, < .-..- -»-.ss -zen.-_ 'raui-: wuz o ' t' `. ’ - H _ _ 'rua ci1Aiu.o1"r'i-:1‘owN- uuaxoian , S TEQ'-2 _,in 3, 3 l M i |-TM I§T|iE GIIARLUYIII ARDIM = 'Zin f M Notes By The Way __ ms L Seereinry lit .' Associate ldléere-hall | g , _ w.I»..¢.. ». au...- ii. r. vi-r--M--i. -1- I- I-Mt I-1- _Uano-Oel D. A. leellllon, D. S. 0. Qi ' ' -I. I. Barnett, I. J. L Welker. and D. K. Carrie. lornlng Dolly (founded \ll'|) UI. MM pn you (in advance) mal :dun nd lsullla DUN" E ee M ' per yeas (le advance) delivered. iai to canada had onine emu. I ' THURSDAY, BE PTEMBEII 20. 1935 ' ALMOST INCREDIBLE The wonderful Liberal Govern- Jnent, elected on a platform of ee- Ibnomy. signalize their first session T-and a special one at that-by tak- ing authority to borrow three mil- lion dollars on the security of the 'farms of this province. That is, the first act of the new Liberal Gov- ernment is to take authority to im- pose a mortgage of $200 on every _farm. It is almost incredible, but ‘there you are. If you vote for that sort of government that is the sort of government you will get. Similar- ly if the electors allow them-5211/98 to be hoodwinked by such like ec- onomic balderash at the instance of the Federal Liberal candidates they will be served at Ottawa in the same way. It was only in July that the Provincial election took place; the public have proverbially short memories, but not so short as to forget. in two months the platform and speeches on which the Liberal candidates wormed their way into place and power. What is the purpose of this bond borrowing over and above the iund- ing of an unspecified amount oi bank overdraft? According to Gov- ernment members it is to refund high interest bearing bonds, if nnd when legislation at Ottawa is passed enabling the Provinces to do so, and to provide payment for an unspec- ified amount of public works. Ac- cording to the Speech From the Throne, additional money is requir- cp "to povide for unusua.l expendi- turm being made in extensive rc- pairs to the Provincial Building, and to meet the constructionoost of a new ferry for Rocky Point service, and other large expenditures made on Public Works in the past sea- _mn_.. Authority for the borrowing of 0200.000 for this purpose was given at the'last session of the Legisla- tggje, and bond issues to this amount me already been made by the Lea §§§vei-nment. Why then put in the mmith of His Honour the Lieuten- Governor the mlsstatemént that legislative provision was ma/le iff funds for these exceptional ex- - penditures?" '. 1What was the purpose of the Lea q§vernment‘s bond issue of $200,000 I .few days ago, if not forthe pur- gfe specified at the last legislative Tllsion? This amounifof $200,000 is 'Eiaddltloh to the three million aol- lar borrowing for which authority has now been taken. No explana- tion was asked for or given Yester- day as to where it went or for what purpose it was applied. ”.‘.M,-_ Dennis, oldest legislative yfihber, and Mr, cox, oh.. or the ii-lost experienced business men lu the!-louse, both strongly opposed the Government's huge borrowlns bill, Their protests went unheeded-. In _a short space of a few hours, the bill along with three other impor-5 tant bills to which reference will later be made in these columns, was railroaded through the House, and now has the sanction of law. The lea Government. with the coveted authority in its pocket, can anal! ll-5 fingers at the electors and Premier Iles himself announced that there call be no External Audit! , If they barefacedly do thot YWO months after the provincial election what may we expect Liberals to 40 if returneri to 0l»t0WH7 SPEAKING OF EXPORTS "No mirstal/:ment is too Wild 101' the Liberal pros- io publish with regard to Cana.da's export trade- Here are the facts, as given auth- entically by the Dominion Buroll of Statistics: :_The drop in censors excort tgade between 1928 and 1930, while the Liberal policies were in effect. féourited to $468,785,880. The drop urthe united states export md' iB’the same period amounted to $125,175,000. The drop in thb GX- port trade of Gigli Britain amounted to £i05,iU,'i‘0i. _. 5| wr. Bennett did not coifie in- lo' power until the middle of 1930. and no change in Ca.nada'a fiscal pong, was made effective- until Novembeg, 1930. it does not make ga.