The Sun.
London, England, 1852-12-03 00:00:00

TO THE EDITOR OF THE SUN.

SIR,-Though it cannot be admitted that there is
equity in the principle of a graduated scale proportioned
to the income of individuals, yet that, inasmuch, as it
would require a double operation, viz., to tax the pro-
perty where found with reference to possession of pro-
perty elsewhere, would be inquisitorial, and in many
cases impossible, the following scheme is submitted for
consideration :
Ist. That all real and funded property should be sub-
jected to a certain named duty, and that this duty
should be paid by the parties in actual possession ; they
having the right to claim from the real owners on a set-
tlement such sum, or sums, as such party should pay.
2d. That all recipients of income from Government,
or from Church preferment under 2001. a-year, one per
cent. ; and above 2001. a-year, three per cent.
3d. That all recipients of salary, whether from rail-
ways, insurance companies, bankers, merchants, clerks,
and others, under 2001. a-year, one per cent., and above
2001. a-year, three per cent.

4th. It may be said that it would be unjust not to
tax property engaged in trade, or income derived from
trade, professions, &c. My answer is :—lf a
spends all his profits or cal nings, he pays axe
indi-
rectly; and the community benefits by such expenditure.tto
If he save any portion, then that portion enables him ;
enlarge his business, and so benefits the community
or it becomes realised property, and as snucohwecvoenrt,ribthuetesz.e
to the state of the following year.
could be no objection, and it certainly would
appearance of fairness, that a tax should
not upon the profits or incomes madet
interest of ca.
in trade, profes-
o be imposed
have the
sions, &c. ; but a per centage which
pital would
:
and his capital in trade is
damount to if it were
&c.not engaged in trade,
A publican takes a.n houset
, ,
3,0001. ;this sum would at
say /., his plant, 1501. fa e
a-year. This 150/. a-year
five per cent.
givel charged with a tax of five per cent.
would, therefore.
Again :
merchant is engaged in trade. His capital
is say 20,0001 ~the in_ on I,oool.ytereNsthoiefhwhaitchfivisepercent, would
be a year at
fives
at the same rate on the interest of the
perol. cent., the tax
A shopkeeper
capital engaged—a farmer, and every other occupation
the same, mines, shipping, &c., &c.
There would be no inspection of private accounts or
books—no investigation into profits in such a system ;
and when we consider the enormous amount of property,
by some estimated at five and even six thousand mil-
lions, there cannot be a doubt but that a very large
revenue upon an equitable principle would be realised,
and no interest would escape paying what is just (to
permit any realised interest to escape is to encourage
immorality), and that trade and general enterprise would
be encouraged without being oppressive to any one, or
without unduly encouraging speculation ; and though it
would be unwise in the first instance to reduce
ai.i
taxa-
tion, yet it is confidently anticipated that
not all interior taxes, such as the window tarmstalt
andand
paper tax—duties upon life and fire insurancesllmore or less
charter parties, &c., all of which
onerously upon parties who ared generally„ away with upon
com-
petent to bear them, might be n fall
not
ethxpeyerimenigchetosfaftehlye productivenessbe repealed.
done
this plan proving
Temple, 1849. THOMAS BANISTER.

UNVERSITY COLLEGE HOSPITAL.—The committee
have received notice of a legacy of 501. Three per Cent.
Consols, bequeathed to this charity by the late Mrs. Alice
Walls, of Paradise-row, Hammersmith.
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five years, with frequent attacks of tic-doloreux and
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ultimately she was restored to perfect health and
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