_.._._. s..- »-»»-. s c‘. en yrs-t"

. i t t i ,

PAGE SIX >

PmitcETiiWKiiIi

~‘vv>vlw _

i” Today,

OfITAWA. Junc Zl~i—tOP\~ An-' nouncirtg an over-all $118,000,000 for the fiscal year end- ed March 31, 1940 Finance Minis- ter Ralston delivered his first Budget addrex today in the House of Commons and forecast a heavy increase iii the national in- come. “a very large proportion" of | which would be diverted to war purposes.

He estimated this increase in na- tional income at $700,000,000 for the current fiscal year at a nio- ment when "the enemy of inan- kind stands with naked sword at. the threshold of Britain." Col. Ral- ston called upon the Canadian peo- ple for “the maximum effort which is physically possible." I

The deficit amounted to exactly the some figure as the expendi- tures for war purposes during the last. fascal year. Total revenues were $562.000.000—an all-time re- cord-and total expenditures $681.-

These figures were contained in, the lengthy economic and financial review with which the Finance fMinlster opened his Budget ad- dress.

It was Col. Ralstoirs first Bud- get address and possibly his last. He goes at once to the xiefencc portfolio succeeding the late Hon. Norman Rogers. Col. Ralston was appointed Sept. '7, 1939 bu: was not elected to the House of Com- mons until some months later and the budget address at the emer- gency session in September was delivered by Revenue Minister Ils- ley.

M

Text of Statement

A partial text of Finance Min- ister Ralstmfs budget speech fol- ows:

Hun is hammering at

The Backed by almost incredible

gate.

ruthlessiness "We know now only too well

Briefs

. y News

long years of wishful thinking. There is no doubt that all of us in the Democratic countries, Gov- ernments and peoples alike, have been blinded to the stark potential- ities of force and evil.

"Fortunately, at last. I believe.

MANILA. J1me 26 -—-(CP) — A

. a Today & Wed. A 1111111 1°11 #7575171"

, ‘France their “eternal shame" at .the separate armistice France has our eyes are opened and we see ;1'°11<‘111<19<1 ‘V1111 13911115113’- clearly. And if we do. it is not l i—~ too late. For no one and no l CHUNGKING, June 2A —(Mon- ‘day; -(AP) —- Foreign minister “Hing Chung -Hui declared today ,that if Japan invaded French In- dn- China. China would be forced to take self defence measures of ‘PET own. He did not elaborate. 1 OTTAWA, June 2a - d?) ._ lPcsslblllty of a regional union in {the western hemisphere "which iiiav ltave a profound influence i the present conflict." was slotted 111 ll statement issued » ~ht the national executive committee of the League of Nations

MgilNltlS - ttlllisfllv : WHHAM in, 1

umph over falsehood, evil, justice over might.

must bring today cannot be

pleasant one. I come to you t-ol

I have referred. Nor can I be

We lwe from day

ROSCOWEMKARNS P051111 1 ma"

' . l ROBERT tmmm KEANE " » ~ c111» WADE BOTELER "

to change in the light of new cir- cumstances. “There will. I am sttre, be those

1 r l ported he is submitting a plan un- tum when may work _ “l: [one or two days a week to provide

De Ia break for the regular employees

in munitions and other industries

j . ' , _ ' Society in Canada thro h its who will think that I have DAILY u” 7'00 " 8'45 P‘ M‘ DAYLIGHT Prreglttltent. Senator Cairingg Wilson acne fag enpttshm d n at I “w _ wowi con n i ALSO : VARIETY — CARTOON lo a“ gotseetoo m. Still others will clif- MUSICAL- NOVELTY l L0yDON_ June 34 __ (cp) _ fer with me on tic-tails of specific lLaboi- Minister Ernest Bevin re- 111911511165-

merlts of various proposals. and to ions in the right. of the stu

measures andI penance, and is under b0. 1111011 601191115-1-‘11

' ' 113.11g baron me w“ M’ me risk W? wl ' l fate us ‘tony A‘ tli tuin f tl h o c ances for f\(‘1\'£\l‘.-'L'l1ll‘llI, ‘ OTTAWA, June 24 --(CP) —A - 911113139119? '11“ 1 ‘ 1 5 ‘1"'~ ' l , f P. 1 o. .10 ,-l'°a1'- 0W- he criticized the vaunted Maginot ,]l0ll"i1ll1(‘llL of Yves Larnontagge, °‘.°1',b1'5111°'15 ""1.“111-" 1“ 111° 111111‘ F h ‘Line, in which most of the French ‘senior trade commissioner in the. F11!‘ “'11P B1111!" c“ 5-111?~‘.,1'1‘°1‘11“<1 11'," §1111Fl>1y- T0 r6110 ‘war college put blind faith. {Trade and Commerce department, "In the ﬁrst w“ budwct or h“ lc3111,i11,111"abégieifpiicgtfﬁeasewin . ,_ .. , . . .. . . »y u,

