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Che Daily Gxaminet

MARCH 7, 1885.

Merchants Bank cf P BE. Island. In 11 ursday’'s issue We published the Statement of the Mercha

Bank of P. E. Isiand—but had not time to make apy remarks upon tts effairs to-day, we

nest say that after giving the statemeut

In referring to the matter

me iuvestigation, we have to cougratu late the Sharcbolders, aud the Directors ; e-pecially, upon the very satisfactory

Ahitul nade That the expec atlous ol

ose who ussisted to lilt the Bavk ou! of the uvenviable ard to be regretted ition in whch it was placed by the panic of 18738 have beeu realized, we have no doubt. It will be remembered that iu the business panic to which we

‘

TET u

i ‘ -

and bonds wherever th>* same may be, mortgages on real estate beyond the city of Charlottetown, aud the average stock in trade within the city held during the year by persons ck

ing business in merchandise or trade of

sto ‘ks

any ki: d—ard tt isquite evident that un- less all these things can he reached, and rfair value placed upon them, a ‘pei

sonal property tax,’ must be partial in

| ifs operation, and therefore vexatious, It

is quite evident, too, that the difficulties

|in the way of a personal property tax are ‘also inthe way of an income tax. It

is very doubtful whether the Local Legis- lative has the power to authorize a levy upou certain kinds of persooal property aud upon incomes obtained directly from ources outside the City ; and it 1s very doubtful whether the Local Legislature would grant the authority, even though they have the power. Under these cir cumstances it would be arraut folly in

efer the Bauvk’s capital was shaken to} the City Council to depend upon either

the eXteut of about forty per ceutl., an ] since that time the institution has

; end although earniug a little over its working ex peuses, it was not permitted to pay auy dividend. About one year ago a uum- | ber of the shareholders were iu doubt as to whether it would not be to their

affair 3 ot

had to

do a very limited busiuess :

in‘eresis to wijud the the Bavk up. To their credit, be it sca d, a few of the pluckier share holders differently — thought that it would speak very little indeed lor the enterprise of the merchants of (harlottetown if they allowed this, the

thought

ast local Bauk we have, to go under, aud | thus leave this Isiand entirely d pendent upon the bavks of other Proviuees for banking uc the meo, and the money too, to place the Bank on « good footing: and to have

sllowed tito go iuto hig \idation we uld |

verv great

meeting of the shareholders

ave been a Was held, aud a resolution unbavimously passed that the stockholders should make a donation

» the Bank of a sam sufficient to place |

at par and enable the institu-

tion to do a business which would pay

the capil:

those interested a divideud at au early

date. A stroug board of directors “was

elecied, composed of Owen Counolly, W. |

A. Weeks, W. W. Suallivao, L H. Davies, Benj Heartz, D. M. Farquhar sou and L. L. Beer. These names were « sufficient guarantee to the shareholders that their interests were iu good hands, and to the public that the Baak meant busio¢ss. The task that the uew directors had to Phere was the carry- ing out of the resolution passed which was that each shereho!der to pay up 40 per ceut. upon h's stock or sell out to some p°rsoa who would. A vuumber of sharebolders were uot in a position to pay up, aud purchasers for their stock had to be found. With the experiences of the old Bavk Stockholders fresh in the miods of the people, purchasers were ditiicult to fiad. ‘The cousequenuce was that the Directors, although helding a large amount of stock ou which they had to pay, had to purchase vearly all the stock sold. There was also new business to be found, and a Jarger field in which to operate the Banks funds, both of which had been satisfactorily done.

On relerring to the staiement it wil! be found that the earnings of the Bank have been very good, consideriug that they have only had about six mouths’ use of the larger capital. It will aleo be seen that the Bauk’s available assets are equivalent to 44 per cent of its liabilities tothe public, This is much above the Canadian Banks, whose average is about

bo easy one.

2” per cent., many voing below 20 per |

ib’. Lo ihe retiring Director, Mr. Farqu harson, a great dea! of ita withdrawal from the Board was voluatary, aud due to bis own represen

It will please a large bumber |

tetious. 4 persous to see that the seat he vecated is filled by William MeLean, Esq., for- merly Cashier of the Bank.

