§ 24. Mr. LYONSasked the Secretary of State for Dominion Affairs whether 208 any new type currency has been issued by the present Provincial Government in Alberta; and to what extent it is in circulation?
§ The SECRETARY of STATE for DOMINION AFFAIRS (Mr. Malcolm MacDonald)My hon. and learned Friend is presumably referring to the Prosperity Certificates, which are documents promising to pay the bearer the face value of $1 on the expiration of two years from the date of issue if the correct number of stamps has been affixed to the back. According to Press reports, of some 250,000 certificates which were issued by the Provincial Government of Alberta last August, a large percentage is no longer in circulation, having been accepted in payment of taxes.
§ 25. Mr. LYONSasked the Secretary of State for Dominion Affairs whether he can make a statement on the present financial position of Alberta?
§ Mr. MacDONALDAs the answer contains a number of figures, I will, with my hon. and learned Friend's permission, circulate it in the OFFICIAL REPORT.
§ Following is the answer:
§ According to a recent statement by the Treasurer of Alberta, reported in the Canadian Press, the cash deficit on ordinary Government expenditure in the year ending March, 1936, amounts to $1,650,792, which, with extraordinary expenditure, has produced a debt increase of $7,472,301, the funded and unfunded debt at the end of the year being $158,081,350. As my hon. and learned Friend is no doubt aware, a 6 per cent. bond issue of $1,250,000 of the Province of Alberta, due for redemption on 1st November, has not been met; interest at the rate of 3 per cent. will, I gather, continue to be paid.