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The Pamphlet Collection of Sir Robert Stout: Volume 14

47.—The neglect stereotyped

47.—The neglect stereotyped.

In the following year (1698) the same sum of £1,484,015 1s. 11d. was voted, and ordered by Parliament to be raised in precisely the same manner; and the only exception that I have observed for the hundred years from 1697 to 1798, when the amount then levied was made perpetual, to the mode now adopted, is in the 1st Anne (1702), which specified the amount; but I do not find that any rate is to be levied on any personal property except public offices—which shows that the principle of the enactment of 1697 has continued to he approved of by a majority in Parliament: thus depriving the State of a growing revenue in proportion to the increased value of property, which undoubtedly was the intention of Parliament in repeatedly enacting that the rate should be levied on the full true yearly value at the time of making the assessment.

The following table presents at one view the amounts annually levied in England from the Revolution to the present time, on lands and other real and personal property by various acts in the nature of and under those commonly called the Land Tax. In addition, since the union with Scotland in 1706, for every sum of £1,997,763 contributed by England the quota of the latter has been £48,000, and in like proportion for any greater or lesser sum. Thus by—

1 W. & M. c. 3, 1089. 1. Real and personal estate to contribute £68,820 a month for 6 months, as by 29 Car. II. c. 1, to be assessed equally by a pound rate on all lands, tenements, hereditaments, annuities, rent charges, and other rents, parks, warrens, goods, chattels, stock, merchandise, offices (other than military or naval), tolls, profits, and all other estates both real and personal. Personal estate being rated not on the value but on £0 per £100, the interest thereof, thus rating both descriptions of property alike, produced ' £412,925 1 W. & M.c. 20, 1689. 1s. per pound on real estate assessed on the bona fide rack rent, and personal estate 6s. for every £100 of value thereof, or Is. in the pound on £6 the then legal rate of interest (debts, stock on land and household goods exempted), produced † £496,108 1 W. & M. Sess.2c.l. 2s. per £, on real estate, and personal estate 12s. per £100 as above, produced † £1,015,732 1 W. & M. Sess. 2 c. 5, 1689. 1s. per £1 on real estate, and personal estate 6s. per £100, as above, produced † £507,866 2W. & M. Sess. 2 c. 1, 1690. 3. Real and personal estate, including stock on land, to contribute by an equal pound rate, as by 1W. & M. c. 3, the specified sura of ... ... ... ... £1,651,702 3 W. 8c M. c. 5, 1691. Ditto, ditto ... ... ... ... ... ... ... ... £1,051,702

Synopsis of Land Tax Acts and Their Annual Product.

page 195

4 W. & M. c. 1, 1692. 4. 4s. per £1 on real estate, assessed on the bona fide rack rent, and personal estate 24s. per £100, or 4s. in the pound on £6 the annual value thereof, stock on land and household goods exempted, produced † ...