Lake Wakatip Mail. QUEENSTOWN, FRIDAY, AUGUST 20, 1897.

Lake Wakatip Mail, Issue 2170, 20 August 1897, Page 2

Lake Wakatip Mail. QUEENSTOWN, FRIDAY, AUGUST 20, 1897.

The Hod. J. 6. Ward took occasion on his recent visit to this district to deliver a political address, of wbicb a brief report appears in another column. Naturally enough the honorable gentleman is loyal to his old colleagues who have stuck to" him through all his troubles, and he could hardly do less than express high approval of their policy, for which he was himself to a great extent directly responsible. He would seem, however, to have somewhat underrated the intelligence and knowledge of his audience when be painted in vivid colours the benefits conferred upon the community by the successive Ministries of Mr Baiaance and Mr Seddon. Some of these alleged benefits are altogether non-existent, and others are at least problematical, whilst credit is taken for improvements in various directions which notoriously have resulted from causes entirely independent of the Government and of Ministerial action or control. So earnest is Mr Ward in his justification of the Seddon Cabinet, that the impression can hardly be avoided that there must be some truth in the rumour prevalent in Wellington, to the effect that at the very earliest opportunity, the honorable gentleman will resume office with his former portfolios of Colonial Treasurer. First, however, the vexed question will have to be settled as to whether he can retain his seat in the House whilst remaiuing an uncertificated bankrupt. Although the words of the Electoral Act are very clear and precise upon the point, lawyers are stated to differ; the " wish being father to the thought" in some instances, and the legal opinions favorable to his' not being disqualified emanating from professional gentlemen conspicuously of the " right color." A solution will not have to be long waited for, since the House will most certainly be called upon to take action in the matter so soon as the elect of Awarau is sworn in and becomes de Jacto a member of the House. Mr Ward referred in detail to important reforms which he declared had been effected by the New Liberals during their six years' tenure of power, and particularly prided himself upon the substitution of the Land and Income tax for the Property tax. The advantages to the colony by this wringing of changes are demonstrably questionable, since the bulk of direct taxation is thus placed on the land which is subject, in addition, to more or less heavy rates for local purposes. It is, moreover, to be noted that property of any other description is, under the present system, absolutely free from taxation otherwise than in respect of the income, if any, derived therefrom. As a matter of fact property of various kinds to the value of many millions of money is absolutely exempt, and there seems to be no valid reason why this should be so. The Income tax again is distinctly a class tax. In order to be equitable there should be no exception whatever, but every income should pay its quota. If the " working man " had to pay a trifle, however small on his wages, he would not be so strong an advocate of this method of raising revenue, and would take a much closer interest in the public expenditure and insist upon stringent economy in the public service. Mr Ward, as a matter of course, was loud in his approbation of the land administration of Mr John M'Kenzie and had much to say about the acquisition of private estates and the scheme of advances to settlers. The Cheviot estate, which he instances as proving the success of this policy, does not happen to have been acquired under it, but was forced upon the colony under the taxation Assessment Act in consequence of the proprietors declining to accept the valuation for tax. The Government decided to purchase at the price named (£260,000), as they were authorised to do, and the heirs of Mr ("Ready Money") Robinson were highly delighted at having a big sum in cash to divide instead of a big tract of pastoral oountry. Cheviot may possibly give promise of eventually proving a profitable settlement, but we are not disposed to accept the very sanguine statements of the late Colonial Treasurer as to the existing conditions. The last returns available are up to March, 1896. As to what has been termed the " cheap money scheme " it is the shibboleth of the party, that the Government Advances has worked out most beneficially, not only in relieving the country settlers, but in the general large reduction of the rates of interest. This is pure assumption and not borne out by the actual facts. As regards the settlers, no benefit that we are aware of, has accrued to those who have good security to offer for advances and who can borrow the money they may require on equally easy terms from the ordinary financial institutions, without being bothered by all sorts of conditions and regulations. The settlers who are pecuniarily embarrassed, as a general rule have no sound security to offer, and under these circumstances obtain no advantage from the Government scheme, In regard to the lowering of the rates of interest and discount which Mr Ward choses to attribute to the Ministry of which he was a member, every one acquainted in only a small degree with the subject, is aware that this has been general throughout the financial world, ana is due to causes altogether outside the Colony. Mr Ward's claim on behalf of the Government remiods one of the old illustration of the fly on the wheel! We shall not refer to that part of the hon. gentleman's address in which, after the fashion of speakers of his party, he abused the Opposition, nor to what he was pleased to say in justification of his own somewhat peouliar position. Nothing he may do can apparently shake the full confidence reposed in bim by his admirers, political and otherwise. We cannot but admire their " simple faith " ; but, as the subject matter of his offences in this respect has so often been animadverted upon of late, no further comment will be made by ng.