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m .1923 it had risen `or ."194,000,0 00 in four 0 ea1's. .-` ,I want to be fair in this comparis I - ` .That money was not all spent on a `productive development. I II There was $76,000,000 charged `Hydro, .5`-"T,.300,0 00 to the Tinskanil . . `and \'o1'the1'n Ontario, and $10,00 4 7 I000 to the Ag'riicu]turaI Dove Ioprme ~Boa1'd. Out of $194,000,000 tln \ [1 was $106,000,000 spent during` thc , \ I , _ ._ . __ I years on ieahzable reduclble asse There was $55.000*.nnn ennnf M. Lu ..... F. nuuu 1058 than t have been taxed for any y "1 1874 and 1878. amended estimates for year are: Rer-Pint: +'m. r< ::_v L,zmaman securities standlj the English money market other colonial secu1'itic.< in, l. ' LIIIO: was caused by the} deposits in the post ofce anks, but the increased de- put in the banks and drew int. interest. Thus though : an increased increased receipts, and an . I expend1tu1'e, = ` iii] Of $15.00 '99 n..,!.. I- ,_ -. \._v \.un;_.uli:L\lZ(.`(l EHO act, \\'l11Cl] we would also 3 the careful V Though the e:\'penditure 'as :1 the year before, : was necessary for iturc had been yet if 01 (HH- .n1Inl|+f\r' million and a half 1 attention of ` l 1 ,uuuu-vvuhb; v.\.lZ-`).()'57 on a work the Government to pe1'fo1'n1; militia, 1d so on. nv no extra tax upon the instance. the increased upon public works and 18f) 8;17. 1`-hp ;l'1r|1-(inn Many of the I -um: way, causing`. 1 and imposing` no the people. _v empha: the >1] re \\`nn1:-I -Mn :ssa1'y IO)` o1 been collected vould have horm- .... uuuscla opeecn,' day by Sir Leonard. notice the extremeIy'f Lcter of the general 1 : year. Last year it ; tking into onmmm. I- ..u uavc UL;`L J1v mted to thir- ess than they ff)!` tun: Iitinu wu._v year T'S a wise wish on your part to want an Electric Refrigerator-- you save food and money-and can make an amazing variety of delicious frozen desserts. Our easy payment plan and low price now makes it quite possible to own one of the finest electric refrigerators money can buy--at a cost well in keeping with current family budgets. ,. -... )` `P UnderJ:c11e provisions of the C..\'.IZ. t. ension . ct, non-contributory, T31 `-[employees were retired during tlu. `- ,ca.I:.-ndar year 1932. Pensioners uud-r - [this kiact &V'}(:)c dlied . r1u1';ng,'O the _v at iw_I1um ere. -1, eavmg 1 recen- -'.mg` penslon at the end of 1932. Un- njder `ghe Grand Trunk Contrnbutory 1 `Fund,_ which was closed tp new mom . bers_m 1908, 144 remamcd on the pensxon list at Lhc end of 1932. Under thp ThfnvnnInn3n1 -and l J..:..__ pl:H.Sl0H ust at we end Of 1932. - Under the Intercoloniai and Prince ) Edward Island Railway Employees` {'Provident Fund Act, a contributory , plan closed to new membeis in 1925). 2 223 were placed on pension during `,the year, 87 pensioners died, and `1,536 remained on the list at the wt! of 1.032. - |Lne avprage yearly decit to have been_>,422,132,571, inclusive of east- ern lmes. -rv u .. v 'ul'cl.LCl'lZU and miscellaneous, `$16,846,- -,875, 01' 38.20 per cent. Despite the -,drastic economies put into effect, che lloperating efficiency of the Canadian }National System was maintained. in !!general, the indices of operating fseiciency, by which the larger rail- -jway systems gauge their pei-fo1'ma.ncc, :show few declines: and generally show I imp1'ovement. l\rn.._A ,...-..-...., uuk:-buil'(l 01 the passenger `` train .~,'e1'\'i(-e operated in .1.