ESTABLISHED 1866. Marlborough Express. PUBLISHED EVERY EVENING. SATURDAY, MARCH 29, 1902. THE TRANSVAAL.

Marlborough Express, Volume XXXVI, Issue 74, 29 March 1902, Page 2

ESTABLISHED 1866. Marlborough Express. PUBLISHED EVERY EVENING. SATURDAY, MARCH 29, 1902. THE TRANSVAAL.

A modest little cablegram from Pretoria announces a singularly important action on the part of the temporary British Administration of the Transvaal, informing us, as it does, that the wealthy mining lords of the now famous Rand are to be forced to contribute a fair share of the revenue of the State from which they draw such fabulous riches. A proclamation has been issued which fixes the stamp duty at 7s 6d per £100 on the share and loan capital of companies. This means a good deal more than is apparent on the surface, for in the Transvaal the capital of the various mining companies is much heavier than it is in Australia. Most of the Rand companies have been heavily " loaded," owing to the necessity for finding large amounts with which to satisfy the greedy company promoters. Roughly speaking, the total capital invested in Transvaal mines has been estimated at 300 millions sterling. At the rate quoted, here is a nice little nest-egg of nearly a million, and it must be remembered that new companies are now being floated almost weekly in London. We have before us an English weekly journal dated February 8, in which are advertisements of six new Transvaal mining companies having a total capital of £2,750,000, and it is wellknown that the moment peace is finally secured the gold boom on the Rand will be fiercer than ever, for there are miles upon miles of reefs which the late Transvaal Government would not allow to be even prospected, but which, judging by the surrounding country, are richly gold bearing. What with a heavy stamp duty and an annual tax upon the gold output, the Transvaal should provide a very large proportion of the cost of th« war, and that without placing additional burdens upon the shoulders of those upon whom such burdens would press heavily. The mining companies have often been accused by Boers and pro-Boers of having intrigued to bring about the war, but it is just possible that the South African Mr Moneybags may fare even worse under British than under Boer

taxation.