BURDEN OF TAXATION.
While, however, much may be accomplished for industry along the lines of reorganization and rational- ization, I am glad that the Chairman of Martins Bank did not fail once more to emphasize the evil effects of the ever-increasing burden of taxation, both Imperial and local. In that respect successive Governments have laid such a burden upon industry that it would probably be fair to say that much of the schemes to relieve industry constitute efforts to undo the harm which extravagance in the national expenditure and heavy taxation have occasioned. No number of remedial schemes, however, compensate for failure to effect economy in our national outlays. Social services, as Mr. Paton pointed out, are wholly admirable in them- selves, but we are spending more than we can afford, and it is time that expenditure both national and municipal was checked; Private persons," he added, who overspend are soon overtaken by retribution and Governments and municipalities are not immune, though the consequences are more remote in their case and less easily discernible for a thine. I feel despondent when I contemplate the enormous outlays of the present day and the apparent absence of any Clisposition to count the cost."
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