The Sun.
London, England, 1842-04-04 00:00:00

PEEL'S EQUAL INCOME. TAX.

(From the Examiner.) • .a 4
According to the rude arrangement of Pitt's ineein,
tax, which six and twenty years ago was thought,
tgP
bad, even by the unreformed Parliament, the assessar.
revenue of' the nation was classed under five heads er
schedules ; and Sir Robert Peel's follows the same ar",
rang,ement. Schedule A, or the first class, comprises !V
less than rive descriptions of property, viz., land yield',a7
animal or vegetable products, tithes, house prePer4l
mines and quarries, with canals and railways. From ,
income derived from these mostly distinct sources, °no:.
Robert expects an annual revenue of 1,600,000/ It is
doubt very convenient, for purposes of mystification,
blend these incongruous subjects into one lumping sr,
but the exposnre, which truth demands, requires that
we should consider them one by one. itelD+ ,Y
Sir Robert takes the amount of the first-named
or the land yielding animal and vegetable products—thy
is, of the property, par excellence, .of the great food SilDr
nopolists at what it was in 1814, or 39,400,000/. If
Robert be correct or honest, this shows that the /air.:
rent of England has been stationary for eight-and-twea
Y
years, and that three successive stringent Corn-la"sb, re ,
not only done no good to the landlords, but positli.,
mischief ; for, as will be presently seen, it is the
description of property that has not, within the sau4
time, advanced. The contribution of the lords
the broad acres to the income tax, on the suns re ef '
named, will be about 865,9001.—1itt1e more than half
the produce of Schedule A, and between a fourth
_..„0"
fifth part of the aggregate sum which Sir R. Peel exile
to raise—viz., 3,700,0001. To save twelve millions,
John Russell's very moderate estimate of the v fine of
the corn monopoly, they will pay the moderate fine 0
865,9001., and the remainder of the tax, approaching 1,
three millions, must be paid by those who alreadY ),e'
these twelve millions.
o
The next item we shall inquire into is the tithe. Tht
in 1814, amounted to 2,732,694, and Sir R. Peel' ell. tali;
report of the Tithe Commissioners, takes therreene,'
assessable amount at 3,500,001/ then, tne„bes, •
of land has for twenty years been stationary, the tsrave
which depend for their amount on the same cause, Doi,
increased by above 27 per cent. To account for of
there are but two alternatives—either the ele11:2
1814 made dishonest returns for themselves, er,-ras.
Peel now makes a dishonest return for the lan" co
Let Sir Robert and the Church settle the affair bettwo
them. Out of the 1,600,0001. of schedule A the tithes
art
•
contribute about 78,2961, or about one forty-ellhth P
of the sum to be levied.
Or;
The next head of schedule A is—Mines an and
ries. These were estimated in 1814 at I,3B6,B'w:time,
the best judges are of opinion that, since thalobich
their value has increased by full 50 per cent-,
would make them at present worth above two w"0001,
But Sir R. Peel's assessment is taken only at 1,5 t.
and the produce of the tax will be only 32,96 „ries
ought to be at least 58,0001, but Mines and Qu'rgi
are, for the most part, the property of the aristeeskilt
(their whole rental value being derived from the -la;
and capital of the undertakers and adventurers t
work them), and so they must be spared. in
The next heading is " Railways and Canals,Q',;ll;
technical language called " Shares," valued hY_,_„„LOO
Peel at 3,429,0001, and yielding to his proposedll7-,
tax 75,3601. In the assessment 'of 1814 there 1"„ f• it
heading of this kind at all, and although portions is-res
were no doubt included under other heads, a tel
amount must be considered as a clear accession l.° 010
national income made during the last 28 years. u'ec,
and railways have no more relation to the find Pre' tbsa
by the corn monopoly, economically speaking' thef
steam vessels or cotton factories have, and therefore sis
are absurdly included under the head of land. They
purely of a manufacturing and commercial charsotejiiet!
