New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-03-10
ouiry into their financial conduct although he
sonIdn't have acted on single question there ou'

by consent of . majority OF their own choice
Upper Canada pays tbree-ionrths OF TOE revenue
Of the United Provinces; Mr.. Brown is usually fol-
lowed by majority Of the Upper Canada deles CATION
-yett the moment il vas moved, afew evenings since,
in Assembly 10 add his name tO those OF the seven
teen selected by Messrs. j. A. Macdonald, Gait
and their colleagues in Office, Mr. Cartier rose,
ard. Az the Governor leading adviser threatened
the House that if il permitted Mr.. Brown to SIT
upon that Committee they would instantly resign
the Government Of the two CAnadas Under tins
extraordinary threat the vote wa', Yeas a. Nay.
60--motion lost. Upper Canada voted yes; Lower
Canada my. This debate lasted whole day.
In the session o. 1857, the Government chose Gu
Accounts Committee who were never allowed 10
meet In 1856, they named as its Chairman
merchant who was about 10 leave for Europe! In
1854 and 1855 there was an a0le Committee, OF
which Mr. ". l.. Mackenzie was Chairman, who
reported that gross acknowledgement prevailed,
aud that in six years the Provincial Treasurer
books bad not once been balanced; that those
Of the Board Of Works would not balance at
all; that large sums were drawn from the pub
lie chest for specific purposes, and after time
drawn over again, under pretense that such pay
ments lad not been made. The Treasurer and
Controller soon resolved to permit no me nber OF
that Committee to inspect any books containing the
public accounts, and the Government steadily re-
sisted all attempts made in Assembly to permit
Mr. Mackenzie again 10 sit on IT, Conceslmentis the
rule of Canadian Government. Some one acct
dentaly discovered, not long since, that 80, 600
acres Of public land, in very favorable locations,
md been secretly sold to the Hudsons Bay Com
psny for tb > moderate sum Of ESQ.
1t was a Committee oftbe Ohio Legislature who
discovered the heavy financial fraud, there it was
Lord Dalhousies refusal Of information to similar
Committee that subjected Lower Canada at one
time to the loss Of $500 000 through the failure Of
its Receiver-General. ] do not believe in Mr..
Browns schemes, but he truly described our con-
dition as q province on the 9th inst, in Assembly
He said:
"Tbe prospects Of our country were never less
cheering. A blight has fallen agricultural In
tsTeststbe istal enemy Of our great staple is fat
spreading ts destroying power over our wheat fields
the manufacturing industry OF the country is pros
tIsted-cOmmerce, foreign and domestic IL severely
depressed-taxhtiOn il largely iDcTeased-the pnbio
debt has grown to enormous diner sloDs-snd, not.th
standing the heavy additional imposs thrown our
people, the alarming fact is before that ordinary
expenditure for three successive years has vastly eI-
ceeded our revenue, snd large aonual deficits have
only been met by new loans the Stock Exchange
Our local debt is stated at 80 or 60 millions, but
as much of it is payable in London, with per cent
of inter rest there it is equal TO perhaps 80 30
millions of Il three-per-c cent debt; and Mr.. Gait, the
financial State physician last called In, deaens
people with his nOstrums for converting Us into 4s
or 4Js-bewders them with his sham sinking
imports which do not compete with home indus
try, which would produce more smuggling trips
arOss the lines andless revenue and drive our trade
more aud more into the American channel. A
newspaper tax is to be levied forthwith, and
French Canada cOncated by further expendi-
ture OF 81 600 eco (tO be drawn from impoverished
Upper CANADA, upon Lower Canadian tenants
who are to be made landowners not by paying for
their farms. but by making Upper Canadians pay
for them The CUstOm-H Houses on your side of the
line and on ours would be useless in case OF annex
alton. They cost vast sums of money yearly, and
levy tea, coffee, tobacco and other taxes from us,
which your people are not burdened with. We
resisted annexation in ls49, and double taxation
and poverty in 1859 is our reward Our rulers
forget that the power Of Canada to sustain Its
credit ought not to be measured by its latent
wealth, but by the annual products of that wealth
by the means it has of converting its property
into cash wherewith to sustain the burden Of taxa
ton and the payment OF its obligations.
One of Mr.. Controller Calls reforms" is to be
the conversion Of about ten millions of Municipal
Loan Fund debentures into regular Provincial
bonds. Gov. Ihncks and his colleagues, in lo12,
anticipated temporary advantage to their faction,
from having the power to authorize species OF
semi-prOvincial debentures 10 be issued to those
constituencies chiefly whose representatives would
vote az they were told. They legalized their
ties were, by the Executive, from time to time, at
its option TO be authorized tn borrow 500, 600,
$500 600, $500 000 or less, of scrip, for uses
stated: the Government was to take their bonds,
and issue to them It's bonds, and it was to try to
enforce regular payments of interest, with two per
cent a year toward liouidating the debt; and from
the money thus raised it was TO pay the holders of
the bonds. Clumsy as this machinery was, SlO-
000 coo have been raised through It's means; but
half the borrowers don't pay the interest, &C.;
Government don't enforce payment; the . per
cent bonds though legazed in lieu of Provincial
stock as security for bank issues, are under par,
while Government Us are ll5 IN London. MIR.
Gait wants these ten millions added Germs not
known) TO the public debt Of Canada; and, as be
is the wonderful genius who compiled the Grand
Trunk Railway prospectus in London, promising
the unfortunate victims of that bubble III per cent
per annunl, of which they have not yet seen, of
profits, the first red cent; as moreover he wheeled
round into the foremost rank of anneXatiOnists III
lS49 and suddenly appeared as contractor for
large section Of the Grand Trunk i'll 1853, and now
bOs with pure and feryent loyalty to royalty,
there's no telling what he may not achieve.
Mr.. Gait, Successor to Mr.. Cayley," who has ac-
cepted subordinate trust in a bank here spllyng
in New France on minor tbeater, the same game
which Mr.. Law once played in Old France. He
deals with d.fei 10 our revenue, as Neckar, Jolly
de FleuIy and D'OrmesOn, dealt with defcit ID
French revenue. The end will probably be pre-
cisely the same-NO effects. FalsehOod may for q
time cunningy conceal details of loyal misconduct
from Accounts Committees, but bankruptcy will
ere long tell ell
just before the insurrection Of 1897, see il
stated in The Quebeo Gazette that
property of ali descriptions il diminishing n value
in a lsmentable degree. Farms every day selling
around us for $50 aud El00 the improvements on
which alone cost trebls the money. Houses, gener-
ally speaking yield average y per cert per an