55 



per cent., upon the snms assessed upon them, respectively 

 in lieu of paying the principal sum. 



In respect of the first class, the relief of the country 

 would be full, final and effectual; an equal amount of stock 

 would by means of such contribution be extinguished, and 

 no provision for the payment of future dividends on such 

 stock, would be required. 



Contributors who should elect to pay interest in lieu of 

 paying the principal sum assessed, give occasion to some 

 care and arrangement, but do not present any difficulty. 



They allow the proportion of the PubHc Debtor Stock 

 to be liquidated by them, to remain undischarged, and 

 a sum equal to the dividend upon such stock must 

 therefore be provided ; the duties which were imposed 

 for that purpose are remitted to the country, and to 

 enable the Government to pay such (Hvidends recourse 

 must be had to the interest to be paid by them. The 

 position does not involve any (fifficulty : before the 

 first half-yearly payment of interest could becom.e due, 

 the contributors would have found more than commensu- 

 rate relief in the general remission of duties and the im- 

 proved state of the country ; and if, as must be supposed, 

 the collection could not be made in sujjicicnt lime for the 

 payment of the half-yearly dividends, an issue of Exchequer 

 Bills in anticipation of such receipt, would enable the Go- 

 vernment to act temperately, considerately and feelingly, in 

 the collection of the contribution, and under the circum- 

 stances 8up|)osed, would not be unwelcome to the monied 

 part of the community. 'J'he relief would, as matter of 

 course, precede the dcinnud, and in addition, any reasonable 

 extension of time for the payment of the contributions 

 might with facility be accorded, where required. 



