The Sun.
London, England, 1845-02-21 00:00:00

ANCIAL

COMMERCIAL AND FE\
LEGISLATION.
The following are the suggestions contained in the docu.
ment prepared by an eminent commercial authority, portions
of which have been published :
Pro forma View of equalizing the Ammal Revenue and
Expenditure, presuming that the Excise and Assessed
Taxes, and the Stamps on Marine and Fire Assurances,
and also the Duties of Customs (except eight) should be
abolished, and adding Distilled Spirits and Malt, now
under the Excise, to the Customs, and Excise Licenses to
the Stamps : abolishing, all other of the Assessed Taxes.
and the whole Excise establishment.
First. Assuming the total annual expenditure
not to exceed
Revenue necessary to meet this expendi-
ture, to be raised as follows :-
1. From duties on (1) Tea •, (2) Sugar and
Molasses ; (3) Coffee and Cocoa ' • (4) To-
bacco; (5) Distilled Spirits; (6) Wines;
(7) Dried Fruits ; (8) 5pice5...421,500,000
2. Home Distilled £5,000,0001
Spirits
Malt, whe-
ther made at 10,000,000
home or im- 5,000,000

£50,000,000

31,500,000

ported from
abroad-- .... -
3. Stamps, leaving out Marine and Fire In-
purances, and including licenses now under
the Excise
4. Unredeemed Land-tax .........................••
Deficit

7,500,000

1,200,000
9,800,000

£50,000,000

This deficit is to be levied, not by doubling, or rather more
than doubling, the present income-tax, but by the less in-
quisitorial and more direct and equitable plan of an annual
assessment in the pound upon the annual value of all realised
property. And surely 11,000,0001., including the unredeemed
land-tax, out of 50,000,0001. of total taxation, forms but a
small proportion of the total sum to be levied directly.
The reason that we include only eight articles in the Cus•
toms duties, is on the sound principle that if an article is to
be taxed when consumed, it should be so taxed without any
difference being made as to the place where produced ; the
consumer always paying the full market price of the article
be consumes, including every tax upon it.
There is no manufactured article which yields a revenue of
any consequence except silks; which, being an article of
luxury, though not included above, we have less objection to
its being taxed than any other. The duty might be modi-
fied so as to produce 250,000/. a year. Gloves yield 28,000/. ;
woollen manufactures about 1`7,0001.
If Parliament, however, should determine not to abolish
the window and other assessed taxes, except the unredeemed
land-tax, then our pro forma view of financial revenue would
stand as follows :
I. Customs
11. Malt and bome•distilled £31,500,000
spirits 10,000.000
111. Stamps, excluding Marine and Fire In-

surances
IV. Assessed Taxes
V. Deficit to be levied on all realised pro-
perty

7,500,000
4,500,000

6,500,000

Total revenue £50,000,000

INCOME-TAX, COLLECTED IN THE YEAR ENDED
STH APRIL, 1843.
England and Wales :
Schedule A, lands, tene-
ments, &c., in respect of
the property thereof £73,728,429
Schedule 11, lands, age., in
respect of the occupancy
thereof
Schedule C, annuities, di-
vidends, /cc.
Schedule 11, profits or gains
Schedule E, public officers,
&c.

Income.

20,486,606

27,873,691
50,296,645

Tax.

X 2,150,412

298,763

812,983
1,466,9;i5

260,657

£181,322,202 £4,989,800

9,284,383

Scotland :
Schedule A.
Produce of Tax in Scotland
on all the Schedules 394,324
9,284,383/., at 7d. in the pound, should produce 270,794/.,
leaving for the remaining four schedules 123,5301., equal to
394,3241., which sum, collected at the same rate as those
four schedules produced in England, indicates an income of
4,680,9591, showing the total income of Scotland to be
13,965,342/., and of Great Britain 195,287,544/., exclusive
of incomes under 150/.
In 1801, the assessments for England, including
incomes above 150/., amounted to £74,676,894
The income from assessments under 150/. per
annum, and not under 60/., amounted to

18,105,240

Difference, being incomes above 1501. per ann. £56,571,654
Now, if 56,571,654 : 11,10',,240 : : 195,287,544 :
62,499,831 ; and if the incomes under 1501., and above 601.,
from all the schedules be in 1844 in the same proportion to
those above 150/., as in 1801 (and there is no reason that
they should not), then the total income of Great Britain in
1844 should amount to 257,787,375/. We consider that of
this umount 200,000,000/. may be estimated as the rents and
profits of all realised property—viz., the rents and profits on
all lands, tenements, houses, and constructions, including
factories, warehouses, docks, ship-yards, railways, canals,
public funds, Bank of England Stock, East India and South
Sea Stock, and the stock and shares of all Companies whose
stocks and shares are bought and sold in the market.