New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-02-18
CANADA-PAsT, PRESENT, AND FUTURE.

CANADA-PAST, PRESENT, AND FUTURE.
To N, Editor Of The N Y. TrihEHe
SIR: In commenting, few days since, on Cana
dian Finances" and the " Hon. A. t. Calls Consolid
alton Scheme" predicted its success, but did not,
however anticipate hearty and cordial a response
as il has met with. The matter fairly before the
London public the I'd of January and on the 18th The
London Times says: "The new Canadian loan has
attracted increased attention to-day, and come large
subscriptions are stated TO have been received the
closing quotations were to q per cent premium"
On Tie 10Th the list closed at per cent premium,
when it was found that the applications amounted 10
f22O0O 900. No doubt a large portion OF thus Is
offered by those holding the present securities OF the
Province, with view TO converting them INTO the
consolidated stock but the total amount OF the con-
solidated debt was only SO S6 00, aud the portion
required in cash but CO 500 600, the Offering will bs
seen to be very much in excess Of the Provinces
wants. and shows degree of confidence hardly 10 be
expected after what has transpired within the past
two years in the councils and deliberate assemblies
of the Province That the Provinces are right at
heart Mr. Gait, however, shows IN an ably-written
pamphlet, which he issued in London just prior TO
offering his consolidation sche me- and which was
heartily indorsed by the Gyns and Earrings of Lon:
don. In this pamphlet be thus justfes the general
policy of the Provinces for the past ten years:
G Cam ym Of , wa n ssS Ss. and s
then possessed navigation for vessels Of 900 un from the ocean
But me Tepecl suppened and the
PSorinet found ii.e sa6set 70 Of 2oOocO ponenO
10 ppor them erccpher declared by the Navigation Laws
from mailing them useful 70 OIes9 .' opposed 10 .ne
ons they formed In the West In 1919 the legal
new element had been developed through Of
railway Which tended TO maintain trade in the channels asa
seady formed and which could only be met BY similar Efforts
on the part Of Canada"
This Mr.. Gait seems to think the beginning Of Can
adas financial responsibilities, and then proceeds to
II D..l.- obi
In ;ddiiiOn to the Grand uDk Railway the as: years
have witnessed the completion Of the following additional mes
Of railway in Canada: ,
The Buffalo and Like l5s miles
And other minor lines OF local character, -
Inc Than lano , no zoe & have b::n md nt in
operation within the time while the
charge the Provnces connected with those railways which
have received public aid IL "a l6l,l50
The direct Of Canada including advances to railways Is
2s67 and after dedacns the sinking fund for the redemp
and the pay ments on public OF the Pro
vince, without reckoning interest have been follows
the development Of the navigation of the ST. $500.
Lawrence, represent ~ 7 So
Road and bridges and Improvement Of riyen..... 1880
as,aG2 100
Thus il would appear that the debt Of the Province
has been created and stands represented by these mecca
ssry public improvements.
This seems sound reasoning, ana shows Constant
perseverance and energy that ought to inspire conf
dence in any and feeble country, with but two TO
three millions population. lie then proceeds to take
up the commercial policy of the country and iustiies
his Tariff by the following illustrations and statistics:
Canadian state Of all parties have Invariably adhered to
the faithful and punoa discharge Of the obligations Of their
country they have sW6yrd the principle that what
may be the faults oies Of their Government ega
ure the public creditor shou suffer and supported b. the
voice Of the country Parliament has hssed
TO provide by taxation or the necefsie Of the state
But il H. and probably viii continue to De- Impossible 70 sbap
don customs duties excise OF royenue they Al
ford the Of levyg large by TAXATION Of articles Of
communion Distributing almost Hspprecabe
quantities ToSpec; Iii, advantage that Ay
imposed each individual Ia tine community contributes ia toll
eraby fair proportion 10 his means.
Admitting therefore, IL city Of Tairng certain
for the Of the State ard that such amount
only be obtained through dnes the Government OF
Canada Ike that Of Great ban, have to consider how that
necessary interference with the true principle Of political
my can be effected with the least disturbance 10 trade
judging Of the fiscal policy Of the present Government by this
rule 1t il contended that with trng exceptions, which
posed the least calculated 10 disturb the exchsnge
OF Canadian labor with that Of other countno,.
" The following Comparative result, appeHs;
lBil 10 1913 total imporis r8
IB49 to 1884 average tot al mports........ aso48g6
1885 to 1883 total imports. 7bll,SO
ls to 1893 duty l0 per cent Free goods y per cent
l6y 10 1854 duty l5I per cent Free goo g. per cent
1855 to 1885, duty ltl per Free goods 20 PERCENT
From the above the general policy Jf the country
would seem justihable, but 10 the workng OF his
OVID particular tariti-whch only. adopted year
since-hardly sufficient time has elapsed 70 illustrate.
lie sssers however that he has brought the erPeDds
lures within the of the Province for the year
lS59-ano finally brinss hs pamphlet 70 close with
very patriotic sentiment VIII
Ths fture nay CHANGE political relations but fesi
assured the dag r Arse when Canada s Withhold hss
sapssr aswsrsf issss Il nsy b, sn orsss hsisau ~I