8 



£400,000 to £r>00.000 sterlinjr. In Upper Canada the 

 umonnt of Government Debentures outstanding was 

 £1,232,880, iis. Id. sterling^. All the Banks issue notes 

 for Cu, and there is no Colonial metallic currency. 



In Canada, accounts are kept and sales and purchases 

 made in pounds, shiilinj^s, and pence, Halifax currency. 

 This currency is about 20 per cent inferior to the British, 

 though the denominations and proportions are the same. 

 The pound currency is four Spiuiish dollars, each dollar 

 being called 5s. But ttie avcriige value of the dollar in the 

 London market is only 4s. 2d , hence 4s. 2d. sterling is 

 equal to fis. currency ; or 1(h. 8d. sterling is equal t« £1 

 curr^^ncy ; or £100 sterling is equal to £120 currency. 



When exchange is really and wholly undi<^turbed, or in 

 other words at par (£100 sterling selling for £120 currency) 

 it is said to be at 8 per cent, per annum. The average 

 exchange on London in ISll, was 12^ to 13 per cent, in 

 1842 9* to 11 per cent. 



It was stated in Blackwood (1808). that the British 

 Government pidd directly more than £200,000 a year for 

 troops and public works, but there is reason to believe that 

 for the jast 8 or 1) years the annual expense of Canada 

 to this country fur military and other matters, has been 

 about £800,000 per annum. In 1831, the revenue and 

 expenditure of Canada is thus given in the Parliamentary 

 tables of revenue, population, &c. 



Revenue. Expenditure. 



Upper Canada, £102.289 £101.0:?5 



Lower Canada, 157,134 J7ii,778 



Total £259.443 £277,808 



Murray makes the Revenue and Expenditure in 1834, 

 to have been 



Revenue. Expenditure. 



Upper Canada, £108.841 £102,430 



Lower Cauada, 15G.589 108,188 



Total £2(55.430 £270.618 



Cattermole, writing in 1831, sayi "All the taxes or 

 assessments put together on a farm of 100 acres only 

 amounts to a few shillings." An emigrant at Guclph, 

 Upper Canada, about that time says •* Our taxation here 

 is moderate : a man with 100 acres does not pay a dollar a 

 year altogether." 



In August, 1844, the following particulars were given in 

 a Parliamentary return moved for by Mr. Leader. 



The gross total charge on account of Canada in respect 

 of the Armv, Navy, Ordnance, Commissariat, &c. was in 



