HO 



With regard to the advantages in material pro- 

 gress likely to result from the redemption of the 

 land revenue, their value to the State in a financial 

 point of view, is real, only, in so far as they repre- 

 sent ability to bear increased taxation. For instance, 

 if a Government owed 100,000, and were to sell 

 land producing' a revenue equal to the interest it 

 had annually to pay, for that sum, with a promise 

 that no tax should be substituted for this revenue, 

 it would be simply the extinction of an annuity by 

 the payment of its value, the gain to either party 

 being nil. Now taxation in any shape, it will be 

 admitted, is, or is considered to be, a burthen ; but, 

 if taxation be equal, or equitable in its incidence, 

 and if the transaction be a bargain, in which both, 

 or all parties, understanding clearly the advantages 

 and responsibilities likely to accrue to them there- 

 from, willingly acquiesce, many of the objections 

 often raised thereto are avoided. In England, these 

 matters are settled by the people themselves through 

 their deputies in parliament assembled, and as these 

 deputies represent all classes and all interests, the 

 decision is usually both just and equitable, and agree- 

 able to the people. In a country circumstanced like 

 India, however, there are two parties to a trans- 

 action of this kind the Community and the Land- 

 holders ; and the part the King has to perform, is 

 clearly to mediate between these two interests. Now 

 it has been before shown that the land revenue in 

 India is simply the return of that portion of the 



