The New York herald., 1871-03-18


money advanced by England to build the Interna-
tionai for the purpose OF redsemng Canadian bonds,
qualification from the fact that Canada imported
thrice as much manufactured goods from England
Mr. Cartier yelped applause, stating that zone
Canadian wash as goor rs tree Yangees." seemingly
ment valued his head at $500 sterling and oeivIous
OF the fact that the prosperity OF nation not TO
be gseged hy the amount sne m any
the States, consuming as they do more per head
than the Canadas manufacture largely, and send
Us SO, 200 year OF their surplus. To return,
however, Sir Francis Hlncks then read long ex-
tract from Macauy to prove that national debt
was
NATIONAL BLESSING.
For the year 1S69-70 he recKoncd on surplus OF
$1,000 600, the customs revenue having exceeded
the estimates by about sixteen per cent For Is7o-I
he placed the expenditure at sl5,9oO.olo, and the
at be claiming IS
n he could save enough. For 1912 the total esri-
mate was Of which the actual amount
ing, o f'Hi in A cSstsms q snss0a sSoS5nSo sap sa
priation OF 100000 to introduce new decimal
system. or weights and measures, which would re)
very favorable result and 1t might be thought that
the government should make more extensive re-
dne axaon at present "S e mod ucg coa
nour woulo be removed, and discretionary power
would be asked. 80 that the Governor in council
might from time TO time add certain raw materials
used IN manufactures to the free list 1t would be
most unwse to alter seriously our tariff while nego.
tiatons were pending
AT WASHINGTON.
Machinery which could not be manufactured here
would be admitted free and duty of one dollar and
nifty cents per cord be placed on hemlock bark, so
as to prevent the stripping Of the trees by Ameri
dture would largely increase the national debt, and
that consequently Canada would again have to be-
come borrower in the markets Of the world.
The speech was a weak one and is only notice.
able rs show ng that the anti American spirit stll
prevails 10 the Councils OF the government and that
m.
eipatsa Wr Gaits answer vos astor,v ana c,,r.c,er
lied by all ihOs excellence5 which have made him
fully the equal OF Gladstone In financial debate. He
censured the government for adopting the danger
GUS heresy that national debt national bless
ing, and pointed out how the commercial progress
Of England had been made
IN SPITE OF HER DEBT,
not IN consequence OF 1t. It was poor policy to
continue taxing our people because a commission
was sitting at Washington. under the hallucinaton
that we were exertlng a pressure in America,
The government was monopozing and con.
trolling the capital Of the country to a most
banks Of issue insurance deposits and
other schemes the government was drawing to
Itself all the spare capital OF the country thus
creating treasury deceptively full and which in
vited extravagance in public works. The govern
economical. There were two classes OF expendi-
ture-one authorized by statute, one controlled by
cent since 1866 thirty per cent within the last two
years. heavy expenditure such as was projected
so hurry the country onward to
FINANCIAL DISASTER.
The regular expenditure was increasing more ra.
pidy tnan the revenue. We should come TO u crash
ere long, and when the evil day came the people
would find that the largest portion OF the sources Of
the countrv's prosperity was invested IN the debt
and not available in the emergency. After critcising
the budget in detail, he moved resolution express
ing alarm at the financial state OF the country that
he might record his vote against the present danger
Gus state OF affairs.
long debate ensued. The only noteworthy state
ment was that OF Mr.. Tilley, Minister OF Customs,
the effect that the reduction OF the duties on
COAL wheat and flour would weaken the
hands OF the Commission and would be unwise,
as the result Of the Commission would probably be
commercial treaty. MI Cartwright pointed out the
danger OF policy tending to in1at0n. When
trouble came We should have sum Of SIS, 0O0, 900
OF our debt on call which we could not meet. We
were tending onward to another crash like that OF
1857.
Mr.. Gat's motion was lost by 81 to 35, about one.
third OF the members being absent the local elec-
tlons at Ontario The tariff was amended so as to
take OF the duty OF five per cent the fifteen per
cent list (which had raised that to l5szh and the
House adjourned