INCIDENCE OF RATES AND TAXES 127 



effects of the permanent improvements 

 effected by the investments of the past 

 they are reckoned simply as part of the land. 

 Another sentence from the Report may also 

 well be quoted : " It is obvious that anything 

 in the nature of a fixed or permanent charge 

 becomes more onerous as the sum out of 

 which it is paid diminishes in amount. While 

 some of the outgoings which landlords have 

 to bear, such as tithe rent charge and land 

 tax, are capable of some readjustment, they 

 have not generally been reduced in proportion 

 to the net value of the land ; but charges 

 for drainage and repairs are not reduced, 

 however much rent may fall. Leaving out of 

 sight family charges and mortgage interest, 

 which press heavily on so many owners of 

 landed estates, there are very heavy outgoings 

 that cannot be reduced in proportion to the 

 fall in rents." l 



1 P. 29. 



