PROVINCIAL FINANCES.

Westport Times, Volume III, Issue 419, 3 December 1868, Page 3

PROVINCIAL FINANCES.

In correcting some figures quoted by Mr Luckie, the Nelaon Examiner gives the following statement of the finances of the Province : Then as to the present indebtedness of the province, Mr Luckie will, we are sure, be glad to learn that he is wide of the mark. Instead of a " debit against the province of nearly £35,000," he should have said of about £25,000; and if ho wished to convey a correct idea of our financial state, he should have added that there is due to the province by the General Government, as nearly as can be estimated, the sum of £15,000, which reduces the actual liability of the province beyond its assets to about £IO,OOO, leaving it as near as may be in the state it was " less than two years ago " —if eighteen month is accepted in lieu of that indefinite time.

To prevent misconceptions, we will observe that the above statement includes the repayment of the £16,000 over-advanced to the province by the General Government in the early part' of the year, and on the other hand the absorption of the £12,000 deposit. Mr Luckie refers to was held by the Bank, but which was appropriated by the Council in the last session. It is not satisfactory that the province should be indebted in so large a sum even as £IO,OOO, but everyone will rejoice to learn that our debt is not one-third the amount of what was Represented. The large reductions in the expenditure upon public works, combined with those effected and in course of being effected in the number of offices in the Government service will, unless the revenue should show a serious decline, soon restore our finances to a healthy condition, notwithstanding the almost insurmountable derangement occasioned by the blunders of the General Government officials.