-as fo ny that the policies K g Conservative Govemmwt * ,_ to do with the ae- ouiaag am of coauum qjperta, or world trade, while the Uharai policies were in dfect. main ,ms ma mo th. drop li -oaanyhb 0100174 IWUUW *° 000,711.0: between 1000 and 1934 the crop amountle to 0145501.828- 'rhai in. mucho W-WIN* 0' W mp mir mace under the uhm! mime ma mir mv-third “#4” ' 1‘hirir'\ii"ua»mom¢fr wwf of the ~wifdcn\ of IB. .IHOWI trade lwflcieat became' between ‘1930 and 1934 the drop of export trade from both Great Britain and the United States was much SNR!- er than in the 1928 to 1930 period. EDITORIAL NOTES Welcome to Premier Hepburn- may his shallowness never grow less! _ Mr. William Duff must now be sorry he spoke. Fishermen evident- ly do not bite so readily as some fish. The Hon. Cyrus MacMillan, Ph.D. has returned to Montreal without uttering a word on behalf of the Liberal party. The record was made yesterday when the Provincial Legislature met with none so mean as to sit in opposition. Messrs McLure and Myers dis- cuss national problems in a. rational, statesman-like way, and their aud- ience appreciate the compliment paid to their lhtelligthoe. Prohibition Commimion died without a. tremor yesterday-killed by its false friends, Government Control taking its place. sic gan- sit. The members of the Legislature looked very uncomfortable yester- day without an opposition to offset them. There was riot even ln sight w screen them 'rho iaazrlotu much maligned ocrkscrew. . The trouble with the Reconstruc- tion candidates is that they have leamed only the art of political denunciation, not the science cf econ- omio construction. Unfortunately the Liberal candidates are of the same type and category. Shades of Jolm H. Bell! Imagine his treasurer today taking author- ity to borrow $3,000,000-two million or so of which is to be for unfor- seeal expenditures. Reminiscent on a large scale of that $100,000 tele- phone order for road machinery. The great budget balancing gov- ernment were evidently so pleased with the success of their first raid on the treasury that they called in the photographer aNd had a group photograph of the members taken- no doubt a first charge on the three million loan they authorized. Premier Mussolini is gifted with as much "philosophic doubt" as Mr. Mackenzie King, and seems equally incapable of giving a direct answer. The near advent of econ- omic pressure may have the same dffect upon him as the strap on the refractory child. Mr. Dennis and Mr. Cox have constituted themselves the unoiil- cial opposition, needing no cork- screw protection. Both have been noted for a measure of independ- ence in the past, and now that they are alone in the field this may develop. But Premier Lea naturally does not like it. Premier Hepburn is a "first night `attraction," largely because of his "Smart aleckisms." People like that sort of thing as a. novelty, but it soon polls, as the Liberals have found in Ontario. A politician "with .hir tongue in his cheer," is mort obnoxious to every right-thinking elector- Just fancy, farmers and othérs! The Lea Government handed round members at the morning sesslc yesterday-$300 went bang st one fell swoop and without a scrap of legislative authority. Oh, yes. we are in for e regular orgy of expell- diture in the interests of our mon- opolistic legislators. Rev. Dr. Bonneli has no illusion about Russia and its C.c.I'. Com- munism or other "isms." That is the way "paved with good inten'-_ tions." "We must set before ul." he mid "the goal of economic ae- curityforallourpeople . . . by intelligent reform." That is the Conservative way, the Bennett way, the only me way. as - , ,A is-0; "I 3 5: ontreal, Plillidtl Bennett all a returned _ e fortunes for thu h ha ea is B "Xll¢ti|l\G‘|- 5° ,fllgllll a cheque for $10.00 to each of the 5 Flndlngofthsbodyoflolmlialil- ilton in a gravel pit near a smell towninliiinols seemstowrite “rink” to the story of the Dillinger gang; and if there ever was a story which ought to dispel the glamor which is supposed to invest the lives of outlaws, this surely is the one. It is 'hard to recall any outlaw gang which was as completely and ruth- lessly cnlshed as the Dillinger mob. Dillinger was shot down in an alley, Pierpont was electrocuted, Nelson and Makely and Van Meter and heaven knows who else were killed by officers . . . and now, at the end, we get this picture of Hamil- ton, dyirig from gunshot wounds as the gang fled frantically from the law, buried hastily in a gravel pit by the wayside as Nemesis closed in on the survivors. ‘It’s a dark pic- ture. Any impressionable youth who can study it and still feel that there is something gay and dashing about an outlaws life ought to have his head examined.