The Sun.
London, England, 1856-12-29 00:00:00

f"i~I~l~vl

L

~' 6.

A with £416 pays 1-41st of his property.
B with £667 pays 1-66th of his property.
C with £903 pays 1-90th of his property.
D with £1,216 pays 1-121st of his property.
E with £1,667 pays 1-166th of his property.
F with £2,038 pays 1.203 d of his property.
G with £2,228 pays 1-222 d of his property.
H with £2,593 pays 1-259th of his property.
I with £3,222 pays 1-322 d of his property.
K with £3,750 pays 1-375th of his property.

(Spirit continuing with dignity, and rising into the style
of the late Sir R. Peel.) Thus, sir, by a simple appeal
to the invaluable science which I left for the guidance
of an attentive world, I have shown to you that your
income tax is, in fact, a graduated property tax—the
gradation of the scale of taxation proceeding in the in-
verse ratio of fairness, sound policy, and ability to sustain
the burthea. From neglect of that science with which
my name is imperishably associated this evil has arisen,
and has been perpetuated ; and terrible has been the
punishment which retributive justice has inflicted on the
degenerate sons of those who were my pupils and admir-
ing disciples. By a simple return to the study of this
sublime rule of proportion, the tax on incomes may be re-
pealed, and a tax on property, valued as property, may be
introduced. Time warns me that I must be brief, for at.
cock-crowing our interview must terminate. There are two
courses open to you; either repeal this tax- on profits at
once and for ever, and substitute a bona fide, ad valorem.
Property tax and go clown to pcsterity— which means come
to us inthe spirit world—"readingyour history in a" grateful
" nation's eyee ;"' or persist in the tax as at present levied
(to palter with or tinker it i 3 useless), and be swept out of
office by the swelling flood of indignant intelligence which
is rising hourly in the breast of the British people. (The
Chancellor displays emotion.) Tell that people from me
that there are three things which I wish them to attend
to-1. Education; 2, Competitive examination; .. Book-
keeping. 4'
('h. of Ex. (with cheerful aspect)—Ah ! these are points
which I have invariably urged on the Cabinet and advo-
cated its the house; attention to the education of the
masses, and competitive examination as the basis of ad-
mission to clerkships in our public--
now allude to the Sp.—Bold.
misinterpretYomuassesortothe Clarks. s.
the head and not at the foot, of the scale; it will be time
to consider the clerks when their betters are attended to.
weaning.
eti is begin dg at
do not
not
I wish you to communicate to the British people my dn•
sire that they should attend more to the education of their
representatives and head officials ; let these, before selec-
tion, be put through a course of simple arithmetic, in-
cluding the first four rules, Proportion, and espec:ally Re-
duction—a rule of which they appear to be lamentably
ignorant ; let them be required to repeat by rotemy dia-
logue on the income tax before taking upon them their
official duties; a slight examination in English history
and the principles of English law may also be superadded.
Lastly, for my minutes are numbered, let the British
people see to it that the receipt and expenditure of the na-
tion are stated clearly, explicitly, and in detail, according
to the rules laid down in my Elementary Treatise on
Book-keeping„ and published annually, before further sup-
plies are asked for.
(The cock crows, the Shade of Cocker melts awry; the
Chancellor is discovered at daylight seated at his bureau,
a trace of sadness on bis brow, but a wiser man.)

TABLE I.
The Present Values of Incomes for Tarious Periods cer-
tain, and Rates at which each ars Taxed.

Present Proportion
Value of Amount of Rate per •of Property
Years. £l5O per Tax levied Cent. of "Ad
Annum. Annually. T:lft:ioitti..
„......._Aktuittally-
--- --
I.: 2
3 416 10 2 $ 0 1.415 t
5 6:37 10 1 911 I_66th
7 900 10 1 2 2
10 1,216 10 016 '''' 1
-121 s 1-90th
15 1,667 10 0 11 ii
20 2,038 10 0 9 1-166th
23 2,228 10- 9 1 203 d
0 8I I, 1122:td
25 2,34:3 10
30 2,593 10 08 6 I-234th
40 2,965 10 7 8 1-259th
0
50 3,222 10 6 8 1-296th
60 3,393 10 0 ( 2 1-322 d
70
Talsle.—Al: i
3,509 10 0 510 1.335 th
80 3,687 10 0 5 8 1-350th
90 3,640 0 5 6 1.358 th
3,7soPeErgxeptluanitaytionoo 5 5 1-36ith
10
fifteeu years is worth 1 res-7, nc, • in! Tne.ol3lB T.I
out! oesrti:in 0t1:1357057.thf,

