The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-08-01
Ghegntelliqttrter
Revelation OF the English Tax
Returns,

keLuEuSs
The London Times publishes an elabor.
ate analysis of the Income Tax returns o.
England and Wales for the past thirty
two years. Some interesting facts show
ing the increase Of material prosperity
during that period are to bo found in 4
study OF the document. r...t
The Income Tax dates its origin from
1898. In that year this form Of imposI
was introduced by Pitt, to deiray the ex
penses OF the French War. All British
incomes above eco, or $500, were taxed
with relief to those under 1000 year,
the rate falling with the income from ten
per csnt'tO fye-sixths Of one per cent
In 1902 the tax was repealed, the war
being at an end, but in the following year
the war again broke out and the tax was
reimposed with regreSsivc rate on in
comes ranging between 500 and
$500, from five per cent, the highest, to
Gye.sixth Of one per cent, the
lowest. In 1906 the lowest limit
was pushed down to $3.50, and "A
rate OF ten per cent imposed on all
alike, with an abatement for those
under $3.50. In 1916 tho tax was
abolished, peace being proclaimed.
In 1912 the deficiencies remaining
from previous administrations inl.
PEELED Sir Robert Peel TO reimposG
the tax for three years, the general rate
being sevenpence in the pound-a frac'
tion less than three per cent-on' in
comes above $3.50, those falling below
that SUN being exempt The tax has
been continued since that time by sue.
cessive votes, the rates frequently vary
ing and the details receiving frequent
notifications. Until a few weeks since
the latest arrangement fixed the mimi
mum at $500, with an abatement OF $500
on all incomes between $500 and 81 800,
the general rate being twopence in the
pound, or fivc.siHths Of one per cent. The
income tax voted few weeks since in
creased the rate to iourpence in the
pound, or one and two-thirds per cent,
but raised the standard of lowest limit,
40 that fewer persons have to bear the
burden.
The notifications Of detail in the i'm
position OF the tax render it difficult TO
obtain strictly accurate comparison OF
the values at different periods npon
which the tax was levied, but reasona'
bic approximation can be made. Com.
pairing tho three decades il is found that
the profits of land showed an average an
nual increase during the ten years 1913
63 OF SiGO, 900; during lS6l-G3 Of 81 ,959,-
600; and during lsGi-7l OF. S9,G3S, 900.
In the same periods the annual average
increase Of profits from houses had been
$9,5S7,5OO, $G,26S,9OO, and $l2,SO9, 9,SG5.
Profits from house property have risen in
the last thirty years l27 per cent. Profits
from railways have nearly quadrupled
since 1919. In that year the returned
profits were about S2O,OOO,O0O; in 1873
they were $lOS,OOOOOO, an increase Of
SO 100000. Canal profits increased at Il
moderate rate. Iron works show M Nv
crage annual increase Of profits during
the nine years ending with 1878 Of
$l,6l2,OOO, or M increase in 1873 over
the profits OF lS49 Of SIS, ,422,OOO.
But the most significant feature Of the
returns is the increase Of income from
"Trades and Professions" Considerably
more than third OF the whole national
income taxed is now derived from that
source, whilc this part was only fourth
of the total OF lS4S, and about fifth in
1915. Against S26S,93O,74O taxed in
lS4S the amount in 1874 was $744, ,26s,-
G55, nearly three times what it was thirty
years before. The annual average in-
crease for the last decade was nearly
thirty.ono million dollars, or moro than
eighty times the average annual increase
OF the first decade. 4
Taking the whole amount Of income as
s6ssed for taxation, excluding funded
property and government salaries and
making some other corrections, the plo-
fits Of productive and business capital
and labor increased in annual average
during the period 1s4S.53 to the amount
Of S5,4G7,445; during the period lS54'GS
it increased annually s22, ,6lO,SOOi during
the period 1S64.74 il increased annually
S7,192,975.