New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-07-08
CANADA.
Public Debt-Bad Use of Public Money-Land
Jobbcrs-NormalS chool-NO Education-LOrd
EIgin and How he Manages-Great Western


Correspondence of The Tribune.
ToRoSTo, Thursday, July 3, 1851.
The public debt of Canada is nearly
twenty millions of dollars and a recent return to the
House of Assembly shows that two millions of dol
lars are on deposit in the Banks belonging to the
Government.
The plan is tins
Duties far larger than are required for ourexpendi
ture are placed on imports, with a view to have
surplus on hand TO be loaned out to importers of Brit
>h merchandise and land-jobbers-the lending Is
done by leaving the money in the Banks as you do,
| presume. through your Sub-TreaSury scheme,
though not to so large extent proportion to your
means and population.
The effect is 10 encourage an importation from
abroad far beyond our means and whenever Eng
lands hnanclers shall change their policy, we VIII
find our merchants deep in debt abroad our banks
stopping discounts. the interest on our public debt
IN addition TO the amount OF yOuraX on our exports
sent across III payment of our purchases OF your pro-
duce and manufacturers only 10 he paid through new
loans abroad where our creditors are.
The land-lobbers the value of wild land TO the
cultyatOr, but they do not improve IT, while the law
yers stand. a firm phalanx, against all law reform
"' or lie uo1ernnen funds the balance in the treas
ury O. IN the Banks, &C. was. on the 3lst OF May
last 50 O974l and though on this the country is not
getting per cent 1t Is paying SIX on debts which
could easily be redeemed.
here. at an average interest OF about one per cent
Abou, 100000 in the hands of the agents OF the
Colony in England.
About $l56,0oO are lief, with La Banque du Peuple
Montreal.
S34OG6i are lent to the Commercial Bank of Kings
ton, at per cent. OF interest.
If remember right, the United States have
ten millions In Banks and SubTreasurleS, chiefly IN
aid offofeign trade as the discounts go.
You have slaves and slave-holderS-we. ALSO have
our difficulties. Everywhere in this world the shoe
f,rha ono oil 10 mi ain nf MI
influences, you of domestic drawbacks IN addition
Education reaches the millions here very slowly.
Yesterday the foundation stone was laid of spen-
did Normal school, TO teach teachers-but like Oxford
and Cambridge IN England, the Toronto University
and McGill College, Montreal, our Normal School Is
probably destined # matters continue as at present,
TO benefit few who ought to receive advantage from
its lessons. dare say Lord Elgln WiShes that I'M
provemenis should be made-he IS an able man. and
one of the best Governors Canada has ever had-but
for all that, Superintendent of Education IN Up
per Canada has been III England during the last ten
months, and the superintendent for Lower Canada
expends a large sum yearly, while appearing 10
teach, yet not teaching. Half our young people, to
from TO 10, never enter a SchOOl-rOom.
The assemblage yesterday, at the foundation lay
ing. really brill ant the Highland ppers IN tar
tan petticoats and with bare limbs and no panta-
looms. played well and aStonSbed not few the
Episcopal Rector prayed but no one could hear If
not close 10 hm-Doctor RyerSOn read long address,
IN as low tone a. If he had been speaking TO a
brother preacher some private matter near crowd
CharbOnnell. presented the descendant OF King
Robert Bruce the silyertrowe inscriptions, colns,&c.
which were deposited IN stone, and Lord Elgn de-
hyerod DISCOURSE really able eloquent. and liberal,
IN a rch tenor key. and full OF expressions favorable
TO civil and religious equality. of which we have
none here III practice. though every leader OF every
sect has set phrases IN his mouth on all hitting oc-
caSlons.
His Lordship was dressed in blue coat is quite
bald on the forehead and crown, though scarcely 10
his HAIR grey his whlskerS whtebe Is rather stout
built hale, healthy, of winning manners and mas
fertile imagination-an exuberant fancy-and the re-
putatlOn OF beng the Louis Philippe OF his Cabinet,
some OF the members of which are "a much changed
IN their proessed principles since my first acquaIn-
lance with them "a am, III form and features since
fifteen.
Our Legislative Assembly consists Of outs and ms.
neither of whom have any strong hold on the country,
bu, shold not be- surprised If Lord +. 10 man
age through the elections. and the divisions oforgn
religion and politics. IN society like TINS, 10 get
machinery put together to last HIM other four years
all this under the color OF responsible popular Gov
eminent
| would never wish TO see Canada shake hands
with, or sanction. your SlavehOdlng system. and
therefore the prospect ahead depresses me-out TINS
IS on era, both OF mental and moral improvement
and let Us all. under whatever form OF government
do our best. and trust II God that all Will WORK Tor
good the distant future, ne who places the acorn
IN the soil trusts that the branches OF the noble 0ak
thence sprngng up Will shelter from the sunbeam he
villagers who NAV live hundred years hence.
4 Resolution was offered IN Assembly the other
day. asking information "a 10 the funds OF the Great
Western Railway what the Directors had paid H. and
who the Stockholders were-and al Sir Alan NC
Nabs earnest irequest the inquiry was voted down
The road has been IN existence on the statute Dooh,
Is wears not mile Off l. finished. 10 one tnat see
knows what has been done with the finances. II there
were any and now on the eve OF an election me
politicians are making capital out of II. Your Nj
Erastus Corning OF Albany l. director and the ROAD
Will cost $9OOO,ct0 ROGER SHERMAN
DIIJJ nEJ pHJA