I ' (By*an Ota Settlor.) Jfj ■' PRINCIPLES '•*_> ISSUE. In this article we shall revert to prin ciples of taxation as supported by tho Colonial Treasurer in .order to/show where we are at issne. Major -Atkinson'' holds, lst:*^_hat a pro perty tax (meaning ,a .tax on capital) has the merit of catching-classes which could not.be .otherwise, reached. 2nd. Further, he states that property^hould contribute jdirectl^tothe burdens of the State, whether productive orlinpreductiver'-iir'respect to amounts. • 3rd/*And )he difidtsi. mankind into energetic and lazy. l The first principle is weak in the essential ground that the merit cluimed has no exis tence; It, on the contrary, should properly be designated a class and special^ ax on two orders of the commonweal t **£_ land and Droperty-owners whose joint income in New Zesflatfd' amounts to £>J mUlions sterl ing per annuls, from which the -pro-fas*

fHES?SOUTHLA^JD TIMES, SATUEDAY, APEIL 2,^XWK



Spirits .6'- 4 3 Sugar ... 30 11 5 .Sundries ... 12 8 8



Special. £$[/% TT. 4fijffa undei^igned^tnake liberal Advances on s grow'ing'Clips.and'on'consignments of Wool placed in their hands for sale locaUy, or or- shipment to Lcndcn. CARSWELL WHITE & CO. THE SCOTTISH AND ?NEW ZEA LAND INVESTME NT r GO?. PiitY (Limited)/ " *' CAPITAL....' -fesoo,oov/c • This Company is prepared to make ad- vances to farmers and others on freehold or. leasehold properties at the lowest cuirent rates of interest, and to arrange for repay- ments byinstalments, ii desired, - < Fcrms of application and every information tnay be obtained at the. Company^ offices, Esk treet, InvercargiU. - - • JAMBS HARVEY, „ - Manager j rpiE UNIVERSAL MARINE A INSURANCE COMPANY I ' (Limited.) I Registered asH Inc6rp<&rated'lS6o. , :•: -""Head'Officef-^S ' Cornhillv London^ Chairman — -£'Sn£ tjoSS '■: :I_tIBBOCK, BART. ySsSLyjA'LL::±7-~--L LL IA < ■/. SUBSCRIBED CAPITAL .. £1,000,000, Risks taken'at lowest -cuixenfc rates/ Claims payableinlnvereargiU, London', New >. York- orauy of. the numerous agencies. MURRAY, DALGLIESH & CO., Agents f or Tin vereargill aiid -Southland. COLONIAL INVESTMENT ,;,; -j , AND AGENCY COMPANY OF NEW ZEALAND (Limited), Capital £500,000. head Office ... Edinburgh. Head Colonial Office, Dunedin Money advanced on approved securities al current rates. Having a valuator residing in Southland applicants for loans can have tbeir securitiei examined aud reported on for a moderate fee and without loss of time. T. T. RITCHIE, Colonial Manager. Water street, Dunedin. 