Not only had political independence gone beyond the chance of recovery by either force or argument but material independence had followed it. The trade, commerce and industries of Ireland which had flourished during its brief period of independence had dwindled since the Union and from causes for which the Union was directly responsible. The "equitable proportion" of Imperial taxation to which the taxes of Ireland had been restricted by the terms of the Act of Union had proved to be inequitable, so that Ireland was overtaxed to the extent of two-and-three-quarter millions of pounds per annum: new taxes in defiance of the Act had been imposed: Ireland, again in defiance of the Act, had been made jointly responsible for a debt which was not her own: Irish banks and Irish railways were managed not with reference to Irish interests but in the interests of English finance and English trade: the Irish mercantile marine was no more: the mineral resources of the country in coal and iron remained undeveloped lest their development might act unfavourably upon vested interests in Great Britain. The population had declined at a rate without parallel in Europe: even Ulster, proclaimed to be prosperous because Protestant and Unionist, had seen the population of its most "loyal" counties almost halved in the space of seventy years. Nothing but the removal of the cause could arrest this spreading decay, and the cause was declared to be irremovable: to tamper with it was to lay an impious hand upon the Ark of a grim Covenant.