wealbk05-第50章

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employer　would　likewise　remain　the　same；　that　risk　and　trouble

being　in　no　respect　altered。　The　residue；　therefore；　that　portion

which　belongs　to　the　owner　of　the　stock；　and　which　pays　the

interest　of　money；　would　necessarily　remain　the　same　too。　At

first　sight；　therefore；　the　interest　of　money　seems　to　be　a

subject　as　fit　to　be　taxed　directly　as　the　rent　of　land。

　　　　　There　are；　however；　two　different　circumstances　which　render

the　interest　of　money　a　much　less　proper　subject　of　direct

taxation　than　the　rent　of　land。

　　　　　First；　the　quantity　and　value　of　the　land　which　any　man

possesses　can　never　be　a　secret；　and　can　always　be　ascertained

with　great　exactness。　But　the　whole　amount　of　the　capital　stock

which　he　possesses　is　almost　always　a　secret；　and　can　scarce　ever

be　ascertained　with　tolerable　exactness。　It　is　liable；　besides；

to　almost　continual　variations。　A　year　seldom　passes　away；

frequently　not　a　month；　sometimes　scarce　a　single　day；　in　which

it　does　not　rise　or　fall　more　or　less。　An　inquisition　into　every

man's　private　circumstances；　and　an　inquisition　which；　in　order

to　accommodate　the　tax　to　them；　watched　over　all　the　fluctuations

of　his　fortunes；　would　be　a　source　of　such　continual　and　endless

vexation　as　no　people　could　support。

　　　　　Secondly；　land　is　a　subject　which　cannot　be　removed；　whereas

stock　easily　may。　The　proprietor　of　land　is　necessarily　a　citizen

of　the　particular　country　in　which　his　estate　lies。　The

proprietor　of　stock　is　properly　a　citizen　of　the　world；　and　is

not　necessarily　attached　to　any　particular　country。　He　would　be

apt　to　abandon　the　country　in　which　he　was　exposed　to　a　vexatious

inquisition；　in　order　to　be　assessed　to　a　burdensome　tax；　and

would　remove　his　stock　to　some　other　country　where　he　could

either　carry　on　his　business；　or　enjoy　his　fortune　more　at　his

ease。　By　removing　his　stock　he　would　put　an　end　to　all　the

industry　which　it　had　maintained　in　the　country　which　he　left。

Stock　cultivates　land；　stock　employs　labour。　A　tax　which　tended

to　drive　away　stock　from　any　particular　country　would　so　far　tend

to　dry　up　every　source　of　revenue　both　to　the　sovereign　and　to

the　society。　Not　only　the　profits　of　stock；　but　the　rent　of　land

and　the　wages　of　labour　would　necessarily　be　more　or　less

diminished　by　its　removal。

　　　　　The　nations；　accordingly；　who　have　attempted　to　tax　the

revenue　arising　from　stock；　instead　of　any　severe　inquisition　of

this　kind；　have　been　obliged　to　content　themselves　with　some　very

loose；　and；　therefore；　more　or　less　arbitrary；　estimation。　The

extreme　inequality　and　uncertainty　of　a　tax　assessed　in　this

manner　can　be　compensated　only　by　its　extreme　moderation；　in

consequence　of　which　every　man　finds　himself　rated　so　very　much

below　his　real　revenue　that　he　gives　himself　little　disturbance

though　his　neighbour　should　be　rated　somewhat　lower。

　　　　　By　what　is　called　the　land…tax　in　England；　it　was　intended

that　stock　should　be　taxed　in　the　same　proportion　as　land。　When

the　tax　upon　land　was　at　four　shillings　in　the　pound；　or　at

one…fifth　of　the　supposed　rent；　it　was　intended　that　stock　should

be　taxed　at　one…fifth　of　the　supposed　interest。　When　the　present

annual　land…tax　was　first　imposed；　the　legal　rate　of　interest　was

six　per　cent。　Every　hundred　pounds　stock；　accordingly；　was

supposed　to　be　taxed　at　twenty…four　shillings；　the　fifth　part　of

six　pounds。　Since　the　legal　rate　of　interest　has　been　reduced　to

five　per　cent　every　hundred　pounds　stock　is　supposed　to　be　taxed

at　twenty　shillings　only。　The　sum　to　be　raised　by　what　is　called

the　land…tax　was　divided　between　the　country　and　the　principal

towns。　The　greater　part　of　it　was　laid　upon　the　country；　and　of

what　was　laid　upon　the　towns；　the　greater　part　was　assessed　upon

the　houses。　What　remained　to　be　assessed　upon　the　stock　or　trade

of　the　towns　（for　the　stock　upon　the　land　was　not　meant　to　be

taxed）　was　very　much　below　the　real　value　of　that　stock　or　trade。

