1 a ae ee
= yo aan ~ - ” ~ cera Se
se nl a ae
ba
; A bs “ wat le es Se TT a 5
a if “
ol as
ee ee
ante aie
ee
a)
; iy THe Dairy EXAMINER {g Published every Ey omine, OFFICE: INGS’ BUILDING, CORNER OF WATER AND GREAT GEORGE STREETS, Charlottetown, P. E. L
KATES OF SUBSCRIPTION :
Six Months, $2 50 Three Months, e One Month, 0 50 (ne Week, 0 12
s@® Advertising at most moderate rates.
Contracts ray be made for month!y. quar- terly, or half-yearly advertisements, on appli- cation.
W. L. COTTON, Manager.
J. W. MITCHELL, Office Sup't
Tue Dairy EXAMINER.
JUNE 11, 1879.
The Banks of Canada.
Tue St. Jokbn Su» has an article on this subject which is worthy of attention. We quote :
‘The admission of a large and wealthy Bank that, with all its resources and capital, good management, large and experienced staff of officials, and other advantages, it is unable to earn a dividend in these times of commer- cial depression, should act as a warning to s nvaller Banks that it is an unsound policy for them to endeavor to bolster up their affairs by paying large dividends, and thus Jull their shareholders to sleep in a state of false se- curity. Dividends can only be paid out of profits, and these the nett profits realized after providing for bad and doubtful debts, charges for management, ete, Asa rule, there have been no profits in Banking for the last year or two. It is true the Banks have add- ed nominally to their capital, but how has it heen done’? By charging interest on renewals ! It isa well-known fact that business men are not able to retire their paper by making cash payments, because sufficient specie does not exist in the country, and commerce is so de- pressed that the trade of the country will not admit of reducing accounts by exports or the returns from shipping. Consequently the banks have been compelled to take what- ever payment they can get on account and renew the paper by adding interest, thus running up a fictitions profit on paper. Suppose business continue to be unprofitable
-for any length of time, what would be the re-
sult under these circumstances? A customer would find that whilst he was not making any profit in his business, or perhaps sustaining severe losses, his” notes in the hes would every three months have. interest added to them, and by a species of compounding at last arrive at such a size that all his personal and real estate wouki not be sufficient if realized to meet his indebtedness on these notes. If the whole community were to undergo this process it would result in the banks becoming possessed of all the fixed wealth of the coun try. Then, if they were to seek to convert their securities, they would find they were - sellers and that there would be no buyers, be- cause there would be no metallic wealth to purchase with, even at depreciated rates. Thus, by a system of high rates, squeezes, and false economy, the property of the public would get into the hands of corporations and become no longer valuable, because the bone and sinew of the country would not have the wherewithal to carry on business in the shape of curreficy, or what will circulate for the requirements of the exchange in business.
**Let us look at the state ef banking in Canada for one moment. The banks hold some $6,000,000 of a and about $8,000,000 legal tenders, or in all $14,000,000 of legal tender. Their loans amount to $150,000,000.
“What does this balance of $136,000,000 re-
resent? Why, lumber, ships, grain, mills,
ouses, timber lands, stocks, farms, mines, etc.; in fact, the resources of the country. 1,’ immediate paymen*® of this amount were de- manded, how could it be met? There must be universal baukraptcy so far as Canada is concerned,
“Tf we turn to the banking returns from month to month, we will see that whilst the indebtedness has increased to the banks, the gold aud legal tender has not increased, aad
uently any Bank paying a dividend must be paying it out of its reserves, or its available funds world show from time to time an increase, which is not the fact. In other words, it is a fictitious dividend.
‘If there is no quantity of gold in the country, the banks find their means locked up in property, unrealizable for the moment, and common prudence would dictate to the Bank of Montreal the course it has adopted at this critical period in the life of Canadian banking.
The circulation of Banks in Canada,
SE EG che cae sss ae 319,000,000 Deposits on demanidl.............. 33,000,000 de. after naticoe.........:... 34,000,000 Total,.......4.........$86,000,000
To meet, which the
Banks have in gold. ..$6,000,000
Legal tender.......... 3,000,000 $14,000,000 Due the public. . . aoe eS $72,000,000
How could this be met if the lose confidence in the Banks an money *
Here area few more suggestive figures : Gold and legal tenders
> ae Debts overdue and not
specially secured. ..$3, 100,000
blic should require their
$14,009,00
Do., do., secured.... 4,000,000 Real Estate......... 2,100,000 Bank l’remises..... . 3,500,000
Loans made to Direc-
tors and Directors’ liabilities... ....... 7,500,000 $20, 200,000
6,200,000 the locked up capital and loans to Directors being more than the available funds of all the Banks.-
“ The loans to Directors vary from $1,060,- 000 inthe larger banks to $30,000 or $40,000 in the smaller, and it would not be uninter- esting to make a table showing how these Sengge have fluctuated for the past year. aie sue of how the Dominion Parlia-
arters is one full of import-
?
fuit accompli.
