Poetry Bay Herald AND East Coast News Letter. PUBLISHED EVERY EVENING. FRIDAY, MARCH 7, 1879.

Poverty Bay Herald, Volume VI, Issue VI, 7 March 1879, Page 2

Poetry Bay Herald AND East Coast News Letter. PUBLISHED EVERY EVENING. FRIDAY, MARCH 7, 1879.

We notice that m towns of the colony m both Islands trade protection societies are being established for the mutual interests of men en* gaged m businesses, and who are constantly being made the victims of fraud. We know quite sufficient to lead us to hope that such a society will be established m Gisborne. A tradesman as a general thing, cannot afford to prosecute a fradulent debtor, who, if the machinery of the law was put m motion, would certainly meet with the punishment he so richly deserves. A man earning some three pounds a week, less or more, under false representations and wilful misstatements, gets into the books of one tradesman after another, until he runs Tip a debt of a hundred or a hundred and fifty pounds, when he coolly and unconcernedly goes to a lawyer, and instructs him to file his schedule ; or he places himself m the hands of some agent who he instructs to effect a compromise with his creditors, by an offer of half-a-crown or three shillings m the pound. The debtor makes it pretty clear, that if extreme proceedings are taken, the creditors will get nothing, and that it will be better for them to take the bare remnant of what remains y and creditors, not knowing how they should proceed to bring the man before the proper tribunals of justice, invariably accede to any offer that is made. Now, a trade protection society, with a competent secretary, would be the means of preventing a perpetuation of these rascalities. We have from time to time examined the accounts of several of these defaulting debtors, and we find that three fourths of the liabilities which have been catalogued are for luxuries m food, furniture, drink and dress, which could very well have have been dispensed with. In large estates, with big assets, a bankrupt's affairs are carefully enquired into and adjusted ; but it is m small insolvencies where so much recklessness and dishonesty are seen. Where one man " goes" for a thousand pounds or upwards there are scores turn bankrupts, or compound with their creditors, or compromise m some way or other, for sums ranging from less. than fifty to a hundred and fifty pounds. By this system being permitted to be carried on unchecked, tradesmen are simply robbed m detail, and are gradually becoming improverished. The members of a Trade Protection Society, were one established here, would come to some common agreement as to giving and withholding credit ; and where fraud could be proved, the funds of such an association would be employed to bring offenders to answer for their acts of dishonesty. Once if seen that the smallest debtor, will be prosecuted as the law directs, and due punishment meted out to him, there would be an end to the host of swindles which occur day by day m our midst. Obtaining goods or money under false pretences is a crime which the law recognizes, and severely punishes. Probably m the cases of more than one-half of defaulting debtors, it could be proved that he had obtained goods under gross misrepresentation and wicked concoction. Then, we say, let the traders and dealers of Gisborne unite, and form themselves into an association for their mutual protection. In their own interests, it would pay, and m the cause of morality, it becomes a duty. The inside of a jail, and being taught stone-breaking, is what should be the fate of the reckless and dishonest class of men to which our remarks are intended to apply.

The next session of Parliament will show something of the working of the Land Tax Act, and the probable revenue to be derived from it. Nearly all the valuers under the Land Tax Act have completed their labors, and ere long the valuation lists will be submitted for inspection by the public. When this has been done people will have an opportunity of asceitaining the nature and extent of the work done since the Ist of January, and the value of the information that has been gathered. The assessment of every property m the Colony was a great undertaking, and the number of valuers employed has been made the foundation for ironical paragraphs by some writers. In addition to ascertaining the value of each property, less improvements, the valuers have obtained a vast fund of information as to improvements, and returns will be compiled showing the present worth of buildings, fences, and other works m each County or Borough throughout New Zealand. Such statistics should prove of immense advantage to our legislators m regard to the disposal of the public lands m future. When proposed amendments of the land laws are before Parliament authentic records as to the extent of large estates, their gross market price, and the sums that have been expended upon them m improvements, will afford facts impassible to be disregarded by our legislators. From time to time, both during the debates m Parliament on the Land Tax Bill and since, many and varied guesses have been hazarded as to the amount the tax would yield for the year 1879, and up to the present time precise figures have not been obtainable, but calculations made indicate that the Colonial Treasurer's estimate of £100,000 will be fully realised. The other day it was telegraphed that the estates of one landowner m Southland had been assessed at £150,000 after deducting improvements. Here the fortunate proprietor would contribute something over £300 a year, a mere trifle when weighed against the enormously increased value given to his land by the general prosperity, caused by the public works that have been executed by the Colony since 1870.