House Kent is estimated at 25,000,0001., .
sum it has risen from its estimated value in I'd
16,260,0001 This house rent has nothing to
manor-houses, or with farm-houses, or farm-bnualt
included under other heads. In fact, they are, "it' rte
exceptions, the rents of houses in towns, either the
perty of, or occupied by, the commercial and man 04
Luring population, on whose prosperity their value ,fit
increase wholly depend. During the last twentYl,
years this description of property has not only el. 5#
no protection, but for the better part of the 674
borne nearly the whole brunt of the house and old
tax, amounting to upwards of two millions and a 10',,,get
annum. With all this, while the rents of the privP'o.o
property have continued, by Sir Robert lit'elL sr
statement, stationary, house rents have increased w.'rr
wards of 50 per cent., and consequently contribno
portionally one half more to the public revenue thau,pel
petted, bolstered, and swaddled inheritance. The_n bt
sum which it will contribute to the income tax so
about 549,450/. And so much for what Sir R. s--
schedule A call "Land." 1‘
4t5 °
Schedule Bis confined to one subject, the pr,(:4;ao
farmers, and the amount assessed under this 00110
1814 was 38,396,000/. Now there is no one part ocoor
scheme in which Sir Rohert Peel's jugglery is 01°reiifiti
spicuous than this. Under the old tax fitrmers' Pint,
were estimated in England at three-fourths of tile?
and in Scotland at one-half. Sir R. Peel now red' 010
the amount assessed on, to half a rent, and by tbisl33l,
brings the amount liable to taxation down to coot
26,000,0001. "Then," says he, " I mist apply a° jr4
exemption, namely, all tenants who derive profit' for
than 1501 a year ; on that amount I must make
ther reduction, so that, upon the whole, I eann°t
late upon a greater amount of duty than 150,0001 4alei
After striking off one-fourth for all tenants ni'rs,
profits under 1501. a-year, according to the rule obseol
in every other case, the sum available for 0,14411
1,
would be 19,500,0001., which, at 7d. to the pound' °ftie
to have produced, not 150,0004, but 568,7501. WO
actual sum which our juggler has assessed upon'.,.a
out to be no more than 5,142,8501. But how he all
at such a conclusion he does not say, nor can any e'j,
creature, unless a landlord or two in his secret, e'Loro
ture. Thus, therefore, he strikes off, not' the
part, as in all other cases, but four-fifths °' bit
whole : and so he makes a present to the tessal'isi,
virtually to the landlords, and at the cost of their
citizens, of the net sum of 418,750/. ! ! iht
It turns out, then, that four-fifths of the tenants -be
kingdom, as estimated according to rental, and Pr Ili
99 out of 100 according to numbers, will not, by jet 114
Peel's scheme be touched by the tax at all. 130
~00t
give an example. No tenant paying less than .3.13011'
year is subject to the tax. His Grace the Duke of rent
fort has, in the counties of Monmouth and Brecon, at I,
roll of 30,0001. a-year, and not a tenant payine'es, '
only) as much as 300/. a-year. His Graceee
therefore, will not contribute one farthing to the tail to
tax. Earl Grey, has, perhaps, a similar rent' pas,
Northumberland and Durham, and probably not of
paying so little as 3001. a.year. The tenantry f.t,
Grey will, therefore, all contribute to the income,,''--pe
Earl Grey's tenantry have leases, and farm No_1), '
and intelligence. The Duke of Beaufort's are Pv;?6:
pendent, tenants-at-will, who farm much as their 015,
tors of the reign of Henry the Eighth did before red,'
Earl Grey's tenants will contribute to Sir Rolglitg.
trumped-up exigency the sum of 4251 a Ye,
friArtil,
Grace of Beaufort's nil! But to couuterbalaa'orlic
the latter are good at a poll—for returning threelp
members to swell Sir R. Peal's Corn-law maierltry
will appear from this that the income tax is, 50..,01,
penalty on large farms and good farming, and a r„,O-0
on small farms—on tenantry-at-will---on bad far;
and on cringing political slavery. It is at the sa;llo,,i,
a boon to the proprietor of the ill-farmed land,oeds
he pleases, may put every farthing *of Sir
in the pound into his pocket, and who, tO 6
will do so if the tax should last for any lengt11;;;14.
