and justice to the poor residents, who in this case at least form "The vast majority" forbid it. The House rate is a comparatively worsted out, and instead of making property pay more because it already pays much, "a new source" suggests itself as a wise precaution - though involving a radical change of Policy.
It is possible however that the Memorialist may imagine they have disposed of the argument which lies in favor of a stamp duty from the success attending the Singapore Measure.
They scarcely do justice to my reasoning for I advocate a Stamp duty, being the fairest to all parties residing here or not. I could not say that abstractedly it is the most equitable base, and I merely take advantage of it now, from the analogy subsisting between this place and Singapore. They emphatically deny the existence of any such analogy, because at Singapore, they say, the Chinese are not so migrating as they have here, and because they have a place to go to where labour is not wasted. Now I never supposed that the analogy between Hongkong and any other place mathematically exists, or that Singapore was
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