The New York herald., 1871-03-18


by the Cnamplain route than by the Erie canal.
or course the press the politicians and the people
generally are INDUCING In
GOLDEN DAY DREAMS
OF the most brilliant nature over the nansforma-
Sa 81 ana the
OF the tolls OF the Western world. II Is true that the
s sP rSs ne as four mas yss1s ssa
THAI tns city has 2
possessed by. the st. Lawrence route, Mon
irea has not not long since distanced Got Gotham
this increase of grain-handling business In
Montreal continues depressed and its papers are
Dame street. from one end to the other, and new
firms are found-the Old ones are III the gazette.
were Morgan's Morrlsons, Bowie's Deiresne's @ and and
Merrs. The first and last alone stand; the others
Branch of BUSINESS Men mi ike Mr. Allan have maae
money-his bank has pfohteo-but the rate OF wages
Is no higher, the cost OF living is no less and manu-
facturers and property holders are Idle and losing
money.
1t must be taken into consideration before you
BLOW UP THE HERALD BUILDING
and migrate TO Montreal, Quebec, Patagumpus
or any other commercial centre" OF the Dominion
that New York advances all the capital TO purchase
and move the Western crops and that the current
OF freight must dow In the same channel as the cur
ei CARGO po way t"' ws Montreal craft s
carry ballast or cheap freight TO return with wheat
and lastly that to reach Montreal the stu danger
Give river passage have to be encountered. Unaer
American auspices Montreal will become the outport
OF Chicago and Duluth; but for costly express
freights, passenger rafc and the bulk OF the COM
merce not alone of the continent but of the world
New York must ever remain the heart OF America.
But TO return. Because the Commissioners have
recommended certain things, and because the
selves desirable, is no reason that we should con-
clude that these things will be done. Indeed their
pressing necessity initiates against the probability
OF their
IMMEDIATE ACCOMPLISHMENT.
In the rst place the present government has on its
hands the Intercoonial Railway, which is not to be
finished TIL 1878, and Tor which $6O00 900 appro
priated rs this year, We are pledged to survey he
self. We have Manitoba and Columbia
10 organize, and the islands in the Gulf to bring
into the confederation, and 1t is possible that we
may-ln view or the threatened secession OF Que
bec-haye to unite the various provinces into one
State, doing away with the local governments. In
view Of all this the canals Will have to wait. 1t is
significant TOO that the estimates for the year ending
june 1872, appropriate SOFA 900 Tor the canals OF
which $275,o0O are TO be devoted to the Carlton
Canal, ditch on The Ottawa. Sull more significant
speech at the opening OF the session. Treating the
canals to a commission instead Of taxing direct
legislative action Is delicate way OF dropping the
question
DOWN AN oUBLIErrB
into an abyss OF words IN which will be lost all
action. Commissions have been established here
so frequently TO ind missing 100000, to inquire
pint end red tape at dollar yard, and have ended
IN reporting that this existed and that should not
be done ana tnere an end ont that we have grown
suspicious Of the machinery. Perhaps the real OBJ.
Ject OF the Commission Is TO create stir, to show
the people how rich the canals could make them,
and by Q lavish expenditure Of words, facts and
figures to convince them that the short cut to Cahay
lies in voting for the Ministry at the general elec
os Whose public works nane ' pees ses
useless and non-productive to the country
should desire to make a great fuss at It's
exit with some scheme Of real service and TO carry
its next election on the canals and Pacific Railroad
as 1t did the last on confederation and the inter-
colonial
II the work OF canal extension were undertaken
in good faith 1t would deal severe blow to the Erie
Canada gives any sign OF PRACTICAL action, and she
cannot move sooner, II will then remain to be seen
whether, at the hands OF the people OF New York.
counterstroke is not practicable, taking up some
canals free OF tolls to all seaward bound grain.
The Finances Of the OOminl0n-Receipt and
Expensiitures-The Growing Debt-Reclkless-
ness and Extravagance-The Policy Of Re-
taliati0n Adhered to.
OTTAWA, March 13. 1871.
The Minister OF Finance having made his annual
budget speech and enunciated the policy of gov
being before the public, am enabled to lay before
the readers OF the HERALD o brief review OF the
financial position Of Canada.
The receipts for the financial year 1s69-7o, ending
on the 3Oth June last S22 ALL composed Of
the following items:-
REVENUE.
CUSTOMS ana excise. s34
PuDllc WORKS ........................ l,0O6S44
Otner sources. 677,9S2
LOANS, ETC.
n