The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-09-11


pablo Indebtedness TO over ono hundred and twenty NIL
lions Of dollars at the present moment
This debt might not be regarded as large IN prosper
dual Ioudstion But more than three quarters OF the
whole amount has been incurred within dozen years.
sirtv.ons millions have been added in ten twelve
years not TO maintain for national existence out IN
time OF profound peace The liabilities OF the PROVINCES
Federation be carried out would suddenly swell 70 twice
their presens In the meantime the national re-
y. With
terial wealth Of the country In the value OF s lands
diminishing with deplorable and rulnons rapidly An
the correctness of these assertions
In s8s the financial report exhibited deficiency OF re-
venue Of $685., 000 ss follows
xnenditure less redemption Of debt So 742 60T Al
Receipts less sale Of debentures and sink
ing fund. s7oo,oio "a
Deficiency. Observation-Disclosures. SsS2,4sl VI
Tbis WAS under advantageous circumstances, for the
ministry then power had made strenuous efforts 70
present favorable financial report ana had economzeo
the expenditures in every possible way they said:-
0While the revenue has increased In the aggregate
81 1851 s1 &c. there has been dimnulion OF expendi,
81 3d. but in spite Of this great improvement
upon 1852, there 10 sti serious deficiency, although
very much less than was estimated ,seA No ra,o,, q,
the entire payments and receipts Of the province has
been made the termination Of the financial year having
been changed from December 31st to June 30th re-
mort for tho six months ending juno Co. 1884 was pre-
septed to Parliament at its last session. prior to the visit
Of the Canadian Confederation Commissioners TO Eng
land which showed balance Of receipts oxpendi
lures Of S33T 000 During the present session. how
ever il has been charged by the Hon Luther Hoton,
ex Minister of Finance that this six months report ola
not represent the true condition Of the finances
for that period but had been made with the design OF
u Rooo
that the real deficiency the public revenue for the year
1884 calculated to December 81 would reach two %
half OF dollars had borrowed by the Finance Minis
ter Mr. Gait of the Bank Of Montreal In order to carry
on the government without Immediately exposing the
bankrupt condition of the Treasury These statements,
having been publicly made in Parliament must be &C
cepted evidence of the condition OF the finances OF
the province for year 1884 in the absence of an
nual report.
From the trade and navigation returns for 1868 ap-
pears that the mporations into Canada for that year
showed an aggregate decrease compared with 1882 Of
two million six hndred thousand dollars The decrease
in 1884 recently reported to Parliament Is sun larger
thousand dollars in value for the ending June 80,
1866 No more convincing proof could be given OF the
mpovershment OF the country than this steady and IN
creasng dminution in the imports.
In 1852 an effort was made to meet the dencenry OF
revenue BY imposing increased duties on tea e.
go backwards and in view OF the Impoverished condi
ton of the people, it has been announced by ministers
this session that no alteration Will be maze IN the GUS
In exports however tho business Of 1852 showed an
increase of eight millions over 1853 principally
the Reciprocity treaty with the United States now about
to expire Out of SAL 800 000 the value OF the exports
for 1863 500 500 900 to the United states, and
Sl9 200 600 Great Britain the North American
colon es the West Indies and other foreign countries
In opsd ring the debt of Canada It must be borne in
mind that IL differs materially from the debt Of the
United states important particular: that as 1t Is
owing wholly to foreign creditors the interest is pad
ont the country taken out of taxation and does not
return 1t is thus draining year after year. the re-
of the country while in the United States the
citizens being the main creditors the interest is paid to
them remains in the country and returns into taxation
This then is the present financial condition OF Canada
acknowledged debt OF seventy millions an actual
debt of over one hundred and twenty millions deli
cheney the in 1868 of nearly one million, and
in 1854 of two millions expenditure increasing and
revenue decreasing year after year, no measures or
finance adoptcd to secure increased revenue and
trade which half of the resources OF the
country derived about to be almost wholly closed
The principal canals of the province share IN the gen
eral depression The traffic on the Weland canal fell In
the first months OF last twelve and onethrd per
1863 and the bus ness the St Lawrence canals in 1884
shows decrease OF thirty per cent from the busl
of tn, preceding year. Nor Is TINS iang on TO DC
attributed any extraordinary causes II Is gradually
and steadily increasing year after year In 1865 Us com
pared with 1852 the decrease the weand canal was
eight and twenty HI ndedths per cent ana ON the ST.
