The Feilding Star. SATURDAY, MARCH 18, 1893. How Farmers are Taxed

Feilding Star, Volume XIV, Issue 115, 18 March 1893, Page 2

The Feilding Star. SATURDAY, MARCH 18, 1893. How Farmers are Taxed

It is very much the fashion just now, especially in this part of the colony, to praise the Government for what they have done in the way of reducing the taxation on farmers, and, no doubt, as far as the direct imposts are concerned in the Land and Income Tax there is some justice in this ; but there i.s another aspect of the question which is not looked at, as a contemporary observes : " The farmer has to purchase all protected articles at protection prices, but he has to sell his wheat, his frozen mutton, and his wool in competition with the producers from all parts of the world. Thus while his fellow-workers in the cities are mostly employed in protected industries, he has no such assistance from the State. And as if this were not enough, the farmer is now compelled to pay taxes on his earnings at a higher rate than any other class in the community. This is the kind of treatment which the present Government has meted out to the genuine settler as a reward for his enterprise and progressive spirit." And the excuse given by Ministerial papers for such treatment is, that capital invested in land " for speculative purposes " ought to be heavily taxed. What the small farmer appears to save directly he has to pay over and oyer again in indirect taxation through the Customs.

Tiik peculiar system of New Zealand taxation, which aims at the distruction and " general distribution " of all accumulated wealth, is very singularly illustrated in the telegram from London, dated hist Wednesday, which says: "The debenture-holders of the Wellington-Manawatu Railway Company complain of the non-exemption of their debentures from the operation of the new taxation in New Zealand, as a breach of agreement by the Government." As a natural consequence the company's debentures have fallen £l. As to the alleged breach of agreement, if such agreement exists, the company have their remedy. On the other hand it may be said that when the Government of the colony gave the Manawatu Railway Company the right to make this railway, valuable concessions in the shape of land were made at the same time, and, if the debentures of the company are taxed, they arc no worse oil' than other properties of " bloated capitalists ' who have interests in this colony. "Wo have always advocated the acquirement of this line of ruilwuv by the colony ; mid if the debentures of the company have fallen to the extent alleged, now is the time for their purchase. We obj»-ct on principle to more borrowing, but, in this case, if the colony took over the Manawatu Company's line, no more interest would be paid by the colony than there is now, because the interest on these debentures is paid, after all, by the colo'iists ; and it would make very little difference, but the difference would be in our favour, if the colony hud the control of the line.

In connection with the Longburn Freezing Company, we think it would be a »ootl idea for the shareholders resident in the various centres, to meet among themselves and arrange for a purely local canvass. If this were done we feel assured that, in less than a month, more than double the required amount of extra capital would be subscribed. The wisdom of such a rnur.se must be apparent to every one. .Should it be neglected, there i.s ewry probability that the factory will become tin! property of the great monopolists who have already absorbed the largest portion of the freezing works in the colony.

Tiik iiiciiiber*; of tin; Feilding Jl.-ilf-liolidfiy Association Made n lni.stuko in not arranging to key-p the but>inc^s

places open on Wednesday afternoon, ' and having yesterday as a whole holiday, the same as the banks. Owing to the Sandon races, the sports at Ashurst, and the fact that quite a large number of people went out of town to other places for a holiday, the town was almost deserted, and business was at a standstill.