-N.E.A. Service. Selected King's Scouts again this fall did the grand stand ushering at the Canadian National Exhibi- tion at Toronto. Since the first ex- periment some- years ago the C.N.E. management annually has asked for Scouts. beoause of their dependable courtesy and efficiency. What has been the result of all these improved means of communi- cations? One would have suppos- ed, and indeed it has time and again been predicted, that such intimate associations as have been brought into existence must ex- punge ignorance and old-time ali- tipathles. prc;ud’oes and nat.-Fds. and help towards the federation oi' nations in mutual understanding, mutual respect and to do much to- wards uniting the civilized world in the bonds of brotherhood and as- sist in crystallizing the aspirations of nations into one harmonious whole. As yet, however, it has not done so. We look upon il. W0l'1d lull of strugg’e and dissension, and ri- val 'claims bitterly emphasizsd, and still darkened by wars and rumors of wars. And it is evident. that though mechanical devices have effected a revolution of unparall- eled dimension as regaitis inter- national communications, in re- spect of their moral implications we have still very much to learn. -Montreal Gazette. It is a case, if proved, of deliber- ate aggression by one member of the League on another, not the one-sided rejection of an enforced treaty. If Italy, breaking the peace, should be held by the Lea- gue tc be the aggressor, and if the other great nations of the League should condone her action, then the conquest of Abyssinia could only mean the opening of an inden- nite era of licensed spoliation. What satisfaction for Japan, and for that matter for Germany, who are watching and waiting and would naturally think their consciences finally cleared! What temptation to them and to other countries, who may havevsimilar ambitions of their own! Arid, what a devastating and final end to the whole collec- tive system which, if it were ever to be invoked again, would nnd the conditions incomparably more un- .favourable than they are today!- London Times. Bad driving, carelessness, had manners and many other things contribute to the toll of traffic ac- cidents which causes so much cori- cern today. But the main contri- butor is still Speed-excessive Speed. Sixty miles an hour, racing speed a few years ago. is now a common-place. Mental and muscul- ar reactions have not speeded up correspondingly by any means.- Winnipeg Tribune. The probability has to be faced that, obsessed by a. desire for ter- ritorial expansion and led astray by that nationalist pride which is the bane of the post-war world, the Duce will ilout world opinion, defy the League, and set out on a war of conquest. In such ini event the responsibility of the Council will be a heavy one. To seek to re- strain a heavily-armed power which is bent on mischief and has stak- ed everything on succ/ess is a task involving serious risks. And yet the alternative is the abandonment of all the efforts of the past 17 years to substitute a world order based on law, for the selfish rival- ries which brought about the dis- aster of 1914.-Glasgow Herald. est, slncgre and a man of vision; King is an adrolt politician, always ready to get out of a tight comer." Premier Hepburn perhaps realises better than any other politician e advantages of advertising's art- ful aid. He is forever in the lime- light-the front page for prefer- ence. He is Mr. King’s ablest lieu- tenant, and is said to be slated as his successor. Whether one approv- es or not of his policy, his political pranks, and hLs vulgarisms, he is worth-while hearing and seeing- at least once. He is welcome here for his own sake and the party on whose behalf he comes. Surplus *of approximately 00,000, 000 of current revenue over current expenditures during August, es compared with a deficit of 05.000,. 