The Globe. FRIDAY, AUGUST 31, 1877.

Globe, Volume VIII, Issue 993, 31 August 1877, Page 2

The Globe. FRIDAY, AUGUST 31, 1877.

In yesterday’s issue we published the text of tlie resolution carried in the Legislative Assembly of Victoria in favour of a land tax. It may he interesting briefly to enumerate some of the reasons adduced by Mr Berry in favour of this measui’e. He began by pointing out that large tracts of land in that colony are held by a few individuals who exclude settlement, by which the revenue in the shape of Customs duties suffers. Mr Berry said his Government proposed to levy the tax on what he called the natural value of the land, which is to be taken at from £1 to £4 per acre. All estates of the capital value of £2500 and under are to be exempted from the operation of the tax. Every landholder, however, is to have the benefit of the exception; for it is proposed not simply to exclude estates of less value than £2500 from the operation of the tax, but in the case of large estates to let £2500 worth of the land go untaxed. Practically Mr Berry explained that when the lands are classified the tax will be found to amount to 3d an acre upon the lowest class ; 6d an acre on the second; 9d an acre on the third; and Is an acre on the highest. The best lands—those which will stand highest in the classification —are rated, Mr Berry believed, by the local bodies upon a valuation of as much as 10s per acre per annum. The Gfovernmeilt proposals would therefore, in the case of the highest valued land, amount to a tax of 10 per cent on the annual value. This the Treasurer did not think would be unfair to the owners of large estates. He hoped, however, it would render it profitable to sub-divide these properties into small ones. This, he contended, was a legitimate result to aim at, were no injustice done. The proposal of the Government,bethought, was moderate after the expression of opinion which had been given by the country in favour of a tax almost penal in its nature, and which would have almost compelled the sub-division of estates. His aim was to bring about that result without doing an injustice to the owners of large estates, but the object of the Government was certainly in the direction of placing the soil of the country in the hands of the largest number of persons possible. The import duty on live stock is aimed at the stockowners of New South Wales, in consequence of the conduct with regard to the quarantine regulations; and it is also held that the squatters of Riverine and elsewhere who seek the Victorian market, should he compelled to contribute something to the revenue for the convenience and protection which they enjoy. The large sum estimated to be derived from this source shows the extent to which the Victorian markets are availed of by these graziers.

Whatever opinion we may entertain regarding the fiscal policy of Victoria, there is no denying the fact that our neighbours neglect no opportunity of bringing before the world the resources of that colony. A sum of £IO,OOO has been placed on the estimates towards the representation of Victoria at the Paris exhibition. There is also an item of £7OOO put down for an international exhibition. In making his financial statement Mr. Berry explained that if this sum were agreed to, a much larger amount would be asked for next year. It is proposed that Victoria should make application to the Home Government to be the next country where an international exhibition should bo held ; so that following the Paris exhibition of 1878, an exhibition should be held in Melbourne in October 1879. £7OOO was asked for during the current year, with a view of having a much larger amount placed on the estimates for next year. The intention is to erect, near Melbourne, a suitable building for the purpose. The cost of the exhibition to the Government is estimated at from £BO,OOO to £IOO,OOO, but the Treasurer was of opinion that, if it were carried out, it would do more to establish the position of Victoria, and make it known in the old world, than any other course they could take.