Budget speech delivered by Hon. Sir Charles Tupper, in the House of commons Thursday, 12th May, 1887.

hon. gentleman who, with such distioguishoi ability, loads Her Majesty's loyal Oppostion in this Hoaso, ha^i, in tho presonce of tho groat electorate of Canada, announced his ontiro conversion to the principle that wo have so long maintained from this side of the House.The re-election of that hon.gentleman to the position of leader of that great party in this House and in this country, is viewed with uni- form satisfaction on this side of the House for two reasons : first, because of the hon.gentleman's evident qualifications for that distinguished post; secondly, because we regard his re-election to that high position as an affirmation by hon.gentlemen opposite that at last the time has come when this country may congrat- ulate itself upon tho fact that the great capitalists of Canada who are interested in developing the resources of the country can put their capital into these great Can- adian industries without any fear of disturbance arising from a change of Administration.Under these circumstances I feel it would be wasting tho time of the House, and perhaps more than wasting the time of tho House, for me to do more than express the gratification I feel that the time has come when we are all at one upon this great and important question, and when the only issue can be how best to carry out and how best to make the principle successful that has commended itself so eatirely to tho satisfaction of the great body of the people of this country.Now, Sir, I will pass at once to a brief notice of the financial position that Canada occupies at present.Financial Statemei^jt. ^With regard to the receipts and expenditure for the year ending 30th June, 1886, it will be found that the late Finance Minister, in his speech delivered in this House on tho 30th March, last year, estimated that the total receipts on ac- count of Consolidate!Fund would amount to $33,550,000.The Public Accounts, which have been duly distributed to the hon.members of the House, show that the actual amount received was 833,177,040.39,showing that the late Finance Minister's estimates were almost literally verified.As a matter of fact, his calculation of the Customs yield was realised within S150,000, but the main difference arose from the receipts from Excise, which did not come up to expectations.It must be roalsied, however, that all throagh that year Canada suffered particu- larly from other causes, in addition to the ordinary depression of trade felt all over the world.I may remark just here that although it was the bad fortune of hon.gentlemen opposite to be in power at a time when a very marked and serious depression in traio existed, not only in Canada, bat in all other countries, there has been, recently, an equal depression of trade in Great Britain, in the United States and in most other countries of tho world, Canada has suffered more or loss from that depression; but the fact that she has withstood that period of depression and emerged from it as she has done, is the best evidence of the wisdom of the policy that the Government had adopted and the people endorsed.Now, Sir, in the early part of the year the^effocts of the rebellion in the North-West wore se- verely felt, and an altogether unanticipated calamity took place that produced a ^ery sensible effect upon the trade and business of tho country,fand paralysed busi- uess in a very marked degree, as such an event undoubtedly would, shutting off, as it necessarily did, immigration and preventing capital from coming into the country and preventing people coming to settle here to a greater extent than would otherwise have been the case.In addition to that, Sir, we had the great commercial centre of this country, the city of Montreal, suffering under an unusual and unexpected calamity from the very extensive outbreak of small-pox, which placed that great commercial centre in comparative quarantine for many months, producing, of course, most disastrous effects on the trade of the Dominion.On the other hand, the late Finance Minister estimated the total expenditure at $38,126,-287.61.This was increased in the actual amount expended to 839,011,612.26.The difference may be said to be made up by the charges for suppression of the rebellion in the North-West, which were estimated at $2,300,000, whereas the actual expenditure on this head was $3,177,220.50, and in addition there was an increased charge on account of Mounted Police of $1,029,369.20, as against an esti- mate of $832,241.66.These expenditures were unavoidable and had to be met, and, unfortunately for the Dominion, the deficit of last year was the consequence.It may be argued that this expenditure in connection with the North-West rebellion, not being of an ordinary character, should be regarded as a capital expenditure, and it is proposed to adopt this course with sums paid in the current fiscal year to complete these services, and also with payments to be made to sufferers by the re- bellion.Coming