Mines And Minerals of the British Empire: Being a Description of the ...
Mines And Minerals of the British Empire: Being a Description of the ...
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In November, 1907, however, the stone was acquired by arrange* ment, and presented to the King by the Transvaal Government.
The ' Cullinan '—the true * Star of South Africa '—will hence- forward rest among the Crown jewels in the Tower of London.
25. The influence of the Premier mine upon the welfare of the Transvaal, direct and indirect, has manifested itself in several ways. An exacting system of taxation deprives the company of 60 per cent, of its profits — ^a burden on mineral production wi...thout parallel elsewhere in the world. The profit taxes on diamond mines in the leading colonies of South Africa are : Cape Colony, 10 per cent, (till 1907, 5 per cent.) ; Orange Biver Colony, 40 per cent. ; and Transvaal, 60 per cent. A director of the Premier Company, commenting upon these comparisons, once remarked that the statesmanship responsible appeared to be guided by latitude. * Would it surprise you,' he facetiously added, ' if on the discovery of a mine nearer the Equator, the owners had to pay over the total profit plus 5 per cent, for administration T The profit tax is the most direct means by which the State has benefited, but more significant are the great distributions made in wages to white and coloured employees, in payment for stores ob- tained from local merchants and farmers, in support of the coal- mines and railways, and the dazzling instance ithasprovidedof the country's mineral wealth.
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You can find similar books in the "Read Also" column, or choose other free books by Ralph S G Stokes to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In November, 1907, however, the stone was acquired by arrange* ment, and presented to the King by the Transvaal Government.
The ' Cullinan '—the true * Star of South Africa '—will hence- forward rest among the Crown jewels in the Tower of London.
25. The influence of the Premier mine upon the welfare of the Transvaal, direct and indirect, has manifested itself in several ways. An exacting system of taxation deprives the company of 60 per cent, of its profits — ^a burden on mineral production wi...thout parallel elsewhere in the world. The profit taxes on diamond mines in the leading colonies of South Africa are : Cape Colony, 10 per cent, (till 1907, 5 per cent.) ; Orange Biver Colony, 40 per cent. ; and Transvaal, 60 per cent. A director of the Premier Company, commenting upon these comparisons, once remarked that the statesmanship responsible appeared to be guided by latitude. * Would it surprise you,' he facetiously added, ' if on the discovery of a mine nearer the Equator, the owners had to pay over the total profit plus 5 per cent, for administration T The profit tax is the most direct means by which the State has benefited, but more significant are the great distributions made in wages to white and coloured employees, in payment for stores ob- tained from local merchants and farmers, in support of the coal- mines and railways, and the dazzling instance ithasprovidedof the country's mineral wealth.
What to read after Mines And Minerals of the British Empire: Being a Description of the ...?
You can find similar books in the "Read Also" column, or choose other free books by Ralph S G Stokes to read onlineMoreLess
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