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The annual and quarterly revenue returns tell one thing em-

phatically. As a mere question of revenue, it is not worth while to look into the ins and outs of the figures, resulting in such totals as an increase of 283,000/. for the quarter, and something under 450,000/. for the year—an increase of 2 per cent per annum on tho quarter, and 1 per cent on the year; the annual increase of the people being nearly 2 per cent. The revenue, therefore, is about stationary. But during the year, taxes have been taken off to the amount probably of 1,300,000!.; and yet the revenue keeps to its level : the moral taught therefore is, that taxation-reform is a pro- cess quite safe in regard to revenue.

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