Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1895-09-20
FOR TREE TRADE.
NEW SOUTH WALES FOR FREER
TRADE THAN ENGLAND.
To Abolish All Glasses of Tarin
Duties But One-Rcvcnue From
81 Land Tax-Australla an Inter
cstinG Economic Study.

NosehFp CtuNys
An editorial on "Free Trade in
Australia" in the New York Evening
Post of July % contains some very in
terestins information about the
economic situation in Australia. II
says in part:
students OF political development
have always found abundant material
in the history of the Australian col
onies. Nowhere has there been a
greater abundance of experimental
legislation, nor better opportunity
to compare its results. The colonies
afford sufficient basis of comparison
in the substantial homogcneity of
their population and in the common
origin of their institutions and their
law. The neighboring colonies of Vic
toria and New South Wales have es.
pccially furnished material for eco
nomic parallels, and the contests be-
tween pr otectionisls and free traders
have nowhere been more spirited or
more continuous. Up to recent date
New South Wales stood upon the
whole for free trade, Victoria for pro-
lection. At present Victoria is reduc.
ing protective duties in drastic man.
ner, while the situation III New South
Wales has become interesting in the
highest degree.
lowing to combination of cir
cumstances which it ie not necessary
10 particularize, the cause of protec.
ton Inns of late years made considera-
bic progress i'll that colony. But
| sl,i. r
nature, and it's chief result APP
pears 10 have been to cause such a
reaction in favor of free trade az
promises to extend that principle
further than it is carried in any coun.
try in the world. Tho budget offered
by Mr.. G. III. Reid, the Premier and
Treasurer Of New South Wales, pro.
posed to abolish Mt once the protective
duties imposed by the late Government
of Sir George Dibbs, and to abolish
gradually, but within six years, all
other customs duties except those on
stimulnnts and narcotics. This in.
volved an immediate loss of revenue
amounting to 1855, 900, which was to
be made good byreducing expenditure
by 1900, 900, by land tax of penny
in The pound, estimated to produce
!cl0O, QUO, and mn income tax of six
pence i'll the pound, which was to
bring in .el0S, 900. Tho bills embody-
ing this scheme were carried triumph
unity through the Legislative Assem-
bly,; but tho upper house threw out
the land and income Tux by an over
whelming majority. Upon the issue
thus raised Mr.. Reid has appealed to
tho country. 1t is encouraging to
hear that MIR. Reid has just defeated
Sir Henry Parkes in Sydney, and
there is good reason to believe that he
will resume Office with an oyerwhelm-
ing majority behind him.
"Tho opposition to Mr.. Reid's
policy comes from several sources.
Just as VIC found it in this country,
Tho sugar industry causes tho most
trouble. The production of sugar has
hitherto boon protected by high
import duty, and the producers have
enjoyed very great profits. They are
united under the leadership of great
refining company, and their influence
appears to be nearly rs formidable ms
that encountered by our revenue re-
formers in last years struggle in the
Senate. There is opposition, too, on
the part of tho extreme advocates OF
land taxation, who think that Mr..
Reid's scheme does not go far enough,
us well rs on tho part of the land
owners, who think 1t goes too far. In
fact. the Tux is very moderate one,
amounting to as much as GI0 only in
The cnso OF about 1000 estates, and if
tho land owners were enlightened
enough, they would consider that the
value of their property would in
crease under free trade as it did in
England.
Opposition has also appeared from
another quarter. The federation OF
the Australian colonies has for some
time engaged the attention of mum.
Der of ambitious politicians, among
whom are to be found some leading
protectionists like Sir George Dibbs.
But it seems to be understood, and is,
in fnct, openly declared, that if free
irade is to prevail in New South
Wales, it will put an end to the fedora.
ton schemes. 1t is very frankly adj
| "ietS't III 'lOtOilu, Wuclo Eli. INolu
budget inns been studied with as much
interest MS in New South Wales, that
if its proposals are adopted Sydney
will become one of the great ports OF
the British Empire. 1t will be the
Srent central market of Australia, and
will draw to itself tho commerce oil
the ports that are hampered with pro-
tcciive duties. 1t is true that the
manufactures of Victoria would OBJ
tain free admission into New South
Wales, but only in competition with
tho free trade prices of the manufac.
lures of the world. Under the baneful
influences OF such increased commerce
as free trade will cause, it. appears to
DO felt that the cnuse of protection
must decline throughout Australia.
The other colonies will be compelled to
throw down their customs barriers I'M,
less they wish to see themselves dis
tanced, and when confronted with the
alternative of protection or prosper.
ity, will, however reluctantly, choose
the latter. This may delay the ,fede
ration OF the Australian colonies, but
1T will hasten their admission to the
federation of the world"