`J29. Economy Measures _ Exainination 01' the operating ex- penses, says the report, shows the results 01' sLl('CCSsl\'(: measures 01' economy. in 1925) operaung expenses :were reduced by $751,401 as com- &``pared with 1928, and in 1930, by -,which time it was evident that the depression was not to be short-lived. `operating expenses were reduced by $26,692,739 from those of the prev- ious year; in 1931 there was 21 reduc tion of $29,483,433 from 1930 and ,in 1932 `L further reduction of $44,- -104,834 from the 1931 gures, the operatin` expenses of 1932 being. $10l,0'O ,0O0 UI1(iG). 1925. The 1'(=dm-Hnn n4` :1-,1 ,1 In.c nn. .;uu;,u'uu,UUU undex reduction of $44,104,834, ur `22 per cent, in railway operating (W-- `pc-nses in l932 as compared with 1931, was diivded as between labor 527.257.S)50 nu {'1 on ...-- ~ I ' )_ p... t.\:IAl... ueiow mat of 1929. Drop Losing Services The elimination of 2; g'1'eaL many unprotable passenger services has been brought; about by a severe cur- : bailment of passenger train miles. Some idea 01' tne extent of these re I ductions may be gained by realizing that they are equivalent to wiping out practically one-l,nl1'(l of tne ,_ __ 5 _.,-... ..m;ua1\ l:, lb` 3.5 IOHOVVSI ; Aver. Number Compensa- `jg Year of Employes tion {K1029 ............ .. 111,383 $177,037,682 3 1930 .. 101,046 159,980,994 ` 1031 91,416 139,784,630 f` 1932 76,616 106,911,608 `_ In addition to sta reductions, all employees of the system were sub- jected in 1932 to (il}Cl'(:`Z1SC in rates of pay. The economy effected by " these (1e_-:':`:1:-'3 in rates of pay re- ? duced the p.'-1_v1'0ll account by more ; than $10,000,000 pm` )'cui'. The V supe1`\'i.~'0i'_v payroll of the Canadian 1\'ationa1 System was considerabiy : reduced during` 1932 throu,-:h the con- : solidzition of op(:1'21tin.,". di.~'t1'icts and ; di\'1. by the ..boht1on of a num- ' ber of positions, and by a general re- ` a(lju: of sala1'ies, so that the ` cost of supe1'\'isi0n of the system is ` currently at a love] 0pp1`0.\'imatuI_\' 35 per cent. below that of ' Dron Losing 9-av-'3--~ s has oper- on. London, `h, Scntiund, ` uvxn -the previous year :{$48,264,28l; 1931 saw 5 $50,462,939 from 1930, E the decline was $39,401, ' pared with 1931. The 1 ' in 1932 \vr=,m .~:1m 1n9z were $161 pared with .$312,28 cent I\ ,,..r,uu:, as com- total receipt ,103,594, as com- 6,031, or 48 per ,,___.,_. uu nut: il.l1'1IlCluSlV `system sI.owed a decline of $13,053,- 649 from 1932; in 1930, the decline from -the previo ($48,264,281; ` ' 1930 ... ma panaaxan Nation; gross revenues on the system 1 '64.`) 1927- h. 1n-2n (Continued from nage one) penditure was fully appreciated by i the Canadian National System man- ,'agement, and strict economy was lipracticed in all departments. The ,[ratio of operating revenues was :[_)6.34 in 1932 as compared with 99.41 ;m 1931. i_ Since 1928, when an all-time peak `iin -railway revenues in this country was_ touched, the trend of railway ea.1'11111gs has been steadily downward. In 1929 Canadian National Railways all-inclusive Isystern decline of 24:12 nvt Ofcial Salaries Cut the Unirml .Q+c.m= mm uupu an compared with liivded or (`L80 per cent., and miscellaneous, 0 per Dnunifn Hm us &\l.I.L J.` U11: ','Y`:EAR Is $61,009,919 .:___. pu.a`sCl1g`C1` .se1'v1"ces I; severe 1' y : ne-Lm`1'd nassanu.-.~ ellaneous, `$16,846,: nut into Pf"f"r.mf 5.1,. .. .u, during nu lU6U, and $39,401,567, 1, Tho fnhul u IIIUU enecc, one 33 of nnm--:.Hn . Page Tnree 4uLAlC\1- 111 opelratmg E1.l`}_"e 1' H! H. uuH(.'C, I The average woman desires to be: the one `ro make a man forget all the ' other women he knows, then she pro-; ceeds to remind him of them all the" time by asking questions about then: u u'd._y. Neighbo1'- done nothmg V r Proud Mothel----`I think Junior be-,` comes more like his father eve1'_v= day. ; \7nrrI11-m.. cn__n, - - - --...,,...e uuulsn tram has I \'i. this continent. An engine and ` two coaches were displayed at the i`y\/'orl s Columbia Exposition at Chicago in 1893, and a British loco- J motive was displayed at the Baltimore `J. and Ohio Exhiition at Baltimore a l'c\\' years ago. auu U1`llO ixhl ;cl.lIL(/'. I This will be the wixich a complete E this d 1 World s r`.n1.m~1~:n 3v.