With the present Board of Directors, and the very eflicieut aud popular Manager, Mr. Mitchell, we have every covtidence io the good old Bank, aud treet it will have along and presperous Carce

_—s «

perform was |

credit is due.| : . 1 Si, OU —iu addition to &12.000) vored

| from

personal property or iucome tor apy considerable portion of their revenue. ‘They will rely, if they are wise, ouly on

| such taxation as can, without doubt, be

collected—though they may, if they take measures to have the doubis which stand in the way of taxing personal property and income removed as soou «#s possible. The City Council have clear right to

choose,

/levy poll tax, and we think will have no

difficulty in obtaiving trom the Legis- ture meaus of enforcing it: means may also be obtained to secure payment of a tax or fees, in consideration of the par ticular benefits derived by certain citizens from our public schools, and these with

real estate aud the ordinary revenue are | ourmodation. We had

its revenue from in the present year. Mr Farquharson raised a point on the report that the Council inteud to dispense

mistake. A! with the services of Mr. Lewis as Mar-

ket Clerk, and there was a good deal of

talk about cutting down expenses. The |

| Council, it may be remarked, have little scope for the application of the pruning kuife to the Civic Offices. A City Clerk is required by law; the Stipendiary Magistrate’s Clerk is not under their control; neither is the Clerk of the City School Board. It is therefore im- | possible for them to amalgamate these lotlices; and it will be impossible tor them to economize in this way if not left | tree to act as they please within the | sinall limits they possess. Persons who | in one breath cry out “Jet the expenses | be cut down,” and in the next protest against the removal! of ap official who | cao be dispensed with, are, as Couacillor | Crabbe pointed out, volta litthe incon- sistent.

Mr. Dawsou’s plea for our teachers wasagood oue. We believe, with him, that there are few cities possessing so fine a body of teachers as Charlottetown; and we think, too, that on the whole, they are rather uuder-paid than over-

paid. But the reuts paid for school houses seem to be excessive, and might

well be cut down.

Public Works in P. E. Island.

The amounts iu the Estimates to be

| voted this year for the construction of |

| public buildings aud works are :—

| Charlottetown New D.minion Baild-

| ing. . i ea ... $30,060

| Montague Post Office; ete...... tec, a “unsmerside Public Building...... . &

Tignish Karbor improvement,........ (Lu addition to $4.000 voted last year ) Balance of reimbursement to the Gov-

erament of Prince Edward Island, in

struction acd maintenance of Harbor and River Works of Federal importance, Ist | July, 1872. to January, 1883, $43,240,-

Repairs to Breakwaters aid Piers, last year,

Tee estimates for Public Buildings in the island amount to $44,200, aud on account of harbors, etc., to $26,240.

For general tepairs and improvements in the Maritime Provinces, $10.00 is to be vored

Among the steamship subventions are :

voyage, for tive Vriuce Edward Britein or eputinental ports, $7.500.00 ° and for :

voyager, of steamers

steam communications

Lve City Meeting

Cie meeting ia Market Hali last evening | a+ strong tn veumbers and iu talk. But was,unfortucately,not of a kind to sive clear aud correct ideas on questions | involved iu the adoption of an equitable aud practicable scheme of CityTaxation : in } ouseq sently the conelu sion was to

Mouday

ef ! h@ Late

adjouru and meet again ou evelluy next.

The sereme approved by the Advisory Committee —to impose a poll tax of $2, which would yield (-ay) $3,500: to levy methird of one per . 54 000 000

cenf. ou (say) worth of perseyal property, and thus raise $13,333; to levy three fourths percent ou real estate, “aud get about $18 %50.00,—the amounts thus | obtained, together with the ordinary revenues oljthe city offices, making, say $46,083 —was ably presented by Charles Palmer, Esquire.

Mr. Palmer admitted that there might be serious diffienlty in carrying the scheme into operation owing to the in- definite meaning attached to the term ‘‘persoual property,” and to a doubt as to

he power of our Local Leyislature to alithorize a levy upou persoual securities eld by citizeas whose c»pital is invested vatside the city limits. The ‘personal property” which the commiltee propose shall be taxed comprises goods, chattcls aod eflects within the City of Charlotte tow o, nioneyv at

hhioters

interest «rp otherwise, debeutures,

¢ “Irities,

publie

Halifs x lottetuwn, alternately, £3,(00,00

\ corres] ondent at O tawa writes!

