The Sun.
London, England, 1815-11-18 00:00:00

Tiles PROFititit TAX.

MR. EDITOR,—Your Correspondent " CON -
TRIBUToR," semis to have Undertaken a laborious
task to very little ptirpose, io giving. his modified
scale of the Tax on PropettY., I mean as far as
reittes to the profits on trade. In fite first place,
I object, most decidedly, to his arrangement of his
Scale, as decending far too IoW, and making the
Tam depend on the -hard earnings Of industry in
its [nimblest stage. The modification so loudly
called for, is, in respect to these honest, but at pre-
sent ninth burthened people, who, in fact, only
live front hand to mouth, and leave nothing but
their example as an inheritance to their children. I
also object to the proposition for levying instantly.
any Tax which equitably can only he exacted on
a balance. Your " COWTRIBUT011" says—" ho
merchant would speculate but upon the prospect
of profit ;" now, Mr. Editor, I deny these pre,
mises, as being calculated to produce
.a false in,
ference, namely, th...t " because a merchant spe-
culates, a profit certainly will ensue ;''but your Cor-
respondentassists his- assertion, by coupling a sort
of presage of the merchant's futore caution ; "and
when he is aware of I duty of 10 per cent. lie
will be cautious to make his bargain so that he
may obtain a profit, &c." This reasoning is .not
quite consistent with experince,'and I very much
fear, if " CONTRIBUTOR" will -Cast his eyes over
the London Gazette, for a few years back; he will
find sonic lamentable proofs to the contrary of his
good opinion of merchant's for ;sight. 'Another
part of this clever plan I materially object to—
that is the subjecting the bill of lading,' and entry
of imported goods, to a stamp. I should be glad
to know of " CONTRIBUTOR" how any proper
profit can be attached, nominallyto any Article of
trade to justify the levying a Tax upon it Is the.
Ciovernment to assume, that because sugar is im-
ported at the cost-price of 70s: cwt, and sold at
655. that tlnre is a profit. notwithstanding ? Or
hemp (their own contract -last ',ear will advise
them the contrary) imported at 56/. per ton, must
yield a profit.? Ministers have been too long mer-
chants themselves not to undersiund this. Air.
Pitt, whose authorty few men will venture to
dispute, was well aware of the dreadful fluctuations
of a merchant's profits ; and as, in reality, in a
merchant's case it is a direct Tax upon indus-
try (hut which does not fall upon the consumer) it
certainly is but fair to allow him a deduction of
his loss, otherwise his case stand thtiS
..... Profit 1001. Tix - 10
Oct. 14. Loss 2001 Deduction (10
and so on, ad infinitum, at least, till he was,
run, profit and all, into the London 'Gazelle.—
It is a gret.t pity some commercial character
of weight in the City and House of Com-
mons, does not afford his assists nee in framing
sUch a fill as might meet the views of all parties.
Your friend CONTRIBUTOR" would throw us
out of the frying-pan into the fire.._ I beg your
pardon for thus intrudiag, my obserV.ltions upon
you, and at so' great a distance, but the interest
every commercial man must feel when the subject
before us is agitated, has Urged the to the Cs FeS-
sion of my sentiments, on " CONTRIBUTOCs" pro-
positiou. Mrvanity may possibly lead me to sub-
tiiit one or my own, it is wilt meet with Attention.'
I remain, Mr. Editor,
• Your very obedient servant,
Newcastle-upon,Tyne; Nov. 13. A 11ERCI'L
To The Editor of Tiff;

* The Editor of Tut: SuN will pay every attention to com-
munications ou this important subject. Convinced that a
mil-modified Property Tax is the. most adekeable measure
cf Finance which can be adopted fur this nation in peace or
in war, arid most anxious to see a right scale devised for le-
vying it—a scale not descending too low to oppress the bumble,
not' taxing casual profits like certain proceeds of real prO-
perty; but, in short, combining all the advantages which a
happy theory can suggest, he thinks the columns of Time
Sux cannot he better employed than in komulgating there-
upon impartially the opinions of the well-tinforinea.

111,111.5.

Altaivrn-1111alta, 1 Hamburgh, 1 Halifax, I Guernsey and
Jersey, 1-Dublin. DoE=--3 France, 1 Lisbon, I liollaltd,
1 Malta, 3 Hamburgli, 3 Gottent?urgli, 1 Waterford.

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