New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-28
OANADAs DEPLoRABLE FINANCES.
OVERWHELMED BY DEBT SINCE THE CANADIAN
PACIFIC WAS BEGUN.

By DEBT SINCE SANADin-'
PACIFIC WAS BEGUN.
Ottawa April 81 (SpeciaD.-The general impression
creaod by Sir Charles Tuppcr's budget speech, this
afternoon Is that the country is paying dear for the
blessings 1t is alleged to enjoy under tie present form
Of government The public debt OF S2I3,OoO,OOo has
been increased in round figures 10000 since the
Canadian Pacific was begun In 1881 the entire fiscal
polcy Of the country changed to counteIbalance
the au cmented public burdens. Yet the revenue from
customs aud excise has fallen from $23oOOOOO In 1883
TO 800 0OO 900 in the current year Exports, which In
1852 were S1O2, 100000 have fallen to $50 OOO ano
the imports from $132 600 in 1888 TO
AT the time the Confederation was accomplished the
gross debt was S75o00O00 and the country had public
works and other assets, Its actual property amounting
to SIT 100000 Twenty years Of peace have brought
the country gross debt of $273,oO0,0Oo with assets
valued at AS, 900. 900
II Canada had absolute sole possession OF tho
Canadian Pacific TO show for the of millions In
cash given outright to that corporation besides more
scores of millions in land Canadians could understand
IT, but not an inch Of the road belongs to the Govern
ment and these immense sums simply disappeared
swallowed up make monaires Of needy spectators
adventures end financial sharks in this country anC
England Tho INDICATION Of the rejecting classes IS az
tho boiling point, but nothing has been more cleSry
demonstrated than that the opposition is poWeness
against the compact Ministerial ma GRITTY Sir Charles
Tnppes speech Is clear and concliatoy but It fallco
10 convince single heaer that the country VIII eyer
have value under the present regime, 10 show lol
the hundreds Of millions Of public debt.
Little interest was manifested in Sir ChaIles,s
speech, II known that the Government did not
intend to propose any tariff change The surplus
revenue, expenditures, for the year ended juno
80. last, Sir Charles said, S937 The estimated
revenue this year $4,000, ,0OO and the estimated
expenditures S37 ,000, ,000 showing probable deficit
Of 81 900 900 for the year ending June so, next Inc
estimated revenue for 16s5-'o0 was S36,9Oo,O0o Inc
expenditures for the year would, however, be kept
down 10 wipe out tho probable deficit Of 81 ,OOO,OOO
and make the two years balance one another. ~,
year ago. the speaker said he had referred to the
very unpleasant relations that were then threatened
between the United States and Canada. He was glad
that tho cloud had boon driven away by the Fishery
Treaty, which had been concluded between the two
countries. The Parliament of Canada would undoubt
edy raify the treaty but no matter what the action
OF the Senate of the United States might be, he be-
leved nothing would disturb the continuously bar
monous intercourse between the countries. 1t was
proposed TO perpetuac the good feling existing
by taking steps TO meet the provisions of the Mills
bill He believed Canada did not require a re-enact
ment OF the reciprocity treaty of 1854 in its entirety
valuable the results OF that treaty the Do
minon He had every hope that the Mills bill would
become law this and in order, therefore, that
Canadian lumber and salt might enter the United
states free, under the terms Of that bill the Govern
ment sought TO obtain power 10 abolish the export
duties by an order In Council.