The sun., 1919-05-06
NEUTRALITY-SUSPICIOUS.
UNDER TORONTO'S
Report Shows Also Queen
City's Sinking Fund Is
Fourth It's Debt.
TAX RATE is 90 1-2 MILLS
Montreal Debt Doubled in
Five Years and Is Now
$174 Per Capita.
TAX RATE Is 90 1-2 MILLS
Special corvespondencs 10 TIE su1.


MONTREAL, May 4.-Statistics con-
trasting for 1919 the financial govern
ment Of Toronto with that of Montreal.
which were compiled for a member of
the City Council. were made public to-
day. They show that Toronto's civic
income is considerably greater than that
OF Montreal. This, It Is explained, is
due to two causes: somewhat heavier
taxation and splendid annual receipts
from various utility companies and mu-
nicipal enterprises. IN this connection
the report called attention to tho fact
that the area and population Of this city
are much greater than that OF the Queen
City.
While the debt of Toronto is more
than 500. 100000, It has a Sinking fund
OF more than ono quarter Of that sum.
The Queen City's sinking fund Is nearly
four times greater than the amount pro-
vided by this city. Toronto figures are
as follows:
Debt slo4 If6. 1872
Accumulated sinking fund on hand. 2s27s, 81
Making the net" debt ............... 1885. 81
Budget for current year.............. q. 5o2 5s6
Dept charges ..............'.'....'..' $500, 'Vo
IT. regard to this latter charge II Is
pointed out that s4,225,00O will be de-
s42 600 for exchange, etc.
For schools. colleges, ,s2i ia ~
Revenue apart from taxation ..... 7,03s 572. 90
The sum apart from taxation" Is
shown to be garnered from the follow
ing sources: Administration OF Justice
national exhibition franchises. licenses
rentals, railway tax, water rate, per-
mits. abattoir, parks, health fees. civic
car lines, hydroelectric commission. &c
Revenue from taxation. .............. si7,+eo 40
The realty tax rate for the current
year is shown as 2sI5 mills The year
previous the rate was 30la mills; thus
there was a reduction of 2 mills for
1919. Commenting on the Toronto
realty rate and how II must be kept
low IL future prosperity is TO be as
sured. the following is tho striking com
ment OF the Toronto Commissioner OF
Finance:
"Toronto's future greatness depends
largely upon her ability 10 attract indus
tries and industrial workers. and it is
believed there is no one factor which SO
materially assists In This as a reasonable
municipal tax rate. While a reduction
to 2sL mills has been brought about
that cannot be regarded as a reasonable
rate, and an earnest endeavor must be
ma do TO bring about further substan-
tial reduction
Popuis ton Of Toronto. ...,,.,..,..,.... 4sa,ss1
Area acres -. ............. ........... a5,7c2
Montreal figures are as follows:
Accumulated sinking fund ............. 5000. 40
BUDGET for the current ycar.........., ~ 900. 80
Debt charges troughly) ....,............ 100000
Montreal is not in the happy position
Of gathering anything like $1,000 900 a
year from sources apart from taxation"
Total revenue for eis.....,..,...... s1s 900 ooo
Rate on realty for current year. 20
mills.
Civic officials point out that what
handicaps the Administrative Commits
sion is the huge 100000 interest
charges This eats up over third of
the entire annual revenue.
The interest charges have doubled
since 1918.
The total debt in 1918 was not more
than $50, 900, 900. The debt to-day IL
81 80 600. 900. Just what this debt means
vii! be better understood when It Is said
It averages about STA per capita.
From the following table IL will be
seen what the per capita debt 10 of other
big cities: