FARMERS' UNION.

Sun (Christchurch), Volume II, Issue 457, 28 July 1915, Page 3

FARMERS' UNION.

ANNUAL CONFERENCE. Press Association. WELLINGTON, July 28, At the Fanners' Union conference remits regarding the disposal of national endowment lands were further discussed. The general opinion favoured the proposal that such lands should be sold for cash or leased, with the option of purchase. The question at issue was as to how the money so raised should be expended so as to increase the value of the endowment. The cohfcrcn.ee eventually agreed to the main proposal, and by 18 to 14 negatived the proposal that moneys arising from the sale of endowment lands be reinvested. 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 value, the conference considers that a much fairer and much simpler way would be to tax on the annual value, with the same exemptions as capital invested in other industries; annual value to be 5 per cent, of capital value." .