Whatever　inequalities；　therefore；　there　might　be　in　the　original

assessment　gave　little　disturbance。　Every　parish　and　district

still　continues　to　be　rated　for　its　land；　its　houses；　and　its

stock；　according　to　the　original　assessment；　and　the　almost

universal　prosperity　of　the　country；　which　in　most　places　has

raised　very　much　the　value　of　all　these；　has　rendered　those

inequalities　of　still　less　importance　now。　The　rate；　too；　upon

each　district　continuing　always　the　same；　the　uncertainty　of　this

tax　so　far　as　it　might　be　assessed　upon　the　stock　of　any

individual；　has　been　very　much　diminished；　as　well　as　rendered　of

much　less　consequence。　If　the　greater　part　of　the　lands　of

England　are　not　rated　to　the　land…tax　at　half　their　actual　value；

the　greater　part　of　the　stock　of　England　is；　perhaps；　scarce

rated　at　the　fiftieth　part　of　its　actual　value。　In　some　towns　the

whole　land…tax　is　assessed　upon　houses；　as　in　Westminster；　where

stock　and　trade　are　free。　It　is　otherwise　in　London。

　　　　　In　all　countries　a　severe　inquisition　into　the　circumstances

of　private　persons　has　been　carefully　avoided。

　　　　　At　Hamburg　every　inhabitant　is　obliged　to　pay　to　the　state

one…fourth　per　cent　of　all　that　he　possesses；　and　as　the　wealth

of　the　people　of　Hamburg　consists　principally　in　stock；　this　tax

may　be　considered　as　a　tax　upon　stock。　Every　man　assesses

himself；　and；　in　the　presence　of　the　magistrate；　puts　annually

into　the　public　coffer　a　certain　sum　of　money　which　he　declares

upon　oath　to　be　one…fourth　per　cent　of　all　that　he　possesses；　but

without　declaring　what　it　amounts　to；　or　being　liable　to　any

examination　upon　that　subject。　This　tax　is　generally　supposed　to

be　paid　with　great　fidelity。　In　a　small　republic；　where　the

people　have　entire　confidence　in　their　magistrates；　are　convinced

of　the　necessity　of　the　tax　for　the　support　of　the　state；　and

believe　that　it　will　be　faithfully　applied　to　that　purpose；　such

conscientious　and　voluntary　payment　may　sometimes　be　expected。　It

is　not　peculiar　to　the　people　of　Hamburg。

　　　　　The　canton　of　Unterwald　in　Switzerland　is　frequently　ravaged

by　storms　and　inundations；　and　is　thereby　exposed　to

extraordinary　expenses。　Upon　such　occasions　the　people　assemble；

and　every　one　is　said　to　declare　with　the　greatest　frankness　what

he　is　worth　in　order　to　be　taxed　accordingly。　At　Zurich　the　law

orders　that；　in　cases　of　necessity；　every　one　should　be　taxed　in

proportion　to　his　revenue…　the　amount　of　which　he　is　obliged　to

declare　upon　oath。　They　have　no　suspicion；　it　is　said；　that　any

of　their　fellow…citizens　will　deceive　them。　At　Basel　the

principal　revenue　of　the　state　arises　from　a　small　custom　upon

goods　exported。　All　the　citizens　make　oath　that　they　will　pay

every　three　months　all　the　taxes　imposed　by　the　law。　All

merchants　and　even　all　innkeepers　are　trusted　with　keeping

themselves　the　account　of　the　goods　which　they　sell　either　within

or　without　the　territory。　At　the　end　of　every　three　months　they

send　this　account　to　the　treasurer　with　the　amount　of　the　tax

computed　at　the　bottom　of　it。　It　is　not　suspected　that　the

revenue　suffers　by　this　confidence。

　　　　　To　oblige　every　citizen　to　declare　publicly　upon　oath　the

amount　of　his　fortune　must　not；　it　seems；　in　those　Swiss　cantons

be　reckoned　a　hardship。　At　Hamburg　it　would　be　reckoned　the

greatest。　Merchants　engaged　in　the　hazardous　protects　of　trade

all　tremble　at　the　thoughts　of　being　obliged　at　all　to　expose　the

real　state　of　their　circumstances。　The　ruin　of　their　credit　and

the　miscarriage　of　their　projects；　they　foresee；　would　too　often

be　the　consequence。　A　sober　and　parsimonious　people；　who　are

strangers　to　all　such　projects；　do　not　feel　that　they　have

occasion　for　any　such　concealment。

　　　　　In　Holland；　soon　after　the　exaltation　of　the　late　Prince　of

Orange　to　the　stadtholdership；　a　tax　of　two　per　cent；　or　the

fiftieth　penny；　as　it　was　called；　was　imposed　upon　the　whole

substance　of　every　citizen。　Every　citizen　assesse