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cause the rent-tax percentage to be regarded
in fact if not in theory as levied solely for
the purpose of the military contribution and not
as part of the Colony's general taxation system.
With the best will in the world the Colonial
Government might well find the pressure in favour
of low valuation to be irresistible.
(4) The Treasury is in entire agreement with
the argument of the War Office that the 20%
figure
has always been related to a particular
interpretation of "revenue" and that the figure
would require to be greatly increased if exemptions
on the scale indicated were made.