Explanation of Talele.—Att income certain of 1501. I,r
fifteen years is worth 1,667/ and paying 101. Income T‘x
io taxed at the rate of Us. ild. Der cent. on the pr. moat
in-
come in perpetuity
value, being 1-66th Part of the propertp. A tthail" in:
is taxed at SE. 4d. FP nits) is worth 3,750/., 't
(say in the u
t being per cent., ~
value.l-375th put of the

TABLE 11.
()US Incomes, oujoya4l either for
y for Labour, at various Ages.
it., Carlisle rate of mortality.

Present Values of Prey,.
Life or during Capaci
Calculated at 51. per CO'

Prelient
Rate per Value of Rate per
Present Amount
Age.
£l5O per
peorf of T.ax cent. of Tax Xl5O per cee;tiorifigTaz
levied
Annually Annan' Annually
feArnLnuitT. Annually. during Life. Life.
_cduprl_23,
£ s. ti. d.
20 10 0 8 5 2,295 0 S
' 10 0 S S 2,208 09 0
i 8 2,20$ 10 09 0 2,119 0 9
35 12,119 10 09 5 2,008 00 11
10 0 011 1,897 010 6
4405 21,08987
10 110 6 1,749 011 5
.50 1,749 10 011 5 1,532 12 12 10
55 1,552 10 012 10 1,341 014 11
60 1,341 10 014 11 1,164 017 2
G 5 1,164 10 017 2 950 11 0
70 950 10 11 0 74S 16 8
75 74i 10 16S• • 602 113 2
80 602 10 113 2. 481 21 7
85 I 481 lO 2 1 7 351 216 11

Explanation of Table.—The life income of 150/, of per.
son aged 60 is worth 1,3411., and he is taxed on that value
at the rate of 14s. 11d. per cent. As, however, men &iv
generally incapacitated for active exertion before death,
a column has been added, with the value of incomes at
various ages, determinable at five years before death
(which period is assumed as the average period of incaPa•
city) ; the income of the same person, aged 6), will, upon
this assumption, be worth 1,1611.,
and he will be taxed at
the rate of 17s. 2d. per cont. ; a similar income in the
Funds (see Table I.) is taxed at ss. 4d. per cent.
By the above Tables I. and 11. the values of incomes for
periods certain, and also of precarious incomes. may be
approximately ascertained, and the effects of the Income
Tax upon them may be contrasted.

* Amongst other financial paradoxes resulting from ;the
4/'
whichp: oduce less than 1001.
working of the existing system if; the following :—lf a person
has 3,3001. Consols and purchases 3'/• in addition, he is, by
the transaction, a loser of 125/. Thus, A has 3,300 Coma, Is,
per annum, he therefore esca .pc.
taxation, paying la ge purchases 34/. Consols, ma.kis g a
which
total of 3,3341., gives au income of 1001. a ye., anil
renders him liable to a reduction of 11Ad in the pen:ad 1.---41.
the tax it made a
15s 10d; if permanent, this is equal t to
capital of 15
v
9/' ' sothat he gains 341., and loses 1591, j i pp..
sent slue, or is in a
worse position by 1251.
t Omitting regt•oficts, Crown Lando, de.

(1, .//2 '

