TOPICAL READING.

Wairarapa Age, Volume XXVIX, Issue 8144, 19 May 1906, Page 4

TOPICAL READING.

The New Zealand Trade Review for May says: ''We have been somewhat surprised that the realisation of the bulk of the season's had not at an earlier date resulted in an increased supply of money on ■ the local market. It can scarcely be doubted that one cause of this feature'is the absorption of spare money by the Poßt-offioe Savings Bank, thedeposit rates of which institution are maintained at the advanced rates adopted on Oeoember Ist, 1901, in spite of the subsequent reduction of rite by all the banks' about a year ago. We are, however, now able to, report that in the open market money is more plentiful; in fact, the supply is ample for all demands. Business is, however, somewhat checked by the 1 high prices ruling for land, a feature which causes lenders, to be very careful and to demand wide margins when making advances. As money is supWabundant in Australia, eleven millions having been added to deposits in the year 1905, and rates consequently low, it is not wonderful than surplus gold should be transferred to London."

The visit of the New Zealand footballteam to this country (writes the Auckland Herald's London correspondent) gave a fillip to emigration to Ne,v Zealand. During the stay of the team in England the number of applications for information with reference to the colony used to number from eighty to one hundred each day. Recently, however, the High Commissioner has issued a circular which has been, free of advertiseuiant charges, published in hundreds of newspapers, with the result that from 200 to 250 letters are received every morning at the London office of the New Zealand' Government, asking for information. In addition to farm labourers and others whom they are bringing out at reduced rate passage,s,provided they can land in New Zealand with not less than. £5, the Government now is also offering tc 1,000 domestio servants, reduced passages, without capital qualification. TTp to the present 200 navvies have been accepted on the same terms for emigration to the colony. Commenting on the recenfcly-pub-lishea reports of distress aaiougst the Maoris owing to the failure of the potato crop, the Christchurch Press says :—"Tbe first thing to be done is for the Government to asoer-, tain from official investigations whether the Maoris need assistance, and if it is found that they do, Mr Seddon might aot on the suggestion that the money intended for the sufferers by the San Francisco earthquake should be devoted to purchasing eating and seed potatoes for the Maoris. We have sent £I,OOO for the relief of the sufferers by the famine in Japan, and charity having been thus begun abroad,may very well be allowed to finish at home. Mr Seddon might also consider whether he oannot place more Maoris on construction work on the Main Trunk Railway. He has already, it is understood, made a beginning in this direction, and, in .view of the short supply of labour and the urgent necessity of pushing forward with the line, he might go fu ther—with advantage both to the oolony and the Maoris concerned. For if the Maori is to be saved from the decadence that threatens him, it will only be by his acceptance of the gospel of work, and if he can be induced by* the pressure of bard times to earn his living by physical labuur, be may oontinue to do so when conditions improve."

la response to a request from the Commissioner of Taxes to borough councils throughout the colony for information as to the effects of land value taxation, and also as to taxation for municipal purposes, the Devonport Borough Council has drawn up na report ou the working of the taxation on unimproved values in the borough. The report

stated that for, sundry reasons no definite or reliable information was obtainable as to the eff«ot taxation on unimproved values of land hud on the building trade. The system bad not tended to reduce rents, owing to continued increase of population and general prosperity; that the incidence of taxation under the system was generally to increase taxation on vacant land and reduce it where improvements were of greater value than the unimproved land; that the system bad not apparently affected land speculation, as it had been exceptionally brisk throughout the colony siaoe the system had been in vogue; and that the Council was of opinion that the question could only be well determined during a period of depression. Discussing the San Francisco mail service, Colonel Burns, of Messrs Burns, Philp, and Co., writes, inter alia, as follows to the Sydney Daily Telegraph:—"l say distinctly that there has been mu«b unnecessary irritation and friction not only with the Oceanic Company, but with all the oversea mail companies running to the Commonwealth. The Ministers themselves have generally assumed a reasonable attitude, and free from all: bias. Commonwealth mail matters, 1 feel sure, should have run more smoothly,,than they have done. I am prepared to undertake tn prove that the interests of Australia demand a less narrow and less irritant demeanour to our great means of oommunciaton with the outer world. In a letter written by Sir Joseph Ward, the Postmas-ter-General of New Zealand, to the Commonwealth Postmaster General, he says. 'The interests ofNewZea land are at present being served by granting, as far as practicable, liberal payments to ocean steamers, and as a matter of reciprocity 1 am prepared to recommend the Government to favourably consider payment of a fixed contribution to the P. and 0. steamers, provided the Commonwealth adopt a similar policy in regard to the San Francisco service.' All along New Zealand has been asking the Commonwealth to deal fairly and openly with mail matters, but this the Common wealth apparently refuses, and the letter I quote from, written twelvemonths baok, was, I believe, never even acknowledged."