Export Duty on Gold.

Cromwell Argus, Volume V, Issue 237, 26 May 1874, Page 6

Export Duty on Gold.

(Mount Ida.OJironich.) i ~; ' ~. r \ It is a matter for some.satisfaction that the Provincial Council agreed to the formal recommendation-being passed—as to the advisability of the gold export duty being reduced—because, by our importunity, we may some day weary out the General Assembly to agree to the ultimate abolition of an indefensible exaction. At the same . time, ithe without a division, of such a motion does not mean much. We prefer rather to wait the practical resolution to be brought forward wh<m in Committee of Supply. Cold duty is, under, the Gold Duties Act, allocated to the Provinces conditionally upon each Province paying for the administration of its own Gold-fields. , The revenue is specially classed as land revenue, and consequently it is in the power of each Province to.do exactly what it likes with it. If the cost of the administration of the Gold-fields in O.tagq exceeded the revenue derived from gold duty, we could not-urgetlie abatement- of a single sixpence as a right, although it might even then lie shownto be politic. ■ A3 it is, -we find the Province reaping a handsome balance of something like -L.8000,-.which, was.-never intended by the Colonial legislature. , The motion we- refer to to test.this question asks the Council to agree to a reimbursement,, at.the j Customs,' to the exporters,.of sixpence.an ounce. This plan was first mooted in the Memur'j, and in its crude shape we hardly saw how it could be worked out; but we are free to; admit that, having studied, the matter more closely, there can be no, doubt there is no practical difficulty in the.way, (except, the will of a majority of the Douse.. That we cannot count upon, but ma} - fairly hope for. .'The effect of a motion so, carried would be to make the -banks offer, owing to the competition that has happily started among them, an additional sixpence to each seller of gold, and in that way the producers would reap the benefit. Probably before we go to press, the uip- | tion may have been dealt with. Whether lost I or won, this seems the direction practical,aii tack should take towards the reduction 01 the duty, and we arc fairly indebted to the poUi ductor of the Mercury for first publicly point-. I ing it out.