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SALE CF THE LANDoráx.

- *-----. . . . . R. Pitt's Plan for the SALE of the Land-Tax, will probably be brought forward in the course of the present week: we have taken some pains to inform ourselves upon the subject, and the following short

Statement of it we believe to be correct. The amount of the Land-Tax is 2,000,000l. per annum—if the whole of it were sold at twenty years purchase, and the produce invested in a 3 per cent. Stock at 50, it would yield 80,000,000l. affording an Interest of 2,400,000l. and leaving a clear gain to the Revenue of

400,000l. per annum.

This appears to us the plainest view of the measure which is proposed-considering the present price of 3 per cents. at 5o; but for every variation of 23 per cent. in vol., 11. * * o the

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the price of this Stock, there is to be a corresponding
variation of one year’s purchase in the price of the Tax.
—If, for instance, the price of the 3 per cents. should be
52, twenty-one years purchase will be required for the
Tax. This scale of variation will bring the value of the
Tax up to thirty years purchase, when the price of 3 per
cents. is 75.
To simplify the operation, it has also been suggested,
that the purchase should in all cases be made in Stock, not-
in Money. -
It will be seen at first view, how very beneficial an
offer this Plan holds out to the Purchasers of this Tax–
at twenty years purchase, the price corresponding with 3
per cents, at 50, it is investing money on a Landed Se-
curity at an Interest of 5 per cent. ; and if a Gentleman
of Landed Property is not able to raise the sum necessary
for the purchase p£his Tax, without selling a part of his
Land for thät fürpose, he willistià find the operation
extremely advantageous::::If:# possesses an Estate of
Ioool. per annußposit ; a Länd-Tax of 5ol, he can
sell 50l. of his Reātīoość... or 1500l. (from 28 to
30 years purchase); he buys his Tax at 20 years pur-
chase for Ioool. 3 and he thus clears 4ool. or 5ool. A
proportional advantage will arise from selling Land, even
at its present value, for the purchase of the Tax, until the
3 per cents. rise to 75, which, upon the proposed varia-
tion, according to the price of 3 per cents. is equal to 3o
years purchase.
We think it a very judicious part of the Plan, that it
gives great facility to Proprietors of Land to become the
Purchasers of their own Tax: with this view, the Pro-
prietor in the first instance is to have the opportunity of
Pre-emption, as the Land-Tax arising from any particu-
lar

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