Lawrence canals seven and nineteen hundredths per
cent
DEPRESSION OF THE GENERAL BUSINESS OF THE
COUNTRY.
Tho business OF the country, both wholesale ana re-
tall il in state bordering upon general bankruptcy In
tho Upper Canada the vacant stores in every
block tell their own story The proprietor Of an old
established retail business in Toronto in recent con
vcrsation said, az should have made money II had
closed my store two years ago. and suffered my stock TO
idle upon the shelves, instead OF paying the ordinary
expense Of keeping my business running And what
true OF my caso Is true OF nearly ev,ry one OF my
neighbors upon this (King) street"
In Montreal and Quebec tho stagnaton of trade is
equally observable The Quebec Mo, ming Chronicle In
rccenissue, saysThe business of Montreal, the chief
emporium Of the foreign commerce OF Canada, is In
state Of sagnation there is money circulating, and
The bank have 70 their disoants three and fouv
times orer The bdbnc # tGde en the account o. made
qfnUb he 4 UuG feTrfulLu fic n OvincP. ~
This testimony could DO multiplied indefinitely II
necessary and the weekly lists of bankruptcies In the
official gazette night be cited to show the desperate
financial condition to which neighbors across the
border are reduced.
POVERTY AND SUFFERING IN THE RURAL DISTRICTS
II the cities OF Upper and Lower Canada give evidence
In closed stores nsolvent mott and general depression
OF the entire tagnaton of trade the rural districts ur
nish equally amentable indications OF the retroRrcssor
of tho province Even along the inland water border
Western Canada the farms but half worked, and OF
the main road large proportion Of the land is unim
proved.
TIE FEARFUL DECREASE OF POPULATION.
Tho decrease in the population Of Canada, consequent
upon the falling off in immigration and the rapid in
OF emigration to the States is one OF the mos
alarming features Of the decay of the province. TIT
system OF colonization is admittedly astupendous failure
and has involved the country In protless expenditure
without in any degree accomplishing ts oosct tns pro
motion Of immigration The colonization roads are
made into wilderness, and they impossible wher
| made but the work appears upon paper, swclls tn
ministerial report and creates OF expenditure
gentleman who has boon for years in tho employment
OF tho government civil engineer, and who has has
mich experience in the back country among the imn
grants bears the following to the working OF tn
system adopted in the IAN emigrant purchase
land the government maps, and locates himself up
on new road which promise well {, the settler
| But when he arrives at his new home hc hnds hmsel
in wflerness; while the few miles that separate hin
from civilization of such character as TO shut hin
out from q market eilcctually as though he were
| hundred leagues away. have seen many man broker
| hearted over his disappointment Some viii remain
| who have ambition, and endeavor to drag scant
| soil: but others throw thel
land and leave in despair after cxpending all their ltl
| means in reaching the promised land.
Tho loss Of population in Lower Canada is excitin
| general attention. That portion Of the province
rapidly losing its French Canadian population. Thei
young men, finding poverty beior them without settle
| mcnt or improvement going on around, leave thei
homes for the States and TO be found crowdng int
our cities or the prares Of the West Yet there is
large extent of land in Lower Canada suited for coloni
zation and that would be colonized under dinerer
condition Of political Affairs From Gaspc TO the limits
the eastern townships the south shore VI the 81 Law
renee some two millions and half OF acres Of fair Ian
await the enterprise Of the settler The proposed lin
Of the Tache road TO Lake Pohenegamook, passes fl