The Taxation of Mines in British Columbia

The expansion of the mining industry, with other industries, of course, is dependent upon a supply of fresh capital from year to year. Mining is a speculative form of investment, though there is a wide range of risk as between indiudual undertakings. All of the leading financial writers, nowadays, agree that expansion is being seriously interfered with by the unprecedented load of taxation Canadians are carrying. Individuals have less for investment and corporations are obliged to defer necessary expenditures in order that the demands of the taxing authorities may be met. Naturally, speculative investments such as mining exploration suffer first. Undoubtedly, a great deal of cash raised by taxes, if left in the hands of individuals and corporations for investment and expansion, would have been far more beneficially used and would have developed the country more than any use made of it by the government, in the way of bonusing new industries, or the undertaking of large schemes of development. Government undertakings of this nature are often entered into without a proper knowledge of cost and probable return. Expert expenditure of the same sums by business men or corporations undoubtedly would generally produce more prosperity for the country as a whole. The absolute necessity for lower taxation is being increasingly known to the public at large, and eventually it is hoped that our governments will see the economic impossibility of continuing the present rate of expenditure. The successful Finance Minister of the near future will not be the one who can borrow the most money.