The Sun.
London, England, 1852-10-22 00:00:00

THE SUN, LONDONpFRIDAY EVENING, OCTOBER 22, 1852.

sterling—a sum sufficient to pay the interest of the
debt, and provide for the other nacessary expenditure,
We have no doubt that in a few years the local
charges might also be met from the same source, and
that county rates, ceases, and even the maintenance of
paupers—if any could be fcund under the improved
system—would be numbered with the past. The
manner in which the present tax has been dealt with,
however, opposes a serious impediment to just legisla-
tion on the subject. During the war, when every pos-
sible mode of obtaining money was resorted to, it was
deemed expedient to enable parties to redeem their
Land-tax, by transferring so much stock as would
produce an annual amount of interest equal to the
Land-tax previously charged, with 10 per cent. ad-
ditional, or by paying a sum of money sufficient to
purchase such an amount of stock in the Three per Cent
Consols, or Three per Cent Reduced Annuities,
at the price of such stock the second week
after the date of the contract. Many availed
themselves of this privilege, and it is calculated that
about one-third of the Land-tax, throughout the entire
kingdom has been thus redeemed.

It is now argued that there is a solemn pledge on
the part of the nation against imposing any tax what-
soever on the lands for which exemption has thus
been purchased. But this is a palpable mistake.
The creation of the House•tax last year
would be a direct violation if such a pledge
had been given, and yet no objection on that
ground was raised to the tax. Had such been the
case, it would have been proved to be untenable.
Mr. PITT, in moving the resolutions on which the
first Redemption Act was founded, expressly declared
that " they left the question of a more equal repar-
tition of the Land-tax precisely where they found it;"
and, after speaking of the undoubted right of Parlia-
ment to raise a new impost on land—adding, " that
the only thing necessary to provide, would be, that
the amount of what may have been redeemed, should
be deducted from any new impost." This places the
question in a correct point of view. The owners of
property on which the Land-tax has been redeemed
would have a right to claim so much, but nothing
more. They should be allowed for that which they
have purchased, and that may be granted with the
greatest facility.

A very able pamphlet on this subject—" The
Repeal of the Land-tax essential to an Equita-
ble Adjustment of Taxation" has recently
appeared, being reprinted from the " Circular
to Bankers." It is dedicated to the CHANCELLOR
of the EXCHEQUER, and it unquestionably gives ex-
pression to the opinions that have already been pro-
mulgated by the Right Honourable Gentleman.
Nothing can more clearly show the absurdity and
injustice of the present system than the elaborate
tables published showing the amount of Land-
tax charged in each County of England and Wales
—the amount redeemed—the annual value of real
property assessed to the Property-tax, and the rate of
Land-tax per pound on such value. These will most
forcibly point out the extent of the grievance, where
the average in Buckinghamshire amounts to Is. lid.
per pound, while in Lancashire it is less than id., or
to go to smaller districts, where it is Is. 104 d. in the
pound in St. Paul's, Covent-garden, and still higher in
the Liberty of the Rolls, and about the eighth part of
a farthing, l-311 of a penny in Liverpool. These
palpable inequalities can no longer be suf!ared to
exist. They imperatively demand instant attention,
and we have no doubt that they will receive it at the
hands of the Chancellor of the EXCHEQUER.