000 in the ,preceding month. and with e surplus of nearly 010,000,000 last year, is shown in the August financial statement of the Domin- ion 0010111118110 tllilod thi; week, Durln the first nve months of the re as lusof 000.000cn 1 .sm at *KM- TIIE MAIN TREATMENT IN HEART CONDITIONS IS REASSUEANCE \ There was one lesson learned dur- ing the war that has been of help to patients, their families, and to all physicians. That lesson is that 'oe- cause a heart has a leaking valve. is perhaps a little rapid or even ir- regular, there is no reason why the individual should not go about his work or life in the usual way and live as long as those whose hearts show none of these symptoms. Men with hearts of these various types get along just as well as those whose hearts showed none of these ccndi. tions. Sir Maurice Cassidy, in the Brit- ish Medical Joumal, in speaking of those who worry about their heart sums up the treatment in the single; word “reassurance." Formerly is a patient had a mur- mur, a little irregularity or the heart was beating rapidly the phy- sician would mention the fact to him with the words, “don’t overdo yourself" or "you'l1 have to bc a lit- tle careful." Now the average individual does not worry much about his liver, kid- neys or stomach but one word about the heart and he becomes greatly alarmed. Dr. Cassidy says that there is no use telling the patient that the heart is a little flabby or that there is a slight murmur of no great im- portance, for to the average patient' anything amiss with the heart. brings to his mind the most serious possibilities. 1-le must tell the pat- ient that he has or he has not a serious heart condition. Ii’ it is not serious he should be told so in order that he can go about his work or play with a free mind. And even when there is actual heart disease but the patient is able to carry on with the ordinary rou- tine of his life without much breathlessness, if he sleeps well, and if there is _no evidence of heart fail- ure-swelling of the feet-he can be assured that his heart disease is not a serious malady and that he should live a goodly number of years with it. And even when the heart condi- tion ts serious, if the patient is will- ing to "live within the limits of his strength" he may live many years. The whole thought is to take away from the patient any worry or un- settlemerit of mind, so thi’-t 110 knows exactly where he stands/ _--lilhiv-@-' They told me, Heraclitus, they told me you were dead, '1'hey brought me bitter news to hear and bitter tears to shed. I wept as I remembered how often you and I Had tired the sun with talking and sent him down the sky. And now that thou arf, lying, my dear old Carian guest, A handful of grey ashes, long, long ago at rest, Still are thy pleasant voices, thy nightlngales. awake; , For Death, he taketh all away, but them he cannot take. -William Johnson-Cory. The way of the aggressor growl `harder. To Great Britain’s stiffen- ing attitude in favour of League of Nations curbs on Mussolini‘s Afri- can ambitlons can now be added Mr. Cordell Hu1l's re-emphasis of American interest in peace. There is, of course, nothing final about either Sir Samuel H.oare’s address to the League Assembly or the Am- erican Secretary of State’s new re- minder to Pact of Paris signatories of their obligations to preserve peace. But behind these pronounce- ments is an increasing weight of public opinion such as any ilouter of the ideal of collective security can ill afford to ignore.--Boston Chrlstian Science Monitor. Since the big F01 chips of the British Navy have begun to nose along the coasts and get within gunshot of some of Italy’s beautiful cities, there has been a noticeable slackening of enthusiasm for battle. It is dif1erenYwhen danger strikes closer home. War sounds glamor- ous when the other fellow is not doing any shooting. But once there is danger of him opening fire. all the glamcr vanishes with one boom-boom.-Windsor Star. British officials are wise to em- phasise the purely ‘precautionary natuic of movements of troops and ships. 'f‘lie'ie is nothing provocative in them. "Italy must be fully aware of what has been going on, and there has been no protest, no rep- resentations, and no official or un- official indication has been given the British government that italy regards the movements as unfriend- ly' ol' unjustified." Italian newe- papers, of course, say a great deal that the Italien government would like to say had dare not. The cruise of the Home fleet off Por- tugal will give them something more to talk about. Greet Britain, however, il not likely to neglect taking precaution. Anybody, of course, is et liberty to speculate as to what Britain is taking precaut- ionayagainliz not always are they Ill!-Nl what P00910 think.