THE Grey River Argus. PUBLISHED DAILY. THURSDAY, MAY 10, 1872.

Grey River Argus, Volume XII, Issue 1185, 16 May 1872, Page 2

THE Grey River Argus. PUBLISHED DAILY. THURSDAY, MAY 10, 1872.

There is to gr^at reason to fear that on Parliament assembling the deficiency of the past year will not be found to have been met, and it is more than probable additional liabilities will have been incurred. To meet this and to maintain the credit of the Colony it will be unquestionably necessary to impose new burdens in some shape or way, and how that can be done becomes a serious matter for consideration. It is notorious that, thanks to native wars, profuse and unproductive expenditure in years gone by, New Zealand is, for its size, or rather in proportion to its population, one of the most heavily indebted countries in the world, and its people pay more taxes per head than any other colony or nation, viz., between £7 and £8 annually. The ingenuity of Custom House functionaries has been strained to the utmost in order to find articles from which revenue can be extracted. The gold fields have been mulcted in all ways ; by direct taxation in the shape of miners rights, by indirect levy in the form of sold duty, by Provincial exactions in fees of all kinds, survey, registration, &c, and it is quite certain that they cannot be squeezed any further, and lhat the Assembly must turn to other sources for any additional income that the necessities of the Colony require. Neither the trading population nor the miner can stand more, for just as it is the last straw breaks the camel's back, so any additional general imposts would have the effect of driving people out of the Colony. The additional stamp duties that were laid on during the last session of the Assembly have been confessedly a failure, for whilst irritating to a degree they have scarcely added a pound to general revenue. The higher rates have been evaded as far as possible, and the income consequently has not increased? on that of the previous year. It is clear, therefore, that nothing can be hoped for from this source ; not only that, bnt the best thing that could be done would be to repeal the obnoxious additions. It is rumored that an income tax will be proposed, and however objectionable in many respects it would be, it would probably be the fairest way of making up the deficit had all other means been exhausted. But this is not yet tbe case, and there remains still an untouched mino of fiscal wealth if the Government have only the courage to propose it. We refer to an export duty on wool. We can well fancy the consternation and indignation that such a proposition would create on being introduced amongst the patres conscript* oi either branch of the Legislature. There would be quickly protests against taxing produce, against checking population, and oceans of interested twaddle of all kinds, poured out on the devoted heads of those who brought such a proposal forward. At the same time not only must it come to that, but such a mode of raising revenue is quite as equitable and just as taxing the proceeds of a miner's labor. Indeed it is far more so, for reasons that we will endeavor to show. In the first place, at least nine-tenths of the land in the. hands of the squatters is merely leased by them from the Crown, at what is in fact a nominal rental, and the public estate therefore affords the means of raising the wool produce. The miner pays annually for the privilege of working on Crown lauds, and in an infinitely greater ratio than those who hold stations, but for the Bake of argument wu will presume that in this respect they are on level terms. The station-holder, after the first outlay, can take it easy, can dispense with personal labor, and whilst he is sleeping his staple is growing. Not so with the miner, who to earn an existence has to labor hard,' run constant risks of life and limb, and after all, in a majority of cases, obtains little remuneration for his pains. But the produce of public lands in wool goes away untaxed and untouched, whilst on the hardly-earned gold got by the miner ( a levy of half-a-ccown an ounce is made, ' thus bleeding him doubly for revenue purposes. A wool tax would be in every respect right if it is right to tax exports of any kind. Just at the present time, when this article has advanced so greatly in value, and the. squatters are realising some 25 per cent, on lost year's prices^

not only would justice be done by such a course, but those on whom it would fall are quite able to afford the amount. A very trifling impost; say' a halfpenny a pound would scarcely be felt by them, whilst a very large sum, amply sufficient to meet all colonial requirements or deficiencies, would be thereby obtained. A tax of the kind would also have the effect of making those persons . interested in station property here, but resident and spending its product in England, or ekewhere out of the Colony, pay for the governance of the place from which they derive their incomes. It would be to some degree an absentee assessment, and on no reasonable ground can be objected to. At the same time there cannot be a doubt that the squatting interest preponderates in the Assembly, arid an export duty of the kind would meet with the hottest opposition. On the other hand it must be borne in mind that revenue to meet expenditure must be raised froni somewhere, and however unwillingly the Legislature may touch such a tender spot, they will, under any circumstances, be ultimately compelled to rudely disturb the pastoral dream of immunity. It is extremely probable that any attempt in this direction will be frustrated at the outset, but it is the duty of representatives to urge the subject, and we have no doubt eventually they will be successful. Money must be got, there is nothing else left unburdened in New Zealand, and the squatter must now take his turn and look pleasant under a wool contribution for the general weal.