THE PROPERTY TAX.
Speaking of the property Tax at Dunedin West, Mr W. D. Stfwart said — the tax was one on the springs of industry m every sense of the word. There was plenty of money m the colony seeking investment, capitalists knew that if they put 40,000 or ,£50,000 m some new venture they ran a risk of getting no return during the three or four years which were requisite to establish the industry, and m the meantime they not only lost the interest on their money but they had to pay property-tax, m many instances on machinery which was becoming less valuable every year. No one under such circumstances cared to risk their money m those enterprises which would be of such immense value to the colony. No country could achieve true greatness unless it had its agriculture, commerce, and manufactures something like evenly balanced. The weak part m. this colony was that our manufactures wiere very limited, and that our capitalists lacked enterprise. We were a very small people, but very little encouragement was held out at present for capital to come out to this colony. No country should be able to offer greater inducements to capital and enterprise than this, if its affairs were properly administered.
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Bibliographic details
Manawatu Standard, Volume IV, Issue 206, 28 July 1884, Page 2
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210THE PROPERTY TAX. Manawatu Standard, Volume IV, Issue 206, 28 July 1884, Page 2
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