The Akaroa Mail. TUESDAY, AUGUST 13.

Akaroa Mail and Banks Peninsula Advertiser, Volume 3, Issue 216, 13 August 1878, Page 2

The Akaroa Mail. TUESDAY, AUGUST 13.

The Financial Statement of the Colonial Treasurer (the Hon. Mr Ballance) has attracted, as it deserves, a considerable amount of attention and comment. We think it well to devote a portion >of our space to its consideration, for there can be no doubt that these annual national balance-sheets possess, or onght to possess, an interer.t for every man, woman, and child in the community. And if tbis is generally the case, the present is an instance in which it is exceptionally so, inasmuch -as the present Statement not only reviews our financial position, but also proposes to make some important changes in our system of taxation.

It is gratifying to learn that the income for the past year has exceeded the estimate by no less a sum than £761,630. It is true that the greater part of this increase comes under the title of territorial revenue, or land sales, which receipts, we contend, should be looked upon as coming under the head of capital, rather than income, inasmuch as the land, once sold, is gone for ever. But, apart from this, the revenue from other sources has shown a very gratifying elasticity. And even the increase in land sales is a striking evidence of prosperity among the community, and augurs well for its continued prosperity, inasmuch as every acre of land brought under cultivation constitutes an addition to the wealth of the inhabitants of a country, and a proportionate increase to their tax paying capacity.

There was also a saving upon estimated expenditure, the actual outlay having fallen short of that estimated by £175,046. This is so far satisfactory, but it -would be interesting to know where the saving has come in. If any considerable economy has been exercised in administrative expenditure, it will be highly satisfactory. If, on the other hand, it merely means that certain necessary works authorized by the Assembly have been delayed, the saving is far from being matter for congratulation. But by far the most important part of the Statement is that which relates to changes in the much talked-of " incidence of taxation." The first change which the Government intimate their intention of making has relation to the ad valor-em duties. With regard to these duties, the Treasurer says :— "It is a remarkable fact that the revenue derived from these duties has shown no increase, the returns of last year standing at the amount derived in the year when the change took place, allowing for the portion of the year during which the measurement system prevailed. I have had returns compiled to enable the Committee j|to see at a glance the nonprogressive character, notwithstanding the unprecedented prosperity of the Colony, of the revenue collected under the ad valorem system." At first sight the ad valorem duties would appear to be the fairest kind of import duties which could be levied. By their means, if fairly collected, each consumer would contribute in proportion to the value of what he caused to be imported. But when we find that in spite of marked increase in the amount collected under

fixed duties, the ad valorem duties remain stationary, or exhibit a retrogressive tendency, it shows that there is something unsatisfactory about this method of collection. Regarding the changes to be made, Mr Ballance says:— ■• The object we have in view is to change the ad valorem into specific duties; but we cannot, with the data and time at command, do more than make a beginning this year. It is not part of our proposals to increase the total revenue, but to make the specific duty yield as near as possible the amount derived under the ad valorem." We think this moderation commendable. All sudden and violent changes are to be deprecated. It is enough that the principle of the desired change is affirmed, and a beginning made.' The rest will no doubt follow in dae time. The last remark applies also to the more important changes in taxation which follow. Our present system of levying taxation almost entirely upon the necessaries of life has long ceased to be justified. The arguments used in favour of letting things remain in statu quo have been mere appeals ad misericordiam grounded on tbe difficulties inherent in producing, a system which shall be thoroughly equitable. But difficulty is no excuse for shirking a manifest duty, and we are glad to find that the Government do not intend to shirk responsibility on this pretext. That there are difficulties attendant on carrying out any general scheme of taxation so that it shall, as nearly as practicable, carry out the true theory of causing every one to contribute in proportion to his power of doing so, and to the benefit he receives, no one will deny. Here, however, a beginning has been made. Reductions have been made in the tea and sugar duties, amounting in the aggregate to £96,500, while a land tax, estimated to produce £100,000, is to be imposed. A small tax on the profits of Joint Stock Companies Is also proposed. This a contemporary rightly calls "the thin cud of the wedge "in respect of an income tax. The broad principle enunciated in these changes is that property as such is to contribute something towards the revenue, it having hitherto escaped scot free. Time and space will not permit us to go into details as to the objections which have been urged against these particular proposals—against the broad principle we have heard no objections— but we should advise holders of property to accept the proposals loyally. If they succeed in defeating them now, their victory can only be temporary, and by evoking discussion they may arouse a spirit which may be far more dangerous to their interests, in which case their " last state " may well be " worse than the first."

