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Page Four THE COLBORNE EXPRESS, THURSDAY, MAY 13th, 1937 The Treasury Department of the PROVINCE OF ONTARIO Announces the Results of the "Pay-As-You-Go Policy" for the Fiscal Year, April 1, 1936 to March 31, 1937 Statement of Ordinary Revenue and Expenditure for the Fiscal Year ended March 31, 1937 NET ORDINARY REVENUE Department Agriculture ...................................................................................................................... Attorney-General .......................................................................................................... Education ........................................................................................................................ Game and Fisheries........................................................................................................ Health .............................................................................................................................. Highways-- (a) Signs, Pumps, Garages, etc............................................... $ 298,076.18 (b) Gasoline Tax (less reiunds) .............................................. 15,761,876.97 (e) Motor Vehicles................................................................... 10,916,491.08 Insurance .:...................................................................................................................... Labour ............................................................................................................................ Lands and Forests.......................................................................................................„. Legislation ...................................................................................................................... Prime Minister............................................................................................................ Provincial Secretary ...................................................................................................... Provincial Treasurer--(including Succession Duties Collected, $15,991,350.80) Public Works...............................-~............................................................................. Stationery .Account--(Excess oi Distribution over Purchases) ............................ Amount > 807.65 1,290,603.33 1,803,92 782,217.63 38,485.95 237,840.86 7,316.17 2,974,907.54 6,927.07 2,110^81.32 22,632.20 680,750.23 45,344,211.91 7,283.34 5,626.60 NET ORDINARY EXPENDITURE Department Agriculture .............,............................................................................................._.. Attorney-General ................................................................................................... Education ......................................................................_........................................ Game and Fisheries................................................................................................. Health ..................................................................................................................... Highways................................................................................................................ Insurance ...........................................................................................................-- Labour ......................~..............~...................................................................-........ Lands and Forests..................................................................................................% Legislation .................._......................................................................~................... Lieutenant-Governor ............................................................................................. Municipal Affairs..................................................................................................... Northern Development........................................................................................... Prime Minister..................................................................................„..................... Provincial Auditor ................................................................................................. Provincial Secretary..................._.......................................................................... Provincial Treasurer............................................................................................... Public Welfare ....................................................................................................... Public Works........................................................................................................... Miscellaneous--Including Workmen's Compensation Board-- (Payment to Board, $47,458.15) ................................................................. Amount $ 1,546,471.94 2,290,164.08 10.001,950.31 446,131.57 6,128X123.08 4,931,306.65 65,247.87 270,973,87 1,890.019.83 2 70314.38 12,459.73 319,660.58 63,053.57 1,407,475.63 153,896.20 112,577.29 863,237.41 962,164.58 5.005,388.34 565,698.28 54,238.58 Public Debt--Interest, Exchange, etc..................................... Unemployment Direct Relief and Administration thereof ... $80,488,439.95 --_ - -v RECAPITULATION Ordinary Reventie and Expenditure Ordinary Net Revenue as above..................................L.................................................................. $80,488,439.95 Ordinary Net Expenditure as above (before providing for Unemployment Direct Relief).... 57,904,444.12 Surplus--(before providing for Unemployment Dhject Relief)............................................ $22,583,995.83 Less--Unemployment Direct Relief and Administration thereof...................................... 13,270,057.29 Surplus for the Fiscal Year ended March 31, 1937............................ $ 9,313,938.54 THE DEBT POSITION OF THE PROVINCE OF ONTARIO As at the close of the fiscal year ended March 31, 1937 GROSS DEBT As at March 31, 1936..................................................................................................................... $689,558,513.76 As at March 31, 1937..................................................................................................................... 656,460,348.37 $57,904,444.12 13,270X157.29 Reduction in Gross Debt for the Year.................................................. #33,098,165.39 DEBENTURE DEBT (LESS SINKING FUNDS) As at March 31, 1936 ...........................................................................„................... $ 594.112.954.50 As at March 31, 1937.................................................................................................. 567,973,130.86 TREASURY BILLS OUTSTANDING Reduction in Debenture Debt for the Year..................... $ 26,139,823.64 CERTIFIED TRUE / Reduction in Treasury Bills for the Year.................... #12,000,000.00 In pursuance of a promise made during the Third Session of the Nineteenth Legislature of the Province of Ontario, I take this opportunity of publishing, for the information of the citizens of Ontario, the above financial report, together with this announcement as to the plans of the Government for passing on to the people certain benefits made available by reason of the surplus of $9,313,938.54, realized last year;-- MUNICIPAL DRAINAGE AID AND TILE DRAINAGE DEBENTURES A reduction in interest on Municipal Drainage Debentures and Tile Drainage Debentures effective April 1, 1937, from 5 per centum to 4 per centum. PASSENGER MOTOR CAR LICENSE FEES A substantial reduction in passenger motor car license fees will be announced before October 15 next. LICENSE FEES ON COMMERCIAL VEHICLES Effective on November 1, 1937, when the 1938 permits will be available, there will be a reduction of 25 per cent, in the fees to be charged for the registration of all farm trucks and all other commercial motor vehicles and commercial trailers. PROVINCIAL SUBSIDY The Provincial Government will pay, by way of a grant, to every city, town, village and township of the Province a sum representing the equivalent of one mill on the dollar of their respective assessments for general municipal purposes. This grant is made unconditionally but in the expectation and with the intent that the amount shall be passed on to the taxpayers of every community by a reduction of one mill in the general municipal tax rate. This subsidy will amount, in the aggregate, to the sum of approximately $3,000,000.00. ROAD SUBSIDIES TO TOWNSHIPS The 313 Townships which have in the past received subsidies of less than 50 per cent, will enjoy an increase to 50 per cent. The annual benefit to the 313 Townships will be approximately-- 8300,000.00. OLD AGE PENSIONS AND MOTHERS' ALLOWANCES To further take the burden Off real estate, the Provincial Government will assume the municipalities' share of Old Age Pensions and Mothers' Allowances. This will enable the municipal councils to reduce their taxation by approximately $3,500,000.00 per annum. PENSIONS FOR THE BLIND The Province will assume the municipalities' share of the cost of this social legislation. It is estimated that the municipalities will therefore save approximately $100,000.00 per annum. AMUSEMENTS TAX Effective June 1, 1937, the Amusements Tax will be totally abolished, As over 80 per cent, of the amusements tax is collected from admissions of 25 cents or under, the benefit, largely to citizens of lesser means, will amount to $1,500,000.00 for the year 1937.