-Ixioh time it has established some remarkable records in speed pe1'form- ; ,ancc. THURSDAY, MARCH 30, 1933. > J rcmln mm 01 them the ' asking` I -Really. And have you :2; to p1'event it? ! rst occasion on Brltlsh train has 1; An one-inn -ma The Northern Advance '\.......a,._y' L-ApCn(ll1 .ul`I `you got 111 you (`E11181 ; Mr. Henry--Your jso small that they anything. 1r.. \v- --' -.,. unnln yuxpusti. . ! M1". Nlxon--Why don't you tell the whole truth ? We called that anl ordinary expenditure, but as soon as in called it a capital one. exnendituuvm um- Mr. Henry---And during the last: nine years there h/ad been $8,000,000, spent on bond discount,--that 15 in voI!:'n_tr 9100 bowls for 3298 m- enlun #9115 A $1.000.000. Mr. `.\ -ixon--'I`hey ' ,..~..m,uuu.uuu had been added to the ;p,'ross debt, it having risen from $234,- 0O0,000 to $572,000,000. Of this in- {crease $03,000,000 was due to the fHydro; $2,000,000 to the & N.O. 'Railway. and $39,460,000 to the Agri- lcultural Development Board. Of the increase in the nine years $104,- 000,000 was spent in realizable as- sets, and $112,000,000 in non-realiz- able, but revenue-p-reducing works. 4 cnnl1 nrv .l..'...1._, Addition to Cross Debt In the nine _vea2'.~: since that time ,$281,000.000 had been havimz risen fmm ,9'H lbH;`l'. There was also $6,000,000 spent on rural Hydro extensions, he said, adding` that the previous Administra- tion had never advanced one dollar for this purpose. `,\/[,.' ?\Yn..-u. In`, I -- "-.-...... uu\\:LU[Jl1lCnE board. works, such as 'hig'hways, said the Prime Min- ] istgr. '4uUllJ was .`:;DD_.UUU,U00 spent ways. I think we all realize 1 c.\'pen(litu1'c was ju. 1n perience of present day light, realize that we might have got ithzm We should. 3 He 1'e`f'er2'ed to the other I ltures which had added to tl fdelit under the Drury regim spoke of the n.\'t1'a01'dinai`y c lcolumn that had been ir.t1 lzcwp 51]] yvn1\'1nvn`\A-- 4.1.4 -- - ....... nu um:-.:||. H.Ll'U(lUCC(L l"`We all remember that." he said. Mr. Nixon--What do you call it [this year ? I suppose it is the special ?account. What is the difference ? I Mr. Henry--We have added nothing [to the lists. We have brought down '21 budget that ail may understand. {The Drury Govenmient had failed to lbalance its bud_:et durin,e: fai1`l_\' good . _vem';< and had increasc-d the debt by ` |$l!)3.991,000, he said. Addition I In ninn unvu-Lw niv-r-A `-`V ' _..w. ....,...~, nu. not all un- I to Hydro, .$"7,500,000 Timiskaming {and $10,000,- 000 Development .}`194,000_,O0_0 there . [was mm: nnn nnn A. uudlkl. uun or .$194,000,000 during $55,000,000 or 'ways. nll 1-nnlm. nu U -- .,..un Luv. IL. 3: I would like to make comparison ;"of the regime under Mr. Ferguson .;nnd myself during the past nine years e with the term under the Drury Gov- lernment. In 1919, he said, the ] ltotal gross debt was $97,000,000, but 1 when the Drury Governmrmt went out t in .1923 to $291,000,000, , .01` $1s)4.nnn n-nn :-~ P---V .7-... uu uunu discount--tl Hing? $98, VVE M 1'. 