money answers all things-第15章
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of all Kinds will hence be reduced； and therefore will certainly have a Surplus of Revenue arising not only by the Augmentation thereof； but by being enabled to effect every thing； that they may have Occasion to do； with much less Sums than they can now effect those Things； and sure this Difference； which will certainly be very considerable； if sufficiently pursued； may be applied to reduce the national Debts； and ease the Taxes。 But perhaps it will be objected； that to effect this Proposal； the Land…tax will lessen with the Rents of Lands； whence the Revenue must in this Branch of it diminish。 I answer； that most of the Counties are able； with 2/3 of the Tax on Land； to raise the Quota's assess'd on them。 And Eras。 Phillips； Esq： p。 44； supposes all the Lands in the Kingdom not to be assess'd at above half their Value； and if so； their Quotas； notwithstanding the Fall of Rents； may be still kept up； but if we add the Land…tax； that may be further raised on so great an Addition of Land； as much every Year be further put into Use and cultivated； to hold the needful Proportion to the natural Increase of Mankind； and effect the Things I am contending for； this Addition of the Land…tax will； undoubtedly； contribute so much to the preventing any Diminution of this Branch of the Revenue； that； I think； we need have no Apprehensions about this Matter。 And if the People will encrease as Trade is relieved and enlarged； which is a Truth known even to a Maxim； there can be no doubt that the Revenue will certainly； in the whole； soon be augmented； and also in this Branch of it。 But because the Land； that shall be further put to Use； will be more in Proportion in some Counties than others； perhaps this may make a new Assessment of the Land…tax needful； which therefore in such Case should be done。 I can't dismiss this Head without shewing that if all the Taxes were taken off Goods； and levied on Lands and Houses only； the Gentlemen would have more nett Rent left out of their Estates； than they have now the Taxes are almost wholly levied on Goods。 The national Debt is supposed to be near 50 Millions； the Interest of which； at 4 per cent is two Millions： And I further suppose； two Millions more may be near as much as is raised for the current Service of the Year； in these times of Peace； this together makes four Million per annum； which must be raised nett for the Government。 The Rental of the Kingdom； though it's at present assess'd but at 10； is well known to be 20 millions per annum；（24*） so that if the Land were fully assess'd （as it certainly ought if it can be proved that the Land must pay all the Taxes； however the Manner of collecting them be varied） four Shillings in the Pound would raise the whole Supply of four Millions； except the Charge of collecting it； which by way of Land…tax being found to be but about 6 Pence in the Pound； or 2 1/2 per cent will make but 100；000 l。 more。 But let us see what it will cost the nation to raise four Millions per annum on Goods。 I suppose we have hardly less than 15；000 Persons employed； in the Kingdom； and upon the Coasts thereof； to collect； mange； and look after the revenue in every Respect； besides a considerable Number of Vessels； the Charge of which； and Salaries of all these Officers of every Class； together with the Perquisites they receive from the People； which affect the Price of Goods just as if it were all nett Duty paid into the Treasury； all these Charges taken together； I suppose； may very moderately be rekoned equal to 100 l。 per Annum； at a Medium； for each of those Persons。 so that the Nation is thus necessarily put to a Million and an half Charge by these Officers； and if we suppose the Duties on Goods； and the Charge of collecting them； to be equal to 1/6 of the gross Value of them； then the gross Value will at this Rate be 33 Millions。 Now since those that disburse the Duties； and Charge of collecting them； must have a suitable Profit to every Hand through which the Goods pass to the Consumers； I will suppose these Profits to inhance the Value of the Goods to the Consumers 8 per cent（25*） this will occasion a further Charge to the Nation of 2；640；000 l。 per annum。 So that collecting four Millions for the Government on Goods； puts the Nation to above four Millions more Charge； than would be sufficient to raise the same Supply by way of Land…tax only。 And I verily believe； I have not exceeded in any of my Suppositions； or if I have； I doubt not that I am still in the whole Charge enough within Compass； and that this Way of Reasoning is just。 But before I proceed to shew that this whole Charge of 8 Millions； which is equal to 8 Shillings in the Pound on the Rental of the Kingdom； will all fall ultimately on the Land； it is needful to shew that the Land gives all we have。 That the Land gives all we have； would be self…evident； if we did not import many Goods which are the Produce of other Nations： But this makes no Alteration in the Case； since the Quantity of foreign Goods we import； can't continually be of greater Value than the Goods we export； because this； in the End； must exhaust all our Cash； and so put an End to that Excess。 Therefore the Goods we import stand only in Place； and in Stead of those we export； consequently the Land gives not only all we have of our own Produce； etc。 but virtually all we receive from other Nations； since it produces and delivers； at least； a Quantity equal in Value to the Quantity of Goods we import。 And as I have now proved that the Land gives all we have； notwithstanding the Importation of any Quantity of foreign Goods； I will next shew that it must pay all the Taxes； levy them how we will。 