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7 til, , ' M ' reiTfir ficiiitT-iiiiiraiiutid M. We Show a deficit of a, million 1 _ l with both the old parties in the ' ;'and a half dollars. But what differ- l House, and with the people of On- _ 'ence does it make if the Government , tarlo. It has been some Job," he goon on?-We have trot to tro on and added smiling'y. "to grasp in the [do our duty by the Province Of On- short 'time we have been in omee tario, and it is vtterly imnosaiblo for all the different branches of lthed'df- {anybody to estimate what the cit-5 Ipartment. I am no m: to pea o I . M . this House my inexperience. I do 'pendituies a,c going t? be. They are I ' (,tllit' claim to be a possessor of any _inct"sasiner every day. . fi " {extraordinary ability-Hush common Above-mic is Delayed. " ' 'sense. "\Ve made some change-s in thef 3 illBal lExDlalns Changes Made. revenue for this year," he continued, 1 . "All y . Hon. Mr. Smith attributed to The "by which we hoped to be able to l Itll F Globe an editorial comment that the offset some of these items of ex- "C. Provincial Treasurer was showing a Penditure. Hut it would be impossible i . "A 'i' . t., . M. i,,' . . at it _ for us to entirely offset them, for the l, . '(lel'ricit tltir, ? tiy U ordel ff}; him 'reason that the Succession Duty 7, "W, might be easier next Near - . A - ' .. '_",,S' , . , . - " " "t said. ct, which was expected to bring "a lilo show a surplus. Such, IE? i " ' .. . LE4; .. -..t_ . intention. I think' n a good deal of cxtra money, can- 1i's3.k? i 1.v't'ttf l"." my , . , ll set not show full and correct returns 'all 'excry fair-minded man JI/ we, 03 , until eighteen months after it is 'r, a ' ".111 agree that the shoving of a _ placed on the: statute books. Estates , ca? f ficit IH perfectly right. . . i have that length of time in which to . " ' He, proceeded to "401111" 1yook-l par. , r . j ' :kecping changes instituted under his : hive, anticipate increased rc- B, v'Al lrcgimc. i'ndcr lion. Mr. Mcliurry '3 i . venues." he said, "from the corpora. l :5 .'S3'stcm, ho said, there would hovel tion tax. We have increased the L (been " deficit .cmown tor this 3,9". amount on the insurance companies ';i1. lot' UNIV $ti'J2,813. Last Y'".", tho I tNV. and the banks." An act was to be '12: 'I'incial Treasurer reminded the l brought down, he said. which ITylty 4' 'House. Hon. Mr. McGarry had pre-g give explanations of the amounts of ,is, idicted a. small deficit this year. m. 1 this corporation tax. At this pointl _ ' L', "119 was perfectly right in F"! he also made announcement of We} . ' prediction." conmicnted Hon. Mn; Government policy with regard to l .~ Smith. But he thought it would bel, racetracks. ' in a big responsibility for a man toi, In conclusion. he declared that the i island up in the Legislature and fore- ( Govprnmpnt had cut down capital i il tell future financial events. He Aad'; expenditure in every possible in-f 3 5 _ changed from "ordinary rcvcnuc" to l " stance. it was not building any new? . _. "capital receipts" certain of the, 'ifr buildings where it could possibly! . venues of the Ln-partment of Lands. 5 avoid it. "\chmniiot cut down very!, i' Forests and Minos. "The amount putl " much on the institutions, nor can! ', ' into capital receipts from tho For- l We cut down on education." ho said. i, ests and Lands branch." he said. . "If anything. We have-to increase ex- 1 _ "was arrived at by deducting the to- penditures on education. It is one _ I tai cost of operation from the total of the things that we c.annot DUS' i receipts." rible matte any change in. save to . 7 ' Increase It as the years go by. Any ' po Profit From T. a h. U. f money that is spent on the ieduca-l [i Iron Ili. Smith pyoccrvieul lt; FX- f tion or the health of. this Prov nee, If. ; . inlain that the whole of the. wari ',',1'ti",; 'y/ti.'