THE MORTGAGE TAX.

Wanganui Chronicle, Volume L, Issue 12144, 21 September 1907, Page 5

THE MORTGAGE TAX.

LAND FOR SETTLEMENT

During th© debate in committee today on 'thg. clause 'governing the mortgage tax~in the Land and Income Assessment Bill it was suggested by Mr. Fisher that a clause should be inserted in the Bill providing that on the death o? an owner his estate shall be parcelled out, for, in that way they would have largo properties thiown on the market, she'll as in the case of the late Hon. W. J&hnstori. He averred that in 25 years' time there woujd not be an esttate worth I £-25,000 oh unimproved value in New Zealand- Such a clause- would immortalise the Premier., and no one would dare repeal it. / : ' , ' , • Sir Joseph, Ward1, replied that he was not 'prepared to go into that aspect of the case without serious consideration. First -of all, it was desirous that they should have the land for settlement, policy going on all over the country in a i-easonable way. Secondly, it would be unfair to the aged father of a flamily tc bring into operation a system that would "make it absolutely definite against fais own will that his property must be cut up after his death. That was an aspect of tilie case he Wfukl have to very maturely consider.. Besides, it would be an abrogation oF the very principle contained in this Bill.