Houses and buildings of all kinds, including those used for manufacturing purposes, were to be estimated at fifteen years rental, horses and other farming stock at full value. Debts might be deducted from the personal estate if the "Committee shall think the same best". The committee were given power to examine on oath and to send for papers and records. If any person refused to testify or give an account of his estate, he was to be taxed two fold in the next colony rate. No colony tax was to be levied until the valuation was made and approved, when it was to be the standard for the apportionment of taxes until a new estimate was taken. A protest was entered signed by eight members asserting that twenty years purchase was an over valuation of land, while fifteen years purchase was no higher than, if indeed it was so high as, the real value of houses and buildings, and that unimproved land as it yielded no profit, should not be taxed. Land holders, it was claimed, would bear a much larger share of the public burdens than in justice they ought in proportion to the merchants and traders. The report of the committee as at first presented was subjected to careful re-examination and correction. The final result was reported and accepted in February, 1769, and the estimate was declared to be "the Law and Rule for future Taxation." The estimate as adopted contained the following items: Acres of woodland 241,685-3/4 Value of woodland £236,946-5-6 Rent at 20 and 15 years 1,356,830-16 Sum total of ratables of each town 517,578-9-1 ------------- Total 2,111,356-0-7 Polls 8,952. Protests against apportionments under the estimate were few. From October, 1774, to March, 1777, no tax was levied. When it was found necessary to resume taxation a committee was appointed to consider the changes which had occurred in each town since 1769, and agree upon a new basis of apportionment. The committee completed its work in one day, and made a report containing an estimate which was accepted as a temporary standard. The total valuation of the new estimate was only a few pounds greater than that of eight years before. The island towns, then in possession of the enemy, were relieved at the expense of the main land, the most important change being the removal of £100,000 from the valuation of Newport and the placing of it on Providence, increasing the valuation of the latter town by nearly eighty per cent. Providence, in its desire to further the resumption of taxation, accepted this large addition, but only on condition that it should not become a precedent. The General Assembly however showed no desire to take a new estimate and continued to apportion taxes in accordance with the estimate of March, 1777.