YET ANOTHER FINANCIAL SCHEME.

Wairarapa Daily Times, Volume 6, Issue 1696, 28 May 1884, Page 2

YET ANOTHER FINANCIAL SCHEME.

(Abridged from the Lyttelton Times.) Dr. Uakewell, of Cliristchurch, delivered a political lecture at Sydenham on Wednesday evening. After some preliminary remarks he proceeded to discuss the principles on which our future legislation ought to be conducted, which should bo, that the interests of the producer should bo considered first of all, and; abovo all, and'then, only when they were assured, the interests of the distributor and the capitalists, After describing,the way in which tho producers had been treated inthe past, and are still treated; he proceeded to consider the remedies. The first was to throw the burden of the debt mainly on those who had been most benefited by the large expenditure, namely, tho holders of landed property He then stated his scheme to be—-Ist. The reduction of all duties, except on intoxicating liquors, tobacco, tea, coffee, aud sugar, and a few protected articles, to a 5 per cent "ad valorem" duty. Protected articles, which should only be the necessaries of life, should have a cent per day duty placed on them, so that local industries should encounter only local competition. . 2nd. Tho imposition of a Land tax sufficient to make up for the loss of revenue thus incurred, on all lands except the smallest holdings of cultivated' land, not exceeding 100 acres, 3rd. A tax on absentees of 15 per cent per annum on their net incomes. 4th. The breaking up of large estates by prohibiting any person, except present holders" from _ acquiring, either by purchase, inheritance, or mortgage, the right to more than 5000 acres of pastoral.or 1000 acres of agricultural land. Thus none of the present holders would be disturbed, except by their own voluntary act; but if they did not sell, or otherwise dispose of their large estates during life, the Stale would resume possession of them at their death, as of intestates' properly, after distributing among their heirs the full amount each would bo entitled to hold under the new law. This would bring into the market all the larger properties. He proposed, also^ to prevent any Corporation from holding any bind beyond 50 acres, or from being mortgagee of more than that quantity. sth. By passing a Homestead Act resembling that in force in Texas, exempting from seizure for debt or mortgage any farm of 100 acres or less occupied bythe owner and cultivator, together with such furniture, agricultural implements, cattle, draught animals, (fee, as may be necessary for working the farms. 6th. By imposing succession duties, payable when required by the Government, in the land itself, when estates exceeded 5000 acres and 1000 ajres respectively. 7th. By giving power to the Government to resume possession of any uncultivated agricultural land required for settlement on payment of tbe last price paid tor it. He would also suggest that the law of succession, instituted by the Code Napoleon, should be adopted here, with the modification of not allowing property to bo divided . when the share of each child would be less than fifty acres. For the immediate relief of the finances, and of tho present distressed condition of the working classes, he proposed that all State immigration should cease at , once, and that the funds thus employed should be devoted to conveying working men and their families from parts of the colony where work could not be obtained to parts where (if any such exist) workmen cannot be obtained. In order to complete the main trunk railways, both of the North and Middle Islands, and make, the West Coast line, he would sell all the paying lines for whatever they would bring. No doubt five or six millions could thus be obtained, which could be profitably employed in opening up tho Colonial lands. He said there was nothing socialistic or revolutionary m these schemes, and there was no fear of driving away capital by their adoption. Ho concluded by an appeal to the working men to be united, and not to be led away by those who would seek to divide them on points of minor importance,