11h n The new Gilson "Snowbird" Refrigerator is uncannily quiet. lt is beautifully nished in white duco outside, and ' snowy, stainless porcelain in- side, with rounded sanitary corners. A big feature is the perfect control of temperature 7 1 -move the dial and the air plunges down to glacial cold- ness, ready to lreeze quicl< desserts and ices. Set it at normal-and your fruits, vege- tables and meats are preserved at 45 degrees-just right to hold all the Flavor. Priced for Economy-C/assed with the Finest See these wonderful "Snowbird" Refrigerators. We have never had anything like them before at the price. We'll arrange easy terms for your convenience. A bemg $277,673,820. 7 Number on Pensior The total number of pen; jthe Ontario payroll on Oct. `V-'21:: 41,658, and the tota e paid in pt.-nnrions for the 1 year was ., Ti: ' cial proportion 01' this e.\'_pen(l $1,466,888.26 and the mun contxibuted $825,555.79 In :1 .cnmnnx-v 1-" ``~ U ..;wuu.u111g' Dy b'-'f3,G46,6.()l, , `,__..D ...... angling ncenses. ;$56,748; t1'appin_9,' and hunting Ii- .cense;~', $38,566; fees under highway :t1'ansit duplicate cards, badges, etc., }`$3`6,944; amusement tax, $79,513, [law stamps, $45,611. . Other (lecreases E p1'opo1'tions. A uf'u+nnr-v~`- V " ranged in smaller ` 3 '$740,000; bonuses on t `$889,306; lfquor contr `$215,000; land transfers, ilcompanies and broker fec lsand and gravel royalties 2 ;$32,755; shing and angli unc gtransit b `$36,944; amusement tax ,]- ';"t|I`\\I\ m 4 - n< - pi-u pO1`E101]S. 1 "shows that total as `660, exccetling liabilities b A statement on the provincial debt sets are $603,083, _ y $30,765,- increascd over . the net debt I 1, the total ` 267. The g'ross debt .193]. by $53,75.1,8.`)2_, inc-i'casing' by $33,(i46,6.`) RI ` 7 Where Revenue Fell Off Other large decrease. were: T. & .0. Railway Commission, interest, 'Q0,00Q; Liquor Contrnl Rnm-A 4 I 1:14.: 11; mm rise $1$)4,000,0'0O in wzmt fn lm r'..:.. : 1 915,620 , an increase of I The largest decrease succession duties, the last year being $6,136, pared with $9,504,814 1' crease of $3,368,190. \XIL..~ '` uruugnn in $7,165,795, an inch $1,821,331 over 1931; the g tax increased by $1,390,593, b: in a total revenue of $12,341,2 the corporations tax brought 915,620 $1,939, T11n Inn:---~L -` $2,330,463. ,,___-_. .A\-IAII gags U113] Reasons `for Decit . Ordinary revenue was $54,175,233, with ordinary expenditures. $52,173,- 086, but there was an item of special expenditures amounting to $4,062,944, leaving the decit for the last scal ' year, ended Oct. 31 last, at $2,060,- 798, where the anticipated surplus in the pre-sessional nancial statement was placed at $1,975,000. The spec- ial expenditure included `refund of nes to the City of Toronto,/` $356,- 890; unemployment direct relief, one- fifth written off, the total to be spread over ve years, $808,470; old age pensions, adjustment of the Dom- inion Government, 1931, contribution, $567,120, and exchange on U.S. funds Revenue decreased in 1932 over 1931 by $6,433,893, there having been decreases in all departments, with the exception of the motor vehicles permits, gasoline tax and cur- povrations tax. The motor vehicles tax, which was increased last year, brought in $7,165,795, increase of 9- $1,8_2.l,331 1931: H11: .m~-I:~~ 5" GOVERNMENT HAD $206,060,798 DEFICIT .-.ua'u. The Royal Scot exp1'ess ated between Euston station. L and Glasgrow and Edinbuvrgh, Sm fnr flan nn.~6- ---- --L-- 355$ Where 1131- In um... (Continued from page one) Rnncnnu '---- "-" " ,- -... .-u..u.u mzu. Lnl:~.' c the ex -I E` we also : gone fasten mould. ..._, uuu1uub'.SlUI1, mterest, Control Board, timber dues, control permits, $175,000; fees, $94,204; gravel and licenses, ishing angling ilcenses. llllnfinrv 1: . uuucb, me revenue $6,136,624, as h in 1931, ere R:-u-....... :-_n A- . regime, and }.