? ; that the veply ef Sir John McDouald to| the representation of our members that | the Franchise in this Provinee should be | leit ax it is, wes that “he wonld endeavor | to meet the views of the deputation iv | this respect, and would see them again betore introducing his Biil.

| i

Philology. ~ Ones of the most interestmig an] instrue- tive papers, so far read before the Literary and Scientitic Soci ty, was that of Mr. T. A. LePage, of Pririce of Wales College, oni | ” Langu ao,” delivered last everir g in the 7’. M Goa. lees parlor Mr. L Page disclaimed originality of ideas put forth in the puper, as the conclusions arrived at had only been reached after long and care- ful study by eminent philologists ; but it must be said that Mr. LePage has clearly comprehcouded the deductions of these great thinkers and reasoners, and in an ingenious and beautiful manner of illustration on the blackboard, showed how many of our Enzlich names of things may be traced back to thetr original roots. He clearly denmon- strated and explained whai is known as the “Gitom Law,” wiich the two noted Cer- mans, the Brothers Grimm, sclved after | much study and comparison of ancient and | modern Janguages, and those acquainted | with the eysfera, may alawst invariably | give its complement in Latin or other | ancient Jarguege from which? the word is devived, without further resea e'

. ~ inlining

See + * a 6, é Be ee OF

LALA ‘cae

all the Corporation cau expect to realize |

settlement of their claims for the con-|

To provide for a subsidy of $1,400 a)

Island +o Great |e nferred this title on the Bish« p of Rome, '

trom | Bishop, ‘‘and from the very first «xereized to Murray Harber and Char-|

i the preof of it.

LETTERS TO THE EDITS. |

“The Church in Council.’

Sik —L much regret that my brief remarks on the Rev. Gregory McDonald's address ou the above subject has caused | that Rev. gentleman such a vast amount of ! toil

it wili be seen in his very lengthy com- | muuicalion in Saturday's Examiner that he | takes strong exception to my right to eriti- cise hia address. He eonsiders *‘P. P.'s” | interference on a par with any reporter who | ‘might wish to enter any church and drag ‘the preacher into the public press, because the views enurciated do rot agree with his

on. Tt iok, however, that all your read ers, @xXer pt himself, will at once see tha | there Is ho pi rallel whatever Letween the | action er “PL PL” and that of the reporter | who enters the church. &e. “P. P.” did} not hear the address delivered—did not | force himself upon the lecturer ; but instead | of this, tbe lecture was ferced on him. A} ireport of it—which was all “*P. P.” saw— | appeared in THt EXAMINER, & newspaper leirculated, perhaps, more widely among | Protestants than any other in P. E. 1, Had} |this report passed upno'iced, some of your | | Protestant readers might have supposed | that the statements therein contained were | ‘unquestionable facts. Now that the Rev. wentleman has exhausted himsel’, he seems | anxious that ‘*P. P.” should get no further | hearing, and that the discussion should cease. But if his case is so strong why such anxiety to have “‘P. P.” silenced |

I trust, however, that you will allow me to make afew further remarks, and only a few | ate needed, as the rev. gentleman, notwith- standing his lengthy explanations, is forced to admit nearly every point urged by me | against ceriaim statements in his address | The points of agreement between us are very remarkable. Let us see exactly how While vnify is an essential mark lof the Church of Rome, yet he admits the following facts, viz., that the Jesuiis and | Jansenists, both within her pale, contended bitterly against each other on matters of faith ; that while an infaliible Pope excom- | municated the latter, another Pope, acting | with the same infallibility, execmmunicated and banished the former, even after they!

| we stand

had been nourished aud blessed by his |

|

| infallible predecessors,

| If, in the above admitted facts, the rev. | gentleman can see evidence of the unity of | his Church, I am satistied. Exercising the

irightcf private judgment, which his Church

denies to me, he severely criticises the act |

'of Pope Clement XIV., who excommuni }cated the Jesui‘s, and asserts that his act | did not come within the domain of faith land morals. He should, however, have |known that the domain of morals can be | made to cover nearly every ecnceivable act, | and further that it is only an infallible Pope | who 1s qualified to decide where this domain begins and where it ends.

He admis also the bitter opposition in the Vatican Council of 1870, to the new dogma of Papal infailibility, but aays it was ov a waiter of pure opinion.” Pope Pius IX, however, when speaking ex-cathedra, affiimed thet it had been a belief always held by the Church.

How strange then that it should have been opposed ; and that Rev, Gregory Me- Donald should still assert that it was only a matter of ‘‘pure opinion.’

The strife in the Church in the Catholic Province of Quebec, is likewise admi:ted, but explai:e! as being only politic-l. What then are we to think of Bishops, successors of the Apostles, conteuding with each other about politics. The lecturer, however, knows more about the nature of this strife | than he cares to tell.

