The Waikato Times AND THAMES VALLEY GAZETTE. Equal and exact justice to all men, Of whatsoever state or persuasion, religious or political. SATURDAY, JULY 21, 1888.

Waikato Times, Volume XXXI, Issue 2501, 21 July 1888, Page 2

The Waikato Times AND THAMES VALLEY GAZETTE. Equal and exact justice to all men, Of whatsoever state or persuasion, religious or political. SATURDAY, JULY 21, 1888.

We publish in our Supplement to-day an able paper from the pen of Dr. Laishley, being the first of the "New Evangel" series. On this occasion the author reasons out the abstract questions of Protection and Free trade, an:l, taking all the peculiar circumstances which surrouud this colony, he argues that neither policy is applicable to us. As we are compelled to raise revenue, we tr.ust have Customs duties for that purpose, and not to_ protect or aid local industries. To fulfil the latter object duties must be prohibitive, and if made prohibitive they will nnt bring revenue, as the import trade would be annihilated. Neither can there be

Kreetrade, so long as it is necessary to resort to increased taxation through the Customs for the purposes of revenue. Dr. Laishley shows that the increased cost of articlesby protective duties benefits the landowner as well as a small number of of local manufacturers for a time, whilst it ultimately lowers wages and reduces profits. He says " increased Customs duties, however, do not mean increased State revenue—probably the reverse. But they do mean increased cost of living ; and, therefore, spell TAX ! " The whole issue before the country aud Parliament is the restoration of the finances and public confidence through the development of our agricultural and mineral resources. These will not be procured by either Freetrade or Protection. Our readers will do well to carefully peruse the paper for themselves, aiul follow Dr. Laishley's reasonings.