Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-11-01
Income Tax Largest Source.

Income TAX Largest Source.
The income tax is now the largest
source of revenue of the British govern
ment, having passed the excise tax by
nearly a million dollars during the late
fiscal year, when total of $160, OO3, 900
was collected upon the incomes of a pop
ulation of 4i.JOO,OOO. The gross incomes
levied upon were approximately five oil
lions of dollars and the net incomes
little more than three billions of dollars.
1t has frequently been asserted that Great
Britain is the richest country in the
world, and probably that was true until
a year or so ago when the United States
stepped to the first place; but the figures
will not be available for several years
1t may confidently be expected that the
statisticians will push the United States
from the third to the first place in the list
of nations for wealth per capita of popu-
lation.
Not long ago a writer in the Fortnight
ly Review undertook to show the rate OF
taxation per capita among the several
nations of the earth, and quoted the fol-
lowing comparison from report made
by the German ministry Of finance:
Marks.
France. taxes paid per capita. $40
United States. taxes paid per capita. $50
Germany taxes paid per capita. ......... 4al7
Austria Hungary, taxes paid per capita. 4l.1O
The writer calls attention to the fact
that the evidences Of wealth in Great
Britain are not so great as they formerly
were, and declares that II money Is
cheaper I'm England than elsewhere II is
due to the fact that there Is no demand
for IL in commercial and industrial en-
terprises. He shows that the deposits
in the British savings banks are grow
ing very slowly compared with those Of
other countries and that the investment
of British money in consols is greater
than in other securities because their
market value is so much below par. As
rightly considered, popular savings in
Great Britain are no longer increasing.
and if we allow the interest added to
the deposits they are actually decreasing
During several years the withdrawals
from our savings have exceeded the de-
posits by G2.OOO,OOOOOO a year"
Fewer Large Fortunes.
There has been a good deal Of discussion
lately about the small number of large
fortunes in England. as compared with
those of America, and it has been as
serted that at least twelve men In the
United States are richer than the richest
man in the British empire.
In the official statistical abstract pub
lished by the British government 1t is
recorded that two persons pay taxes upon
more than GS,OOOOOO, which is approx
mately S4OOO.O6O. The next richest tax
pa yers are assessed upon SO UJO,OO. The
two forty mill .onaires are the dukes OF
Westminster and Bedford. The former
has long been known as the richest
man in the British empire, If not III
Europe 1t is doubtful IL he knows what
he is worth, and the $O.OO,OOO with
which he is credited is probably low
estimate of the value of his real estate
without cons .dering his portable prop
erty' as Mr.. Micawbar used to say. He
owns ock after block of business houses
and residences in the heart of the west
end of London, I'm both the fashionable
shopping and residence districts, where
his buildings are all of similar architec-
ture and painted similar color. He
rece YES something like S2JU,oOO year as
ground rents from perpetual leases, as
The family traditions forbid the sale Of
property.
The Duke OF Bedford. the next richest
man in the British empire. OWNS practi-
cally all that section OF London around
Coyent Garden market. several blocks in
extent and also a large portion of the
district known as Bloomsbury, near the
British Museum. He owns Covent Gar
den market and opera house. and the
entire frontage of two or three blocks
adjoining Trafalgar square. HIS income
from real estate IL said to be between two
and three million dollars a year. besides
what he derives from bank stocks, shares
in corporations, mortgages. conso!S and
His revenues from Covent Garden mar
ket are believed to be at least S250,OOO
year
Seldom Seen in Society.
The Duke and Duchess of Bedford are
seldom seen I'm London society. They are
highly esteemed. serious people, who live
simply but with appropriate style at Wo-
burn Abbey during the summer and in
their town house during the winter. en-
pertaining on rare occasions. but with no
taste for the. gay world. Both are of a
religious turn OF mind. are deeply inter
ested in charitable work and have a joint
hobby I'm zoology. The Duchess OF Bed
ford is u director of the Royal Geological
Society. and they have private zoo
of their own at their country place. The
duke has recently published a book en-
titled THE Management of a Great Es-
tate" in which he gives many wise and
valuable suggestions concerning the In
vestment of funds and the handling OF
agricultural property.
A study of the income tax returns in
Great Britain shows that 90 persons and
firms are assessed upon S25O.OoO or more,