\'t1'a0l'dH1Z]l`\I (I\'nr-nun. --......, balk uruugnt In 13' I I . $1,939,064. est decrease occurred iuties. Ynvnnnn 4 - tcu u. a capnal .- expenditures were 7 didn t amount Lo :0UO,.LUU. `e decrpnenx mm. I \...-..,,-In uuu r4u1I|uuvl';,','ll, E !for the past seventy years, cmmmures - nun-lUilIlZaDle assets in _the mno years. ]'d 9t Declares Comparison Fair (1 n - . . That [S a fan` and reasonable com- parison to made, and is an answer to those who go -round the hustings and talk of extravagant adlnxnxstrationr, |without giving: the (':H1m' man Ac um ' would amount to! I las} 4 1__,____ (In A-.. .._ vllkj uL3.;ullIZ()(l scr- vard the wclfztre, re- 11 of the people of Premier stated that these services total- ,,_- ........5 uuuau assets. )0 on high- that this.` fe(]_ 1n Hm I\" -.,.u, um: gasollne bringing 2 $12,341,238, and brought in W7 expcndi-1 ad tho rrvnc pe1m'one1's on on 31, 1932, total amount vr last scal vwx ne provin- .45. UUyUU_U t'.ho.'u| L thosc` iur-ihln M-mu. .._[;\.u\ubLlll,' \\`.I?' municipalities 9. 01' Au 1:! SONIC` , an mcrease cl 1; gasoline` 1-1'nn-inn. umauians \\'Ill-S'l10l'tly have an op-' `portunity of comparing Canadian and ,British railway trains, since the fam- {ous Royal Scot express of the Lon- - ;(lon, Midland an(l Scottish RE1ll\\'ilj,' i.,` to be operated over the lines of the Canadian Pacific and Canadian .\'at- 1 lional Railways on her way to and 5 lfrom the Century of Progress Ex- ` position, opening at Chicago on June 1st this year. The Royal Scot. com-,; inleto with one of her +'nmm._- in...... (.`.\'])(.'H(1l- the gross Fimrx, an-4 .. l\| [Lam of lastlwithout giying other side of the |,000,sto1'_v, where the money has gone and what it was for," ;ome Hr.-21:17. declared Prennnw` p~u|(:!}t fkns - A , othen amount below the par valuel . And there was $64,000,000 spent in smaller items for the nine yenrs.`com- . pared with $31,000,000 in shnilar amounts by the Drury Government. In other words, the Drury A f tion had spent $106,000,000 in realiz- labie works and $55,000,000 in non-I` realizable during` the four years,.: while the Ferguson-Henry Govern-ll ments have spent $104,000,000 inlc realizable assets and $112,000,000 inil non-realizable assets in the nine 1 I __Dec|ares Comparison Falr - _u-.u-.~;. uanada in the first two months of 1933 took first place. with raw apples in the British market, a' place formerly held by the Unitedi States. So far this year 598,588; ('\U1` urn I-n ,-,....A. L _ C VV I4. with um Lue eennury or 1-'1-ogre.ss position, opening com-5 lnlete her famous louomo-l tives and cars, will be part 01" the tran; exhibit of the Exposi- tion and will reach Montreal by boat about the end of April. The train will be assembled here and operated rover Canadian railways to and from` Chicago. 'Tl.... T1..-.-1 H 1n 1: by 1: two ` 1 Canada exported to the British; _ market 4,264,624 pounds of bacon. I` during January and February, com-,1 pared with 2246,38-1 pounds during the same period in 1932, and 120,-i` 064 pounds in 1931. Hams sent to 1: lB1'itain in January and Fcl)rua1'_v:I; totalled 2,730,784 pounds, compared` ` with 1,535,968 pounds for the same months in 1932 and 1,057,504 pounds in .1931. Canadian cattle imnm-+mI . . . I U111 ..... u any UL1llf1' COIOHIEII S'C`C`U1'ltlC.\' m ' On tha world |iCanadiz1n _j-j:-:jT:--` I yli _ V HUGE INCREASE IN SALES = = "t BY CANADA TO BR1TA1N'f(f11."u1 ,.i(ffEf C . . ..