South Africa and its future . a vastly superior economic condition than it ever was,but has been placed in a position to sustain, not without some diffi-culty maybe at the outset, all the prospective burdens of projectedImperial taxation. In saying not without difficulty, the crux ofthe present economic situation, as looked at by the leading andresponsible section of the mining industry and competent individualsat large, is touched. For the judiciousness or otherwise of the 86 The Future of the Mining Industry immediately heavy incidence of the share of the cost of the war,which it may be cont
South Africa and its future . a vastly superior economic condition than it ever was,but has been placed in a position to sustain, not without some diffi-culty maybe at the outset, all the prospective burdens of projectedImperial taxation. In saying not without difficulty, the crux ofthe present economic situation, as looked at by the leading andresponsible section of the mining industry and competent individualsat large, is touched. For the judiciousness or otherwise of the 86 The Future of the Mining Industry immediately heavy incidence of the share of the cost of the war,which it may be contemplated to place on the Transvaal, is whatcauses the present misgivings ; and, with the operative capacityof 1898 still some ten to fifteen months ahead, the immediatecall for heavy contributions can only act as a drag upon is with this consideration in view that the Chamber of Mines,in a recent letter to Lord Milner, asked for a delay of five yearsbefore making a first payment, in order to allow time for the in-. Prospecting for Gold : Panning a Sample dustry to recover its former level, and that other authorities have alsoentered their protests. The inference that an immediate and heavy increase of taxationis to be made to meet the war debt obligations may possibly begratuitous, and probabilities confirm this supposition, for it is atissue with the Government experts special this point of view, Sir David Barbours observations areworth reciting for their direct bearing. He says : The soundpolicy for the Transvaal is to so frame its system of taxation asnot to increase unnecessarily the initial capital expenditure, orenhance the cost of working. I shall take it for granted that it 87 South Africa and its Future is not intended to impose excessive or crushing taxation on eitherof the Colonies, or to exact such a share of their revenue aswould cripple or starve the Administration. Subject to theseconsiderations. I shall assume that any surplus of
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Keywords: ., bookauthorargylljo, bookcentury1900, bookdecade1900, bookyear1903