Under the old income tax, as it stood in ``,,ribety
tenants of land, after many exemptions, still el. Of
2,734,450/., or approaching to one-sixth Per p.) rip
whole produce of the tax. The tax was theatrieatz4
cent., and, therefore, they ought now to coa-aid
tie/
the proportion of about three to ten. This o' te
above 600,0004 but they are to contri%uole d,'"se;
150,0001, being, instead of one-sixth of the w'
at•
to be raised, scarcely one twenty-fourth P dh
farmers friends favour the farmers, but, in trtjile,'ll
„iaer
their own pockets ; and the conclusion is illev1":;0 ifirpt,
since the year 1798, they have greatly grown
dente and rapacity.
ed to • ,
But how ought the farmer to be assess twit, sit
income tax We are decidedly
tofpinibjecwer,
ought not, in justice or expediency, be 00'01 tiv,
the tax at all, any more than a merchant or e !
turer. But as these are to pay it, the point W,itivatwi's
consider is, how the capitalist, engaged in theielisirlY,
of the land, ought to be assessed equally andt
common with all other capitalists. italell_AeCe
When a farm is skilfully cultivated, the earid pry
to equal ten times the rent, and the gross awl° in 'rato•
ought to equal five rents in value. The lent' ~.ross•
case, is usually estimated at one-fifth
duce, and the farmer's profit, besides interte:c.oitte f
tal, at three-tenths, the remaining four-ten"' i•nr'rin,Qtbsl
Of the of r:for
all expenses. Let those data be applied tube found 50/.,
farthing less than 3001. a year, and it Will eeetilvers
the profits are 2251., and interest at 5 per ref,
making the farmer's income 3751 Under seoPlt 1,
scheme this capitalist pays nothing, but thes 6cl. • sin-
would, with the same income, an impost of 111 15 ...owe in.
would, no doubt, be unjust and impolitic to
le ia
orse„.. to
a rule as this for the assessment of the who,
terest of England, but then it is ten times Wis totew
trades, professions, and annuities, where 31
possible to frame any fair rule at all. .„.
The rent of land, according to Sir
been
credit
showing, has, as we have already seen,
_to cretll,'
tl
for twenty-eight long years, but if we are_s far e° satc
same great and impartial authority, it.rn:_ito
worse with the farmers. Instead of their cap
increased, as he represents all othe.res
done, it has, under the happy p
positively fallen off from 38,396,0a071•1tc0ut,26:-°-Vire,:pirti
by near one-third part of its whole amooooi "
fifth part of what it gave his pi-F(lns u,,„
need, it can give him but a poor 150,_enest•os_lsj:Ilsfoutisi:i
placeman he is under great obligatieoar
that he is
shA
interest, but as a financier it is c t
We'
s o
Income Tax. air. It
Ye
• - tr
none at all. Enough for thiewpori:egn_tTix._
yinoe.
n
soo;HrEeslummaeulosurrrloeNxaomrinaTtHioun
.of Sir
by the standard of
does not depends foliogs• Air
ors
being consideration in the world
ris on which his nog
buck did not fairly trhs thoNevnqufeeste6o
being rich or poor. The possessio ;
they are
ri:j.4
tation rests are talent and knowledge I „a. h
man. Tbe tradesman would frieniasere—ilt.z,let
knowledge°i oV. eno"'
cares not who
knows
c rtelhdiairtt
Ifßoaorme
bwunecaokltt hsaa)i,mss
man
no
thatea rbsce c a
rts,..
just as .
tl at he is not a man of wealth.
t that there
But let us suppose for a mourn
into the 0.,,/_,0.1
professional ,inquisition to examine_
men, and to r ap4
ments and abilities of professionsl
sulfa
insufficiency, judgment upon their superiority,
abroad that .
nothing objectionable in tea whisper
termed,pinca
as it Is
wffoerueldnt3tlondßispoesbraugclmbeentth; larvontoldhehtilialitHop,
been tried and found wanting, or,