The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-05-09
THE NEW DOMINION.

| Favorable Statement of Dominion Finances
The Case Of Father NIcAIahony.
OTTAWA, May 8, 1859.
| me Hon. Mr.. Rose made financial statement in
| the House OF Commons last night, during which he
mentioned the following tems:-The revenue OF the
| Dominion from ordinary sources during the nine
| months ending March 81, was $9,927, 1862; gross
| amount of loans effected during the year,
s12 124,Ssl. making in all s22 O52, 24S The ordinary
| expenditures were $9,6ll,579, amount applied
| towards the redemption Of the public debt
and investments, $s,430,757: leaving a balance
Of ordinary revenue III favor Of the Dominion
OF $3l6,2s3 The estimates for the coming year are,
expenditures 900; revenue, $14 $685. 0o0 show
ing a surplus OF nearly quarter OF million. No
change Is suggested the customs excise tariffs
Hon. Mr.. Hot0n gave notice that an address
should be presented to her Majesty expressive OF the
deep interest felt IN the passage OF the Irish Church
bill.
Bishop Connolly of Halifax, is in this city, and
had interview with the Governor General to-day
concerning the case Of Father McMahOny. Dr. Con-
molly strongly urges his release
Speech Of the Finance Minister on Recipro-
city with the United States.
OTTAWA. May 8, 1862
The following is portion Of the Finance Minis
ters budget speech OF last night in relation to reel
procty:-
Before leaving this subject OF our trade relations,
both with ourselves and with the United States he
might be permitted to say word more with refer
might fairly say to them. we do not complain OF the
abrogatiOn OF the treaty: we have no fault to
find with your government for its action at that
time; know the peculiar difficulties IN which
you were then involved, and we know the state OF
public opinion which prevailed respecting us during
the war and for which our people and government
were blamed. We believe that since you have
formed juster impressions OF our conduct towards
you during the war, and that all rritated feel
that time sought to retallate. We have
during the continuance of the Reciprocity treaty;
we make every allowance for the exceptional cir
we have patiently. M to this me given YOU eveyy
advantage you had before. and not sought In any
way to enter upon retaliatory course towards you;
we have allowed you the free navigation OF our
canals and rivers and the use OF our
fisheries BY paying mere nominal
We have not sought to interfere with the transmits
sion OF goods In bond across the western peninsula
on us. we have allowed your flour, grain, hops,
coal and other productions to come in free for the
we cannot 90 on with this forever. The time may
come soon when we may require TO have
nao nqnd po pScy w be our s and BAT
those considerations which affect our resources.
In entering upon negotiations for the renewal OF
this treaty, we ought to let 1t be Enthusiastically I'M
commercial grounds less restricted intercourse with
our national existence for It. We must then be
equals, considering what is to be the material
advantage Vi DOlu COuntTIeS, duu lOT Tue pro-
motion of free and kindly intercourse. There
should be distinct enunciatlon Of opinions
in this country; that no matter how much
they may prevent intercourse with them,
we are not disposed to pay the price for that
intercourse by giving up our associations
our national existence He had great faith in our
ability to open up markets which would relieve us
from any temporary depression which may now ex.
ist. At one time 1t was supposed that England
would be utterly ruined by the loss OF the cotton
trade with America but we know that other markets
opened up, so that now lessithan forty per
cent OF her cotton comes from America. lie did not
desire TO say more on this subject but he thought
We ought not to exaggerate the injury to
trade OF this country, which, he believed, was
only temporary, by the restrictions trade
with the United States. The time may
come when this question may have TO be considered
IN more serious light; but this would be the time
to do IL, when we find the people OF the United
States becoming disposed to open up negotiations.
The Committee on Ways and Means at Washington
had almost unanimously reported in favor of open
ing up negotiations, and that report had been
unanimously adopted by the House Of Representa-
tives, and he believed that but for the extreme
urgency OF national AFFAIRS this report would have
been carried Into effect.