83O THE ECONOMIC JOURNAL whole of the permanent element arising from the expenditure of a community goes to increase the value of the land, and that therefore ground values ought to bear their share of all civil burdens. He is of opinion that the proportion of rating that should fall on the land value, and on the building value after separate assessment, should be settled first by Act of Parliament, and that in cases when the building and land together have a lower rental value than the value of the land alone, the land should be taxed at its fnll value, because it is permanent. Other witnesses expressed opinions adverse to the proposals for the taxation of ground-rents, Mr. Howard Martin stating that the saleability of ground-rents has d?minished in consequence of the fear that they may be prejudiced by futnre legislation. Mr. Beken also gave evidence to the effect that ground-rents are largely purchased as an investment by tradesmen, professional men, trustees, benefit societies, insurance companies, &c., on the faith of their absolute security, and g?ve it as his opinion that the taxation of ground-rents would b? very unjust to the investors in such property, while not benefiting occupying tenants, and also that those who advocate the taxation of existing ground-rents greatly exaggerate the increase of the burthen of local rates. His belief was that the course proposed would transfer one-fourth of the value of the ground-rents from the present owners to the present lessees, without compensation. As regards proposals with a view to the increased taxation of land for municipal purposes, separately from the assessment and taxation of buildings, Mr. Moulton gave evidence in detail in support of such proposals, and expressed his belief that if the values of land and houses were rated on separate assessments, the former being more heavily taxed than the latter, and the actual enjoyers of the values made to pay, landed property would then properly bear its share of burdens. Mr. Campbell Irons, 'Mr. Bin% and Mr. Cameron also gave evidence in favour of the separate taxation of land and of buildings thereon; while on the other hand evidence adverse to these proposals was given by Mr. Martin, Mr. Beken, Mr. Logan and others, one objection being that the assessment and rating of land and buildings separately would be mere guess-?'ork and would cause expeuse and jobbery, without yielding a farthing more on the rates. Translations of Laws recently passed in France and Germany a.tcting the Bonties on Sugar. Commercial. No. 27 (C--6514). THIS paper contains translations of the text of the laws relating to the sugar n:gime, which ?a'ere passed in France in June, and in Germany in May last.