PEDESTRIANISM.
—_
12 Hours Walking Match.
Ten competitors started on the Walking Match at the Citizens’ Skating Rink at 10.52 this forenoon. Previous to the start, Dr. Strikland on behalf of the directors, announced that the prizes would be a belt and twenty-five dollars for the first, fifteen dollars for the secend, and ten dollars for the third. All seemed satisfied and started in good spirits from the south side of the tink in the following order: —
Thomas Wakeland and Archibald Kinnon.
Owen McClosky and John Pemphraise.
H. MeNeill and John Franshaw.
John MeInnis and Jos. Carroll.
Job Bevan and Thomas Crowly.”
[t isthe general opinion that the majority of the contestants are walking too fast, ‘and that they will lag greatly or fall off
Me-
|
before the close. But. two—Wake- land and Crowley—have anything of a stylish pace. The style of walking of
the others is ridiculous, while their dress— consisting of linders and pants and wretch- edly crooked boots—is the cause of much remark. The attendance of spectators so far has been small but a crowded house is expected at the close.
MILES. LAPS’ ee, MERINO. 6 oa. 5 a ee 33 7 pS EEO LI PE 22 S John Pemphrase.............. 22 S Thomas Wakeland............ 2: "34 roe 21 7 as Pe as. os ch i Ges 21 at Owen McCloskey.............. 20 15 I SE oo bec nn 08004 20 10 Pe cay oa 20 10 Pi, Mc 5 oe os ks 13 2
*“Withdrew at 2.15.
Dufferin Terrace.
THE GOVERNOR-GENERAL AT QUEBEC.
At half-past two on Monday the inaugur- atien of the Dufferin Terrace became wn The weather was altogether lovely ; and in consequence the terrace was crowded with citizens, among whom were many ladies. The Gubernational party party with an escort and band arrived at Terrace shortly after the hour fixed and passed through the main alley of the lower Gevernor’s Garden and wended their way to the Kiosk, which is destined for a band pavillion, where. they were received by the mayor, City Clerk, Aldermen and Council- lors, and the City Engineer. The Kiosk was handsomely decorated, being roofed with blue and white strips in alternate
‘stripes and aliogether prettily ornamented
with flowers and cupids. The raised dais was nicely carpeted and commadious chairs placed for the party. At different points on the Terrace flags were gaily floating, that at the south end bearing thename of Plessia ; that at the north end that of Frontenac. In the centre one bearing ‘‘ Victoria, Lorne and Louise” was exhibited between the Victoria and Frontenac banners, and *‘ Dufferin” floated bravely from a flagstaff between the places of the Victoria-Plessis Kiosks. The band pavilion is erected on the rock at the rear of the Terrace, so that their Excellen- cies, while’ declaring the structure open to the world, faced the river, which would not have been had the proclamation been made for the Lorne-Louise Kiosk as at first intended. A detachment of B. Battery was drawn up as guard ef honor at rear of the Kiosk just in front of the green house now in course of construction. The distinguish- ed party having been received by the Mayor, his Worship addressed a few words-to them thanking his Excellency and H. R. H. for their presence and asking the Marquis of Torne to pronounce the Terraee open. His 'uxcellency then declared officially that the ‘¢ Dufferin Terrace’ was open to the public amid ringing cheers.
Afterwards his Excellency drove to the Queen’s wharf and e:inbarked on the steamer St. Ceorge for a trip around the harbor.
iain atiiilied
Nature and Use of Plaster.
The question is often asked among farmers, of what use is plaster? And it is seldom a satisfactory answer is given them. Nearly every farmer who has made an application of plaster hal made it serviceable at any time, without profitable returns at another. Not one in a hundred knows the reason for success or failure.
Most people found the application to clover attended generally with good resulta; some found it good sometimes for potatoes ; but not a single one could tell, what is plaster good for? Chemistry solves the question: Plaster is a sulphate of lime. Sulphuric acid had an affinity for ammonia, and when it finds ammonia it breaks up its partnership with the lime and combines with the ammonia, form- ing sulphate of ammonia, and this not volatile. The lime finds a companion, when deserted by the acid, forming carbonite of lime.
