the revenue amous * 0" c o : welggs ancesd)w i | sider it as an item of ordinary from the Highways Department . TS N or e:tef_ orloutstan ns at | expenditure. Therefore, charging | _ alone will exceed 33 million dol-- _ '"% °4 Of th* fiscal year. Full de-- | back the cost of unemployment lars. [ ie mm j ;":::" ';:";'h:'.':m':;"'m""t"': Further, I take this opportunity, tails of the change in the amount | s 35 3259.67.2.06 when discussing this increase in the, Of the net debt will be available [ Arrerausk¢airi@*ss6s s+r +9 ShOUunD iY gross debt of 81 million dollars, of| When the public accounts are | Provision for sinking --*a,| bringing to the attention of the| brought down. |_ fund .............+++ 1,038,655.00| House some of the investments of The indirect debt of the Province Maturing railway aid iC uns | this Province in the human re--| ; Will show a decrease of some $7,852,-- certificates .......+*. 85,970.00| sources of the State. During this | | 000 in tthe present year. The only s <[c,c,.--27,z| Deriod under review we have spent| | EUarantee given by this Govern-- All making a total of.$10,494,297.00| on education, in round figure: 59| | ment in the present fiscal year was hea's i =------*|! million dollars; on health 40 mil.| |One to a co--operative association in This shows a deficit on lion dollars; on agriculture 9 mil-- the sum of $5,000. All other items I the year of aa*+a«ae«e«s.$ 4.m.9m.m lion do"ars; on unemployment gntermg into the Contingent liabil-- With the permission of the Mouse,| direct relief nearly 73 million dol--| | ity account are deductions. I shall now place on record an in~| lars; on mothers' allowances 20 With the permission of the House terim statement of the gross capital| million dollars. | |I tatbllq g.lstatement of the contin-- receipts for the fiscal year April 1, gent liabilities of the Province as 1009, to March 31, 1040, being ten | geg, particuinint with tnis henP of | |St Mareh 31, 1960, showing an asio m°'t"h'-} l::m:;t?rggt::'o :gfa,;th:a;oi:;! mothers' allowances. The greatest| | "4t°d 'decreasc of $7,85241747. cast. | wealth that this country possesses 1 receipts are $17,516,470. . __| 1s its children, and in assisting the Year; Eshmafes The increase in the gross Provin=| mothers, who are for the most part| | _ Permit me, Mr. Speaker, to cial debt t.his year amounts to $24,-- widows, to educate and rear their| Present to this Assembly the esti-- 482,230. With the permission of th¢e' children and bring them up to be| MaAtes for the coming fiscal year. House, I shall place on record &A _ poog and valuable citizens of this| In preparing these estimates the gletall statement of the estimated Province the Government has| Sreatest possible care has been increase in the gross debt for the . arpjeyeq something that is worthy --taken in order that we may clearly year ending March 31, 1940. YoUu _ of the highest commendation. This Set Out to the Assembly and to the | | will observe that, although the _ Government can take credit for hav-- people of the Province what finan-- gross debt has increased by thesum _ ing increased mothers' allowances |Ci&l plans have been prepared for of $24,482,239, there are capital diss py extending to the mothers with |Catrying < on the business of the bursements for highways, Public one child the allowance formerly |State during this war period. buildings, and D"bli'lcl."o"k-"li'*mount' denied them. Far be it from me to paint any ing to nearly 26 million dollars, t Old--age pensions and pensions | dark picture. I realize, as do we for the blind amount to $14,000,000, : all, that we are in the second phase and there is another item which is ; of the great war. There is no in the nature of a rebate to the tax-- need to emphasize this point today, -- payers. I mean municipal subsi<« but, realizing the responsibility that ldies. We have returned, since rests upon Canada, a responsibility these subsidies were introduced, a that must be shared largely by ' sum in excess of 10 million dollars . this Province, it is the considered to the municipalities, and this sum ; opinion of the Government that On-- has been applied directly in reduc-- tario must give leadership to the tion of the taxes paid by the rate-- | rest of the Dominion. This richest, payers of the various municipalities. | most prosperous, most progressive A statement showing the various | part of the Dominion must not be-- net ordinary expenditures which go |tray any faltering in this time of to make up the $226,664,761.85 is, | testing. No greater disservice with the permission of 'the House, ' could be rendered the Dominion tabled for the information of the or the cause of the Allies than that members. this Province should forecast a deficit either in ordinary or capital e accounts, and no greater disservice could be rendered than by a Gov-- ernment attempting to deceive itself by allowing estimates of revenue to . be founded on optimism. _ We must be sure, and I believe that we are certain--as certain as human fore-- sight makes it possible--that we budget for a surplus for the year on which we are about to enter.