wealbk05-第47章

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money　is　to　be　paid　in　full　compensation　for　all　tax　or　tithe；

the　tax　becomes；　in　this　case；　exactly　of　the　same　nature　with

the　land…tax　of　England。　It　neither　rises　nor　falls　with　the　rent

of　the　land。　It　neither　encourages　nor　discourages　improvement。

The　tithe　in　the　greater　part　of　those　parishes　which　pay　what　is

called　a　Modus　in　lieu　of　all　other　tithe　is　a　tax　of　this　kind。

During　the　Mahometan　government　of　Bengal；　instead　of　the　payment

in　kind　of　a　fifth　part　of　the　produce；　a　modus；　and；　it　is　said；

a　very　moderate　one；　was　established　in　the　greater　part　of　the

districts　or　zemindaries　of　the　country。　Some　of　the　servants　of

the　East　India　Company；　under　pretence　of　restoring　the　public

revenue　to　its　proper　value；　have；　in　some　provinces；　exchanged

this　modus　for　a　payment　in　kind。　Under　their　management　this

change　is　likely　both　to　discourage　cultivation；　and　to　give　new

opportunities　for　abuse　in　the　collection　of　the　public　revenue

which　has　fallen　very　much　below　what　it　was　said　to　have　been

when　it　first　fell　under　the　management　of　the　company。　The

servants　of　the　company　may；　perhaps；　have　profited　by　this

change；　but　at　the　expense；　it　is　probable；　both　of　their　masters

and　of　the　country。　

　　　　　　　　　　　　　　　　Taxes　upon　the　Rent　of　House。　

　　　　　The　rent　of　a　house　may　be　distinguished　into　two　parts；　of

which　the　one　may　very　properly　be　called　the　Building…rent；　the

other　is　commonly　called　the　Ground…rent。

　　　　　The　building…rent　is　the　interest　or　profit　of　the　capital

expended　in　building　the　house。　In　order　to　put　the　trade　of　a

builder　upon　a　level　with　other　trades；　it　is　necessary　that　this

rent　should　be　sufficient；　first；　to　pay　him　the　same　interest

which　he　would　have　got　for　his　capital　if　he　had　lent　it　upon

good　security；　and；　secondly；　to　keep　the　house　in　constant

repair；　or；　what　comes　to　the　same　thing；　to　replace；　within　a

certain　term　of　years；　the　capital　which　had　been　employed　in

building　it。　The　building…rent；　or　the　ordinary　profit　of

building；　is；　therefore；　everywhere　regulated　by　the　ordinary

interest　of　money。　Where　the　market　rate　of　interest　is　four　per

cent　the　rent　of　a　house　which；　over　and　above　paying　the

ground…rent；　affords　six　or　six　and　a　half　per　cent　upon　the

whole　expense　of　building；　may　perhaps　afford　a　sufficient　profit

to　the　builder。　Where　the　market　rate　of　interest　is　five　per

cent；　it　may　perhaps　require　seven　or　seven　and　a　half　per　cent。

If；　in　proportion　to　the　interest　of　money；　the　trade　of　the

builder　affords　at　any　time　a　much　greater　profit　than　this；　it

will　soon　draw　so　much　capital　from　other　trades　as　will　reduce

the　profit　to　its　proper　level。　If　it　affords　at　any　time　much

less　than　this；　other　trades　will　soon　draw　so　much　capital　from

it　as　will　again　raise　that　profit。

　　　　　Whatever　part　of　the　whole　rent　of　a　house　is　over　and　above

what　is　sufficient　for　affording　this　reasonable　profit　naturally

goes　to　the　ground…rent；　and　where　the　owner　of　the　ground　and

the　owner　of　the　building　are　two　different　persons；　is；　in　most

cases；　completely　paid　to　the　former。　This　surplus　rent　is　the

price　which　the　inhabitant　of　the　house　pays　for　some　real　or

supposed　advantage　of　the　situation。　In　country　houses　at　a

distance　from　any　great　town；　where　there　is　plenty　of　ground　to

choose　upon；　the　ground…rent　is　scarce　anything；　or　no　more　than

what　the　ground　which　the　house　stands　upon　would　pay　if　employed

in　agriculture。　In　country　villas　in　the　neighborhood　of　some

great　town；　it　is　sometimes　a　good　deal　higher；　and　the　peculiar

conveniency　or　beauty　of　situation　is　there　frequently　very　well

paid　for。　Ground…rents　are　generally　highest　in　the　capital；　and

in　those　particular　parts　of　it　where　there　happens　to　be　the

greatest　demand　for　houses；　whatever　be　the　reason　of　that

demand；　whether　for　trade　and　business；　for　pleasure　and　society；

or　for　mere　vanity　and　fashion。

