The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER. THURSDAY, MARCH 18, 1915. WAR TAX FOR CANADA.

Stratford Evening Post, Volume XXV, Issue 64, 18 March 1915, Page 4

The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER. THURSDAY, MARCH 18, 1915. WAR TAX FOR CANADA.

Canada’s Minister for Finance lias announced in Parliament the war taxation measures the Government lias decided upon, and they are not by any, means half-hearted. Always in the forefront in Imperialism, Canada’s splendid loyalty to Britain in this great' war crisis has been more evident than ever in the nation’s history. The Can-' adian Government requires a great sum 1 for its extraordinary war expenditure, and for this purpose Bank circulation and the business of loan lire insurance companies are taxed. A stamp tax is applied to business and banking trails-' actions, to railway and steamship tic-' kets, telegraph and cable messages, letters, wines and patent medicines, j There is a customs tariff increase cov-| ering all imports now dutiable, and the free list of is virtually wiped out. There will be no income tax. 1 Increased customs charges became ef-j fective from February 10th. They are: 7i per cent., increase to the general and intermediate tariff rates, and 5 per cent, increase to British preferential 1 rates. In the case of goods now on] the free list there will hereafter be a Customs charge of 7.V per cent on goods from the United tSates and elsewhere, with the exception of Great Britain and her Colonies on the preferential list, where the charge will be 5 per cent.' An increased revenue of more than | 20,000,000 dollars annually is expected from the new tariff’ duties, and from the stamp tax 8,000,000 dollars. The Hon. Air AVhite, Alinister for Finance, estimates that even with the new duties being imposed the loss of revenue to the end of the present fiscal year, March 31. will amount to £33,000,000 dollars. The total deficit on the year’s' operation is estimated at 00.000.000 dollars. The Finance Minister also estimates that the cash disbursement in the fiscal year beginning April Ist next will total 300.000,000 dollars, while on the present basis the. revenue will amount to but 120,000,000 dollars. The special war expenditures, included

ill the total amount, lie estimated at 100,000,000 dollars, all of uhieh, he said, would he borrowed. Among the direct taxes proposed are:- Hank note circulation, 1 per cent; income on trust and loan companies. 1 per cent; net premiums on insurance companies, except life, fraternal and marine. 1 per cent each; railway and steamship tickote. o cents I'or ticket costing t dollar, and 5 cents each additional 5 dollars; sleeping car berths, 10 cents each. New Zealand will have to cheerfully lace something of the same sort soon ; it is part of the price of freedom.