May 22, 1901

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The MINISTER OF RAILWAYS AND CANALS.

The contention is that the $150,000 was due and payable when the $250,000 was paid just as righteously as it was payable later on.

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LIB
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The MINISTER OF RAILWAYS AND CANALS.

Only $250,000 was paid, but there was still payable $150,000, which was placed to the credit of the province later on.

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L-C

Edward Hackett

Liberal-Conservative

Mr. HACKETT.

Do I understand the lion. Minister of Railways and Canals to say that we are now refunding to New Brunswick the expenditure for building railways before confederation ?

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The MINISTER OF RAILWAYS AND CANALS.

The interest upon it.

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L-C

Edward Hackett

Liberal-Conservative

Mr. HACKETT.

Well, I hope you will be as generous in dealing with Prince Edward Island. We built our own railways and paid for them before confederation, and we have only asked you to refund us the interest on the building of these railways charged up against the people of Prince Edward Island before confederation.

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LIB

Byron Moffatt Britton

Liberal

Mr. BRITTON.

I cannot help, saying in passing that I can hardly understand how the arbitrators could have allowed interest at 5 per cent to the province, when, during this time, interest lias been very much lower than that.

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The MINISTER OF RAILWAYS AND CANALS.

Because, the province would have drawn interest at the rate of 5 per cent under the terms of the confederation compact.

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CON

Robert Laird Borden (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. BORDEN (Halifax).

That would be so if it were carried to the credit of the province.

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The MINISTER OF FINANCE.

That

$150,000 was carried to the credit of the province.

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CON

Robert Laird Borden (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. BORDEN (Halifax).

But it was by agreement.

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The MINISTER OF FINANCE.

This matter arising at the time of confederation, it was proper that it should be placed at the credit of the province, and all these transactions at the time of the union were based on a rate of 5 per cent.

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LIB

Henry Robert Emmerson

Liberal

Mr. EMMERSON.

The province of New Brunswick would have drawn $3,750 each six months if this had been placed to its credit.

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The MINISTER OF FINANCE.

My hon. friend (Mr. Borden, Halifax), I understand, contends that it was placed there by agreement, and not by statute. All these matters at the time of confederation were on a 5 per cent basis.

Some resolutions reported.

On motion of the Prime Minister (Rt. Hon. Sir Wilfrid Laurier), House adjourned at 12.05 a.m.-Thursday.

Thursday, May 23, 1901.

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May 22, 1901