In 1886 it had been feasible to propose Home Rule with an Imperial contribution of two and a half millions.

By 1893 the possible margin had dropped heavily, and Mr.Gladstone had foretold that within fifteen years Ireland would absorb more money for purely Irish services than Irish taxation produced.

This prophecy had been fulfilled to the letter, and everyone saw that to continue the Union meant increasing this charge automatically.

It was better to cut the loss and at least say that it should not exceed a fixed figure.
But in Ireland men dwelt always on the Report of the Financial Relations Commission, which had represented the balance as heavily against England and the account for overtaxation of the poorer country as reaching three hundred millions.

No man quoted this document oftener than Redmond, and none was a firmer believer in its justification.