4 Zafti le-,vrra i e, j..)oz at ti 7.e .I.sraaapay !PAM 4.0014 44411rE77.19-,
more wortnily occupied than by yrniaelr. 8ut.at0rra...,,7"-::a-Natg,
vacant Garter is at his disposal, and would ,_ki.7,VUs
offered for your acceptance. done.,•. ~.a, ... ra
. t."..: 1'µ4.,"':0.4., 1,7!„.
Sp. (interrupting, with a hearty langb)—A gar - 2 ,r. ;t-w":01"5,7; "1,1 /,
tsiCan a spirit's leg be invested with a garter ? -- • -r
~... _ , '''. a/1"-i
i Ch. of Ex. (awaking to as. rice -.a b:. position)- I-yiz„,,,
forgot myself for a moment ; a dignity
of t la .t, ki wo . 4
be somewhat out of pace. a,j,,, a s
Sp. —Of unrse it would. Such things poa,ess no value le '
n "aakj.
the spirit world ; from the oruer of the Seraphim of .Swe.
den down to the Garter of Great Britain, all such decora-
tions are alike worthless.
Ch. of Ex.—Assuming, however, that a tax by way of
substitute should be required, what tax do you recom-
mend ?
Sp.—A Property Tax.
Ch. of Ex.—But have you uoi, deuronst,ratid tlieralsd.
culty of levying such a tax fairly ? s'
Sp.—Not at all. I required you to demonstrate that
your Income Tax was, in one sense a Properly Tax; not an
equal tax on the value of property, but a grartuated sliding
seals Property Tax, the gradation of the taxation being in
a ratio inverse to the amount of the proper ty. Confound-
ing the produce of skill and labour with the interest aria-
ing from realised property, and then ignoring all those
differences in the value of property arising from the dura-
tion of the income taxed, I endeavoured to convince you
that your tax was a masterpiece of injustice. What I now
propose as a property taxis a very different thing ; by that
term I mean an equal tax ou the value of all realisable
property in the country, so that if 1001. shall pay 1/., then
1,0001. will pay 101., and 10,C00/. will pay 1001. This tax
being
levied upon fair principles, there c‘uld be no diffi-
enity in making all contribute ,- whereas von now exempt
a large proportion of the property of the country, viz., that
which belongs to owners of property up to about 3,0001.
in value—while you inflict the tax in its most oppres-
sive form upon men living by labour of hand or brain,
and who have not 101. worth of property in the world.
Ch. of Ex.—But such a tax will drive property from the
country.
Sp.—lt cannot drive away the land, or hounds, or facto-
ries, or funds, or mines, or railways; such fears are alto-
gether delusive. Let me ask, however, have you no feara
lest British industry, skill, and enterprise should seek
more congenial treatment than they receive under your
paternal management ? What would be the value of laud,
where would the wealth of England be, or how would you
raise your taxes, if British skill and enterprise should make
themselves wings and fly away ?
Ch. of Ex.—But could the property of the country sup-
port the burthen?
Sp.—First tell me what is the estimated value of the
property in Great Britain?
Ch. of Ex.—lt has been estimated by the best statists to
be worth 5,000 millions.
Sp.—lt is more than that, as your Income Tax returns
demonstrate; but I will assume that your figures are cor-
rect. Now tell me, what is the average annual charge on
the country for national purposes ?
Ch. of Ex.—Say, in time of peace, about 50 millions 4
Sp. (sharply)—Then 5,000 millions cannot pay 50 mil-
lion, or, in other words, 5,0001. cannot bear the burtheu
of 50/. annually ? Why, if all the existine buccal were
swept away to-morrow, a Property Tax would produce
easily all the revenue of the country. It ii, however,
some 10 millions at the most that von are called upon to
supply, now that the war is over; and you are bold enough
to tell me that 5,000 millions cannot pay 10 millions, or, in
other words, that a tax of 4s. on the 1001. in value would
be an intolerable and insupportable bar-then on property.
You might just as well try to convince me that Moneygrub
and Millionnaire, of Lombard-street, are unable to pay their
police rate. The simple truth is, yon delude yourself about
the excessive pressure of taxation on property, whereas
property has never yet felt the strain. Your taxes oppress
not so much because they are excessive, ns because they
bear unequally, and where there is not strength to support
their weight. You set, so to speak, a pony to draw a la lon
waggon, and you yoke a team of cart horses to a child's
perambulator. From the man who maintains, as I did
when in this world, a constant struggle for life and its
common necessaries, you wring (after taxing everything
which he eats, drinks, and uses) some 151., 201., or 301.,
which is the very life-blood, bone, and sinew of himself
and family ; adding mockery to injury, by offering him a
receipt for Property Tax. You then collect from those who
enjoy every comfort and luxury, with money to spare for
every form of indulgence, an amount insignificant in pro-
portion to their property, and which does not trench upon
the use or enjoyment of a single superfluity. To revert to
the proportionate values again. Each of the properties I
have referred to pays 101. annually for Income Tax, so
that—