Untitled

New Zealand Times, Volume XXX, Issue 4373, 26 March 1875, Page 2

The Victorian Government aro now engaged, according to Melbourne papers, in framing a policy to submit to the next Session of Parliament. Its only hope of standing against Sir James McCulloch’s opposition lies in a return to Free Trade principles. That veteran statesman is prepared, it is stated, “ to submit “ a scheme involving a diminution of “ Customs duties, to be brought about “ by the imposition of a tax on pro- “ party, a proposal towards which “ the public mind has matured during “ these last four years,” the Australasian remarks. Whether Mr. Kerferd will he able to induce his colleagues to abandon the Protectionist delusion is another matter. We can hardly suppose it likely, although Victoria has notoriously suffered great loss through its adoption. Indeed, the state of that colony is somewhat critical. The leading newspaper, from which we have already quoted, states that “there is good reason to bo- “ lieve that the present commercial con- “ dition of Victoria is anything but pros- “ perous. From all sides (it adds) come “ accounts of depression and extreme “ dulness of trade, and as the great rail- “ way works that have been commenced “ are completed, wo may fairly expect “ that this condition is more likely to “grow worse than improve.” A declining revenue is therefore anticipated ; and the Chief Secretary is invited to remove the trammels on commercial and industrial enterprise which have for so long acted as a drag upon the

country. Tlio same paper remarks: — “It is becoming increasingly evident “that if this colony is to maintain her “ ground in the race with New South “ Wales, she must cast off from her trade “ those trammels, the discarding of which “ has had as beneficial an effect on the “prosperity of the sister colony. The “ situation that invites the Ministry to “ take the course recommended at once “ by sound political considerations and “ by economical wisdom, also suggests “ that the occasion would form a proper 11 one for doing something to equalise the “ burden of taxation, and for making “ property contribute its equitable share “to the expenses of the State. Such a “ course would at once be a lightening of “ the burdens of the great bulk of the “ community, and a loosening of the “ bonds by which the operations of trade “ are at present obstructed.” These are sound financial views, and should be adopted by Victorian statesmen. Should they be rejected, and the present fiscal policy be continued, Victoria must retrograde. What Protection has done for Victoria is succinctly told in the following words from the Australasian : — “ We have had this system in “ force now for many years, and the most “ enthusiastic supporters have had ample “ means of testing its promises by its “ results. It has ruined the intercolonial “ trade of Victoria, and even such parts “ as Riverina, that have appeared to bo- “ long commercially to this colony, are “ likely at no distant day to diminish “very much their consumption of Mel- “ bourne supplies. It has kept alive a “ few sickly industries at the price of “great injury to other branches of “production, greatly enhanced price to “ the consumer, and greatly diminished “value of their earnings to the great “ bulk of producers.” With such a record, surely there is enough intelligence and public spirit left in Victoria to abandon a policy which was originally forced upon the country by the clamor of demagogues. At all events, the condition of Victoria should be a warning to neighboring colonies. New Zealand especially should beware of imitating Victoria in this particular, although there was a decided tendency in that direction some years ago. What we should do above everything else, is to remove all restriction upon trade and commerce and equalise taxation. Having done this, our law-makers may rest assured the country will prosper.