| Description | William explains the lack of succession duty in India. There are duties on probates of wills and certificates of administration instead. Duty on the latter has been light, and he gives the new scale of fees, which is not yet in law. He doubts the new loans will have any effect as a previous attempt at 3.5% loans fell flat. William is putting all he can save into Calcutta Municipal Debentures at 6%, market rates 5.5%. He has laid out 6,000 rupees this year and hopes to have more next year. They are longing to hear of Carry's trip to Egypt [Caroline Emilia Mary Gordon, née Herschel]. |