Even the ‘‘error of Luther,” which the | Couneil of Trent condemned, is, after due

} }

| | | i

| i | | j } j

| explanations, admitted te be the very same |

| doctrine that St. Paul taught to the early Church of Rome viz ; justification by faith

I was, however, scarcely prepared for | the rev. gentleman’s great admission that jthe Couneil of Chalcedon, A. D. 451, by ‘its 28h canon put the Bishop of New tome (Constantinople) precisely on the cams equality with the Bishop «f Old | Rome. Nor dees it alter this fact for him | to urge whet I never denied, viz : that the Bishop of Rome's friends and supporters | ;oppored this act of the Council, and that} | the Bishop of Rome himself refused te | , accept 1t. | The ection of this General Council there- } ‘icre conclusively proves that when it gat | ithe Beshop of Rime was vot regaided as | i“U:iv ral Bishop” either by divine or / human eppointment, and this is the point 1} |wished to establish, Still further, the faction of this General Council also conelu- | } sively shows that never iv the past had the i Bishop of Rome ben regarded as “Uni-! versal Bisho;.”’

| Bot lam told that Phocas could not have

| as ‘Peter had been constituted” Universa! the prerogatives of supremacy.” He was, the first Pope of Rome. Very well, but fer | Now we bave in the New | Tes'vment, and especially in,the Apostolic epistles. various churches and in the Acts of the Aposiles, a history of the Apestlic Church, which, both the Rev. Gregory M:Donald and myself accept as infallible. Bot in the wholo range of this infallible history of the Apostolic Charch~where the Church at Rome is so fully referred to, | there is not the least bint that ever Peter was Bishop of Rome—or that he ever visited Rome, Such evidence Las to be seught for

in the idle legends of the middle ages— CW tw

evidence which those who have not the ‘pet theory’ of papal supremacy to uphold, can estimate at its true value.

Rev. Gregory McDonald may claim for his church—and she may cla'm for herself— apy matk she choo-es; but standing forth as she does to-day, laden with dogmas un. known to seripture and the Primitive Cacholic Church—she shows herself to be as destitute of ‘‘Apostolicity and Catholicity,” as the Rev. gentleman is forced to admit, she is of * Unity.’

2

March Sth, 1885.

Great Village. Mr. Wagstaff has alco ree ceived eu application fora line between St. Gecrge and Beaver Uarbor. It is probable

TeLeruonic,—Iit is proposed to erect a EB ‘a telephone line between Windsor aud Helifax ; ‘ 3 ) a meres, Seen and Advocate g B G sahiorese hid eae loonomy celta . (rey ers:ble seet) for sale Apply to ber # Bre : 7. an ‘feb 27 u - ——

that eu «Xchange will be started in Freceric- Look out for our ammaoth Circula i. [4

torn, where a list of thirty subscribers has slready been secured. ‘The St. John maneger is to copsnit with the merchants of Parrshore,

Reon my Point and Windsor. Ch

cCAMINER. MARCH 7,

LSGE5

ANTHR ACITy,

anv’ all other kinds of

Cee? COAL

AT— f | | BASING Ty | ' SA | Fr MeMILLAN’S DEPOr, . j Duncan’s ! March 7—8i wkly 4: Old Wharf,

Grand Military Concert

This Month we are Selling OUP’ /ERARY BRTERTAINMRRY Goods so Fine that we would ; like to Give One and All a Chance! peered

‘Zz Literary Entertainment wil] be g ; ’ + Lis jin the om

Market Hall, Ghailottatom,

CA TT; ! Sb A | Wedaesday Lvs. ihe 1

WHAT A CLEAN DOLLAR WILL, As unter of te bee secant an

| others in the city have kindly consented ¢, PURCHASE. HENRY BEER, Lt ol, terpanes only $1.10, worth $1.75: 2000 yds, Roller Towellings Orders from any part of Bess> Call and see the goods, even if you don’t want to bay.| gine i Kiars a - d - Dd KNA .

take part, a pleasant evening's enjoyment may

| be expected : Remember this Month Closes

‘ heirman of Conunittee, N. J, CAMPBELL, ¢ aptain, oe." at 5c, 6c, and 7e.; 1590 yds Tvble Linen, beginning at Le. Pri hing ni Bo bhi (li very cheap; 4000 yds. Cotton Flannels, 4c. to 6e. under prices ; hung UP DUO DIN lig a | Man ager Ch’town Drarch. Wi. bs. WEEKS &, CoO. | sash a eas a whic 4w

