269 



argue this point. It is fully established. The 

 natives of India will not speculate on the security 

 of British rule in India, on any terms that are 

 likely to be offered by Her Majesty's or any other 

 English Government, and this sets the question, in 

 its political bearing, at rest. 



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 represent 

 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 sura, with a promise that no 

 tax should be substituted for this revenue, it would 

 be simply the extinction of an annuity by the pay- 

 ment 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 respon- 

 sibilities likely to accrue to them therefrom, will- 

 ingly 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 deci- 

 sion is usually both just and equitable, and agreeable 



