THE BALLANCE POLICY.

Timaru Herald, Volume LIII, Issue 5194, 15 July 1891, Page 3

THE BALLANCE POLICY.

An showing the opinions of loading nowspapers m Australia on tho financial proposals of the Government, wo extract the following article from tho Australasian of June 27th : — Politicians bringing m a tux which is to boi-vo two purposes — to raise rovenue and to penalioo enterprising citizon?for boing too successful — involve themselves m contradictions which thay protend not; to seo. Mr Ballancn, tho Now Zealand Treasurer, proposes a land nnd income tux to tako tlio placo of Iho propertytax. The changn mity bo nound us woll as dcoirablo. nnd all that is noeosßiiry to noliuo m tho two edged character of the scheme. Ko startH with tho axiom that, tho wise legislator regards tho nnlurul valuo of laud, irroßpoctivo of impravoincntß, as tho right tiling to lax. But evidently tho maxim is not sound, for it only holds good with politicians up to a certain pninfc. The old way of accounting for tho fact that water roso m a pump, on Iho air being withdrawn, was to Buy "nature uhhors a vacuum," but when it wna found that tho wator could not bo mado to riso highor than 33ft, tho words woro added, " but abhors it only up to 33ft." Mr Ballanco alUrm? it. to ho good m n landowner to improvo up to a limit of £3000, but whatovor ho lays out abovo that amount is bad, and Iho moro ho lays out tho hoavior is to bo tho rale of tbo tax imposed upon him. Tho graduated seaio is supposed to bo aimod nt lurgo psfratos, but ns his schomo says nothing nfaoul aopoago, the man who spnndo lisraoly on a small estate compopod of good noil miy really havo to pay far heavier tiixution than tho owner who allows a vast cxtonfc of land to lio wailo. Tlub ib how tho now Government m Now Zonlund proposes to or.courngo tho most indußLrioiiH oitizenß to onrry out tho bohosf to bo fruitful and to multiply and replenish Ihn earth. A upoctator looking down upon the, country from tho cloudn or thn Bumtnit of Mount Cook, and seeing how Jit.tln tbe jand yot produnoM, compared with [what ft niny ot product), might oxpoctloj

hear tho freefpendiiiß grazier und agriculturist applauded by tho Legislature, but he would ho disappointed. In New Zealand, at present, the agriculturist or the grazier who goes m for high cultivation awakens tho envy of the inhabitants of the towns, and the national handicapper is called upon to weigh him down. By this policy it is hoped to make tho great bulk of the people happy and oontonted — happy and contented because undue success, evon if ifc should bo tho reoult of natural ability, onergy, and such like estimable but not too common qualities, is displeasing to the popular eyo. In procoßß of time, if tho theory of the Government which is now m fashion obtains full play, thoro will he no such thing as first and second class carriages m a Now Zealand railway train, or Buch distinctions as dress circle and stalls and pit at the theatre 'The Americana set out with a similar idea. I All trains were of ono cla^s — first class — until Pullman invented his drawing-room car, but if an American first, (nnd only) class car wero placed on our railway lines tho people would consider them vory bad third. Mr Ballanco's scheme will not put an end lo improvements, nor, (though it is aimed at that too) prevent; capitalists from lending money on land, but it ia to bo occopted by tho world as notice that people of means haviog a desire to invest (either directly or through companies) m New Zaaland, on a large scale, urn, to use tho words of Phinoas m " Uncle Tom's Cabin," " not wanted horo." It ia singular tint while every nation or colony glories m producing statistics showing how weolth is uceumulatiDg m its midst, a young and growing community should, when tbe caso of tho individual is dealt with, view his good fortune as detrimental to the public weal. Who would imagine thnt tho high cultivation which prevails m the Oamaru district waa considered a drag on the progress of Now Zealand because tho work originated with tho curly colonists btforo the agitators of to-day were ia thoir nwadoiling clothes ?