THE GOVERNMENT TAXATION POLICY.

New Zealand Herald, Volume XXVIII, Issue 8631, 29 July 1891, Page 5

THE GOVERNMENT TAXATION POLICY.

■■ ' ' m THE ACTION OF CHAMBERS OF COMMERCE. The following telegrams have been received by the president of the Auckland Chamber of Commerce : ; . Christchurch, 27th July.—A special meeting of the Canterbury Chamber of Commerce is called for . Wednesday next, when resolutions will he moved protesting: against the drastic nature of the taxation proposals of the Government. Will you call urgent meeting, and move in same direction I— Wm. Reece, President. Christchurch, 27th July. L. D. Nathan, Esq., Auckland.— propose to move the following ' resolution at the special meeting of the Christchurch Chamber of Commerce, called for Wednesday, to consider the taxation policy of the Government, embodied in the Bill now before the House. Will You move immediately in same direction in your Chamber.' 1. " That in the opinion of this Chamber the drastic proposals contained in the Bill embodying the taxation policy of the Government cannot fail, if carried out, to check further progress and settlement of the colony by destroying trade through the loss of that confidence which is the essential foundation of commerce. 2. By discouraging the introduction of fresh capital into the colony for investment by intending settlers in agricultural, pastoral, and manufacturing industries, as well as by causing cottiers to realise their assets, and remove to other countries. 3. By banks and other financial institutions being practically compelled, through the crushing nature of the graduated scale, to withdraw capital from !New Zealand, and consequently to contract their advances, thus paralysing our pastoral and agricultural industries. 4. By discouraging the establishment of such factories as cannot be carried on with any hope of success except on a large scale, that this Chamber feels assured that these results will be most disastrous to all classes of the community, and be especially felt by wage-earners through the rapid shrinkage of the fields of employment; the Chamber would therefore urge the Government to modify their taxatien proposals in the direction of withdrawing the contemplated restrictions on the agricultural and commercial industries of the country.— (Signed) G. G. Stead. Mr. Young, secretary of the Auckland Chamber has, ,by instructions, replied to those telegrams, stating that a special meeting of the Chamber would be held at half past two p.m. on Thursday, to consider the question of the Government taxation proposals, j