CANADA’S BUDGET.
Improved Position Shown by Minister. “YEAR OP RECOVERY.” United Press Assn.—By Electric Telegraph—Copyright. (Received April 19, noon.) OTTAWA, April IS. A deficit of 135,200,000 dollars for the fiscal year ended March 31 last, an improvement of 22,500,000 dollars over the preceding year, was announced in the House of Commons to-day by the Minister of finance, Mr Rhodes. The deficit on the ordinary account was 24,100,000 dollars, an improvement of 19,100,000 dollars over the previous year, capital expenditures on unemployment relief and the Canadian National Deficit making up the remainder. The fiscal year just closed had been a year of recovery, said Mr Rhodes, recovery that was unmistakable and of greater magnitude than had been thought possible. Canada would not default on any of her obligations. Legislation to permit farmers to compromise with their creditors and to reduce their debt burdens was forecast, but stabilisation of the Canadian dollar in the international exchange must await the establishment of a stabilised ration between the United States dollar and the British £.
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Star (Christchurch), Volume LXVI, Issue 20284, 19 April 1934, Page 1
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170CANADA’S BUDGET. Star (Christchurch), Volume LXVI, Issue 20284, 19 April 1934, Page 1
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