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THE INTRODUCTION. - Sir William Petty, The Economic Writings of Sir William Petty, vol. 1 [1662]

Edition used:

The Economic Writings of Sir William Petty, together with The Observations upon Bills of Mortality, more probably by Captain John Graunt, ed. Charles Henry Hull (Cambridge University Press, 1899), 2 vols.

Part of: The Economic Writings of Sir William Petty, 2 vols.

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THE INTRODUCTION.

1. WHEREAS many are forced1 to pay image of their whole Estates towards the raising of but2 70000 l. per Mensem3 , besides what they pay more insensibly and directly4 , as Customs, Excise, Chimny-Money, &c. (viz. in London, they pay 2d. per Mensem per Pound Rent, that is 2s. per Annum, or image of the whole.) It must come to pass, that the same Persons must from Christmas, 1665. pay ⅓ of their whole Estates, if the War with Holland continue two years longer, at the value of the last years Expence5 , provided His Majesty be kept out of Debt. ‖

2. But if the Publick Charge were laid proportionably, no Man need pay above image of his whole Effects, even in case the Tax should rise to 250 000 l. per Mensem, which God forbid.

3. That is to say, according to the present ways, some pay four times as much more as they ought, or needed; which disproportion is the true and proper Grievance of Taxes, and which must be felt when the Tax happens to be great and extraordinary: Whereas by meer Method and Proportion, the same may be corrected as aforesaid; and withal, just Accounts might be kept of the People, with the respective Increases and Decreases of them, their Wealth, and Foreign Trade.

[1]S omits ‘are forced to.’

[2]D, ‘but of.’

[3]13 Charles II., stat. 2, c. 3 imposed an assessment of £70,000 per month for 18 months, beginning 25 December, 1661.

[4]D, ‘indirectly.’

[5]Apparently an allusion to the assessment of £68,819. 9s. per month for 36 months granted by 16 & 17 Charles II., c. I, beginning 25 December, 1664. To this 17 Charles II., c. I added £52,083. 6s. 8d. per month for 24 months beginning Christmas, 1665.