THE CANADIAN BUDGET.

Globe, Volume IV, Issue 301, 31 May 1875, Page 4

THE CANADIAN BUDGET.

(Canadian News,') The budget of Mr Cartwright, which has just been presented to the Dominion Parliament, shows that the receipts for the past year amounted to 24,200,000d01, and the expenditure to 23,400,000d01, showing a surplus of 800,000dol. The estimates for the year 1875-6 were as follows : —Receipts, 25,250,000d0l ; expenditure, 24,000,OOOdol; anticipated surplus, about half-amillion. The increase in the interest on the public debt has been only 180,000dol, owing to the advantageous result of the loan. There had been a slight diminution in the iotal volume of trade, but it had been principally in values, and not in quantities. This apparently temporary check in trade afforded no evidence of a real retrogression, as all trades were fairly prosperous, with the excef tion of the lumber trade. There had been a magnificent harvest. Mr Cartwright congratulated the House and the country on the improvement in the finances of the Dominion during the past twelve months, and also [on the fact that, there being no pressing engagements, there was no necessity to impose fresh taxation. The hon gentleman then reviewed the financial obligations for the next nineteen years, and said that the Government were taking steps to consolidate the various loans, which he hoped would lead to beneficial results. With 20.000,000d0l from the surplus and sinking fund, and the same amount of Imperial guarantee in reserve, combined with ordinary prudence as to new engagements, they would be able to meet all the obligations contracted with British Columbia, and open up the vast territory of the North-West, while increasing the interest charge of the public debt by only 1,250,000d0l per annum for the next ten years. Mr Cartwright concluded by saying that the future of the Dominion would be a constant struggle for separate national existence, for which they must be prepared to make heavy sacrifices; but it would be much better that those sacrifices should be in the shape of peaceful expenditure, and opening up the vast resources of the continent, than in engaging in those costly wars and fruitless struggles which have decimated other countries, and for many years afterwards have been a serious drain upon their resources.”