§ I further propose two increases in the existing stamp duties. Companies' capital duty is now 2s. per £100. or ½ per cent. In these days, when everybody, from a peer downwards, converts himself into a company, I think the State may well derive a little more profit from the transaction. I do not think for a moment that my proposed increase will be any bar to a legitimate enterprise, 1023 although I rather hope that it may tend to check over-capitalisation, and put some obstacles in the path of the impecunious promoter. There is one more small proposal I have to make in regard to stamp duties. Letters of allotment and of renunciation are now to be stamped with a 1d. stamp, and I propose that in future they shall bear a 6d. stamp, because they are contracts which are, or ought to be, profitable to the allottee. The total yield which I expect this year from these new and increased stamp duties is £450,000, because, as the Committee are aware, some of them will not come into force until the Finance Bill passes into law.