　　　　　A　tax　upon　house…rent；　payable　by　the　tenant　and

proportioned　to　the　whole　rent　of　each　house；　could　not；　for　any

considerable　time　at　least；　affect　the　building…rent。　If　the

builder　did　not　get　his　reasonable　profit；　he　would　be　obliged　to

quit　the　trade；　which；　by　raising　the　demand　for　building；　would

in　a　short　time　bring　back　his　profit　to　its　proper　level　with

that　of　other　trades。　Neither　would　such　a　tax　fall　altogether

upon　the　ground…rent；　but　it　would　divide　itself　in　such　a　manner

as　to　fall　partly　upon　the　inhabitant　of　the　house；　and　partly

upon　the　owner　of　the　ground。

　　　　　Let　us　suppose；　for　example；　that　a　particular　person　judges

that　he　can　afford　for　house…rent　an　expense　of　sixty　pounds　a

year；　and　let　us　suppose；　too；　that　a　tax　of　four　shillings　in

the　pound；　or　of　one…fifth；　payable　by　the　inhabitant；　is　laid

upon　house…rent。　A　house　of　sixty　pounds　rent　will　in　this　case

cost　him　seventy…two　pounds　a　year；　which　is　twelve　pounds　more

than　he　thinks　he　can　afford。　He　will；　therefore；　content　himself

with　a　worse　house；　or　a　house　of　fifty　pounds　rent；　which；　with

the　additional　ten　pounds　that　he　must　pay　for　the　tax；　will　make

up　the　sum　of　sixty　pounds　a　year；　the　expense　which　he　judges　he

can　afford；　and　in　order　to　pay　the　tax　he　will　give　up　a　part　of

the　additional　conveniency　which　he　might　have　had　from　a　house

of　ten　pounds　a　year　more　rent。　He　will　give　up；　I　say；　a　part　of

this　additional　conveniency；　for　he　will　seldom　be　obliged　to

give　up　the　whole；　but　will；　in　consequence　of　the　tax；　get　a

better　house　for　fifty　pounds　a　year　than　he　could　have　got　if

there　had　been　no　tax。　For　as　a　tax　of　this　kind　by　taking　away

this　particular　competitor；　must　diminish　the　competition　for

houses　of　sixty　pounds　rent；　so　it　must　likewise　diminish　it　for

those　of　fifty　pounds　rent；　and　in　the　same　manner　for　those　of

all　other　rents；　except　the　lowest　rent；　for　which　it　would　for

some　time　increase　the　competition。　But　the　rents　of　every　class

of　houses　for　which　the　competition　was　diminished　would

necessarily　be　more　or　less　reduced。　As　no　part　of　this

reduction；　however；　could；　for　any　considerable　time　at　least；

affect　the　building…rent；　the　whole　of　it　must　in　the　long…run

necessarily　fall　upon　the　ground…rent。　The　final　payment　of　this

tax；　therefore；　would　fall　partly　upon　the　inhabitant　of　the

house；　who；　in　order　to　pay　his　share；　would　be　obliged　to　give

up　a　part　of　his　conveniency；　and　partly　upon　the　owner　of　the

ground；　who；　in　order　to　pay　his　share；　would　be　obliged　to　give

up　a　part　of　his　revenue。　In　what　proportion　this　final　payment

would　be　divided　between　them　it　is　not　perhaps　very　easy　to

ascertain。　The　division　would　probably　be　very　different　in

different　circumstances；　and　a　tax　of　this　kind　might；　according

to　those　different　circumstances；　affect　very　unequally　both　the

inhabitant　of　the　house　and　the　owner　of　the　ground。

　　　　　The　inequality　with　which　a　tax　of　this　kind　might　fall　upon

the　owners　of　different　ground…rents　would　arise　altogether　from

the　accidental　inequality　of　this　division。　But　the　inequality

with　which　it　might　fall　upon　the　inhabitants　of　different　houses

would　arise　not　only　from　this；　but　from　another　cause。　The

proportion　of　the　expense　of　house…rent　to　the　whole　expense　of

living　is　different　in　the　different　degrees　of　fortune。　It　is

perhaps　highest　in　the　highest　degree；　and　it　diminishes

gradually　through　the　inferior　degrees；　so　as　in　general　to　be

lowest　in　the　lowest　degree。　The　necessaries　of　life　occasion　the

great　expense　of　the　poor。　They　find　it　difficult　to　get　food；

and　the　greater　part　of　their　little　revenue　is　spent　in　getting

it。　The　luxuries　and　vanities　of　life　occasion　the　principal

expense　of　the　rich；　and　a　magnificent　house　embellishes　and　sets

off　to　the　best　advantage　all　the　other　luxuries　and　vanities

which　they　possess。　A　tax　upon　house…rents；　therefore；　would　in

general　fall　heaviest　upon　the　rich