of which is to be double, or in any case greatly in excess of the monstrous charges levied by Kruger and his advisers; if the Transvaal is to be saddled with a heavy war debt, then the financial, political, and economic ruin of South Africa in general, and the Transvaal in particular, must follow as an inevitable consequence, and this will happen even should a short respite be given. I have set forth again and again, in the columns of the _Times_ and _Post_, and in the Anglo-African journal I formerly conducted, that apart from the uneconomic and impolitic nature of these suggestions, they are morally unsound. He who calls the tune must pay the piper. The British people, by allowing themselves to be ruled and betrayed by men who persisted in blinding their eyes to the writing on the wall, though there were Daniels in abundance to interpret it to them; by allowing themselves to be served by an army wholly inadequate in numbers, and largely composed of inefficients, are responsible for the cost of a war which never would have taken place had British pro-consuls and colonists on the spot been trusted; their counsel listened to here, and their hands freed and actions upheld yonder. Moreover, all such heroic schemes of taxation in the interest of the British taxpayer, of which Sir David Barbour's report is a type, are based on proleptic statistics of an expansion which after all is problematical, and which in any case will not become solid fact if onerous conditions are imposed upon the Rand in advance of that expansion. The profits from the mines, great as they ought to be if we do not strangle the goose right away, are ephemeral profits--thirty to fifty years will see the last of them. Possibly the high-water mark of production will be reached twenty years hence, and from that time the decline will begin as in the case of the Australian and Californian mines. It is obvious, therefore, that a heavy war debt must press disastrously on the industry during its growth and during its decline. Taxation seems to have been proposed on the basis of the anticipation, as if it were already an accomplished fact, of the most prosperous days possible of attainment by the industry, and in entire obliviousness of the fact that no sooner is the zenith reached than gradual decline, ending in extinction, must supervene. Unjust taxation would be a suicidal policy; it would retard the flow of capital, render all but a few higher-grade mines unprofitable, with the result that the budgets of the new colonies would show deficits year after year. Not only would capital awaiting employment be frightened into other channels, but schemes of federation would remain sterile schemes; and the hope of a prosperous and united South Africa would continue a mere day-dream, impossible of accomplishment.