WITHDRAWAL OF CAPITAL.

Waikato Times, Volume XXXVI, Issue 2951, 13 June 1891, Page 4

WITHDRAWAL OF CAPITAL.

to nil-: KiiiTott. Sii;.--Is it not very sad that kind an,! phiianthi-ofie gf -utl-men in Kogland whose lai"ean,l generous hearts are burniug with '"z.-al for the wr-lfar.- of these 1 Australasian colonics, are withdrawing th" moneys they have-ent out for invest on-lit for benelit, on ai-.eonnt of the bursting up tendencies of the present C.-.v rninent in this colony, and on account of the labour trouhie.-nn Australia ? Th, (-teal democracy in the (liHen-nt colonies over the water are likely to imitate their ignorant brethren in this colony by returning at the next elections hm-tiug up Cov-criinients, and then what will these gentlemen who hive a plethora of ca-h foi which they can find no profitable use in that light little island of thei's, do with it. Labour troubles are prevalent on the continent of Kurope, and also in America, so really these kind moneylenders will very soon have no place in which they on benefit the people by lending; them their spare cash at a high rate ot ii.tert.-t. Oh ! What then will happen to the poor idiots when these money lenders close their bags ? Why, the dolts will starve—how deplorable. Look how pro-pel ous New Zealand and the other colonies weie under the borrowing system ; no sweating of males and females, no land sharks swallowing up the lands of the people, larmeis prosperous because they could borrow money at S and 10 per cent, and then when they had grown their crops, the money lenders swept the whole lot into their colfers leaving the said farmers bereft ot lands and ruined. What shall! we do if the Ballance (loverinnent remains in power for a long time with their wicked policy of giving to the wealth-producers the whole of the wealth they produce. Why, surely it will be the means of destroying the'big capitalists, and then the people will be in the sad position of not needing to borrow from these largehearted and philanthropic gentlemen, having the needful in their own pockets. Vour Melbomlie correspondent said the idiots in that colony with theit strikes were preventing capitalists from investing their monies : consequently tiade was languishing and employment scarce. Now, is this really the cause. I am afraid it is not. We must look further afield for the trite cause. I opine it is in consequence of the unjust economic systems that has been in existence for centuries in the old countries and brought over and planted in these fair colonies. Why, if the lands in Victoria had been nationalised from the foundation of the colony. lam bold to state the great cry of distress from 10.000 unemployed in Melbourne alone would not now be ascending. Wo should not rend of educited men seeking and begging for situations, as scullery maids willing to do anything just for enough food and shelter to keep lite Iliekering. What a sad parody on our boasted nineteenth century Christian civilisation. This is taking place in a city that proudly boasts of its magnificence and splendour. Then there must be thousand.- and thousands more, just on the brink of starvation. Oh, if only this terrible mass of suffering humanity could be brought together m one place and display itself, the scene would simply bo appalling ; and yet most people are willing to oo on in ;i fool's paradise, ever hoping and trusting that something will happen to remove this terrible and awful suU'cring without any ell'ort on their part and without any change in the present economic systems. This is a grave mistake, and moreover these apathetic people blame those who are endeavouring to alter and ameliorate this sad state. They look upon them as fire brands and disturbers of the peace ; but such is not the case. They are really and truly the safety valves. If it were not for these obnoxious agitators and their supporters there would be violent and terrible convulsions. People will not go on Buffering for ever if they are without hope of their grievances being removed, if they can sec no light breaking on the horizon, if there is nothing but the dark and terrible night of suHernig and distress before them. Why, surely an awful and appalling avalanche would most inevitably be the. result. Now, I wish to point out what I consider one of the great's': factors in the every growinir and increasing distress. The land that Melbourne and its suburbs tt.-ind on is worth some C.,0,000,000, and the interest on this at ,"i per cent, would amount to £2, ,"00,000 annually. This interest must he paid out of agricultural production ; there is no other source from which it can be obtained. Now, let. us see how much wool it will take to pay this £2,.,00,000 annually. Why, it would take the wool of more than 15,000,000 sheep at olb each lleece, and the price !)d per Ib._ When the tanners come to see that it is out of tin ir toil and labour that these inflated values are kept up, they will be the most eager and determined for a laud tax of .") per cent on improved land values. It cannot hurt them, but will be of immense benefit, because the improved value on most agricultural lands is almost nominal, especially when it is some distance from large centres of population. Five per cent of a land tax on the present unimproved value of land iu this colony would raise all the revenue required. The Property-tax and Customs duties could be entirely abolished. A small army of Civil servants could then retire into the country and become wealth producers, instead of wealth consumers only. Society would then be constructed upon a just and righteous foundation ; our gaols, lunatic asylums, orphanages, and refuges would become almost tenantless : our po'ice officers would also become tillers of the soil ; and the great unpaid could go on their way rejoicing. We should need very few legislators, for it is only when the social system is built upon spoilation and fraud that so many men are required to look after the interests of their constituents, and themselves in particular ; but when our laws are so framed that what is good for each member of the state is good for the whole nation, then onr law makers will be at a discount, and their occupation will be gone.—Yours, &c, Prog res.s.