§ This, said his lordship, I propose to carry at once to 10 per cent. It may seem paradoxical to say, that this mode of increase is preferable to one more gradual, and less alarming to the public. Such, however, is my opinion. A gradual rise would have led to the supposition that this was a fund to be drawn upon to an indefinite extent, but being raised at once to its natural limit, there will be less suspicion of future augmentation. Besides the addition to the rate, I am persuaded that considerable addition may be made to the produce by judicious regulation. That there have been fraud and evasion in the payment, cannot be doubted, and the mode of exemption has furnished the greatest facility to the attempt. But notwithstanding the diminution of the produce through that cause, I should have been sorry to have deprived of exemption those who have a fair claim to it. But, still exemption and relief will be extended to those who most stand in need of it, while the means of evasion will be taken away. The classes most worthy of being considered, with a view to relief, are small tradesmen and small annuitants, in whose favour some provision will be made. It is proposed then that 10 per cent. shall be paid on all property above 50l. a year, but on pro 571 duction of the will or deed, constituting the annuity and demonstrating the claim to exemption, the tax office will be authorised to make repayment. The farther regulation of that part of the plan will come afterwards to be considered, but the object is to reserve the benefit to those classes I have mentioned. The small tradesmen undoubtedly are least the objects of taxation, because they have not the means of adding property to labour, which those possessing property can; and the principle will be to reach, as far as possible, all those who have property. There will be some regulation respecting hospitals and charitable institutions. As one mode of rendering the tax more productive, I am happy to state, that the governors and directors of the bank have agreed to receive the duty on the dividends at the bank. Regulations will be adopted to facilitate the assessment, and to ease the labours of the commissioners. For this purpose it is proposed to empower the commissioners to make an assessment of houses and land for two years, which will save them some trouble, and it is probable that such a mode will be equally satisfactory to all. The sum which this addition will produce is estimated at 5 millions.