-....n.uua| DAV` L ings banks, every dollar of our maLL.r- (j 1 ing` liabiliities, every dollar requirodic '.for the constuction of our great high ;) ' way, and every dollar required for the I g construction of necessary publicge works will be available without g'o-i ling` abroad to borrow a single cent., _ And to-day Canadian standijl lhigher in Emrlish mnnnv m....1..,.:-| '.`\l1(1 to-day Cam higher E1 than any world. ( _... ,...m:uu uscal year of, reduc- 'I$8,600,0i00, a surplus to be en1pIoyeo`22 1 ' in rraiiway construction and the re-`pauses 19 ' duction of the public debt. With that di surplus, with that increased income, $27,257,959, and with the amounts deposited by material and the people in the governmental sav-,8'75, ing's_l)z1nks, every dollar nf` nnv man 1- ' -' .....e..u-.-u L`5LllTl2lICS for the5 1 present are: Receipts from CH5- _ 000,000, from North-West; toms $22,750,000, from Excise 000,000, from the Post office service $1,600,000, from Public Works 353,-` lnn'ds _ $1,750,000, from other sources $800; - 000, making a total of $36,600,000. ' It is intended to increase t-he expendi-I` ture because many liabilities are ma '1 turing, to $28,000,000, leaving a sur- : plus for the present scal of, $8,600,000, employee `j lin rraiiwav C()nSt1`l1r-hnn ....J u, _ Wu, xuanulg total 01' 5, 1 ' liabilit lea 's 9:52 Rnn nnn _ I - r ` ./\.....\.un| .10!-'. The amen $22,750 nn I\l\f\ 1` xunu _vuH.1' was and more than the xv ' simply what 2:- ary expenditure colle the sum the people would have taxed would have amounted teen cents per head less would have between 'l`L,. ; I=AMous BRITISH TRAIN TO r ` BE EXHIBITED IN CANADA :.\H'2l. oumen upon the pe( Sir Leonard Tilley empl following; fact, commend to 21` our readers. e last year was : Inn.)-n +1.... +1 ` " uuuuh H] 1:152 and 1,057,504 cattle imported I the United Kingdom in the first to months of 1933 numbered 3,985? against nil in the same period last- -m'.<;. Canada in onths first nlnr-n ....'n.' 57-I .. u-;5uL1dLL'(l DY 511' Richard Cartwright; civil service, $30,072, caused by the more extended opera- tions in the North-West; $125,637 the census, is compelled $105,811. and increases show people. For expenditure canals was $18$l,8:17, but the increas- ed receipts occasioned thr-2reb_v was $189,000. The increased expenditure on post olces was $150,000, but the receipts therefrom were over $200,- 000. Thus it will he seen that while has been a liberal [of money, that expenditure has been [made in a business-like way, causing`. `an immediate return e.\'tra burden Leonm-rl 'r.iim, - - -- ..... .. L , `avunu nu: pub 4 per cent. there was there was incr actual gain while none of creased the people. 5:29.993 by 1 caused h-.v Hm for th expenditure Other cans negotiated 111 the banks eased $15,000 was made the -bu-rden of the in-. was borne by;' increases were e sinking fund. caused by Sir Richard n-. l\\ - ml expenditu1'e,= uuah statement. Let us to this increased expo! rst item is an increase $146,659. This was cz increased 1;} savings banks, posit wa: bal per (~.r=_n1- n+,...m.+ uuiciai salaries Cut United States line of the lCanadian National, the Chicago , `agreement was` put into effect on GE IBNYCRCaAl`vSfDlJ .?.3LElsuTAINlFeb. 1, 1932. This agreement called for a reduction of 10 per celnt. in `V, _ _ . . the ages 01' all railway emp oyees. "_f:(r"d4"`.,`(3.:p((.),`_CIe(l ]t.he fBk:1t_'Sh During the year 1931, official salaiies j. 0 J") _,, ]])%n;J`, _ a"'wcre recluced by 10 per ceiit., and ii- mb '.f'ml})m~` `Em 0 lumy C9m'il.$)32 a survey was made of all sal- ed Nth `_`.246 .'3`Q'1 ( `lulgng aried positions paying $2,700 or more pm.'d "3, U32 10"ipcr year. A reduced .sal:ai'y scale as L l u".d 1 put into force, the percentage reduc- "l730JE iI81:im}(; 1z1l1:v(l FCb1`Em:1"`] tl0ll being heavier in the higlier paid '1 1 ,;`5 qr GU21`: (mpflum positions. In addition, the re(lu_e:d t] j".' 