TAXING PRODUCE AND LOAN DEBMNTURES.

Manawatu Herald, Volume XXXVIII, Issue 1564, 15 June 1916, Page 2

TAXING PRODUCE AND LOAN DEBMNTURES.

AMPLIFYING liis surest ion that :i tax of i per cent. should l»e placed upon nil descriptions of product' exported from (lie Dominion, Mr ITarold ISi'iiuchinnp soys ; —“While formers ore beneliling to such un enorraous extent hy the magnilicent prices realised for their produce, it would not he imreusomihle to ask lli(‘m to contribute so small an amount. For instance, a man with 50 hales of wool valued for export at £1,500, or double the price before the war, would contribute £7 10s per annum. I do not propose that this tax would necessarily be permanent because I think it may be desirable later on that Government shall set aside the amount received annually from death and succession duties with the distinct object of reducing 1 tin' public indebtedness of the Dominion. To my mind the Government is not .justified in treating- as revenue money that represents depreciation of capital." Ueverling to the suggested payment of death and succession duties by loan debentures, Mr Beauchamp said he knew many elderly people in the Dominion who were keeping large sums liquid and earning practically nothing with the object of providing for payment of death and succession duties without embarrassment to their estates. If loan debentures were available for this purpose he was confident that, a large proportion of the loan would be subscribed by these people.