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_ ".3er - 'Pm "w ' Eiiiiifh"ttN' IS, 1918. f EDNESDAM-- i' _---------------- t l Hon. T. W. McGarry Presentsi a Budget to the . : l . I ; Legislature i l w,-,----------------- _ {TH REE MILLIONS N ET l ----.-------_ l I _ 5 In mm and a half years of warr,; :timc, which called for many "nu-""31! disbursements. Outario piled "P 'li . surplus of ovet' $3,000,0b0, includ-l [ing a net surplus of $1,751,374 forl {1917, tho biggest in the history of itho Province, according to thc Bud- lget spef'Ph in the Legislature yes-v gun-day afternoon by the Provincial, f Treasurer. y , After' congratulating Mr. Proud-l foot upon assuming: the leadership of the Liberal party in the House, l Hon. T. IN. Meljarrr said: I 'A statement of the first year of ithr' war, a review of tho your 1913-. .' l4, discloses the fad that there was' T a 1101er of $697,028.39. As ex- plained at the time by me. that 'lt'-, lir-it was due partly to thn refusal, , of certain vompanies to pay taxes',; _ and partly to the fact that we had: expended the sum of $'204.000 Ii ( aclvzonv-v-H for "our for Great Hritttinl , and the Belgian people, ' i "in tho followin,ur tiara] rear, that, of WI l-IC, tthe firs: full year of they ,llearst Administration". no were! able to ntltlrtllllt"o a surplus of or-! dinary receipts cwor hrdinarx- ox-l pcnditnres of .t?.7l,'.lr0. l " Iatrt Year's: Surplus. I , "Last year, when presenting the; iiinanvinl sheet for the usual year" Il"lrr-lri. there was annonncml the! l'.,"',)',",",),'),") surplus that had been." [namely .tl,134.rJ9ti.rt. ' u "And now l have the honor tut lpresent the report of our i'inances,. {fur the fiscal year 191647. During that year our totul ordinary re- ceipts {unnamed to $18c.'i;.9.r,.'r7..?.,o,. and our total ordinary expenditures. were $i(i',51fl,2:.','2.tj4. leaving: a notI surplus on the year's operations'; amounting, to $1.751,.rrt.r,.i. ! .Rcdueed Net Dem. .' I "Not only have we the Blt'alnst! surplus ever announced in tin-xi "'i'o'l'.C1' but We have, in addition, re- {due-ed the net debt by (a1'//)/,'.e')h.)"ii,! and we have expended on capita account $5,155,000 in excess of tht amount borrowed for these pur- poses. Altogether we expended on capital account the sum of $10,- 155,245.35. Our total borrowings were $5,000,000, so that. as stated above, we expended over $5,000,000 out of ordinary revenues and the balance carried over from last year. "Of this sum of $10,000,000, $5,- |700.000 was for Hydro-electric. $410,000 for T. & N. o. Railway and $2,000,000 to pav off a loan. So. on the whole, our capital expendi- tture, outside of these particular items, was very considerably re- (iG'iii"i'. l D (Provincial War Tax. T "Last year we received from the Provincial war tax the sum of $2,- i'Ort0,128.09, anclwe expended $2.- l414,447.5i;, or $364,319.16 morethan 'we received. and this additional sum has been charged up to ordin- ary expenditures. . "The first item in receipts to which attentio.n ought to be drawn is thatl It. receipts from Lands, Forests andi Mines Department, amountln t a. XT g to $l't,5"i9,196.06. In the fiscal year 1915-16 our total receipts trom this branch of the Government were " - 860,507.37. so that there is tin ir; parent liner-ease of 31.718.638.69. This is principally accounted for by the fact that lust year we . received $1,366,892 from the nickel tax, made up of arrears for 1915-16, 3530.! 110. and taxes for 1916-17. $836,782.. Motor Licenses. . "The second item of ind . _ . erect " / tlttWot motor licenses. In 1016 we