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some considerations of the lowering of interest-第15章

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ent he pays; be divided。 From hence it is evident; That Taxes laid on Land do not in the least make Rents fall。     But suppose; to shift off the Burthen from the Land; some Country Gentlemen should think fit to raise these three Millions upon Commodities; to let the Land go free。 First; it is to be consider'd; That since the publick Wants require three Millions; (for that we supos'd for Argument sake; let it be three Millions; or one Million; that's all one;) and so much must go into the King's Coffers; or else the Necessities of the Government will not be supplied; That for raising these three Millions on Commodities; and bringing so much into the Exchequer; there must go a great deal more than three Millions out of the Subjects Pockets。 For a Tax of that nature cannot be levied by Officers; to watch every little Rivulet of Trade; without a great Charge; especially at first trial。 But supposing no more Charge in raising it; than of a Land Tax; and that there are only three Millions to be paid; 'tis evident that to do this out of Commodities; they must to the Consumer be raised a quarter in their Price; so that every thing; to him that uses it; must be a quarter dearer。 Let us see now who at long run must pay this quarter; and where it will light。 'Tis plain; the Merchant and Broker; neither will nor can; for if he pays a quarter more for Commodities than he did; he will sell them at a Price proportionably raised。 The poor Labourer and Handicraftsman cannot: For he just lives from hand to mouth already; and all his Food; Clothing and Utensils; costing a quarter more than they did before; either his Wages must rise with the Price of things; to make him live; or else; not being able to maintain himself and Family by his Labour; he comes to the Parish; and then the Land bears the Burthen a heavier way。 If the Labourer's Wages be rais'd in proportion to the encreas'd Rates of things; the Farmer; who pays a quarter more for Wages; as well as all other things; whilst he sells his Corn and Wool; either at the same rate; or lower; at the Market; (since the Tax laid upon it makes People less forward to buy) must either have his Rent abated; or else break and run away in his Landlord's Debt: And so the yearly Value of the Land is brought down。 And who then pays the Tax at the Years end; but the Landlord: When the Tenant; not able to raise his Rent by his Commodities; either runs away in his Landlord's Debt; or cannot be continued in the Farm without abatement of Rent? For when the yearly charge in his Farm is greater by the increase of the Labourers Wages; and yet his product Sells cheaper by reason of the Tax laid on his Commodities; how will the Farmer be able to make up his Rent at Quarter…Day? For this may be worth our Notice; that any Tax laid on Foreign Commodities in England; raises its price; and makes the Importer get more for his Commodity。 But on the contrary a Tax laid on your Native Product; and home…made Commodities; lessens their price; and makes them yield less to the first Seller。     The Reason whereof is plain。 For the Merchant Importing no Commodity but what the necessity; or fashionable Wantonness of your People gives him Vent for; will not only proportion his Gain; to the Cost and Risque which he has been at before Landing; but will expect profit of his Money paid here; for any Tax laid on it; and take advantage from thence to raise his price above what his Tax comes to; and if he cannot do that; he will Trade no more in that Commodity。 For it being not the Product of his Farm; he is not tied to bring it to Market; if he finds its price not answer his Expectation there; but turns himself to other Wares; which he finds your Markets take off better。 A Merchant will never continue to Trade in Wares; which the change of Fashion; or Humour; amongst your People; has made less vendible; though he may be sometimes caught by a sudden alteration。 But that seldom happens in the course of Trade; so as to influence the great bulk of it。 For things of Necessity must still be had; and things of Fashion will be had as long as Men have Money or Credit; whatever Rates they cost; and the rather because they are dear。 For it being Vanity not Use that makes the Expensive Fashion of your People; the Emulation is; who shall have the finest; that is; the dearest things; not the most convenient or useful。 How many things do we value or buy; because they come at dear rates from Japan and China; which if they were our own Manufacture or Product; common to be had; and for a little Money; would be contemned and neglected? Have not several of our own Commodities offered to Sale at reasonable Rates been despised; and the very same eagerly bought and brag'd of; when sold for Fiench at a double Price? You must not think therefore that the raising their Price will lessen the Vent of Fashionable Foreign Commodities amongst you; as long as Men have any way to purchase them; but rather increase it。 French Wine is become a Modish Drink amongst us; and a Man is asham'd to Entertain his Friend; or almost to Dine himself Without it。 The Price is in the Memory of Man rais'd from 6 d。 to 2 s。 and does this hinder the Drinking of it? No; the quite contrary; a Man's way of Living is commended; because he will give any Rate for it: And a Man will give any Rate rather than pass for a poor Wretch; or Penurious Curmudgeon; that is not able or knows not how to live well; nor use his Friends civilly。 Fashion is for the most part nothing but the Ostentation of Riches; and therefore the high price of what serves to that; rather increases than lessens its Vent。 The contest and glory is in the Expence; not the Usefulness of it; and People are then thought; and said to live well; when they can make a shew of rare and foreign things; and such as their Neighbours cannot go to the Price of。     Thus we see how Foreign Commodities fall not in their Price by Taxes laid on them; because the Merchant is not necessitated to bring to your Market any but Fashionable Commodities; and those go off the better for their high rate。 But on the contrary your Landholder being forced to bring his Commodities to Market; such as his Land and Industry affords them; common and known things; must sell them there at such price as he can get。 This the buyer knows; and these home…bred Commodities being seldom; the Favourites of your People; or any farther acceptable; than as great conveniency recommends them to the Vulgar; or downright necessity to all; as soon as a Tax is laid on them; every one makes as sparing a use of them as he can; that he may save his Money for other necessary; or creditable Expences; whereby the price they yield the first Seller is mightily abated; and so the yearly value of the Land; which produces them; lessen'd too。     If therefore the laying of Taxes upon Commodities does; as it is evident; affect the Land; that is out at Rack…rent; it is plain it does equally affect all the other Land in England too; and the Gent。 will; but the worst way; increase their own Charges; that is by lessening the Yearly Value of their Estates; if they hope to ease their Land; by charging Commodities。 It is in vain in a Country whose great Fund is Land; to hope to lay the publick charge of the Government on any thing else; there at last it will terminate。 The Merchant (do what you can) will not bear it; the Labourer cannot; and therefore the Landholder must: And whether he were best do it; by laying it directly; where it will at last settle; or by letting it come to him by the sinking of his Rents; which when they are once fallen every one knows are not easily raised again; let him consider。     Holland is brought as an instance of laying the Charge of the publique upon Trade; and 'tis possibly (excepting some few small Free Towns) the only place in the World that could be brought to favour this way。 But yet when examin'd will be found to shew the quite contrary; and be a clear Proof; that lay the Taxes how you will; Land every where; in proportion; bears the greater share of the burthen。 The publick Charge of the Government; 'tis said; is; in the United Provinces; laid on Trade。 I grant it is; the greatest part of it; But is the Land Excus'd or Eas'd by it? By no means; but on the contrary so lo

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