“Very needful precautions, I should think, considering how strong is the temptation to concealment and fraud, and how very easy evasion must be in a great number of cases. Very necessary precautions, if they could but be effectual.” “Effectual, sir! Do you suppose we shall violate our oath of secrecy?” “By no means; but it is impossible that confidence should not often be reciprocally shaken, when the affairs of individuals are thus involuntarily exposed. This inquisition is a heavy grievance, indeed, and it opens the door to a very pernicious use of influence.” “Well, sir, every tax must have its disadvantages; and when a large revenue must be raised——” “True; every tax is bad, in one way or another; yet, taxes there must be. I do not know that there can be a better than an income tax, if it can be fairly raised, and duly proportioned to the tenure of incomes. If I find myself soon in possession of an income, I shall offer my proportion with pleasure; you will not need to impose the oath on me. But I do wish, as this tax affords the means, as you say, of raising a large revenue,—I do wish that we were relieved of some of our indirect taxes. An income tax may be very cheerfully borne when it is imposed instead of the indirect taxes which fall so unequally as we know they do; but the same tax may be felt as a heavy grievance when it is imposed in addition,—filling up the measure of hardship. Now, we have a load of partial taxes which can be conveniently paid; and also a fair tax,—fair in principle,—which must be vexatiously levied. Let us have the one or the other, but not both.” “But, Mr. Farrer, you are aware that the evils of this income tax will be lessened perpetually. We are now just in the bustle and confusion of making new returns; but when we can establish a system of ascertainment of the wages of various employments, and the interests upon loans, and the averages of capital invested by the commercial men in our districts,—in somewhat the same manner as we can already learn the rental of landlords from the terms of their leases, and the profits of the tenants from the proportion profits are considered to bear to rent,— when this is arranged, there will be much less occasion for vexatious questioning.”