8. are the loss which must inevitably be sustained by Government of a part of its already very limited Revenue, and the difficulty that exists of making any arrangement which would be considered an advantage by the Land holders themselves, and equitable to the Public generally.
8. The only practical plan that has been suggested to me to remedy the evil, is a general reduction of rates of from 20 to 25 per cent throughout the whole Colony; but it appears to me that this would not afford relief where it is most required; that a reduction in the rates is necessary, I would respectfully suggest that a Committee should be appointed to examine and report on the state of the landed tenure of the Colony generally, as well as each individual case in which it might be enabled to show that a reduction of rent was imperatively called for; and that on this Report such relief should be granted to the present holders as might appear to Your Lordship proper and desirable, and a new rate also fixed for the rent of land which is at present available to the Government.
I observe, my Lord, that in the evidence given before the Select Committee of the House of Commons last year, it is held that a reduction of Land-rent would not eventually cause a deficit in the Revenue, as I am confident that the other sources of local income would increase to some extent; though I am by no means so confident as to be free from much doubt whether they would increase to any extent.
9. reduction say of 20 per Cent being, in many instances, absolutely unnecessary, while in others, where proprietors have purchased land at an absurdly exorbitant rate, this amount of reduction would not be deemed sufficient: If, therefore, Your Lordships should, on further consideration, be disposed to admit