Ho even went so far as to ap- lis a member of the wartime prices

————- ai- before the Chamber of DOD-solid trade board, w 1 Se tember. my colleague. thc Min- , _ wit somewhat, the cum- 13’! T1" 591111111111 7"") ﬁles to propose creation o.’ in ‘(might by Labor Mitlltliteituﬁgilrgﬁ istgr of National Rcveiiti», tlion. inttiie inc: ise in war orders and ‘heavily mechanzled army divisions. .\.f Lamn-titttuiic. a native of Mon- J- I» 115193". \\'110_tlt“.1vcic:l the inc ‘rccov _ iii Canadian exports uen Charles De Gaulle springs ‘The chamber said no, ~-r»,ti, was commercial gttaelyg in budget. speech. laid tiown t._c to ‘1)l'ltt.l, \\'1llt‘11 had been abnor- from obscurity to world no.ice iIli Tragic events have proved De thc Canadian legation in 311mm; broad principle of thc governments '.i_v low in October and Novem- less than a month in a career to lqauuei, prophecy, and m)“. he has v4.14; 1x611“; policy of war finance. '. larzclv offset the influence of

which the adjective “ineteorlc" bewme me champion o; a h...‘ ____. “We believe it is the part of ,tlic United States recession. Jvstlv 1113111194- 'France. TORONTO. June 24 —(CP) _ Wisdom." he said, _"t0 fcllow as far I aha-hers iactivity" in Canada mt- Or- Mar 26- Wlwn Gen Mr-Ximel ———-——————-—- ans. w. B. Hopking or Toronto, m- as may be practicable a ii-Iv-HS- ~*‘11@<1 out 111 Fc_brttari' and March Wenrand of France dismissed 15. natursttraa wows ltiniial 111115110110 of the Imperial you so P°11(‘.i‘-_" '1 t~'@11°1‘=11l.\' did not recedc. In generals as a resiht. of the Ger-l ______ O,.d(,,._ 1;m-_,q;,g,.rs of the Empirm "Events which have liaujictirtl t! vc the tempo of United man break -tht0l12h in the north. t The mam- friends of Mr. Chesfer nzip 'l¢d totiiglit to the wonmn 9f since. and l11ll'llf'lll{ll‘l_\' liicsc oi ties businrss has increased sharp- ‘ 1 the last fcw ivceks, have not de-ilv and there are aircatiy indica-

119 P111P1<°<1 D9 3111111“ 110111 111° 111111‘ [Edwards of Hampshire are sorry Canada to assist in raising $100,- . the wisdom oi that‘

tracted from

01' 111101111’ 51111111111 @1111 3911111111‘ Ito learn of his continued illness. 09o t huv a Bcl‘ br k bo be ed him .\'fa1or General. Before the I111‘ 199-111 13- Plqvlgll-Sedm t; 1101163’, but rather have l‘(‘ll_ll()l‘C<(1 war he advocated a 5110MB‘ mPf-‘l- l Mr. Ralph Tompson of Harfsvllle ‘donate to the government. Mrs. lthe tiecd for a vigorous efl 1t. to

P1111100 FY0090 101111‘ —111“ 1111111 "1 spent a pleasant "cekend visiting ns said that in addition to 11111111)’ 11 111 91/91)’ l1115el111° 1

German force that overwhelmed n-wnds 1n Ham m ,.m,,,.ih,nicns_ Canadian ~11)“; ggngynl pglify w; F1011?“ . ' —— ll cottltl donate any old gold 1>°1'F11¢-‘(1 111113191‘ 11-‘ 1'91“ '

On June 0. Premier Reynaud i Mn Judson C10.“ J5 n; 3mm“ V. ‘N. whim cmwd b5 501d ‘and ltwo parts; an initial period of $11052‘ D4‘ 51111119 =15 1115 11l'1i‘1T1-'11 115‘ ‘@1111’ has moved into his flew resi- nicitrrl down, the proceeds being us- 1111116111955 111111 1195111111011- 311d 11

l l ly. Savings

to day-indeed, from hour to hour 1111c _ L _ —and our plans must be subject .015 11111111010191)‘ upon delivery", gave a very lllll).".l'lillll. stimulus to busi- ness generally. Almost equally not .tlie phenomenal

s] owed do

‘IONS that country‘ are responding to a iittire active market.

expected.

Having! Certificate!

‘ I come to a. further major step in our borrowing operations, name- the inauguration oi’ our Certificates These certificates are is- sued in small denominations for ,the purpose of facilitating regular ,savlngs and contributions to Can- ada's war effort moderate and small means.

The stagnation in business which contemplated a: during the first few

ay 27.

But

conditions.

have spared no pains to asccrtziinllkiitial ivai" the relevant facts, to weigh therln coniribttl yiansion of the textile, boot

Oi‘ .

that,

National Income

1 On lite Jtslskxilt-tiiated bv the Royal (1111111111511011 i Provincial

Dll FIXXQPS.

enabled to deficit. of , Canadian deposits by approximate- lly $306,000,000. In the same per- lied, they increased their current loans by approximately $147,000.00, ;mainly to finance the large wheat crop, and added to their net hold- liiigs of securities by $158,000,000. By the middle of January it .became apparent that busines had lacquired sufficient momentum to tjustify going to the public lloan out of lfore offered our first war loan in ‘the form of 3 1-4 per cent 12-year bonds callable by lot during the llast. five years. Very carefully pre- paration had been made for the campaign and the success of the loan ivas even greater than we had Oi’ the total iimis of $375,000,000 we ‘ szcoeonceo land $50,000,000 to subscribers who ﬂit-sired to convert their holdings jOf one of our issues which was to mat-tire on March 1. Even this January borrowing was , to a, considerable extent expansion- ist in character in that it convert- 'ed into government expenditures a considerable amount of idle bank savings.