!," is mono: extremelyi tux had hecn plan-ml in culinary re-l, C 5m . l venue. so tho: war oNptmdtitures and l Regrets Itepeal of Tas, ', I ceiits might bo ltopt. S"parate,y . , l a u .. .. . . , [ tf'glicic is nobody in this, Ilouse," hol, I)?" '.'a'T1rf:,'11 Treasury was Ili,'; ! , ,1 " .1", will find fault! '_' {our}. to lament the passing of .t e: monumental. ". '_-m.. , . 'tsill-ova-tive-dollar war tax, which... with the lan- Government lot list i o? td, - "r. 'a.ae, " . , _ . . I me said. it would ham. 0th uuite war Cu"?ntiit.1?1rr1 The 01113 fan-1'! insatiable in the old Government I) i ment thcre 1night bc WAS' mm it ly I have continued it. If there had been! , not spend enough. The war ("iptflldl- l no "oth of October last "rear he be-i. ltux'es of the late: Governmvut he '"tl illevéd it would have still been con_i timatcd at 'viy,_'-'_1po)00', ret'/ry.ts front l tinned. This revenue, he said, could? lwar tax, Sk.l.\6,0'3-ll "or deficit. tl,- ' (have been applied very nicely to the' i . i813,2Y.5. 7 . . . ', inc-eds of the soldiers. which he ex-l . l Last year's Fromm-ml pl'C-ln'l'ihl'" i ( pected would not. decrease in the next i. i (of the Hydro-electric leN'il-S'HI, l ireur. l i8202,537. had been put down in ot'-i i Mr. Marshall (Lincoln) moved thel idinary expenditure; Northern de.. i !adjournment of the debate. l l ivelopment experrdituro ($1,077,fi00), l According to estimates submitted' . he claimed to be capital "xpenditure. Ly the Provincial Treasurer, On-l l 1The improvement of highways and! tario's total receipts for the fiscal, ' icolonization roads was entered in year ending October 31, 1929, will be the Budget as capital expenditure. ' t20.2i1.'J78. I The Government, he declared, had; He anticipaus expenditures of. F not got a cent out of the T. &, N. $17,032,830, which would leave at . o. Railway. "although it has balance. of approximately $2,'30o,000.) , twenty-two million dollars tied up as Further supplementary estimates; . ' a capital asset in the T. & N. o. I . ' will probably consume a great pct-1' . have my doubts whether you would, Lion of that amount. .. l _ call anything an asset that has noi valuc---from which we get no rc-i turns. The chances are that the fut- I N ure may change things for the rail- way. There is no doubt it has rc- vtenury-producing value, because it - opens up the North country and in- . duces settlers to go up there." l . ' A Growing Liability. , _ The Provincial Treasurer took a: serious view of the Teachers' Super- l annuation Fund. "We stand in this! , position to-day," he said. "We are, L assuming a liability with the super-l annuation fund that is going to grow i Very fast in the next few years. To- l _ day, it tho: Government were to pay . . into it the. money it owes that! ifund it would cost it a little over a l , Fmillion and a half dollars. And it! wus' , :should he paid. If the amount had! I .. ,luecn paid our deficit would have. . . lheon a million dollars more." t . _ i Loans in 1919, according to Hon. , . er. Smith. totalled $28,462,899. He ' ", Hold the House that the valuation of . l ., _" Ontario's natural resources was only , ' r,':.! "the wildest guess," and could be! _ ; nothing more. The Province must: a; be careful in guaranteeing bonds,I . 5-523 and the Government would not guar- I ". iii-,5: antce bonds for anything that might _r',iii'itd , be considered a luxury. i ' l 5..."; _ Mr. Dewart---rs there any ,estimj' '::,%1ilil late of what the statutory expendio _rc,',aliil ture will be this coming year? t 'g',e,s,','ciiRI tt Hon. Mr. ihpith---rt will not be as _ 'ttil much this year. Tk' . ' 'Ut doesn't make any difference," l he Dracccded. "whether the Province . x 0 of Ontario has a deficit this year or . . f l, '" ' l,, . ~ . 7 f " ' .