The Akaroa Mail. TUESDAY, APRIL 6.

Akaroa Mail and Banks Peninsula Advertiser, Volume 4, Issue 383, 6 April 1880, Page 2

The Akaroa Mail. TUESDAY, APRIL 6.

Thbkb can be no doubt that the question of taxation will be a leading topic of debate on the assembling of Parliament. The Colonial Treasurer, the boldness of whose proposals elicited the acclamation of his political partisans, is the central figure on which the eyes of the colony 'and its representatives are riveted. Major Atkinson's statement is already looked forward to with anxiety by the Ministry and their followers, and with no small interest by the general community. When he unburdens his mind, he will be able to tell us how far his expectations have been realised and to what extent his proposals have proved satisfactory. The least sanguine of his colleagues, his prospects were never very brilliant. But gloomy as were his predictions, we believe it will be found that they have been far too favorable. On all hands we are warned that the falling off in revenue is something startling, and that when the secrets of the Treasury are disclosed, a serious deficiency will be revealed. The country, enormously taxed as it is, must be prepared for still greater sacrifices. Further taxation is threatened, and if the Colonial Treasurer is allowed to have his way, the burden on property and commerce, already oppressive in the extreme, will be enormously increased.

The fact is becoming evident enough that the financial proposals of the Government have proved a miserable failure. When the figures arc forthcoming and the deficiency in realised revenue—the excess of expenditure or income—is announced, the firmest believer in the sagacity of the financial Major will be forced to admit that his scheme has completely broken down. It is true that a saving in the working expenses of certain departments has been effected, but the reduction has not been accomplished without a corresponding sacrifice of efficiency or public convenience. Probably the best practical results have been achieved in connection with the railways of the Colony, which have long been notoriously mismanaged. But apart from the slight departmental savings that have been made, the financial system of the Government has entirely failed to realise Ministerial anticipations There has been nothing but failure. If the consolidated revenue was the only sufferer, there might be but moderate cause for regret, but every industrial interest has been injured. Customs duties have been nearly doubled, and the cost of living correspondingly increased, and what has been the consequence.? Diminished consumption, dullness of trade, and general discontent and business depression. Has the revenue from highlytaxed commodities been profitable ? Quite the contrary. The spending ; power of the people has been decreased, and commercial stagnation has followed. If the financial Major is capable of perceiving his folly, he must by this time be well aware of the madness of endeavoring to bleed too freely the resources of the Colony. His policy has been suicidal alike to the Colonial revenue and to thn best interests of New Zealand.. Instead of stimulating enterprise, and assisting the taxpayer to meet the demands of the State, it has crushed and ruined enterprise, prostrated commerce, and sowed universal depression.

It will be alleged by partisans who csn only see perfection in the deeds of the

present Government, that causes over which the Colonial Treasurer has had no control are responsible for the present unsatisfactory condition of things. This excuse might have been urged several months ago when the Grey administration was ejected from office, and depression was general, not only, in New Zealand, but in Great Britain, and in fact all over the world. But since then trade in other parts has recovered its buoyancy, and a combination of fortuitous circumstances should have restored New Zealand to a condition of prosperity had the helm of Government been entrusted to wise and prudent hands. But the destinies of the Colony have been trifled with. Major Atkinson's policy has done an incalculable amount of mischief, and the sooner it is reversed the better for New Zealand. His system of taxation is opposed to every sound principle of political economy. It has given a death blow to every kind of en- ( terprise, and despite the floating of a new loan and the gathering of fin excellent harvest, such is the general feeling of distrust and insecurity that the labormarket is depressed and property of every description is either unsaleable or sadly diminished in value. This unsatisfactory condition of affairs is, we submit, mainly attributable to the initiation by the Ministry of a process of taxation which forbids the employment of capital in the development' of our natural resources. How to restore confidence in the stability of these resources is the great problem that the far-seeing statesman must resolve. The present Ministry have stifled enterprise, and reduced New Zealand commercially to a state of prostration unexampled in her history. To undo as speedily as possible, the mischief that has been done should be the aim of the legislature. We have our doubts, in these days of log-rolling and selfish narrow-minded legislation, whether an effort in this beneficial direction will be allowed to succeed. But unless the direction of affairs is entrusted to pilots more skilful than those who are now in office, the State ship will drift, and dangers and difficulties will increase. Of the evil effects of recent mal-administra-tion, there can bo no doubt. They are patent to everyone. The question remains, can matters be improved ? We hold that they can. With all her deep indebtness, the resources of New Zealand are so elastic, that repudiation could not be dreamed of. But before we can hope to permanently improve the Colonial revenue, we must take steps to restore the Colony to a condition of prosperity. This can best be done by the development of the latent resources lying at our feet. We have the machinery for the production of wealth—a vast field on which to employ it, —but we require skilful managers. The voice of the unemployed tells us that the machinery is rusting ; the experiences of of our tradesmen, merchants, and capitalists tell us that the Colony is going back instead of forward. We must look to future legislation for the remedy, but, in the meantime, we would fervently express the hope that, inasmuch as the people are held responsible for the sins of mis-government, every man who is eligible should see that his name is inserted on the electoral roll, so that when the impending crisis comes he will be able to assist in returning the right man to the right place. The question of prosperity or adversity in the immediate future, hangs' entirely on the kind of representatives which our. new and improved electoral system may bring to the front.