Hence it will be seen that when the farmer has ammonis in his soil put there by himself in manure, or any or in any other manner lia- ble to waste, the plaster will fix it there, and and in all such cases it will be applied with protit. The odor about stables and manure heaps is escaping ammonia, and the farmer can judiciously use a little plaster in both cases, saving the ammonia for his land.
Plaster saves to the soil-nitrogen, one of the chief mineral agents entering into the growth of err ammonia is three parts hydrogen and one part nitrogen. Ammonia escapes from decaying vegetation whenever it is found, and is suspended in the air, and when, after a long spell and considerable quantities of it; has ascended, the first rain brings it to the earth, and if there is a little plaster in the clover field the ammonia never rises again.
Plaster can be obtaimed in this city ou ap-
plication to Messrs. Hyndman, Bros.
Tue scuooneR Josephine, owned by Capt. Chiverie, leaves this port this evening with a party of American gentl»men fora pleasure excursion in the Gulf of St. Lawrence.
_><-— —----
REGULAR convocation of ‘‘ Port la Joie En- cam t”’ for nomination of officers, will be held at Odd Fellows’ Hall this evening, at 8 o'clock. Other very important business will]
islate piring Bank wh next year to meet the ex- ance.
The following is the score up to 3 o’clock :—|
Correspondence.
gw We donot hold ourselves responsible fur the gtatements or opinions of our correspondents
— —_ = — ee —— —————— oe en
Anothe® Letter from the Provin- cial Auditor.
To the Editor of the Examiner. Sin,—Referring to your remarks in yester- day’s EXAMINER in reference to my letter, I
ment issued the warrant to cover the expendi- ture ef $2,814.21 within the year, the whole object sought, namely, the early preparation of the accounts for the Legislature, would have been frustrated, as its issue woul. have necessitated the opening afresh of the numer- ous accounts in the Public Works Depart- ment.
I wish to say also that I can prove beyond a doubt that former Governments carried over
‘much larger amounts in a similar manner; aud
it will be done again, unless the financial year is altered so as to give sufficient time between the close of the year and the meeting of the Legislature to prepare the accounts.
Officials’ salaries are paid® monthly, under a standing Order in Council. dated 22nd Dec., 1876, so that no special order is required to pay them.
Yours, ete., Frep. W. HyNDMAN.
June 12, 1379.
(Mr. Hynpman does not reply to our arguments in answer*to his first letter; and the question on his part has dwindled down to the statement, that if the ‘‘ Government had issued the warrant to cover the expendi- ture of $2,814.21 within the year, the whole ebject sought, namely, the early preparation of the accounts for the Legislature, would have been frustrated.”’ We cannot see that the early preparation of the accounts was so important a matter as the proper entry of payments when made in the books of the Public Works Department. Even if it was necessary to close the books early in De- cember, the total amount that was paid might have been included in the warrant which was issued the last day of the year, and entered upon the books of the P. W. Department. The beoks were kept open and entries made up to the 27th of December. The Auditor has not furnish- ed the proof that former Governments carried over sums that were paid in one year and charged thein to expenditure of the following year. Until Mr. Hyndman does so our statement made in yesterday’s issue must be accepted as true. The barden of the proof lies with him. If Mr. Hyndman’s account, as prepared under the Davies. administration, had not been sup- plemented by. subsequent statements the public would have been deceived in the transactions of last year to the extent of $52,000. The late Government “‘ squared up” to December 1876. The late Govern- ment is therefore solely responsible for the large amount expended in 1878 and charged in the accounts of 1879. }
cdhipcaeieestitiitniatiitl aaiiige. 2 COUNTERFEIT Dominion fifty cent pieces are in circulation_in this city.
THE barque Journal sailed from Souris for Bristol, England, with 30,188 bushels oats, shipped by O. Connolly & Co.
Tur City ‘‘sprinkling pot” made its debut this morning. itita good thing of its kind —but a very bad kind.
SES
——— ee
Special Notices. GooseBERRIES, rhubarb, and apples, at W. F. Carter’s. 3:
ALL persons who want good tea, very cheap, in small caddies, better try May, Kelly & Uo.
CUCUMBERS, W. F. Carter's.
towatces, and onions at
3i
Fixe Worsrep Svrvs, made to fit perfectly, for $17, at George E. Fall’s Custom Tailoring Depot.
on CREAM, and strawberries and cream at .F. Carter's.
May, Ketrty & Co. sell the chéapest tea in the city, in small caddies from 5 Ths. upwards.
A Frxr Tweep Suit, worth $20.00, made to order for $16, at George E. Full’s Custom Tailoring Department. -
THosk Woop Spins at Bremner Bros. are very nice for picture frames and fancy work, and are quite cheap. [june 9 3i]
May, Keniry & Co. are selling umbrellas from 25 cents upwards.—june 9 3i
SHIPPING NEWS. PORT OF CHARLOTTETOWN.
