The Waikato Times. SATURDAY, DECEMBER 13, 1879.

Waikato Times, Volume XIII, Issue 1165, 13 December 1879, Page 2

The Waikato Times.

SATURDAY, DECEMBER 13, 1879.

Equal and exact justice to all men, Of whatever state or persuasion, religious or political. Here shall the Press the People's right maintain, tJnawed by influence and aibribed by gain.

3?he Property Assessment Bill is the first meaaure brought forward m the Assembly which has proved anything like a thorough and exhaostive debate. It is one m which the country is deeply interested, affecting not merely the improved lnncls of the colony, as the Land Tax Act did, but every thing that a man possesses, and even it is feared m aocae cases, that which he doea not possess. One thing is at least satisfactory, the proposal to fix the exemption of taxation at 300 has been altered m committee to .£SOO. So far good, but we doubt not the measure with whatever, amendments passed will be most unpopular even imposed upon the country. Yet it may truly be afked what else can be done? The Opposition have denounced the measure is inquisitional, oppressive, and unjust, but we cannot see thab they have offered any practicable substitute. To a certain extent we believe the neces. sity ' for increased taxation might have been avoided by a more sincere and thorough, attempt at retrenchment, but the alternative proposed by the Opposition of meeting the deficency to the extent of £200,000 by the imposition of school fees is not ouiy objectionable m the highest degree, but shows how unmistakably the opponents of the measure are drived to any expediency m their provision of a substitute. The truth is the electors have for a long time been demanding that the finances of the colony should be placed upon a aottod basis, and now that this is done, fche burden is sore to bear, and they are fain to cry that it were better to have stayed and enjoyed the flesh-pots of JBgypt than to feed on manna m the wilderness, better to have allowed matters to have glided on pleasantly under the Grey Ministry than to have faced the dangers and difficulties of passing through a financial desert to more prosperous times. No doubt had the late Ministry remained m power the difficulty would have been smoothed over. Items could have been passed on into next year's accounts, only, however, to have be©n more difficult then to overcome. Treasury Bills would have helped to stop the gap. But the crash must have come soocei' j or later, and *he longer delayed the more disastrous. Desperate diseases require desperate remedies, and, therefore, we think ib will be agreed that, with considerable amendment m Committee, this measure of ths Government will have to be ac-| eepted. , j Tho Bill i« now well forward m the House, and our readers will, doubtless be anxious tp learn something of its r/ature. A commissioner is to be appointed for the' colony, and under Mm there wili be ■ a deputy commissioner for every district appointed by the Governor. As the returns will necessarily disclose a man's private affairs, his debts being , allowed as a set-off qgainst value of property owned, these and all other officers will be sworn to (Secrecy, and the violation : of theii oath will entail twelve months' imprisonment, with or without hard labor. A.3 we have said, all property, over and above the sues of .£SOO, which a man may hold withia isia colony, whether real or personal, will $>©. jl#bl9 to taxation, but where joint sco&k com-

panies are taxe.l, as suub, the owners of share? will nob be taxed a second time on these. .For the purpose s of getting at the vrilne of iiidividiwV .property every person owning property, whether entitled to exemption or not, shall, when I'eqrci'ed to do so by a, public notice given as prescribed, prepare and deliver, within Mie period to bp mentioned m such noiicc, to tho assessor 'or other .person appointed to receive the same, a statement m writing, m such form as may be prescribed, and signed by the person making- the same. Firstly, of the description, situation, and value of the real and personal property belonging to such person of ever? kind aud' every source, and secondly of all mortgages, encumbrances, and charges received thereon respectively, and of nil debts owing- by such person for which he claims a deduction, to which a declaration must be made that the same is true and accurate m all particulars. Farther returns may be required and the assessor may enter property and ask questions, or may order a second assessment Separate assessment,rollsof i eal and personal property are to be made m boroaorhs and road districts, and a notice of date for objections is to bfi given. In tho case of mortgages it is provided that the tax shall be paid ,by the mortgagee, for it is distinctly specified that the niorbe-agor of any lands shall m respect of such land be liabls to taxation only on the difference between the whole value 'of the land mortgaged and the amount of the money advanced on mortgage of the land, provided that m oveiy such case the mortgagor shall append to the statement belonging to him a certificate from the Registrar of Deeds or the District Registrar of Lands of the district where the lands are situated, stating the amount of the several mortgages on such lantis, and the names and addresses of the respective mortgagees m respect of the amount of the money advanced on mortgage on the land, shall pay the tax payable m respect of such, money which shall be deemed to be a payment made by the the mortgagor, and all monies as paid by a mortgagor shall be allowed for m the accounts between the mortgagor and mortgagee. That the intentions of the, Act m this and other respects shall not be contravened the 24th clause of the Act provides that " no contract, covenant, or agreement touching the paymerit of taxes to be charged on their respective charges heretofore made or hereafter to be made between any persons which is contrary to the intent or meaning of this Act, shall be binding on the parties.