TAXATION AND UNEMPLOYMENT.

Press, Volume LXVI, Issue 20033, 15 September 1930, Page 13

TAXATION AND UNEMPLOYMENT.

TO THE' EDITOR- or THE" rMSS. Sir, —In your issue of the 10th the New Zealand Welfare League, Wellington, asks us, Canterbury Trades and Labour Council, what is meant .by the statement made. in. reply to Mr Mander "that surplus t eapital is being hoarded up." "" ■" * The first question .that conf roats .this Council in reply., the Welfare League of Wellington- and; Mr Mander of Wellington, are synonymous, and there being no reply:from.Mr Man-, der to. our statement we., conclude that this is so, and . the attack, is only .shifted because the previous one adopted has been effectively checked by our-reply. Even tho League "with- all its knowledge and facilities" has'na. reply, as they have not checked -the figures. We would be obliged if'-the League would check our figures (seeing that Mr Mander has not) andxtel£:the public and ourselves if we are ;wrdng; As to the question, what is-,meant by Oie statement that money or'capital is

being hoarded <up .on the. one hand, and; -privations of workers and workles.3 _on the Other'hand, the League in' asking this Council (and itself), this .question, develops into, the burlesque. Oil examination, however, it is a queer .make-up; in human form that will not -twinge at; least at the tragic.revelation of a re-; view of the. returns, in the..Year Book of 1930', whi'eh 'discloses the. ioUowing; .facts:— Deceased persons left the following: — Value of Estates. Total. ' Persons. £ £ & , 110 20,000 or over 5,432,629. 46 15,000—20,000' 814,080; 119 10,000—15,000 " 1,439,530 123 7,00.0 —10,000 1,066,197'' 233 5,000 7,500 1,418,613 ~613 £10,171,079 Incomes of individuals work out asfollows: — Income .: Income No. of Per Year: Per "Week. Persons. £ £ £ ' 1281 900— 1,000 IS— 204714 1,000 2,000 20— 40* 1011 2,000 —3,000 40— 60 299 3,000 5,000 60i— 10047 . 5,000 6,000 100— 120. I?.' 8,000 — 9,000 ' ■ 15 10,000—20,000 > ' 750—1,600 2 20,000—30,000 1,600—2,000 Further, we draw- the • League's 'atten--tion to the fact that 30.5 million pounds; are held on fixed doposit 7 and this in little New Zealand/ ■ We do not know if the above "capital"; is "buried or put in a stocking or. strong bps," but .we. do. know that "be;-, f ore . thes.e amounts, can" be. .take? ;'f • .industry, .it has first'to'.be created,,and workers vrho'.art being deprived, .ofenough to exist. upon have played " a lion's part'in creating it, and. .are .entitled to more than a subsistence, wage,, as we quoted, in return for* services, rendered. The League also asks: "Do we' honestly, believe that the . way to im-;' prove the workers and the national position is to spend 'this capital' so aa; to give' a wage of £.s.per week instead* of investing it?" Wc reply that if this capital were invested in industry, or' loans to farmers, . that; "this ; capital" - would considerably improve both theworker's' and the nation's po'sition.— •Yours,, etc., CANTERBURY- TRADES ' V ANI> LABOUR COUNCIL. September • 12th, 1050. ' j .