The British Press; or, Morning Literary Advertiser.
London, England, 1820-09-20 00:00:00

TO THE EDITOR OF THE BRITISH PRESS

Itaa—The columns of your valinibk Paper being opus to
matters of the State, when it appears of stasespresce' I bee
leave to claim • portion of your attentissio no less a mi-
ke thus the uneasiest defraying the National Debt, which
has produced several editioas fuss the pas of MP: & M.
field, and some ohservstiosis thereto* by Mr. Cobbett.
I have perused Mr. Heethield's poblicatims, hat they ap-
pear to me all confusion, woe is Mr. Cobbett's prodectioa
calculated to produce a correct view of that gnu) question.
Mr. flestlifield has asserted, that the propsrfpof the kiag-
dum is worthl,soo saillims, which Mr. tt thinks is
very far beyoed the mark, and arose that by art estimate in
1812 it was calculated at 2,740,000, sad aye, " every
one well kuows property was worth *early, if not quite,
twice as much .omisatly as it is sow" (1820), and add.,
that " wheat was almost double its present price," and a
few liars (artier observe", that the pound note was them
worth 151 and sow (1820) nearly tea , and that reuse
have greatly tallest. In the neat place I mean to assert
h.ddly, without the least fear of effectual costradicliou,
that the rents hare not actually fallen—hut, vu the cup.
trary, have been bona fide rising to the reseal MOUSteli,
sad that wheat is a peat deal deuce now than lie. Cubbeit
snakes it appear. In the part of the kingdom where I reside,
wheat is sold by the load of 40 bashels—each bushel, fire
or six years ago, measuring nine gallants sod • half, but ,
now measuring only eight gallons, being 60 gallons loss in
the load, wfiich, • ith the difference of the It note being
increased in value ss. or 25 per mot., renders the load of
wheat at the pees ut price of 181. per load, equal to
261. 14s aid. six year* ago, or the difference of '9l. and
13s. SJ. the hurdle! (fractions excepted). Then as to the
rents, I cannot And any diminution, except in • very few
instaiire., and those nut exceeding 25 per cent. ; which is
no reduction at all, the increase in the value of mosey
Mine quite equal to it in any caw, and emelt more this
equal in many cases. For instame, the Land Owner ems.
nut only perches any other kind of article foe 751.
for which he lately gave 1041/.; lint he cam purchase may
of our inansfactures, as much fur 3411. as he could a few
years ago for 1001.—cuttoo goods foe inhume. if Shea, as
I contend, generally speaking, the ease money rents are
obtained as were • few years ago, rents are netnnUp railed
lb per. cent. in addition to the 'vanities' of the Property Tat.
Theo mach for argument; loot let us come to plain pounds,.
shillings, and pence. Mr. Cohlost does not positively say,
that the rental of the whole lugedes is only 91 millions,
but wishes to Make that Impression. Now the truly way to
And the value of the land is to ascertain the 'quantity, 'sod
an average value. It is then well known, that is the
(baited Kingdom Mere are not fewer than 70 sillies' of
acres, worth at the least, us the ge, 305., per acre rem,
or one hundred and five millions of rental yearly, which, at
only twenty years purchase, must be worth 2,100 millions ;
and at th•rty years purchase (the usual rate), 3,150 milliont;
oue third of which latter ems is mere thaw equal to pay off
that debt, which Mr. Cobbett says would not only require
all this land, but says, that all the laud aid bosses, stack,
&c.ite. would riot half pay it off.
Mr. Cubbett seems puszled how to average each mao's
share of the debt. In this I And no difficulty. Let the
first attempt be to discharge three hundred minims of the
debt, the interest of which would be fifteen millions a-year ;
then abolish some of the must oppressive taxes to that
amount, and lay on an Income Tax of Aft. en millions
yearly, to be rsdeentabie -at the will of the payer, in ale
same manner as the laurl.tax was redeemed, which Income
Tax should be of three class., as 1 have somewhere s.eu.
locomen from lauded and funded property to be the Ant
class; annuities and life interests certain to furs the seemed
class; and trades, farmers, and professions, the third elan;
to be charged in the proportions of four—three--Iwo, with
all.waiirea for children. I acme with Mr. Cubbett, that it e
Land Owners do not pay the taxes, and that eourtqueutly a
very small portion of thenuterest of the debt falls ua dies.
The tenantry are. favoured by every Act that is passed re.
Sting to taxes, and genie Ass ale mood for thempres
purpose. There is ao lax on agricultural somata, very
little on their boars, turnpike tolls they are exempt from is
certain cases; end all this to enable them to pay mese rest.
The teasel Is not favoured or benefited by high Prim or
low taxes; it only makes the fair, of name valise is mot to
the leadlord. Is Mr. Colibett aware, flee the eine
which the prim of wheat has opts barley, mak% rye,
ternips, paealioro, meat, salt, sad every Mine hied of
agricultural petiolate, sad frets she amp imps of
the lard is the Usitrd goal/ass, that see Antis& by Antal