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Subject Area: Economics
Subject Area: Political Theory
Subject Area: Law
Topic: Property

SECTION V.: PRODUCE. - Jeremy Bentham, The Works of Jeremy Bentham, vol. 2 [1843]

Edition used:

The Works of Jeremy Bentham, published under the Superintendence of his Executor, John Bowring (Edinburgh: William Tait, 1838-1843). 11 vols. Vol. 2.

Part of: The Works of Jeremy Bentham, 11 vols.

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SECTION V.

PRODUCE.

To Mr.

Instead of the matter destined for the present section, I must content myself for the present with sending you little more than a blank. I could not have filled it up without attempting to lead you into a labyrinth of calculations, which, after all, I could not render complete, for want of data, without your assistance, and which, if the principle of the measure should not be approved of, would have no claim to notice.

Meantime, as the result of the calculations need not wait for the calculations themselves, and as a supposition of this sort, however imperfectly warranted, may be more satisfactory than a total void, I will beg your indulgence for the following apperçu.

Net annual produce of this resource, upwards of £2,000,000 over and above the expense of collection:—

Expense of Collection.
Escheators and sub-escheators, at 5 per cent. upon the above produce,£100,000
Judicial establishment for the purpose, at 2½ per cent., which I apprehend could not be dispensed with,50,000
Total, at 7½ per cent.£150,000

It is natural I should be over sanguine; but I must confess I should expect to find the above sum below the mark, rather than above it. The calculations in their present state point at three millions; but then there are deductions to be made on one hand, as well as additions on the other.*

For my own part, if it depended upon me, I should be very much disposed to turn my back upon calculations; for if the principle of the resource be but approved of, £200,000 a-year would be as sufficient a warrant for it as £2,000,000, since, whether much or little, it would be all so much clear gain, unfelt by anybody in the shape of a loss.

The calculations, however, such as they are, can be submitted at any time upon a day or two’s notice. They will, at any rate, afford a view of the data the subject affords, of the difficulties to be overcome, and of the uncertainties which are not capable of being cleared up without the aid of parliament.

[* ]The documents resorted to as data for calculation, were the instances of collateral succession in different degrees, compared with those of lineal succession, as indicated by the publications on the peerage. The data thus obtained were digested into Tables, including Scotch and Irish, as well as English and British, existing as well as extinct.—Note added Dec. 9, 1795.