he (Mr. Ilsley) probable "I rise to my allotted task today 1110111115 0i’ war was not with a. sense of heavy respcnsiblity, realized. _ this budge; 15 bejng dqpvpyad at first few weeks financial and com- the most critical hour in histciigt. rsrltltztglltyoftriaglgtsawltgreblilisixset byﬂt-hﬁ e ' ness se 1was retarded by weight of’ mechanized power, he ltho disruption of c has operated with cold-bloodedled Chﬂfltilsllfigfa pouch a lined in the September budget and m» we PM <1 zis.ssrts.i1tz.satrssa . s r con- fidence to financial markets prevented the dumping of secur- ities and the export of capital which might otherwise have serious disorganization. The prompt

It is true that for the

and probably fflrst fotu months lfldlflll exports to the United States. Our neighbor to t-he ‘cured an intense

lbooin “All the; I can say is that Itihraugli gfelllly

and

_ >_ Wfifiiﬁg ohiKiiorrizrfawﬁ“ jWCUAIZHDIAN Ralston Forecasts

Heavy Increase In

National Revenue

Reports Tax Yields “Considerably In Excess " Of Septem ber Estimate, But Warns That ‘Maximum Effort

Will Be Necessary.

increase

savings.

to cash

by

_ board. also made its con- good over tribuiion to the restoration of con-- fidence and the rapid adjustment "Obviously, the message which I ‘Of 11311719 11115 11111115113‘ t0 the new 9, l wartime conditions. There were various economic fac- ccllect part of the price to which tors which also worked to improve The large wheat crop

dogmatic or definitive in the pro- [of last year, for which the initial price guaranteed by the Govern.

nt was realized by the produc-

in that

_ and iron and steel industries "inc ,p;trlictilzii'l,v.

Canadian

Relations our

Us int! the

1040-1941 will not than 34.500.000.000. We must. see which-to it. that by far the

(ill

income for the calendar year 1939 ,\vas in the vicinity of $3,800,000’. same method d mpiraiion we consider that our income for the fiscal vear

sistaiit to look after war ministry ldencs N! rm. the bonlber fumi second pgfiod 1n which rising busi-

affairs. ___._ _.____ ness activity and expanding in- 011 111110 l5- "11"! 114111511111 ‘"171 -‘ Mr. Cyrus MacKenzio of Glen migmzgrcrgiu, Jung 34 _.(gp) come had acquired momentum. |000.

F1111" -‘l1f'”‘1‘11“"1 11“1"'111111‘1- D1’ Valley “'05 a. recent visitor to - Decision to hasten preparations “In 1119 111111111 P9111111 °1 1111’ 117111”

Galilin was kept, on at the war ‘Hampshire. gr»; ]]l;1('1{'|'_' rr-mqpp children in in ivhlch business was expected to national

min‘ 1 ______ Notv’ Bi-imgvvjck 115mg; was made 0e hesitant, if not actually tleprcss- ' An: 1 at. the Freuclt K111i 111T The many frletids nf Mr. \Viison ~ d conference of pm- led, the appropriate financial policyl

("F1113 110111 “P10101111 111‘ ‘"111 1° Stewart of Hampshire are ulivl to his, Premliy J, 11 was declared to be one

1511710111 see him home again after his rr _ - ,-_ 511p returned from Qt- would facilitate the expansion of 0f that increase is use l-Ic broaden-st an attire-fl at 0M9 mm operation at the P. . 1. t, flint-clay, 5.1m the mum w” national income and the drawing’

into employment of our full man- DOWN’.

10 1111 F“"11('11"1“11 1° P01111111“ 1111‘ Hospital. fYl‘f\.‘.\'ll1L' rapidly in scope and the

1 need hardly say that our war effort ls not in any sense to be

uncertainty and ertain establish-

establishment of other controls through various war agencies, such as IpFlCGS and trade board, the event can shake my conviction that |S110Dly board and the agricultural in the long run truth must trl-hsutlvlfs

the

important rise during the of war of Can-

south experi- fortva rd-bttying

increased exports.

‘orders were important ing to the

likely be

their total

fora

We there-

subscrip- allotted subscribers,

War prcgmm on

persons of

in fact

out-

and

produced

wartime Will‘

WIS

we shared

early ex-

and

not be called for during the pre- 1 sent fiscal year.

which is of special deserves special mention here. is

Most of these increased have had to come from countriesl outside the British Empire.

to equ settle all _ us in gold or foreign exchange.

not supply us with goods to D111’ since, as I have just explained, the

ernment undertook to accept. and

aclian securities from Britain and 1i tints to provide her with Canadian dollars with whicf; to pay for pur- chases of Canadian goods.

adian securities held will, cf c0ur.te, stren then our fin- ancial position on in emational ac- count. problems face its.

market lflllﬁl. HD5011) 110W the second place, the fact. that the

surplus sterling arising from our trade with Britain cannot be con-

ocferiud by feverish lpeculaticn, waste and extravagance would de- velop; and a collapse of the in- flationary structure would be as inevitable as it was at the close of the last war.

