FARMERS' UNION.

Lyttelton Times, Volume CXVI, Issue 16921, 29 July 1915, Page 10

FARMERS' UNION.

THE GENERAL CONFERENCE.

[Per Riiess Assocutiox.] WELLINGTON, July 28. At tlio Farmers' Union Conference remits regard ng the disposal of naticral endowment lands were further discussed. General opiniou favoured the proposal that such lands should bo sold for cash or leased with the option to purchase. The question at issue was as to how the monej so raiied should be expended so as to increase the value of the endowment.

The conference eventually agreed to the; ma.;ii proposal and by is to 14 ff&gatived a pronosa'l that moneys .'(rising from the sale of" endowment lands shculd be re'nvested.

The conference resolved—" That as the present system of valuing, land for taxation purposes has proved a complete failure owing to the impossibility of accurately separating the improved from the unimproved vaiue, the conference considers that a much fairer and much simpler wav would be to put a tax on the annual value with the eame exemptions as capital invested in other mJustrles,' the annual value to be 5 per cent of the capital value.''