ENTERED. June 11—Schr. Alpha, Souris, ballast. "CLEARED. June 11—Sehr. Alpha, Georgetown, 300 bags salt. OUTPORTS.
New London, June 9—Cleared schr. City Point, Halifax, 2480 bushels oats and 780 do. potatoes.
Pinette, June 7—Cleared schr. St. Ann, Magdalen Islands, potatoes, boards and shingles.
Souris, June 7 —Cleared the schr. E. Hodg- son, for Harbor Breton, Nfld., with 30 head
1 crate hens.
New York, June 4—Sailed barque City of Charlottetown, for Barcelonia. Quebee, Jume 6—Arrived barque George Peake, MeDonald, Barbadoes.
Portsmouth, N. H., June 6—Arrived sehr. H. I. Gibson, Sawyer, Summerside, P. E. I.
—-+-—~_~-- ~~» <- ~<a -e eo
HOTEL ARRIVALS.
RANKIN HOUSE, — June 10. —W. M. Patterson, sSpalmat Eng., —
Rod. McDonald Halifax ; Thos. Spelman, do. ; John S. McKay, New Glasgow, 3 ros hoes eae te 4
n .—G owatt, C d; G. Hamilton, Montyeal; M. Petnie,
be transacted. ‘4
Mills, Ontaria.
wish to say distinctly that, had the Govern--
3i j 4
EYE GLASSES
a large lot of Spec- Eye Glasses, with f am prepared to fit ‘ Optometer, juiring them,
Hin + imported tacles and
assorted cases to suit,
them withthe assistance of a i
to suit the eyes of anyone rec
at reasonable prices. si , , w. W. WELLNER,
81 North Side Queen Square.
Ch’town, June 11, 1879. —4itw wkly patasj4
~ CAUTION.
caution all persons against
negociating for a prommissary note made by me in favor of C. U. Jones for the sum of seventy-five dollars, bearing interest from the 24th of April, 1879, as | have not received
any value for gaid note. pees JAMES ARTHUR. Bradalbane Station. June 9, 1879.
~ HEREBY
——————
MORE NEW CLOTHS |
BEER & SONS’
‘Custom Tailoring Department.
June 19, 1879—
BEST ©. 1 London White Lead, Turpentine,
Oils, Colours, Gold Leaf, cheap. BEER & SONS,
June 10, 1879-
ee CHALLENGE. TEAM of Ten men from the Charlotte- % town Engineers hereby challenge Ten of No. 2 Company, 52nd Batt., toa Match, on the Kensington t less than FIF'Y
men friendly Shooting Rifle Range, for a sum no
DOLLARS a side. Regulations in accordance With those of the D. R. Association for 1878. Ranges 200, 400, 500 and 600 yards, seven shots ut each range. Open for acceptance till 16th inst. Prelimi- naries can be arranged with the
On behalf of Team,
ALEXANDER
asta
HORNE,
June 10, 1879.
THVENDERS, addressed to the Postmaster I General, will be received at Ottawa until noon, on Friday, 15th August next, for the conveyance of Her Majesty's Mails, on proposed Contracts tor four years, from Ist October next, over each of the following routes, viz :—
Alberton and Kildare. .
Alberton and Lot 6.
Alberton and Railway Station. Alma and Railway Station. Barrett’s Cross and Darnley. Barrett's Cross and Railway Station. Bay Fortune and Souris Fast. Bedeque and Summerside. Bloomfield and Railway Station. Cape Wolfe and Lot 4. tas Cardigan Road and Railway Staion. Cavendish and Hunter’s River. | Charlottetown and Railway Station. County Line and Railway Station.
undersigned. |
County Line and Somerset. — Darlington and New Wiltshire. Darlington and Railway Station.
Farmington and Head of St. Peter's Bay. Fifteen Point and Miscouche.
Freetown and Lower Freetown. Freetown and Railway Station. Georgetown and Railway Station. Graham’s Road and Springfield.
Holmes’ Mills, (Bradalbane, ) and New London.
Station. Higgins’ Road and Wellington. Hunter’s River and North Rustico. Hunter's River and Railway Station. Inverness and Railway Station. Lot 10 and Railway Station.
Lot 11 and Railway Station. Lot 12 and Railway Station. Lot 14 and Railway Station. Lot 35 and Railway Station. Marie Bridge and Railway Station.
Miscouche and Railway Station. Miscouche and Southwest, Lot 16. Montague Bridge and Railway Station. Montague Bridge and Valleytield. Montague Bridge ana Victoria Cross. Morell and Morell Rear.