The government's financial and economic p0l1¢l€l have been so designed u to try to safegu against that type of situation.

The have been evolved with the a to avoid unjustified price increases or speculative to keep our economy functioning as effectually as possible and

man power, equipment and mat- erials to war purposes in a way- v/iuch would be the least danger- ous to the economy and the most equitable as between different in- divlduals and groups.

Opportunity For All

opinion that the expenditure 3700000000, and more. for war pur- 1

which the United Kingdom is spending in this country will bring us before very long to the point when everyone able and willing to work and not needed for military service will find an opportunity for productive employment.

In the relief estimates which have been tabled there is provision for the rehabilitation of unemployed workers and the technical training of young men and women. Already we can see evidence that shortages have appeared in certain types of skilled labor. H To overcome this obstacle 1N

necessary entrance of youivr men into their trades. We must not allow bottlenecks to develop and retard our armament program in this supreme emergency.

To the extent that we can in- crease tlie national income, we can increase our war power without crippling sacrifice iu our standard of living. Some XKlIICLlOD in per- sonal consumption there must

necessarily be, and it can easily be S

standard of living. In the measures

the minimum To sum up:

a very large proportion of the in-

diverted to war purposes ent stimulus to bring the country as rapidly as possible to the maxi-

In this connection it will be seen that many of our will not require

meat and that much of the plaii- cl ned-for increase in revenue will

Increase In Import: f t e

One feature of our economic a

imports

In normal times we are able to

use any excess receipts from our lof the fiscal year there still trade with one country _

any deficits in our trade with an- other. when Britain lias such vital need of gold and United States dollars

to meet m

At this time, however, .111 in purchase planes and other war pment, we cannot. expect hervto her trade balance with

fo

Since the United Kingdom could

for a1 her purchases here, and

th use this sterling in buying Can-

ytw purchases of Can-

Wliilc such in London

<00 nevertheless two immediate In the first place. our domestic

scouri- t-ies to a corresponding amount. In

vetted into United States dollarsl

and must- be used tip by repaii'ia-- tlon of securities means that our increased help us, as they would in normal times, to pay for tiie heavy ports of which I have spoken from non-Empire countries.

sales to Britain do not

ct"

im-

The restilt is that we must find 100

exports to

Dominion- national

1985

greater part d for war

has developed. ers and private business one hand, and the Crovernment and t firms supplying government orders

on the other, an active mmpeti-l

which to purchase

from some other source the Unit-i

utmost care in selecting as far as

It is apparent that already there between consum-

pr‘ on the

pr

with The

exchange

foreign imports.

of wl

problem of policy thus posed is‘$4t),000_c0() a; compm-ed with 94.

secure the necessary dlversionn of ‘$191)’

,the screen's outstan ng portrayer of prlzieflghters, does the most dra- matic work of his career. the bizarre role of m engineer who is sulpec

n“, y, we,’ ukeuhood 1,, my take part in t a investigation while

poses plus the very large amounts |¢1W 11611911111995 “1311111116 511111" We‘ ‘ S011 umnist who has ambitions to come a

t C er and wants her to settle down to domesticity with him. Roscoe Karns becomes for the first time a. ‘newspaper photographer. Al usual. his characterization sirapliu action ‘and mirth.

here essays his first serious

prise’ ’0f the picture. Also seen to advantage in important supporting

l " WWW‘?

total revenues represents an in- crease of nearly the previous all-time record revenue 11°13 1161111’ ivhich was received during lflscal year 1937-38.

made by those of us who are above the luxury taxes were effective in ‘the past. fiscal year.

lections under which I shall propose we are en- lot the personal and corporation in- deavoring to ensure that at least come taxes would not be made un-

crease in national income shall be some is true of the excess profits while, tax. at the same time. leaving suffici- the fiscal year 1939-40 are estimat- ed to have been $408,000,000 as com- pared with $436,000,000 in the DN- mum use of its labor, plant and vious fiscal year. resources. total expenditures for tax proposals would, it was estimated, aggrwgatn immediate pay- approximately $651,000,000. not in-

ed defence expenditures and furth- er losses in the marketing of wheat. ~11"! 3960101113 5691011111’. Airs.

year are now estimated at $801,- 000,000. This includes all our de-

activlty since the out-break of war. ivheat marketing. Once the war had concern and ybegun, it. seemed that conservative 119mm accounting could no longer justify |-7- MacDonald: 2nd vice-presto? . the great increase in our imports. lthe capitalization of defence expen- MTB- John 111101111111’; 31d 1100-01?- lditures as provided for in hut year's 51119111. MN- 1-0111! Grintes. estimates and n11 such items have 001111112 Secretary. been charged to war expenditures.

ivheat of thc 1938 crop, it was clear 5 wheat mount to at least

was made to the board enabled the board to pay off guar- 106551111» anteed bank advances to that o- mount in respect of i938 wheat.

made in the accounts of the year

'already inclciated been included in he 1939-40 expenditures.

expenditure of $651,000,000 ‘Jzed defence expenditures and $27,-

lwill noite tgialt we ltitald Spliﬂtdllzhﬂt nveesmae .eoae 1 H“ would have been $705,331,110. “r1i;§’,‘.,';','c§‘§,§§f‘ Mrs’ A‘ K‘ 1MP" e‘ will be seen. therefore, that since our were only 5681.000001] lconsiderably better than was )pected last September.

have given as representing our ag-

ina_v be broken down by main cate-

1tvith s41.0oo.0oo during the preced- ing _vear. This includes a net ex-

terprises," the main item of expen- diture was the net income deficit

111F553; 33;.

