It appears from a rep ort made by the Finance
Committee of the Metropolitan Board, that the rateable value of London may be taken to be £20,000,000 a year, and that every penny of rating imposed on it yields more than £80,000 a year. At present the rate imposed by the Board is only 40., but it is to be 51d., and will doubtless increase until the discontent of the taxpayers com- pels the Board to resort to indirect taxation, as they already, in fact, do, levying an octroi on coal and corn. The debt of the Board, when their surplus lands are sold, will be about £9,500,000, and it is so easily raised that the last demand of the Board for 21 millions at 3i per cent. was met by tenders of 21 millions: The extreme ease with which the Board raises money is its greatest danger, and the beat argument against releasing it in any way from the control of Parliament. If a popular Board could borrow- as it liked, London would very speedily be in the position of Paris..
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