54 



To the further and great extent of this last menliuned 

 sum, 18,750,000/. also, would duties or duties and taxes, 

 in the case supposed, of the adoption of the plan for the 

 liquidation of the Public Debt, be remitted, from the same 

 5th of January, and ih\s further relief would consequently 

 equally precede all demand in respect of the liquidation 

 of the Debt. That 5um would no longer be required by 

 the onerous and destructive mode of levy by duties, and 

 the remission of duties or duties and taxes, to the extent 

 of these combined sums, approaching to or exceeding 

 thirty milliom per annum, combined with the assurance of 

 further and final relief from the burthen of the Public 

 Debt, could not fail to give spirit and vigor and power 

 to the country, and would well prepare, dispose and 

 enable it to bear the demand of the contribution to be 

 required in respect of property. 



Contributors in respect oi property ^ would divide them- 

 selves into two classes — 



Contributors who would pay the principal sum required 

 of them.' 



Contributors who would elect to pay the interest of 5 



' This class could not fail to be very extensive; all persons 

 possessing Government Stock and also other property, would cancel 

 stock in the proportion necessary to the relief of that pther property 

 from the assessment thereon. A landholder having one million 

 value in land, would, in such respect, be assessed 150,000/. Having 

 also 300,000/. 5 per cent, stock, the Government vpould cancel 

 45,000/. stock, in respect of the assessment on stock, and he would him- 

 self {\n preference to paying 5 per cent, per annum on the assess- 

 ment of 150,000/. J cancel 150,000/. more of the stock; — by which 

 means he would, in great measure, effect the deliverance of his land 

 from the destructive effect of the present system of finance, re- 

 sprving his right to 105,000/. stock, the amount of which he 

 would receive in the progress of the liquidation of the public 

 idebt. 



