April 6, 1925 (14th Parliament, 4th Session)

LIB

Donald Alexander Mackinnon

Liberal

Mr. MACKINNON:

That was not the
way the minister put it; he said that the debt would be reduced by $5,000,000. And that is right. If the hon. member will look into the accounts for the year 1921 he will see at the beginning that the entry is cash so much; and the same applies to the year 1924. In 1923, the accounts for which appeared last

The Budget-Mr. Mackmnon
year, there was an entry, " by cash " $45,000,000. Under this are the Imperial loans and loans to foreign countries, Roumania and Greece. All these are set forth in the table, not as a cash balance but merely by way of a statement of the situation; and a certificate of the auditor brought from the United States when the hon. .member for West York (Sir Henry Drayton) was Minister of Finance appears printed in the statement with these items included. The whole thing shows where the country stands; it is a statement of the capital debt in 1921 just as it is a statement of the balance of capital debt in 1925, and the situation could not be properly set forth unless this $4,000,000 were included as going to the reduction of the amount of the debt. Anyone who understands figures will appreciate that. As to the words " cash surplus ", I do not think the minister used that expression.

Topic:   EDITION
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