Excerpt from Financial Statement of the Hon. Peter Smith, Treasurer of the Province of Ontario: Delivered in the Legislative Assembly of Ontario on the 16th March, 1922, on Moving the House Into Committee of Supply Now, according to the previous method of dealing with Public Accounts we would have shown a surplus of Our method Of dealing with the Public Account' IS the only defensible method possible, and I am prepared on any platform to defend it. We have taken revenue to the amount Of from Lands and Forests and put it in under Capital Receipts (where it should be) because we have depleted our forests to that extent of value. In another year or two, when the Government have instituted the system Of reforestation which they are now perfecting, we will be able to Offset the depletion of our forests by this reforestation. It will take a number of years to accomplish, but the land is practically unfit for any other purpose and time is a second ary consideration.

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