- . - -B?? T
*e|||?ll^?' 3ml?l|?BB^^? t istfmates, ?oted -last aon:
iiS ^ ' - i ^tt id't#rihki?ng fund on $10,000,000 loan ....... * 670,367
y^'4- Xc?1 , - eyy^, ^on $10,.000,000 loan ....... 1,528,000
lu^'? ??.^'-^^ wiatltd interest on C. N.-P.R y... .................... 904, 223
;:;1 ta d i,fnterest-on. P. G.- E. Ry. (three payments? .... 948,050
i' ' ['- T" o - *'., tait l .. ... .............. ....... ........ . $4,050,640
N.B.-The $316,000 interest pald on P. G. E. Ry. last January was paid without authority
or ' vote of the House, or mention to the public, hence is here included. It should have been
' i -licblded in Bupplementary Estimates voted on April 3rd, 1916. Sir Thomas White, Finance
Mininter at Ottawa, says we must begin this year to pay the interest we guaranteed on
-C. N. P. Ry. (See speech of May 6th, 1916.) THE FALSIFI[CATION OF ACCOUNTS IN
: J.14 -SY1MlS TO BB BEPEATEI) IN 1916.
- MR. BOWSER TAKES GREAT' CREDIT FOR SECURING A LOAN OF
! , W,$000,000 FOR AGRICULTTURRA L CREDITS at 4 % per cent, but since the
bonds were sold at 15.28 per cent. discount, the loan must cost us at least 5.65
per cent. The "Monetary Times," June 16th, 1916, shows that seven out of the
ninf provinces of Canada have sold equal or larger amounts of securities this
year, all of them at a higher price than British Columbia; e.g., Ontario sold
$4,000,000 of 5 per cent. at par, and Nova Scotia $1,000,000 5 per cent. at
6 100.28, eacb for 10 years. British Columbia's credit has been so impaired
- 'that we could only get 84.72 at 4% per cent. for 25 years.
THE PROVINCIAL SALARY LIST in 1903 was $384,824; in 1909, when
Capt. Tatlow resigned as Minister of Finance, it was $541,486; and for 1915,
* $1,777,666. This shows an increase of $156,663 in first six years, and
' $1,236,780 in second six yeals of the present administration.
THE ATTORNEY-GENERAL'S DEPARTMENT along with Administration
i of Justice has cost the country in 1906, $298,147, or 76 cents per head. Mr.
Bgwser took charge in 1907 and by March, 1915, the expenses of his depart-
/: - ment had swollen to $1,134,810, or $2.89 per head; yet $39,500 extra was
iB paid-to four outsiders for revising the Statutes of 1911. Crown counsel in
B - different courts in 1914 cost $30,817, yet Mr. Bowser, receiving $6,000 per year
as Attorney-General, never appears in the courts. His total allowance this
:. year is $10,600.
IAND DEPARTMENT SALARIES amounted in 1914 to $546,103. Yet
^ I$'105,000 extra was paid to Messrs. Helmcken and Matson, and $79,050 to
. t, 0. Alexander, for purchasing the Songhees and Kitsilano reserves.
RAILWAYS
C(ANADIAN NORTHERN PACIFIC RAILWAY. Sir Richard McBride
in 1915 stated in the Victoria house that this province would never be called
upon to pay its guarantees on this railroad. In 1916 Sir Thomas White,
i Dominion Minister of Finance, stated at Ottawa that British Columbia would
ha ^-: e to pay its share of interest on the C. N. P. this year.
Provincial guarantees for the road -are about $48,000,000. Annual Interest 1s over
PACI1FIC GREAT EASTERN RAILWAY. Provincial guarantees=Principal
iY $31,710,000. Annual interest, $1,426,950.
S * Of this interest $316,000 was paid by the government last January and
?> two more payments are due in the present financial year.
-; Th?e charter states that Messrs. Foley, Welch & Stewart subscribed $10 000
cah. for the whole stock of P. G. E. Railway and deposited with the govern-
B-sit $250,000 as security for fulfilment of contract.
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