584 PROCEEDINGS OF SECTION F. 



saving of time and labour, a far higher vahie than to the 

 latter. 



But apart from considerations such as these, the fact Avhich 

 it appears more especially desirable to bring home to the 

 minds of those interested is this, that, traced to its ultimate 

 incidence, all taxation is paid by the producer who produces 

 more than he requires for his own consumption, and that 

 taxation laid upon the primary instrument of production, 

 land, or on the income derived from land, does not only not 

 ultimately relieve the wage-earning portion of the community, 

 but, on the contrary, must have the opposite effect of diminish- 

 ing the fund from which their wages are paid. It is not, of 

 course, contended that land, or the income from land, should 

 be relieved from taxation. They should bear their fair pro- 

 portion, especially in these Australasian Colonies where so much 

 of the State expenditure is devoted to providing facilities for 

 communication and otherwise enhancing the capabilities of 

 production. All that is desired is to help to dispel, if possible, 

 some of the delusions as to the effects of such taxation which 

 are encouraged, sometimes perhaps in good faith, but some- 

 times wilfully, and always mischievously. 



These remarks are made by way of introducing to wider 

 notice than perhaps it would otherwise obtain, a paper by 

 Mr. Prideaux Selby, read by him some three years ago before 

 the Institute of Bankers, London. The paper in itself will 

 I believe be found to be an ample justification for my submit- 

 ting it, in preference to any original production of my own, 

 for your consideration. Before proceeding, however, I desire 

 to guard myself by saying that while Mr. Selby 's paper 

 commends itself to me in the main as enforcing the views 

 which I desire to have elucidated, yet there are a few pro- 

 positions and some minor portions of the argument in which 

 I do not altogether concur. But these do not affect the 

 general conclusions. 



Omitting some introductory remarks, Mr. Selby 's paper 

 may be summarised as follows : — 



Man's progress, beyond merely animal existence, depends 

 upon the extent to which he develops in his actions the 

 qualities of industry, forethought, and thrift, and so soon as 

 some recognise and act on this principle, while others do not, 

 the distinction arises between rich and poor. The next stage 

 in progress involves the principle^of taxation; for the rich or 

 thrifty man finding his own strength insufficient to defend his 

 property from his less provident fellows, with a part of his 