-B. AHOVIIII UALIDIKIA XP! ' in l my be new current fiscal year the government ghntz N gg” 10000;' 1-mtlq gf, °°'°°° vi ~'°~ c. "ai mme account. In aninri ii mr. , - Y »=- - »-»~-f mf- -»- la nlnonding period of lalt yssr EE _,,, 3 r li Philadelphia I 4 Charges Canada Reduces ‘Interest By Refunding (Phe Monetary Times) The fiscal year ended March 31, 1935, showed the first excess of ordinary revenue over ordinary ex- penditure since 1930. The surplus on ordinary account was $4,106,540 compared with a deficit in the pre- vious year of $72,580,545 and of $43,174,530 in the year ended March 31, 1933. Ordinary revenues showed a gain of more than $34,000,000 over the previous year. Customs revenue was over $10,000,000 higher, while substantial increases were shown in income tax and sales tax re- ceipts. Ordinary expenditures in- creased only $7,'l00,000 over the pre- vious year. While showing a balance on or- dinary account, total expenditurw (including c.N.R. deficit) exceeded total revenues by $116,132,819. This figure represents the amount the net debt of the Dominion increas- ed duling the year. As in prior years, heavy expenditures were nec- essary on special account. Over $60,000,000 was required for unem- ployment relief, including expendi- tures under the Public Works Con- struction' Act. In addition $48,400,- 000 was required for the deficit on the Canadian National Railways. In his Budget Speech delivered on March Q, 1935, the Minister of Finance fo cast a. surplus on or- dinary account of $21,500,000. Rev- enue returns in the present fiscal year are showling gains over the previous year. the increase up to ‘August 31 amounting to 310325000 During the fiscal year under re- view, extensive operations took place with respect to- the fimded debt of the Dominion. The 1934 re- funding loan issued in October, 1934, to the amount of $250,000,000. rerulted in an annual saving in in- terest charges of $4655.'1"l0. An is- Slle 01 £10.000.000. 3 1-4 per cent. registered stock was issued in Lon- don in May, 1934, for government and Canadian. National Railway refunding purposes. In September, 1934. I banking credit of $50,000.- 000 was arranged in New York at arabe of’ 2 pcr cent.: this credit was used to pay on' part of the $00,000,000, 4 per cent. notes due on October 1, 1934. and called for pay- ment on September 1, 1934. Refunding operations were also undertaken in respect to the fund- ed debt of the Canadian National Railways. In December, 1934, an issue of $20,500,000, 16-year 3 per cent. bonds was issued. This issue was used entirely for refunding matured obligations and resulted in an annual saving of approximately $190,000. ‘ ` Since the close of the fiscal year 1934-35 other loans have been sold at very favorable rates. In June of 1935 $20,000,000. 8-year 2 1-2 per cent. bonds`were sold at a cost of 2.57 per cent., .md $40000,000. 90-year 8 per cent. bonds were sold at a cost of 3.10 per cent. On Aus- ust 15, 1935, an issue of $76,000,000. 10-year 2 1-2 ptr cent. bonds was sold in New York at a cost to the government of 2.97 per cent. This issue was used t_o pay off at mat- urity the $50,000,000 banking credit mentioned above and $28.000,000. 4 1-2 per cent. bonds of the Can- adian National Railways called for _redemption on September 15, 1935. This latter operation resulted in an annual raving of about $390,- 000. In April of this year a Canadian National Railway loan to the amount of $48,400,000 was issued.‘ This loan was for the payment of $11,582,000, 4 1-2 per cent. bonds of the Canadian Northern Railway due on February 1. 1935. and for the redemption oi' $35,000,000, 4 1-2 per cent. bonds of the Canadian National Railways called for re- demption on June 1. 1935. This operation resulted in an annual saving in interest charges of about $524,000. Notice of the calling for redemp- tion on October 1, 1935, off $23,740,- 000 Grand 'Trunk Railway Com- pany 7 per cent. bonds due October 1, 1940, was made recently. To meet this payment the Dominion -bor- rowed $20,000,000 from Canadian and New York banks for live months at a rate of 3-4 of 1 per cent. If it is assumed that perman- ent financing can be done at ap- proximately 3 per cent.. this will re- suit in a further saving of about $950,000. Total savings will be. therefore, about $2,000,000. Since 1930 refunding operations have resulted in ,annual savings in interest charges of over $14,600,000 with respect t.o the direct funded debt of the Dominion, and of over $l,040000 with respect to the g'uara.nt.eed debt. ¢ In addition to the above men- tlcned operations in respect to the long term funded debt, there have been many short term imues of treasury bills by public tender. While the total of these issues is large, it does not represent much addition to the net debt 6! the Dominion. - “Back To “Dollar Wheat”