W.E.A.

Manawatu Times, Volume XLIII, Issue 1588, 14 June 1920, Page 5

W.E.A.

The economic class of the Workers’ Educational Association has, during the last few weeks, been discussing public finance, the nature of public debts and tire large additions tba have Keen made on account of war expenditure. In Great Britain the total amount is in the vicinity of 8000 millions. New Zealand’s public debt is nearly 200 millions and largely of an unproductive character. Funded and unfunded debts have been considered and the heavy interest charges due to them. Taxation by means of Income Tax, I>and Tax, Death Duties and taxes of an indirect nature through the Customs are the adopted means of revenue to deal with the public debt. The canons and incidence of taxation as proposed by the economists, especially Adam Smith, were, considered at length. New method's of taxation of an emergency character in order to reduce the financial burden now cast on the European nations have received attention. Indirect taxation, that is taxing the people through the customs, has been, until the last three years, the main source of revenue in Now Zealand. Colbert, a French Minister, one* said, • •The art of taxation is the art of plucking the goose so as to get the largest possible amount, of feathers with the least possible amount of squeaking.” The Income Tax afforded the. best illustration of direct taxation which could not bo transferred from flic individual intended to bear the burden. Repudiation of national debts, the tutor pointed out, was a bad example tor tin; State to sot its citizens and would inevitably lead to chaos and defeat the object intended. The burden of taxation within the Slate should be placed on the shoulders of those best able to pay and at all times consistent with the principle of justice. Next Wednesday evening the’ subject to be dealt with will bo ••The rise of the system of banking.” Air Douglas Seymour, M.A.. organiser for W. K.A.. is expected to be present.