111111111" C1111" lflio Central 6m,

Picture Has

this column r Suspense, Romance m, “m; ggvgvrzrrta-a... ——— I newly nature may he l "Dotizlo Alibi," a new murder n 6 cents '\ word llrictl n m, mystey film um geld w: the m, u. ndvlncm. 1 1” beaten ma. opened yecterdl! at the Cn/pitol Theatre. CONFIDERATIOM LIFE nus“ co-sltjnrgisng Waiynvfrllllltcrria Mar- ANCR. L-9789-l-21-3 E e garet my an 1 am 8131111. ——-—- exc S5 5' my, 1111111181181 Universald ‘offering wlﬁll-ﬁpegmggbw 516111101 may we sot l new tren or my- 0 gen to and action dramas-it's that 59""!- 11118111111111 weanmfﬁu "different. " 3°11» L-a4t-c-2s.

Morris. who rose stardom as nonanouﬁﬂ wed of much interest in Monctqn Do, chestter and other sections 5g m‘ couny was sol

Saturday wghenellltlgvlrfed (yo? H551:

He has ted o! murdering his u-

stnmeed wife. And who muque- "111 W11 W- Fraser Robb radesasar tarlothathocane-"Wnﬂ Jit-ndlidra. H“: Robb. or this city. and Mis; m,“ 0g he seeks tout the real killer. ﬁgélﬂgvgllkdililtégligtxeé of Mr. u, With is background of a blg- so!“ Mms’ formerlymoiogdoggyg

The bride and groom i moon in Prince mwr.a“i§11.§§“§1§ - ter which they will reside in Mm ton. Both Mr. and Mrs. Robb h: widely known in this city, m‘ Robb is an employm o; 13h 77111151511191» editorial staff and m‘ h: and his bride received i391. eucaonintheMonc -‘ —Moncton ‘transcript, m“ $11001’

NORTH WILTSIIIRE PLAY — In Wiltshire Sunday evening the Y.P.U. p“. grﬁtedchtbelr 4-act play-"Tho Li, “ell: - During the play v0,“ t rendered by Hilda Noye

ts Miss Lindsay as a health col-

"real r . William (Jargon is effective as hphard-boiled city editor who ant see Miss Lindsay as a. Pﬁhrt-

Jnmes Burke. veteran ccmedituli, ro e rid in many ways he is the “sur-

must have the co-operation of , and Canadian employers in providing roles are William Pawley. Frank Magi-fiat}, also selections by the neoessaq. nppmntkgehjp and Mitchell. Wade Boteler, Robert c t r1116} Icio r. Following 15 the other training, and of our labor Emmett Kf-‘ﬂne. Cliff Clark and EBIZCrOOnP Riggs-Man 0f the ‘ivtirld. organizations in facilitating the g ciherslz? ______:lcmrki Momﬁﬁonhiui-lgil-

51111911181‘. Peggy MacLean; , woman, Mrs. W. R. Clark; N, Ch h L Gctgfrey:

the 111C . rret Brown: s it. - Evil. Jean Easter, Helen }IX:?i'_l]11i-bi.f Muriel Toombs and Thelma " Lean. The offering for the ,6 ,_ ‘itlllge ixrcgaltevgititio $5M Th” W‘

$47,000,000 over

Taxation Revenue

Dealing particularly with revenue " "God Save m, from taxes, let mo nay that of the K111!- eptember 1939 tax increases. only owl“ MEE-TIYN——G—_ The m.

111ml meeting of the Fort Atlghs-ul sub-division of the Catholic 1 mens League was held nay 1.. After the recitation of the 1,9,.

Actual col- the increased rates

til the present fiscal year. The PWY". 1119 President, Mrs. it'll“. 1111111 51-18111». gave a splendid re.

Nevertheless, tax revenues for 11°11 of the year's work, referring fltthislv to the loss stistained bv

the absence of Rev. Father Ci-oken who has been transferred w $511,»; since the last annual meeting. hearty welcome was then extended to Rev. Father Callaghan, as He“. omry chaplain and who by Word and deed has helped 1h every way for the advancement oi’ the 1m. gue. Then followed the Nporls of , Leo Miss ltoiwrta the Social of the So- Ofl 0f officers place and resulted as President. Mrs. Joim lst vice-president, Mrs, _)_

In the September i039 budget, the year

uding the two items of capitaliz-

Dunn and Treasurer, Weatherbie, outlining and financial condition ciety. The elect! then took follows:

Our total expenditures for last

nce expenditures and in addition further $21,000,000, incurred in

Re- Mlss Leela Weatherbie. Treasurer, Mrs. Patrick D1111)’. Corresponding Secretary Mrs. Joseph Curley. 70th,; of thanks were then tendered to tho President, Mrs. William llughes, who has most capably filled her term oi’ office, also to the retir- 1118 officers. Mrs. Leo Dumi, Mi.“ Robert Wcatherbie and Mrs. Kath. lecn _MacKenzle who have helped to make the year's work so 5m- The counsellors w e ‘ named for the ensuing _v meeting closed with benediction bv Father Callahan. '

Furthermore, while at the close re- aincd unsold a small amount of

at the losses of the Canadian board in respect of the arketing of that crop would a- $52.000,000. There- re, an advance of this amount and this

As provision had already been

sterling with which she ivas able 1939-44) {m- semnq u a reserve

to pay for these purchases could 0f $25_()oo_()m in rpspeg; 0y pussibie Personal

not be converted into dollars 111 losses in tnarketing this wheat, thc M,“ Mm C b H N the normal way. other cittwﬂéllfifs difference between this sum andlreiurﬂed m hgpmhgrﬁe Rat" were nQCESSHTY- T119 (75118 11111 801" the atlvatice of 352000.000 made to lﬂndon an“. spending {he

e board. tiamely. $27,000.000, has eight months m Us A Mrs. W.‘ H. P. Irving has re

ed to her home in Capt Tia

afford the \\ililt‘t‘ r

When we add to our estimated these "o items o: s27 000.000 of capital-

°~°°° 111111“ 1"’ 11111111 1°-‘-‘1°§- Y°11 Pie. L. o. MacPhee, Alderslic‘. u

511611011118 a furlough with his ‘ft?-

acttial aggregate expenditures M15; Mqr1‘lcrite luufyqﬂ-I “'0 ha” 11°11“ Cliepstoiv, let; yesterday aft neon 9X‘ by the Hoclielaga on a visit to

friends in Antigonish. N. S.

lvfiss ltZtithStToombs fof the 131x- Der men a ation ie t. S Zutlt!‘ T119 111111“ 01 5118110011000 111111111 morning on a three weeks

.. h .i.t . ..- c" 1 c-gaic cxpcnditttres for the year 1N?;,.S3o:.g=e_\.\i:dPrcghigk y?“

Christniann, Detroit.

Expenditure Details

ié-‘Ories of eérywendiltgtetrgas follows

‘mﬁmg. r011" “um. T‘ 7 Mr. and Mrs. Percv Peardm of grclinary’ expenditures —$398,000.- ‘H3119 park MRS.“ 5pm; m, “my. - end in the cltv having come t‘ n

Capital expenditures —7.000000 lby car to visit. Mr. Pcairictils ivc r l

ed Statcs (lollars ll(‘(‘(1£‘(l to pay Lgsse; m, my n _ ﬂ- d' j _ . . . 1° e °°——°" - _ l m. es -. .., _ , M, . . u . . l . _ ss Al-a Cam bell. R..\. m Mote recently. mid despite the- War expetidittttes -$1l8.000,000. N“, Lnndm, nnpd M,“ H,,,.,.,

Other special expenditures includ- ‘Adam.’ Konsmgmn attend”,

possible Canadian sources of sup- in: tinem o" > .

ply, the government's war orders Iggy‘; relief and 11119111 Egelfﬂrtgiherhﬁyttrse 11071 11921;.

have contributed tllh" ly and ill-I Qghm- vim ‘m; _$25_m0_000_ l “s s 11 1 ~ 1 1111‘ 1°11 111

directly to this 11101111199 in iin-, In m; aim p Hem o; some, web 11 01°11“ 1151' 11°91‘-

119115 110111 1111111 11111113111‘! C0l111-1lal expenditures." the amount for, M, warrm-i walk". o! “M;

tiles. Iuncmploymerit relief, relief works,pe1;er_ Vermont’ accompmiivh b.- Ford Enhm a and wsetein drought area rellef|Mr_ and Mm James F. Rom, (.5

m g 11111111“ 3621100000 1" wmparwlPrincoport. Nova Scotla, motored.

to the city Saiurdriv evening and left on return to Princeport 3'05‘

nditure of $7,500,000 under the “may airie farm assistance act. ‘ 111111“ 11°1'°1‘1"11°"1- °W11¢<1 e"- Mr. .1. a. MilCMillnn. President of

the Chisholm Saw Mills. Limited of Edmonton. Alberta, arrived in the ‘city on Saturday night on a visit