now to the outcome for the current year it will be found that the late Finance Minister, in his statement made to Parliament at its last Session, esti- mated that the revenue from all sources would amount to $34,500,000.Probably in making this estimate he took into consideration the depression under which Canada was suffering in common with all parts ol the world, and made an estimate accordingly.However, fiooi the returns up to date, which have been laid before the House, it mil be seen that the amount expected was under-estimated ; that Canada has in fact emerged from her depression, and that, instead of a revenue of $34,500,000, it is believed that the year's income will in round numbers amount to $35,300,000, It may be interesting to state in connection with this point that the columns of the Statist of the 5th February last, in reviewing the financial and com- mercial history of England for 1886, contain the following : " There is some cause for eatisfaction at the general course of business throughout the year.People in business have shaken off their long languor and depression, have found at last that things have touched bottom, and have been more disposed to go ahead.There are many circumstances not altogether reassuring, and some trades, it would seem, have hardly participated in the general improvement ; but on the whole, merchants are more cheerful, and an impetus has been given to trada which cannot but last a good while, unless some untoward event should happen."Hon. gentlemen, I dare say, are aware that a very distinguished statistican,.Mr. Giffin, is responsible for that statement.To notice the details of the estimate made above, it is expected that Customs will yield $22,000,000; in Excise it was estimated that the yield would be $7,000,000, but whether much of this yield was anticipated in the previous year, or whether the habits of the people are becoming more and more temperate, it is not thought by the officers of the Inland Revenue Department that the income from this source will be more than $6,000,000.The miscellaneous items will be about as estimated, viz., St,300,000, making a total of $35,300,000.Sir EICH AED CART WEIGHT.You are now speaking of the present year ?Sir CHAELE3 TUPPEE.Yes.Turning to the expenditure side of the state- ment, we find that the whole sum expended to the 30th April last, as shown by the returns submitted to this House, has been $25,985,548.30,from which as has been mentioned before, it is proposed to deduct and charge to capital $210,085.52,miscellaneous charges in connection with the North-West rebellion.The further charges on the Consolidated Fund services will probably be : -To complete interest payments, $4,500,000; sinking funds, $600,030 ; and for miscellaneous services of all kinds and descriptions, $4,760,000.It is probable, therefore, that the expendi- ture may be about $35,600,000, leaving an apparent deficit at the end of the year of $300,000, and I have no doubt it will be found when the year has expired, if the revenue comes up to the expectations formed ,that this estimate will be about cor- rect.I think, in view of the position in which we unfortunately found ourselves a year ago, it will be a matter of sincere congratulation to this House, as I am sure it will be to the people of this country, to know that we will close this year under existing circumstances with a deficit of no more than $300,000-practically one account balancing the other, because that is so small an amount the slightest change will affect it one way or the other, I now come to the probable outcome for the year 1887-88, on which we must leave the ground upon which we have stood up to the present time of having tangible data as a basis and deal to a con- siderable extent with what we regard as probabilities.As to the probabilities for the year commencing 1st July next, which are purely a matter of estimate, the Government believe that if the present state of trade continues, and they see no reason from present appearances of any diminution, and taking into account the changes in the tariff, the revenue from Customs will amount in round numbers to $22,500,000.I am informed by the Commissioner of Inland Eevenue that after close calculation, the result next year from Excise will be a revenue of $6,400,000, of which, in round numbers, spirits will yield $3,500,000; tobacco, $1,600,000 ; cigars, $710,000; and malt and malt liquors, $400,000, the balance being made up of receipts from licenses and from miscella- neous sources.From miscellaneous revenues, including post office, railways, interest on investments and all other incomes, it is safe to assume that the amount realised will probably be $7,500,000, making in all an estimated revenue during^ 1887-88 of $36,400,000.Hon. members have before them the estimate of the expenditure likely to be made for the several services of the year 1887-88, and unless the hon. the Minister of Public Works should require further grants to com- plete services under his

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