The Stratford Evening Post. WITH WHICH IS INCORPORATED THE EGMONT SETTLER. FRIDAY, SEPTEMBER 6, 1912. UNEARNED INCREMENT.

Stratford Evening Post, Volume XXXIV, Issue 7, 2 September 1912, Page 4

The Stratford Evening Post. WITH WHICH IS INCORPORATED THE EGMONT SETTLER. FRIDAY, SEPTEMBER 6, 1912. UNEARNED INCREMENT.

The unearned increment and how to deal with it has worried many poopie, but those who hold it belongs to the State since it is the result of the general activity 1' the community and not of the special exertions of any particular individual, will find their theory rather shaken by a case put forward by the Sydney “Daily Telegraph,” in which it is pointed out that at tins time lead is worth about £2O a ton, or something like £G above the level at which it stood after the collapse of the boom In America five years ago. To Australia this means an addition on the annual output of at least one million sterling. Twelv months ago copper was worth £55, and its price to-day is nearly £BO, which is estimated to moan another million annually to Australia. Briefly two millions of money a year have been added to the value of Australia’s lead and copper products, all of which, as far as the Commonwealth is concerned, represents what is called “unearned increment.” As a result more men are employed at the industry and higher wages and higher dividends are being paid, though nobody works any harder or contributes in arv wav to the causes which have

trivcn the industry its added value To whom, therefore, asks the “Telegraph,” does this belong? and proceeds to isihow that the activity of the general community had no more to dr with the addition to the value of the Commonwealth’s lead and coppoi industries than the individual? amongst whom it is distributed. The rise is all due to market movements at the other side of the world over which we have no control. The last boom which put copper up to CllO and load to over £2O a ton was the result of financial manipulations by an American ring, winch put millions cf pounds into Australian pockets. ! hat increment, according to the theories above referred to, was the property of the Wall-street hulls, hut no one pro-

posed that Australia should remit the amount to those wliose e.xartions h;;d produced it. Whether lire. j>;-(.sent rise is due to a similar cause has to he seen. But'one til.hie; certain is that the two millions a year increment is unearned, as far as Australian miners arc concerned. It takes no more capital or labour to produce the f ame amount of metal now than it did when the market price of the Commonwealth’s output was this much less. The difficulty, therefore, is to see how the retention of this money can he made tally with the principles professed hy the Australian Corernmeat and the other people in otlnnplaces who are so anxious about returning the “unearned increment” to the State—always providing it has not grown on to or out of property held or owned hy themselves individually.

THE CONCmONS OF SHUNTING

“Another matter which is engaging my serious attention i.s the number of accidents which occur to railway employees, especially shunters,” remarks the lion. \V. H. IJerrics in tie Railways Statement, and he adds that he lias directed, the General Manager “to look closely into the conditions of shunting.” One statement hy the Minister—“fortunately during the last Jiuauoial year the average of accidents, fatal and otherwise, was lower than usual”—needs some explanation, remarks the Wellington “Post,” and proceeds to give a comparison of accidents (employees, passengers', and other persons) which shows: — Fatal. Serious. Minor. 1910- ... 35 3 7-18 1911- ... 23 0 81 7 The accidents (all kinds) to railway employees for the year 1910-11 totalled 722 (including 86 for shunters), and for 1911-12 the number was 806

(shunters 93). The average of accidents to employees in 1910-11 was, roughly, one for every eighteen persons, and in 1911-12 one for every seventeen. The year 1910-11 was apparently an abnormal one for fatal accidents. The list increased by ten over the 1909-10 period (25 fatal, 11 serious, 705 minor). An examination of the tables for the past two years shows a disturbing increase for the North Island main line and branches. The figures, comprising accidents to workers and others, for the main systems (including branches) were:— 1910- Fatal. Serious. Minor North ... 10 2 342 South ... 21 1911North ... 11 2 120 South ... 10 2 -.29 Thus in the South the fatal accidents were reduced hy half. In the North the rate of fatalities has not appreciably varied, but the minor accidents have bounded up. The figures a.r< ceita,inly sadly eloquent, and it is nr, surprise that the Minister has doomed it his duty to have enquiries made.