The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-16
THE NEW DOMINION.

Mr.. Cartwright Discussing the Canadian
Budget for the Fiscal Year-A Heavy
Deficit To he Overcome-Ffnancial
Condition of the Country.
TORONTO, ont. April Is. 1874.
In Parliament last night Hon. Mr.. Cartwright
delivered his budget speech. He addressed him
self to the financial position OF the Dominion at
the present moment, the obligations incurred, the
available resources OF the country, the state OF
the expenditure and the revenue prospects OF
the coming financial year, and the means by
which the expenditure Is to be provided for.
At the opening Of his speech the Finance Minister
placed in the hands OF the members q comparative
statement OF the receipts and expen diture for the
seven years that have elapsed since the c0nfeder-
alton, taking the estimates Of receipts and ex-
penses for the current year, which expires on the
30th OF June, 1874. Mr.. Tney's total estimate of
income for 1874, was $21, 100000 His appropr-
ations for all purposes, finally, amounted to
$22,5s6.72o, exclusive OF 100000 taken for
special purposes In connection with the
acquisition, last year, OF Prince Edward Island.
This, consequently, showed deficit OF $s46727.
Up to this year there had been an annual
surplus, amounting In 1870 and 1871 to the sum OF
nearly s. OO0, OO0 An important element In this in
crease was public works, chargeable to income,
the charges under which head had been altogether
out OF proportion to the receipts derived from
these national undertakings. On the other hand
IL was satisfactory to find that the revenue had
held its ground for 1t had increased rather than
diminished. Notwithstanding the abolition OF the
tea and coffee duties. careful reorganization OF
the charges not included by Mr.. Tilley in his calcu-
lation, show that he should have brought down
estimates for or not esS than or seooo
The customs duties Tor the year will probably
show some increase, the excise will also exceed
creased; but while the public works chargeable to
the income have fallen on TO the extent OF 5000 000
the expenditures thereon has been s4oo. 600 more
population Of the country but the expe1dttu are
is one that cannot be very largely affected by any
effort Of the government In the direction Of reduc-
ton.
enue the fixed charges and costs OF collection,
there rema ns for 1923 but So $50, 900 Of net In
come, and, after Q very careful scrutiny of the
see no immediate prospect OF Q decrease,
In view Of the gradual growth Of the Dominion,
the l6ss SUSTAINED epon public
works from the completion OF the operations now
IN hand and other savings upon the annual outlay.
the eight months OF the year already expired,
factory to note that the exports have increased
from $50 $4,000 in 1928 to $62 742 900 in 1s73-
se o. 1ne
tistics with respect to the growth Of population,
average income per family and their ability 70 bear
IhAdtlOu Us COmpaIcu Will TIC peopV VI WY
States proceeded refer to the estimates for 1874
and 1875, and showed, by going through the sew
for 1874 ana 1875 over the expenditures OF 1878 and
1874, to the amount OF $500, 000 was divided ex-
clusively between the loss In working the Prince
Edward Island Railroad and the increased charge
OF interest or the addition to the public debt.
Mr. Cartwright glanced at the nature of the ex-
penditure entailed.
the Finance Minister ventures to anticipate
that the gradual growth OF the revenue will, II the
income and expenditure were balanced by the
financial ARRANGEMENTS he proposes to make, be
equal to the further enhanced expenditure the
prospective UNDERTAKINGS on tne capitol account
tn Yes an addtionai sum OF So, 900 900 for 1874-5
the following some OF the articles upon
which he proposes additional taxation -Ciaars
and tobacco tea, sugars, wines, spirits silks
satins, vevets fancy goods, jewelry, &c.