Mount Pleasant and Railway Station. Mount Stewart and Railway Station. Pisquid and Railway Station.
Port Hill and Railway Station.
St. Eleanors and Summerside, Scotchfort and Tracadie Cross. Skimner’s Pond and Tignish.
Souris East and Railway Station. Summerside and Railway Station, Summerville and Vernon River. Tignish and Railway Station. Tracadie Cross and Railway station. Traveller's Rest and Railway Station. Welli n and Railway Station.
cattle, 84 sheep, 40 pigs, 20 bbls. potatoes, ' Wilmot Valley and Railway Station.
- } Post Office Inspector's Office, }
B. Petnie, Doon
West Point and Railway Station.
Tenders are to be made for each service separately.
PRINTED NOTICES containing full in- formation as to conditions of proposed Con- tracts may be seen, and blank forms of Tender may be obtained at the Post Offices at which the services commence and terminate, or at the office of the subscriber.
W. W. McLEOD, Ass't P. O. Inspector.
‘ .Charlottétown, P. E. L,
23rd May, 1879. _ \ jun 6 3i {auth. papers viz: her ar pres prog kea 3i
TUMINER, the Cheapest bey: aLY EX
and Princetown Road. |
Darlington and Rose Valley. |
Miminegash and Railway Station. i
Paper publishedin the Province,
A. MCNEILL,
_ AUCTIONEER, q RATEFUL for past favors, desi intimate that he is prepared tx *
‘ YOY , Yous éj “4 At WD CO; SA L ES Ok GOODS ot all kinds pe Tenemenis Stock at REPR a .
. J tETRENCH RATES. MENT
Woy
AUCTION ROOMS: No. 11 Queen Street, Ch’town, PLE June 9—tf + Island,
TWO-STORY HOUSE, on corner Pow. nal and Dorchest:r streets, a(ljoining the Wagstaff Hotel, and saow occupied by Mr Longworth. Possessior’ given on the Ist July,
Apply to WILLIAM MURRAY Ch’town, June 7--6i Baker
er
TO LET.
NOR THE SEASON, a one-acre excellent PASTURE on the Brighte Road, having a good fence ali round, Apply to J. D. MASON Ch’town, June 5, 1879 --3in cod -
EO I.
PDARTIES wanting ICE FOR THE SEA. SON, will please leave their orders at the FISH MARKET, Crafton street.
I. C. HALS. x
Ch’town. June 4, [S73—6i
TURNIP SEED
Fresh From Seotland,
Laing’s Purpte Tep, Champion, Green Top, Skirving, and the improved Swede,
Wholesale and Retaal, AT—
BEER & GOFF’S
Ch’town, June 2—
GRAND
ANNUAL PICNIC.
THE ANNUAL PICNIC GF St. Patrick’s T. A. Society,
Will be held on the beautiful grounds of Mr. Stepnen O'HARE, Fort ~ Augustus, adjoining Hag. gerty’s Wharf, on —
Wednesday, the 18th of June,
FPXHE Steamer Southport having been en-
gage for the occasion, will make two
trips in the morning, leaving the Ferry Wharf at 8 o'clock and 11 o’clock, sharp
Games of every description will be pro- rided, including Sack Races, Hurdie Races, Foot Races, etc.
A fir8t-class Refreshment Saloon will be prep erie on the field.
_ St. Patrick’s Brass Band will be in attendance, and enliven the day’s pro- ceedings throughout.
Tickets 25 cents; Children half price; to be had from the Committee, and also at the
will
Head of St. Peter’s Bay and Railway Station. | Boat. .
Parties from the surrounding countr
Holmes’ Mills, (Bradalbane,) and Railway [be charged 15 cents admission. Shouid the
18th prove unfavorable, the Picnic will come
off on the following day.
JAMES C, MacMAHON, Secretary of Committee. May 30, 1879--oaw : :
THE MOST COMPLETE STOCK OF Customs; ‘Mercantile and Law Blanks,
TO BE FOUND,ON P. E. ISLAND, —AT THE—
BOOK & STATIONERY STORE
— OoFr—
BREMNER BROTHERS, May 7, 1879.-——3in taw
MeKAY’S
LIVERY _ STABLES!
Coaches, Buggies, Wagons, and Horses, in Best Style, and at Shortest Notice, RATEHS LOW . A, }. McKAY.
June 4, 1879—I1m taw
LIME.
‘
a
JUICE.
Celebrated Lime Juice and _ Lime Juice Cordial. “5
BEER & GOFF
Ch’town, June 2—
Rose’s