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worth considering has been offered in lieu of a Stamp Duty.

I cannot however concede that because we have ... unwise AND ... might be made the reason is

17. I may ... of such a power sufficient surely shown for declining to use it at all; nor do I ... be the ... regarded ... why a stamp duty should ... as more liable to abuse by Government than other modes of taxation.

On the contrary, it admits of ready adjustment to the requirements and special circumstances of the place.

16.

It is ... any ... oh ... taxation. quite clear however, and is indeed admitted on all sides, that an Revenue must be speedily increased, and. I think, with the arguments on both sides placed so fully before Your Lordship in the accompanying printed documents, See enclosure ... fail to show that ... scheme ... Ave 3.

I add that such topics as the injury to business, and threatened abandonment of Hongkong as a principal Dépôt of these seas, in consequence of the proposed very light duty of about or nearly on its business transactions - adverted to in some speeches at a Public meeting, and dilated on in one of the Newspapers here, are justly ridiculed by the principal Firms. That is not the danger which they feel in the proposed tariff, but they dread its extension hereafter.

I attach slight weight to

18.

an argument which would reject a principle, sound and useful in itself, because it ...

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