the Canadian National Railway,

11°11 111111311711“ 1° 511511111’ 0"" to his mother, lvfrs. Donald .\l.tc-

gight‘ (111111 rally nrniziid ‘ -—*'"T llllllllllfri-¢‘1"ill(ll‘f‘!‘| to be settled I a .H u d l “m! d b l r i‘ l l “man S! Av d M vnuqfvq“ 1111f -'\\' 1‘ 0 - Ham “mire S.‘ on is il'OEl'4".~.~lllI m cxmhriq “'51:; much 1m e;- g. a “ n accoinance wi l ie ccar- i 1e y suci lntmca ca cu n- ‘ ' - " 1 . -. ar s. . r. r . 1.. timtai omit» .'.'l\'OEr'llJI1\' uiirirr fr, .-i<ili.'ti: mm- ,:he iotvo luentioned at m: rattle‘; e11 1101161“- tlw =<>\‘v1'11111<'11'~ 1111111" 1111115 v1" 11y Wlwi We can comfort- 233.22“ r314». ‘“%‘i§“‘{I$’3$i..“’$t (the "1011412-0112: itgseitlgrzcfctltilxt‘: 1H1 11'“ 1°""°'1~v Mmmg" ‘*1 11"‘ Wm .’tD-‘!llf‘lll o,’ Mr. .\l.i.r';' .\I.'it‘l"‘.\f1_\'f‘ll thrift-ream in Ottaiva early m1; its first financing in the form of ably accptuplish. We must make foreign exchange control board arelpr-ipfq and outgoings is 5631x115 1];- ‘Bank of Canada 1n 01111111011111011“ at Kiugtrn. mnmp, a short-term banking operation fiiie maximum effort of which this quite adequate to do that. mug; om- mt-enue; were '50 hand 1.“ Edmomm“ 111139115’ He “m ______ l which was definitely expansionist. country 1S capable. Financial Pro- The problem is to ensure that, in ‘54509000 greater 5nd our m? u 113mm“ °11 111° 15511111 1171' “b11111 a .\fr. Shwnlov Newman of New; wl-jﬁTotis (JKIHEDRAL in character. This was a loan of -vlsion can be made and will be handy“; me guppiy o; foreign ex- dit-ures‘aboutb24000000smallergen- fortnight’ --“t Water was a recent vi-strar‘ t“ It's 8200-0011-0011 1111111181111 ‘"111 11"‘ 111-1111‘. .101‘ lvh-"Pvﬂ it is physically change which may be, from iimeNK-re anticipated o," OWN,“ Q1111 '*"“"“ “ " tiiniiysliirr. - --- banks in November. 1039, on theipo tote for us to produce or to to time ata11ab1e_ “'31- mquirc- 1cm for the yearkvm be a-Jonng" 59011111185 W610 6601958911 115' $911.7’ » - - 1 'l‘Eic '1l'l“2il Rcman Catholic Cathe- security of two-year notes at a rate. ‘lll'l‘. iii the way of war oer- mum; 511811 take priority over oth- “mom; h... than “m, c; be; 999 111111118 i110 I'm!‘- There are al-‘O hlilsifi‘ (‘lf‘vt’1"tllrl §‘(‘\\'.ll'l pf m. Wcstmtnistet‘, London of '1 per cent. _ lvtcrs. stippllcs and materials. er fequlrpfnenfgl and ma; m some 'Ho,‘vﬂ,er ‘(he “ma, deficit WW5 - outstaiiditig certain other 60111111‘ llﬂllltillift‘ is _ it.“ m be out 021th hm ir< inPricr grad-Dally en- “It will be recalled tiiat of U115; If mi appropriate financial policy degree also the requirements of proqimnfe 5113090900 u c $11M“? 1111111111195 111N118 out 0f 811"‘ . l'l"t"f‘. t attick of l7liPlltrlin- .. ied v embellished, and chapel amount $92.000.000 ivas tised to re- ;ls_ not followed the ultimate result industries which m9 cxpoytlnq Wm‘, 351000000‘ i ‘ 1938 sump“ 8111688 liven 111K191‘ 101161’ 11°15 11nd tire in _ after ca. has received its trea-.p..triate Canadian securities hcldiwlll inevitably be that the govem- good; and mercy“; assisting 1,51 A ' l‘ f n '3" lvarious other statutes. ‘These 01° t\'f‘"tl<- 11v i ?——»—-— st " and been dedicated Butiin 1011/11. This gave the United 11110111 will be frustrated in its gt- to acquire forms-n “Chang? m." f slrareslbgootlthe °v°"1‘11 ‘1?11°11,fullv sct out. in the white PM)" tat is c.’ s‘ (‘RFIPI-l ll\.\‘|‘"\lI\‘ imrssirsi- of it s~t.ll remains for the xlhgcc... .1 Sllbslatilinl ‘simply critanrt to procure goods roi- W81‘ take priority over the requirements g,,,‘,,,,,~,°°°, . q 11"“ 11°11‘ "1 111° ‘which is being pihmt 0h Haiisnrd. 0t‘ ALL _ ‘t; 7n 1ir>t'r.t,v. A few years ;Ca.tiadian dollars “hit-h was llS(‘(1_i1111'i79-‘(‘§ by the competition of of domestic trade, ,.,-}O980og0 0;: °t"1;2r°.x:m“1°11'$3'il It will also be of interest to lion- » -- .1110 z. was decided to add a seﬂcs ‘to purchase Canadian food-tufts, ‘consumers who seek to spend their At the time of the September 6,-6.5 i; bun‘ a t hm“ 31' 194°" Orable member; to know that. n5 111 thc ll|‘\\' r1 nib-air‘ tlcsiittis m the ﬂips? be- iraw materials and vrar supplies, itwrcascd buy-int: power to satisfy 1m budget it was estimated that ,1’ 10d“ L‘ fly" 1 “1d“1°“°"'1Mnr¢ii 31 inst the average rate "1 _ r .s nl (l.1"l( hind the hrgh altar: these have ‘civiilian ivants. In that event, a150, me mm] fevenugy; for the {but pt?“gr “d: Ofsthdlflmlamo‘ o" 111° interest on the dominion (111001 rp. a __ azc .~:iia.~ new brflil sttbtnllted t; ‘he can-J“ Mfmolary “m, the familiar spiral of rising pﬂce3v “m. 193940 would be salamolom 8.0m“. thaw Hehniitancehsheet. off- funded deb; unchw...“ treasury rt‘ ant more frrmal in size. but drai autrcrrics. "This borrowing from the chai-t- lhen rising wages and costs. and including $2l000000 to be derived b 1 1111i!) i‘ ‘d ntilwcs m 11171111011111151440 p" “"1 “s mmpnrﬂl just as lllirl‘esiltigIfv' shaped 1H The Wcstministcr Cathedralﬂered banks was facilitated by ap-ithctt prices rising still further from new and’ increased taxes 10m 1-1] m h“ 1e $15915’ “mum 1111111 353 P01‘ 69111 011 M01911 31' any cf the iefilitr-r 1131's srme l\’1ll('1"l ivas built between 169: andfprcm-iaie monetary policy. Bc- ,\'\'0ll1fl begin to work. 39cm,“ buslnpss Qxpnndfd 515,15 “d °“,.°" "m1- “111111113 11111111- 1939. and 5.02 per cent on Mttff11 have bright. gold lramrs anti if.‘ . Wh- deupzncd by Bentley anditween August. and November, the| Prices ivould rise more rapidly rapldlwthan was anticipated the $310,122,110 tlnnn-ji-fu1d 1'1"°51m°1115' '31, 1030. Ina-p’, othrrs are trzniincd Wit-J is risttntnilslied by a camrpanlle 233 Bank of Canada‘; "SW5 incfffpkQd than “"3305 and _=R]ar]@_q_ “(L bi, vmd d; both m“, 01d and mwhxes‘ ' M I F 11 3 0 5934190- ._.._______ ""111"- 11"? 1111'11~ by approximately 3107000000 as altliis indirect. hidden and tnost in- has exceeded our expectations‘ '- H? Mo“ or m0 mo“! W" 915770111111 GOVT Fm‘ 1'76"”: One baa sliaPPd like a subhv -- --~-- result of the purchase of .'-‘K‘(‘ll[~l- equitable process. the civilian p00- is now evlmated that ‘when 111mm “as ‘mmmldl-ng unmamred ‘__"— 1v: fﬁj'l‘ll"flf\lfl hm: an airbrr 1'. f‘ ties and the increase in the value 1111111011 and particularly the wage our p50“ for '11,. w" [m- (ilngod 1hr?“ 1111mm d°b1:“"°11'd11'1511“‘1“‘| CAIRO, June 23 -fCP) ~—K"111 110111111‘ ""1"" “T11 1's 0' 111111" ' w of its gold and foreign exchange re- and salary earners and the receiv- our tom] revenue will ﬂlﬂlﬁlflll‘ i‘ m) bms)» nmommm! to ‘3‘695’6a5" 7111111111 0f EZVPl accented the res- ugh most cf t‘ hive‘ ANWPTON. N. 8.. June 2i —|serves. This provided cash to crs of fixed incomes, would be 5562073000 (This includes it. l: m°gtﬁﬂt,‘,‘g1',",',‘,,,ff1,;lzl’f,ﬂlfrvéfffhllgi"itrhauoh today of Premier! He ‘ ' ' ' " ‘" ‘ - ~- - » ' Pasha Maher and his cabinet. n 1

