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CHAP. VII.: The Collateral Advantages of these Taxes. - 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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CHAP. VII.

The Collateral Advantages of these Taxes.

1. BEsides the equality of Taxes, we make this further use of trying it by way of Customs, Poles, Excises, Chimney-money, Land-tax, and Assesments upon the personal Estates, viz.

  • (1.) Of the Customs, which we reduce from image to image, to keep an account of Foreign-‖ Trade, and of its Balance; for by Levying, a Duty, and encreasing the Penalty, these Accounts will be less obscured.
  • (2.) The simple and universal Pole keeps an account of the great Wealth and Strength of the Kingdom, the People.
  • (3.) Rating the Houses per Chimney, gives a good account of Improvements and Dilapidations.
  • (4.) Excize gives an account of Domestick Expences, and publisheth Exorbitances.
  • (5.) Land-taxes keep the Payments to the proportion of entire value, not of Annual Rent: So as an Estate in Housing pays no more than if it were in Lands, nor considerable less than Goods, and may bring Mortgages to their just contribution; many Lenders not being so formidable for their Money, as some have thought them.
  • (6.) Assessments upon personal Estates (if given in as elsewhere upon Oath) would bring that Branch which of it self is most dark, to a sufficient clearness.

2. There is also a Pole upon Titles and Dignities worth consideration, tho we now omit it; which as it may check mens forwardness to undeserved Pre-eminence, so it may be employed in the encouragement of true worth. ‖

3. We have hitherto computed the old immutable Revenue at but 130,000l. per annum, nor supposed above 170,000l. (viz. less than ½ what it is at present) to be raised by Customs (wholly neglecting Wards, Butlerage, Aulnage, and other obsolete Imposts.) We have also designed the several Proportions towards the raising of a Million more per Ann. to be raised by the Pole, Excise, Land-Tax, Assessments and Chimneys.