VICTORIA.

Evening Star, Issue 4060, 1 March 1876, Page 2

VICTORIA.

(From the Daily Times' Tdegrams), Melbourne, February 23. Since] the passing of the iron-hand resolution the debates in the Assembly have bten copducted in a more seemly and decorous manner.' The proposal for an income tax has been debated as becoming a deliberate AsS’mbly, and the Government nave permitted full latitude of di .cushion. The tax is one which is gene'aly unpopular, and, although the minimum is fixed at incomes of LSOO a year, the lower classes' have a strong objection to it. It is thought -to : be uncalled for in a young country, and various very pertinent obj ctionshave been raised to its introduction; and one, at least, is very feasible : that it will have the effect of driving oadital out of the country, and in luce peopleto invest elsewhere. The amount proposed to bo raised is so small that it will b i unwise to brine; such elaborate machinery to work as will be kef quired in its collection. The election for Collingwood has resulted the return of Mr Mirams,an out and-out stonewaller, who defeated Mr Waiter by upwards of 1.000 votes, while Mr William Gaunsbn lost fa&s' deposit money, having failed to poll one-fifth the number of the successful candidate. Altogether, 4,127 votes were recorded, out of over. 8.000 on the rolls. The result was not unex* pected, but the majority was somewhat of a sur prise. Mr Mirams took his seat with undue haste a few hours fitter his election. .

The last of our exhibits for Philadelphia will leave to-morrow in the mail steamer They consist of grain and wool of this season’s growih, and the samples of each are pronounced to be remarkably good. The demonstration to the Rev. Dr. Cairns, on the occasion of his departure for Scotland to repi’esent the Presbyterian Church Oounc I at Edinburgh, was a genuine ovation. An address, signed by ministers of all denominations, was presented to the doctor, who was heartily cheered. The andsence , numbered 3,000 persona. * -Signor Dondi has gone out of Ms mind, and at latest was unoer restraint at Bologna, in It dy. Domestic anangt-meats and complications are sadd to be the cause.' . |V De Murska has stlengtji'sppeared in opera. She plavs this week and into r ext, so that ,ft is impossible to say when she will proce d to New Zealand.

The bankers at their interview with the Treasurer handed in a wiittea statement, se ting forth the effects of the income tix. They, pointed out that the_ ißank deposits amounted to L9,00J,000, of which the major portion was held by lame capitalists. The effect of the income tax of 2£ per cent on the interest deriv - able from the Bank oeposit* would be that, a large amount of capital would be driven out $ the Colony. By transferring their deposits to Sydney, for example, these capitalists would avoid payment of the tax. The Tieasurer remarked that the cost of trank er would amount to between i and £ per cent, on the principal; which would more than swallow up. the benefit to be gained. To this it was replied that thb Banks, under such circumstances, could arrange the transfer, without cha’ging exchange. The Bank managers estimated that at least one million of money would leave the Colony immediately the income tax was parsed. The Treasurer expressed his belief that tile Banks, sooner than lose the command Of this capital, would pay that tax themselves—the tax oidy amount in* fo LV2SO on mised to take the matter into amsideiation, fully realised the f .rce of the .objections raised, and asked if they had any obj ctions to offfi-i One gentleman suggested that the income tax should apply to a 1 tne incpioe? the Colony, whe-her drawn from inside or outside sources. This suggestion will not improbablv be adopted. The drought has broken up, and heavy rains have fallen all over the Colony,,