Wairarapa Daily Times. [ESTABLISHED 1878.] SATURDAY, APRIL 21, 1894. SUCCESSION DUTIES.

Wairarapa Daily Times, Volume XV, Issue 4701, 21 April 1894, Page 2

Wairarapa Daily Times. [ESTABLISHED 1878.] SATURDAY, APRIL 21, 1894. SUCCESSION DUTIES.

The Sew Zmland 2ims has been dii coming upon succession duties an suggesting that the State ought I make tbem a little heavier in tl interests of the commonweal. Tl sum and substance oi the article contained in the following passage The dead man lias leit his substance, tl heir requires only a por|ipn for lua aqi sislence, a large amount should lie absorbs by _ the Btstp. That ia tho modern theoi which is gaining ground in theworl Ever/ fifty yeors the JeiVs had a jubile wlun si' debts were squared a<j(l proper reve .'ted to the original dispositions. Su cession duties are a lair substitute forth: fundamentally honest, practical and equi able system, Testators being unable to ( out o! tho world otherwise than as tin came into it, viz., naked, might h&< silenced criticism by liberal bequests ; charity, As they have not all done s though many have, their heirs haver reason to complain if the Stato comes don upon the inherited property. Thepnbl has at the same time, let us not forget, Bolemn duty to perform, It is the duty i insisting that tho moneys obta ; ned Iro: succession duties shall be devoted to tl Kctifioation of the social equilibrium, 1 spend succession duties in the ordinary ei penscs ot Government should be a pern offence, punishable within a short time i the acceptance of the money. Successio duties are the contribution of the rich I tho solution oi ill? soeia l problem, wine owes its nlmoft insoluble character to tli laws which favour the rich uijduly. Tl: sphemo of Government which treats thei in that spirit' will deserve well of mankiin Any system which regards themasmei plunder will disappear beneath universi popiempt, We should think that enough he been already accomplished in the wa of driving capital away, and this nail means " wage money " without Jc vising new methods of stranglin labour (fori»pital cannot bo throttle without labour being strangled The BUCCeßsion duties inNewZealan are already fairly onerous, so much s : that fathers liavft been known to pilar 'their fortunes with their children- | prior to death—in order to evad ! thefli. Ijlake them stilj heavier an fathers will feel disposed to becom I absentees to pi event their cbildre frpm bejng rofjbed, Parental affec I lion is a powerful factor in ereatin wealth, and if the jjtato is tp take tb plane of ths child, afld a man's none after his death is to he wasted i: unprofitable socialistic extravagance: he will naturally leel disposed toleav New Zealand, taking his sheaves wit him. The argument abput pbftritabl bequests is r weak one, for experi once has provedminnumerable ease that tliey are piisdireoM, misapplie ajid worthless, As tp the reotificatio; of the social equilibrium we shal believe in t|iat when Messrs Seddon Beeves and Co,, instead of climbin, up the sopial ladder 'sfep dojjp. to th bpttom rung. ~\ The solution of th social problem talked of means thn these gentlemen , shall live in clove while thousands ;pf their fpllow mei p.ro starving, The laws which ar paid tp fjkvpur the rioh unduly are th laws under, whigh in New thousands of poor people have beebpi riph j the laws whipb are nowa-day passed to' favour the poor are lili Dead gea | plpaßant to thp eye but bitter to tjiq taste, for ever; Labour Act passed since the pre Sen Ministry came into office we can coun a thousand poor Men, ' Tim reports of recent stock sale, sbowssHgbtly improved prices, but i is asjyet too soon to say.whethe rates i»ve really taken a turn for IE

better, and whether the outlook for), graziera ia itiore encouraging. Con* J • sidering the firmness of prices in the i Home market,-the abundance of feed throughout the district, and some slight relaxation in the money market currentrntes for stock are abnormally low, PoHßtbly the feeling of distrust and apprehension whioh pervades the oommuniiy and checks enterprise in #ll directions is responsible for the depression in livo ttock values, The old Colonial spirit 4 of adventurous trading, which at one time almost bordered on rash speculation, appears to .have died out completely, and in its place we have cautious growers and fainthearted dealers. There is, of course, tome sense of safety and security in times like these when no risk is taken, and all t' ade is restrict ed, hut we certainly would like to see ti little more vitality, especially in th« stock market.