I might without going any further； insist on it； as a self…evident Principle； that that which gives all must pay all； but I will shew how this comes to pass in this Case。 It hath been laid down as a certain Principle； That the Price of Goods to the Consumers in general； depends on； and is governed by； and will always be more or less； according as the Quantity of Cash circulating amongst the People is more or less； in Proportion to their Numbers。 And as the Rents of Lands depend also on this Principle； I will shew what the Rents of Lands will be in Consequence thereof。 Now the Rents of Lands can be no greater （nay they ought not to be so great） than the Overplus which remains to the Farmers； after all charges； together with their own Subsistence； are deducted out of the Price or sum； the Produce of the Land they rent fetches at Market； and Experience shews； the Rents of Lands will always be very near as much as this； since the Farmers in general； as well as every body else； find it as much as they can well do to pay their Rents。 But to proceed。 Suppose the Cash； amongst the People in general； to be what it now is； and that all the Taxes were taken off Goods； it's evident； this would not； in the End； lower the Price of Goods to the Consumers； since that Price； by the Principle laid down； depends on the Quantity of Money circulating amongst the People： But if the Duties were taken off Goods； they must cost as much less than they do now； as the Taxes now on them； with the Charges of collecting； etc。 now inhance them； therefore； I think； if the Taxes were taken off Goods； and laid on Lands and Houses only； so much more Money must in this Case come to the Hands of the Farmers for the Produce of the Ground； as would enable them to pay as much larger Rents than they now can do； as would double the Land…tax； if the whole supply were raised this Way only： and this I conclude must be so； because the Charge of collecting the Duties on Goods is； as hath been shewn； about equal to the nett Supply for the Government； whilst the Charge of collecting the Supply by Way of Land…tax； doth not exceed 1/40 Part of the Charge of collecting in on Goods； as hath also been shewn。 But that I may make it evident that the Taxes； and all Charges which attend collecting them on Goods； must lessen the Rents as much as they amount to； I reason thus： The Produce of the Ground； when fitted for the Consumer； fetches a certain Sum of Money； out of which all charges； from the raising it out of the Earth to the fitting it for the Consumer； must be deducted； together with the Taxes； and all Charges they occasion by collecting them； and the Overplus； after these are all deducted； is all the Rent that can possibly be paid。 Now if the Taxes； and Charges they occasion in collecting them on Goods； be equal to 7； 8 or 9 Shillings in the Pound on the Rental of the Kingdom； these； which deduct so much out of the Price which the Goods fetch of the Consumers； must deduct it ultimately out of the Rent。 And if every thing will always find its true Value； which is a known Maxim in Trade； Land； which is most valuable of all Things； because it gives all Things； must do so； there if the Taxes were all taken off Goods； the Land would necessarily bear so much higher Rents； as the Taxes subtract from the Price of the Goods it produces； and this will clearly appear； by shewing in what Manner taking the Taxes off Goods will operate； to bring the whole Amount of them into the Landlords Pockets for Rent。 If the Taxes were taken off Goods； they would come cheaper； and Cheapness would increase the Consumption； as Cheapness of every thing always doth； and that Increase of the Consumption would increase the Demand for those Things。 Now since every thing is the Produce of the Ground； the Demand for the Produce would increase the Demand for Land； and that would necessarily raise the Rent； even till all the Money now paid for Taxes； together with all the charge they are necessarily attended with； would come into the Landlords Pockets for Rent。 Thus if the Taxes were taken off Goods； the Landlords would receive 8 or 9 Shillings in the Pound more Rent than they now do； if the Taxes on goods do any way amount to so much； and if 4 Shillings in the Pound or thereabouts would； as hath been shewn； raise the whole Supply for the Government； the Landlords would receive more Rent； by 4 Shillings in the Pound on their whole Estates； after the Taxes are deducted； than they can do whilst the supply for the Government is raised on Goods。 Nor can this possibly be otherwise； unless the Money circulating amongst the People be not sufficient to augment the Rents so much： And though I allow it is not； yet I verily believe； if all the Taxes were taken off Goods； the Money we have would be found sufficient to augment the Rents； equal to the Taxes that would be needful to be laid on them； or； at least； that it would prevent any considerable Fall of the present Rents of Lands in general； even though so much Land were to be added and improved； as would be needful to answer the Purposes I am persuing in this Essay。 But perhaps it will be asked； if taking the Taxes off Goods will not in the End lower their Prices to the Consumers； as it certainly will not； because the Prices of all Commodities in general do necessarily depend on the Quantity of Money circulating amongst the People： I say； perhaps it will be asked； what Advantage the taking the Taxes off Goods will be to Trade？ I answer； First； That all the Hands now employed in raising the Taxes on Goods； would be gained to contribute their Quota of
