MINING AND DREDGING

Evening Post, Volume CXV, Issue 138, 14 June 1933, Page 14

MINING AND DREDGING

THE TAX ON GOLD

Commenting on the New Zealand gold i.ix, the'"Mining World," London, J'oliiarks:—"One of the main features of the V/aihi meeting was the disquietude ol t.ii-cctors and shareholders regarding i lie unfortunate action of the New ! .calami Government in imposing a i.ax ol! 12s Gil per oz on ,:il gold imported. In these difficult days it is nderstandable why some Governments i;npose limitations on money leaving the country, but to tax the producers of this new money in the raw state is neither crjnifable nor sound linance. This gold iliit.y has the effect of .shortening the life of the Waihi mine by making unprofitable n large tonnage of the lower-grade ore. In Australia a gold bounty is given on new production; in Now Zealand new producers are penalised. "What is the world coining to, where will lho.se impositions stop? Many renders will agree with us that sound thinking is needed by Cabinet Ministers. These Ministers have been approached in New Zealand, but so far they remain adamant to nil the demands of sound reasoning. Possibly the views of the Waihi shareholders, coupled with the representation of the officials of the Waihi Gold Mining Company, will cause the question to be reconsidered. • "Of all companies deserving special treatment surely Waihi, the largest-gold producer in the country, merits such conuideration, more particularly having re:;iud to the generous action of the company in not claiming their pound of flesh when vhe £212,000 on account of the Hora Hora ■'■•ower Scheme became rightfully due in November, 1925." "