The Thames Star. PUBLISHED DAILY AT FOUR O'OLOCK P.M. Resurrexi. SATURDAY, MAY 3, 1879.

Thames Star, Volume X, Issue 3184, 3 May 1879, Page 2

The Thames Star. PUBLISHED DAILY AT FOUR O'OLOCK P.M. Resurrexi. SATURDAY, MAY 3, 1879.

Upon the question of finance the Government, it i« said, will be brought to book at an early stage of the coming session of Parliament,"and our Telegrams from the seat of Government hint at the probable necessity for a new loan to meet the deficiencies in the revenue. By many of pur contemporaries the Colonial Treasurer has been roughly handled, and many holes have been picked in his statement of the probable revenue to be received during the present financial year. There is little doubt but all his anticipations will not be realised, or ought it be expected that any Treasurer's statement should be so com* plete that no disappointments would be possible. There are many reasons to prerent a correct estimate being arrived at, and although allowances are usually made, still many circumstances must necessarily arise that no amount of forethought or calculation can make provision for, and if fair excuses can be made by a Treasurer for disappointed hopes, the same; should be accepted. The greatest falling off in revenue is anticipated from the land sales, but the over speculation in land of late years, in the South Island especially, and the lobs of the revenue that might fairly be expected from the sale of the Waimate Plains, sufficiently accounts for the falling off in this department. Erom the new Land Tax, however, the expectations of the Treasurer have been more than realised, if the statements of the Herald are to be taken as correct, for the anticipated revenue from this tax is as follows:—" Otago pays between £32,000 and £33,000, and Canterbury about the same pays about. £10,000; IV elson, about £5,0C0; Marlborough, £4000 ; Taranaki, £3,000; Hawke's Bay, £8,000;. and the whole Provincial Histrict of Auckland somewhat over £6C00." The Herald further adds :—" We are free to recognise the complete justice of the tax. Where, as in the province of Auckland, the land is cut up into small holdings, the owners or cultivators of whioh pay large taxation through the Customs, most people slip through the net, as being fob small to be caught by its meshes. '■ Where, as in Otago and Canterbury, there'are many large landholders, who derive enormous wealth from their estates, which wealth has hitherto escaped taxation altogether, and

ttJio have -been greatly benefited by the public WorLa expenditure; we have a substantial return from the land tax." The, remarks of Sir George Grey when explaining the working of this tax to his constituents on the Thames, is fully borne out by tho above statement, and it is probable that from this tax a -per-, manent and a large revenue may be calculated upon to assist in tho governmonfc of the Colony. It was well known that when the tax was introduced, and the prosent small rate fixed, that it was but the thin end of the wedge, and that future Parliaments would bo asked to increase tho rate. Tho large amount which is anticipated from thio taxj and the .inexpensive way in : which it may reasonably be expected to be collected in the future, will gender it, with the Customs, one of the most favorite means at the disposal of our legislators for appealing to the pockets of the people. It will be remembered, that the amount estimated from such a tax by the Treasurer was £1OO;OOG, which, with all expenses deducted, will be fully received; therefore, the Treasurer is to be congratulated upon the success of this measure, and may be excused if some of his other speculations do not not turn put as well at he anticipated.