Untitled

New Zealand Times, Volume XXXI, Issue 4911, 18 December 1876, Page 2

In the Evening Post of the 27th of last month appears an article which we should have commented upon at the time but for other matters calling for more immediate attention. The article, - however, contains what we consider to be a most unjust and uncalled for aspersion upon the mercantile community of this colony; and therefore, - although somewhat late in the day, we , beg to draw our readers’ attention to the same. The Post quotes some figures from, the Lyttelton Times, comparing the'Customs revenue for the financial year ending 30th June, 1876, with that of the preceding twelve months. These figures shows a falling off in the. latter period-of a sum of £37,906 in amount received’ for ad valorem duties. Commenting upon this, the Post says: —■ “ The cause of this decrease in the amount obtained from ad valorem duties is not far to seek. It is quite evident that with an increased population in the shape of immigrants-..- . and: with a large loan expenditure, going on, the amount of goods purchased by the people of this colony on which ad valorem duties were chargeable would be increased rather than diminished. The only way, therefore,. of accounting for the decrease in the amount of duties collected is that a system has grown up of making false declarations of value.” Now, we take exception to this statement onthepartof the Evening Post. Wedo not believe that our merchants are so dishonest or our Custom House officers so negligent as to lead that -paper to infer that a ■system of false valuations prevails. The “ Wellington Monthly Prices Current,” a journal we prefer to the Post as an authority for commercial statistics andinformation, in its issue of August 31,1875, says : —“lii our last issue we gave a return of the value of imports and exports for the financial year ended 30th June, 1875, with comparative statement for the preceding twelve months. The imports exhibited an increase during the latter period at the rate of more than 15 per cent, for the whole colony, and 50 per cent, for this province. From this it has been inferred by some that Wellington must :be heavily overstocked with imports. It is true that in drapery we are, in common with every market in the colony, over-supplied; but in other branches of trade our stocks, though full, are by no’ means unusually large.” In its issue of the 28th July last the same journal says, quoting the figures referred to by the Post’. — ; .“ln the class of ‘goods ad valorem,' however, there is a falling off of nearly £38,000. We believe this •to be attributable to the fact that drapery, which is the principal item under this heading, was largely over - imported in the earlier period under comparison. (1874-5), and the subsequent period therefore suffered in proportion. It is probable that drapery may be responsible for even a larger falling off than the above figures show, as under the same heading are included many articles of hardware, jgroceries, &Cj, which there is reason to believe would have figured for an increase if returned separately.” From inquiries we have made we have reason to believe that of the falling off in the ad valorem duties is correct, and hope in timjiutpre the Evening Post will not be so ready with what we consider a most unwarranted Charge against the importers of this colbny.