1'q: ,)2 1) d 10,7 504 9 YES salaries were .furthe1' made subject :0].;lln Cf)tt ] . pong "1 to a 5 per cent. reduction." t'h`C 'Unit`nIa(K`i`: dog] '$p%re(t After Llianking all o"1cers and _cm- th ;. 19,335,: deg q8S.,ployees for their loyal and eflicient `mgm 5 -3). um He, "' 'f"serviees during` the past year, Ivlr. 'amSE."` '1 15.9 awe p`.`{d ]atiHungerfoi`d recorded his appeeiatior. f1n(;q-;'t mk f.et t.W].of the service reiidered to the coin S 0 3` 0 - 1-5 mhipany by the members of the board oi." in market, aldirectors. Their work has been of C,frmey held- Umtedla dilcult character, and the e oi`t.a 05', ,so this, `Year 5'q8, 8gl\vhich they have put forward iiave \0\ei2C sent to Biitain, eonipaied been unSpal_ing,,, he COnc1uded_ ..65,508 cwt. a year ago. La 22 Minion Annually _.____:.._____:___?__ A ten-year resume of receipts and expenditures, ending` with 1932, shows 1: value. the aV`f_0.1`a'," 31'13_ fleflclt tg theire wa $64,000,000 _,D0nt iulbeen >.s22.132..u1. im-nzwn n ,. ,. ,.._, .....e. uululllill secui'itie.< in} . _ -._ -.. -..,...... accuullt 101' the can-` . . .|adian Pacic and Intercolonial Rai1- D"""` E"` V __ ` _ . For every dollar which the Can- 21:13:; a111duIsurt\`r(<)3!yst}1'1r? t?1I<:111\1I1?':ii-e\?\7tes(t1;i&idlap. Nammal 2928 3 expenditures that are a pe1'111a11enti1eceed on-ly 5? Cents m U32 . T0 V and lasting` benet Further maturingimeet the Sltuatlon econonilgs `T`.wC liabilities to the `amount 0 f $4 000_ been effected through the ehmmation 000 were redeemed reducing.` th e 0~f unprotable Serv1-ceS - me ieduc Public debt by just that amount ltlon Ema re oygamz-atlon oi .the T.he ependitui-e was large an in-`supervisory s1:'aI closing-F of Stamms crease of a million and a half overiand oice bu1ld_1n8'S, 1ay1ng.o` of a the pl_eCed).ng_ year. But our oppon_ large 11u1n1_)e1- oi employees, including ents can gain no comfort even from many pilevlously carmed on part-tLn11e that statement. Let us ekamine in- and by Such Dimer I-neasures 51$ wwd this oxpemmure The be made effective withoutbearmg Loo in interest of hoiliwly mm we commumtles s?r`mii' $146659. caused by the! At -the present tlme the Stan` 15 increased depoS`itS approximately31 per cent. below the banks, 3,929 t1le`,Y.el' I-C total ,payroH 0 was ie 0 1?` `hand 15. 39 pol cent below per the 192`) gure` The awgmge number expendittuie,=91t9mpI(}]y`3f3S and vamun.t. f `:m(pef` iz(1).ign-t_lC'V_.1,'ece.I?e,d , fhom _1')2`) '0 actual made,i ' 0 K usi` 6 .15\1dh 1 Oo)\~YS.'....n.. 'while of tho in_5 , 1 nm nun A , ,, _.... \I\I\4(14l L:.\1Jt:llLULl.l1'C was` $27,067,000, leaving a grand surplus of over eight millions of dollars--the _ largest surplus that has ever been (le- v clared since Canada was disco\'e1`-:- , And of the expenditure $7,340,000 1 - was on capital account for the Can- adian ; ways, and for the enlargement of ` canals and surveys in the North-West;,i' permanentjl benet. Further, maturing il amount of $4,000,-,( redeemed, reducing the;t just that amount. 1, I 'I`lxn n...~-._.1:1_,, . Lu unree millions. But the prosperityi 7 of the country` was greater than had , been anticipated by even the most sanguine. The total` consolidated revenue was $33,383,000, to which. must be added the subsidies from Noith-West lands amounting to $1,-{ 744,000. The total expenditure was surplus], LL . eight lniiiinne nf Anll-~ *- Da 3 of y C.N.R. DEFICIT FOR _. y ore YEAR Is $61 no; _.;._- Canadians will -shortly have op- ortuglity comparing` Canadian nml