Ch’town, March 5, i885 |

Officers avd members of the militia forre GREAT SALE ! “se cretary of Committee. All Grass Cloths and Prints, Cretonnes, &c., at reduced prices ;

under the distinguished petronage of ‘His Honor the Licuterant Goverg and Mrs. Macdonald,

eee

ST ANNOUNCEMENT

O

' j HAVE purchased that very complete Bock and Job Printing and Pook Dinding

establishment. lately owned Ly

BCE MRE BROS,

44 Queen Strect, Charlottetown,

| | |

the Pxevinee for

are requested to attend in unifern, ‘}he programme will sppear in due time. | ‘tickets 95 ceuts; Reserved “ata, 35 cents, i r sale at the wily uruy s* Ores and | Hall dovr 2 As the proceeds of this Concert are for out | ben: fit of the Band of the S2nd Battalian te to be heped oul cit’ zens d wilitiames will kive * croy ded hose on the occ sion. ‘ Ry 2 fs C. ROBERTSON, «= a oi. Tt RI Cl’ town, Feb. 6th, 1885. KOPLE Looking for Bargains ought to go first to Weeks & a % ‘ ‘ . - Co.’s Cheap Store, where goods are sold all the year round | at ab ut the same rates as many shops call their “selling off” | prices. fecs So ' p.. . . . an< lave jut ithe burire:s mio f During March a number of excellent Bargains will be| working onier, un’er «Micnn sag offered to all cash customers alike :~ 7000 yds. Bed Tickings at cate building it hes «cupid for co mang ~ ® ° . . ef P rs. ) to Tets per yard under u ual prices; 200 white {ringed Coun- will receive prompt attention, about J000 yds, choice Cotton Shirtings from Te. per yard; black} he Foreman of the Mechaniesl Eppa and colored Cashmeres and other Dress Gods at a bargain, about | Mu!" With the old tins nps be a is rarda +. ies : : e ; - | seen ycars, secur cact re may be 5000 yards to go cheap, ask to see them: also, special lines in| of first-class we sik Ladies Corsets, at low prices. Now is the time to tay | Cottons, | pistes. ro ar kc ticks — as they are going up in pree. We have about 75,000 yards’ as the quality ot bleached and grey Cottons and Sheetings to offer at. the lowest prices ever seen. W. 4¢ Quecn Street, Ch/towa.

ing will be figured l¢

the work wil! jastify,

A. BRENNAN,

‘

—— sam j

;

I DIYS" SLAUGHTER | Sotioe to Contractor

_ " : if YENDER . bon i} qr-clhd ‘ ; “ re “ j buildirys t wt, des ph’s Convent, Chat h \ jdottetewn, will be reeesyid up to the 16th ; March. s a i Pi 1 ili ati “an be seen at the

ape and sp. i

office of Messrs. Stirling & Herris, Architedlt » | ou and stter Mondiy, the Snd day of Manel —— > . | <LING X iAKaIS A | MY STOCK OF , iteata 4 th't ve, Feb. 86 18 Band pat hee

ae _

Bnglish & Americau Hatg| waves, soso vn ae

WILL BE SOLD AT A

: | On’) yell col red Glove (lined) CASH DISCOUNT OF 20 P. €., | Prince Street Bovic's Napmey ee For the next 15 day wae hy pp ying at the Ape. ecarits tall

i juaichy | ‘Jey, to 0l cot and Mt tied witha rewarded by

i ve LAAMINER oltice —@

Now is the time te Bay when

you can save 20 p. c, on the dollar, | Ry : cd IDET, betVvechn Syaney ~ o8 Pt '

-On the efternern of F

wes Roa! bunch «f Keys,

s@° POSITIVELY ONLY 15 DAYs. <<!

. £. PROWSE, a

ee . I UR ANTED IMMEDIATELY Sign of the E29: PEAR. Fa Oucen Strees. | Vi Cook. Apply to Mrs. L. H. Davies

srecn cord lhe tiader wil b

March 2. 1885_wkly eae at re ‘ USi—Us Criebar treet, near the reer | 84 dence of F. L. fia-z rd, Exq, a Be fale gm |Robe, The fiuder w b aided by RE CLEARANCE SAL | ‘caving word at this ofli maid tf j : a W ANTED—By a yon y man, a situstiob in a store or office : isa good penmap onan o in ae has a good English education ; rc Lerenees | if required. Apply at this ollice. m4 4ipd

ae i Oe

A'T-— V ANTED—A servant Girl for enersl work iu a small family, Aj ply at whi

| oftice. mars 2

OX JAUNTING SLEIGH and ;hoet®

mper. ccna

\ ONEY WANTED — Provided interest

low-— good security. Apply at thie Mice | Good y ppt jiebi 7 if

ANTED,— Au expericoced Se

j Y \\ (i: bera! salary) at Dorsey Gof & & 7 ivitd

Ziving Full

QR. SSD

Paeriiculare.

Towa, Feb, 4; eod wkly 4