Th.

H" . r1177. e are also thin fia’. emekp s 1V!” that make tip fcr li1"il‘ al shape by a t-rim of tvckniz

‘CW fa n"! of rtmwavs at the local air- onr,‘ vas lacing completed, the daily < ’t"f‘\'i."l‘ n’ Trans-Canada Air lines 11110 P111119 <1)I‘l\\'t’€f‘l Moncton and Montreal, m an!‘ Oh lum-

Sitstirncied while hard sur-

creaae the cash reserves of the

chartered banks by $113,000,000.

With this increase in cash re- ﬂio dimmed

IOFVQ WM‘

-;

I

meet the enlarged public (lr-mantl forced in curt-all their constimniion

for notes ln circulation and to in. not onlv of luxuries but oi’ ‘com-

forts and necessaries as well. Eventually in such a pr0c955_ on;

entire ccmiomic life would be dis.

hectic period

true, a beekeeping item of $20,- 000,000 of credits to non-active ac-

chom-

(‘Ollfl l5 f0!‘

mditure side of the statement.) 11mm hioh

which ccutra items appear on

offsetting the

or PX- st W

Inmciventor

sues ‘(lehr-iittlre sfcygk; "111" 01 the dominion and

11¢ aggregated 81.084.479.000 at. In

first step to form a national im- ,lon government. The new gfY-‘Pfn’ ment will share a policy in \'I"1"' of tlzexll-itiliandag attacks 13.01311 Egyp. ta an gypt severed m» mnnmd lomotio aim m lath.

Dfkvabk‘ iii London. Bonds and |

bearing the guar- , out- atiding in the hands of the pub-

31- 1940.