30 RATES AND TAXES 



that economy as well as equity must be 

 considered. 



Finally, altogether apart from the general 

 principles that ought to be observed alike 

 in taxation and in expenditure, regard 

 must be paid, not only to existing insti- 

 tutions, but also to the historical con- 

 ditions under which they arose. And this 

 is specially true of this country; alike in 

 government, in taxation, and in expenditure 

 we have to take the growth and history into 

 consideration. 



It is true that there is no prescription of 

 institutions, and indeed, under the bias of 

 the theory of evolution we might almost 

 say that the presumption in favour of old 

 institutions has been reversed, and this 

 generation is inclined to argue that what 

 was suitable under the simpler conditions 

 of old times, is not suited to the changed 

 conditions in which we live. All this may 



