Financial Statement of the Hon. A. J. Matheson, Treasurer of the Province of Ontario

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Excerpt from Financial Statement of the Hon. A. J. Matheson, Treasurer of the Province of Ontario: Delivered on the 2nd February, 1911 in the Legislative Assembly of Ontario on Moving the House Into Committee of SupplyMr. Speaker: In rising again to make the annual motion that the House go into Committee of Supply, I have to con gratulate the Province and the Legislature on another very successful year, both as regards the Province and its people and their success in life, and also as to the returns made in our financial year.During the past year, ending on October 3lst, 1910, our current revenue was Our current expenditure was leaving a balance of on the right side. (applause) This balance might have been much larger with a little bookkeeping, considerably larger. We have not charged here anything to the hydro-electric for interest during construction. We have paid the whole of the interest falling due on the loan for that purpose - three and one-half million dollars - and they have not returned any interest on account ofthe money advanced to them, because all interest, both in railway building and on hydro-electric during construction, where there is no income, is necessarily charged to capital, and if we had simply given them that much more which is the interest during the past year - they might have returned it, we might have paid it into revenue and charged it on the expenditure side as a payment on capital.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.