Pursuant to advertisement, a committee meeting of gentlemen interested in getting up a complimentary dinner to the members of the Lakes Trust was held at Bruce's Hotel, on Saturday morning. The meeting was well attended. His Worship the Mayor occupied the chair, and commenced the proceedings by reading the advertisement convening the meeting. The secretary, Mr J. F. Roberts, read the minutes of the last meeting. Mr Roberts reported having written to the gentlemen named at last meeting, and stated that he had received assurances of support (verbal and otherwise) from ail that he had been able to receive communications from. He expected answers from some by that night's mail. After some discussion as to the price which should be fixed for tho tickets, it was resolved on the motion of Mr Wiggins, seconded by Mr Meech— "That tenders be invited to provide a dinner to include ordinary wines, beer, and spirits, say sixty to be guaranteed." On the motion of Mr A. C. Knight, it was resolved that the tenders be advertised for in the Akaroa Mail and Lyttelton Times. It was agreed that tenders should be received up to 11 a.m. on Saturday next> and after a vote of thanks to the chair,' the meeting adjourned to that time at the same place. The entertainment at Barry's Bay on Friday evening last, in aid of Mr Walter Prime, who, it will be remembered, was so dangerously ill a short time ago,- was, as we anticipated, a thorough success. •The room was so crowded that standing sp-ice was hardly available, while many paid their entrance fee who could not obtain a seat. An ample and excellent programme had been prepared, which, with the assistance of some gentlemen from Akaroa, was carried out ia a most, pleasing manner. It is inadvisable on these occasions to venture on criticism, but when a new talent comes before us for the first time, it is, perhar*s, not invidious to notice it. We allude violin playing of Mr Wood, who may certainly be hailed as a great acquisition to our local musical talent. We understand that some £25 to £2G was the pecuniary result of the entertainment, a sum which, taking into consideration the size of tho room, shows that there were many charitably inclined who were not present in person. In conclusion, while congi-titiilating the district on the . readiness that is always evinced by the community to help any one that is in trouble, we must say a word of praise to those gentlemen who took part in tho dramatic performance, the acting of Messrs Clogstoun, Smith, and H. Dicken being particularly noticeable. Mr C. W. Bridge will hold an important auction sale on Thursday next, at Wagstaff's Hotel. All the furniture and effects of that well appointed hostelry are to be submitted to the hammer. Full particulars j appear in our advertising columns. '

A correspondent sends us the following. He says it is a " widdle," one of those things "no fellah can make out." Can any of our readers falsify the supposition by solving it ?—'• She was fair and beautiful; beloved her fondly and clung to her; she hated and despised him, but, woman like, she sought him ; eventually he died cracked. Who and what was he ? " A special meeting- of the Lakes Ellesmere and Forsyth Reclamation and Akaroa Railway Trust was held at Wascoe's Hotel on the 10th inst. Present—Messrs E. C. Latter (Chairman), Callaghan, Joblin, Gebbie, Marshall, Dalglish, and ParkinsonThe Chairman explained that he had convened the meeting to consider the Bill at present before the House. A letter was read from Mr Montgomery with reference to the Bill which was -enclosed. Also a telegram from the same, the substance of which has been already published in this journal. The following payments were passed : —Boating expenses, £1 10s ,* Engineer's account, £2 2s Bd. On the motion of the Rev. A. P. O'Callaghan, seconded by Mr 'Parkinson it was decided to telegraph to Mr Montgomery thanking him for his exertions with regard to carrying out the wishes of the Trust. The various clauses of the Bill were read, but little

discussion ensuing on any save clause 7, which gives power to the Trust to dispose of reclaimed land by public auction. This the Rev. A. P. O'Callaghan thought was giving too much power to the Trust. The rest of the proceedings were purely conversational, it being left to the Chairman to call a meeting as soon as he considered it necessary. The meeting then teraiinated. Some surprise was created in Lyttelton on Saturday last by the retiu*n to Port of the ship Duke of Argyle, which sailed thence on July 30, bound for England. It appears from the captain's statement that the ship was found to be too " tender." Shortly after sailing, she encountered some heavy weather, at the first approach of which it had been found necessary to send down the topgallant and royal masts. Even after this had been done, she did not seem to be safe, and tbe captain, yielding to the united entreaties of passengers, officers, and crew, determined to put back. The cargo will now be re-stowed. A return match at football between Akaroa and French Farm was played on the ground, Jollie street, Akaroa, on Saturday last. Mr F. F. Barker acted as captain for the Akaroa team, while Mr T. S. Baker marshalled the French Farm players. Play commenced about 3 p.m. We are unable to furnish the particulars of the game, but both sides seemed thoroughly in earnest, and some very severe tussles took place, resulting in several instances in contusions of a somewhat serious nature. Akaroa scored two goals, both kicked by W. Hughes, and three touch-downs. Among those who covered themselves with glory in the fray we may mention tbe Messrs Knight, Messrs H. and T. S. Baker from the other side, and Messrs W. Hughes, Lelievre, Hewitt, and Newman of Akaroa. A remarkable specimen of the mussel has been brought to our office, which was picked up about Children's Bay. This gigantic crustacean measures thirteen inches " from the tip of the nose to the tip of the tail," as the showman would say, and nearly six inches across. Though commonly called a mussel, we believe the crustacean in question belongs to another order. It is very rarely found alive on these coasts, though not uncommon in the Mediterranean.