Taxation.

As to taxation, I may say that I am in favour of page 145 the present system. The present property tax I consider a very fair one indeed. The more property a man has, the more he should pay for its protection. Some may object that those who have large incomes and spend them all should pay an income tax. But the customs gain by their expenses, and, indeed, they undoubtedly pay the most taxes of any. I believe that a poll tax is, theoretically a very fair one. The person and the property are all that are taxable to and by man, and all that require protection. If we touch the one, there seems no reason why the other should be forgotten. The good wills of businesses might also be taxed. For the goodwill is a property, and often saleable for a large sum of money. The difficulty might be in valuing that goodwill. I am in favour also of direct taxation as far as possible. Direct taxation is the taxation of light; indirect taxation is the taxation of darkness; and the reason why men prefer the one to the other is just in this case as in many others, because their deeds are evil. Taxes also should be reasonable and moral. Take for instance one with which we are all familiar, the penny stamp on cheques and receipts. Why should we be charged such? It cannot be wrong to draw our money out of a bank if we have any in it, and it cannot be wrong to receive money if it is our due The argument that it is expedient for revenue page 146 purposes is absurd in the face of the fact that there are other taxes every way more proper, which can be added to. Lord Beaconsfield was the author of the stamps on cheques. But his authority and his great genius seemed to have split partnership herein.

The tax on Bills of Exchange seems also indefensible. If it be wrong to give the bill, then it should be prohibited. If it be right, then it should be allowed. Evil, and not good, should be run down.