The Commercial Depression.

Wairarapa Standard, Volume XX, Issue 2070, 20 May 1887, Page 2

The Commercial Depression.

In opening the proceedings of the quarterly meeting of the Wellington Chamber of Commerce,the President, Mr J. Duthie, said he could not help thinking that the depression was due to the feeling of insecurity which had sprung up in the community, and which prevented people from embarking upon enterprises in which they might invest their capital under other circumstances. In support of this theory he instanced the case of Mr Booth, of Wairarapa, the stoppage of one of whose mills was due to such a cause. The same feeling prevailed in other sections of the business community. The difficulty arose from the threat which had been impending for many years, of an invidious tax upon properties—at one time a laud tax to burst up big estates, at another time a progressive property tax, at another an income tax, ana yet again a land acquisition scheme. Until this period of unrest passed, the state .of affairs could not be expected to improve, for meanwhile the heart was taken out of the country. It would take some time to restore a healthy tone, and until this was brought about all classes must suffer.