FINANCIAL REFORM.

Hawke's Bay Weekly Times, Volume 1, Issue 41, 7 October 1867, Page 248

FINANCIAL REFORM.

Recently we had occasion to note the formation of a League in the Province of Nelson for the purpose oi effecting, by means of popular opinion, a reform in' the financial department of the Government of the Colony. We were glad to find that a beginning was made in so necessary a work, and we now return to the subject in order to give the Hawke’s Bay public an outline of the principles and proposed operations of the said League, and to do what in us lies to bring about the formation of an auxiliary society in this Province.

From the report given in the Nelson papers, we learn that this co-operation is earnestly desired, and that to the end there may. be no obstacle to such co-operation, the objects of the League should be confined exclusively to the effecting of the proposed financial reform,. and which is of universal interest, carefully avoiding all merely local :or Provincial objects, so as to ensure the aid of all who have a regard for the welfare of the Colony. The three following, then, are stated to he the objects of the League;— (1.) A reduction of the Customs duties. (2.) A mode of raising the necessary revenue, which shall be less burdensome to the industry, commerce, and enterprise of the Colony. (3.) Retrenchment in the public expenditure.

Special provision has been made in the constitution of the League, for the working together with similar, or auxiliary associations throughout the Colony, and, with, this end, the following code of rules have been, after due deliberation, adopted ;-r

1. :The object of the League shall he to collect and diffuse accurate information respecting the finances of the Colony: to promote all wellconsidered improvements in the mode of raising the public revenue; and to enforce, by all constitutional means, the practice of economy in the public service without detriment. to its efficiency. 2. In the. event of similar associations being instituted'in'other parts of the Colony for the attainment of the same objects, the committee shall he empowered to effect a union with such associations in any manner that may be agreed upon, and to adapt the name of this League to sucli alteration of circumstances in any way that may he expedient. 3. Every subscriber of one shilling or upwards shall he admitted as a member for. the current year. ■ * i. The business of the League shall be conducted by a committee, consisting of a President, Vice-president, Treasurer, Secretary, and not less than ten, or .more than seventeen other members, all of whqm shall he‘elected annually by the subscribers; but’vacancies occurring during the year may he filled up by the committee. ■ 5. Besides an annual meeting, the subscribers shall be called together from lame to , time by the committee, as occasion may arise; and it shall he competent for any twenty subscribers to summon h ;neetb)g of. the whole, at any..tame.on giving a clear , week’s notice iix the jmblic papprA . 6: In order to secure the adherence’of the public at large fpr the common object of effecting a reform in the fiuancial system of New ,Zealand, it shall .be a standing instraction to the committee to avoid all proceedings partaking pf a merely local or parly character, ; ,

After, the uniform advocacy of the principles enunciated, by, thej. Nelson observed, in our “columns,!: we : need scarcely say that the Financial Re; pqbm League has our warmest sypapathy, ” ' - "'' -

We were glad to find that at the meeting referred to, the association was actually brought into existence by the enrolment of the names of sixty individuals as members, and the election of a President (the Superintendent of the Province), a Vice-President, and a Committee. We wish them, all success in their laudable undertaking, and would s.ay to our fellow settlers in this town and Province,, go and do likewise. We think that the following considerations which we append will show sufficient cause for the work(l.) Every man, woman, and child, , are taxed at the rate of «£6 per annum; Every family, from £ls to £SO, or even more, according

to the number of individuals. (2.) These taxes are so arranged by the iniquitous tariff, to press even more heavily on the poor man than on the wealthy ; the coarse and bulky articles used by the poor, being taxed bulk for bulk the same as the finer, more costly and lasting articles used by the rich. (3.) This heavy tax of nearly 2s. 6d. per week on each man, woman, and child, does not represent, by any means, the whole sum paid by each, but only that portion which actually reaches the Government, the sums actually paid including a multiplicity of charges which cannot well be estimated, but including, amongst other things, interest on capital, the risk it sustains, &c., which merchants and dealers wholesale and retail—must, of necessity, charge to the consumer on the amount paid in taxes, as well as on the prime cost of goods, and which, it is believed, nearly or . quite doubles the burden to the tax-payer. (4.) The tariff system is, ef all systems, of raising a revenue, most extravagant and expensive, the actual cost of collecting the duties ranging from five per cent, (the lowest) to, in some cases, as shown by a Parliamentary return, to many times the amount collected ; one special case is given where it cost at the rate of £2,770 11s. 9d. to collect £IOO.

The above considerations, amongst many others that could be mooted, sufficiently shows reason for the establishment of associations for effecting financial reform—-a reform that will be granted as soon as the demand-is fairly made by the people, but which those who benefit by things as they are, will not grant till such demand be made.