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Updated: June 21, 2025
The impossibility of taxing the people, in proportion to their revenue, by any capitation, seems to have given occasion to the invention of taxes upon consumable commodities.
It is not only with respect to consumable goods including domestic animals that the canons of taste have been colored by the canons of pecuniary reputability. Something to the like effect is to be said for beauty in persons. These traits are in some measure accepted as elements of personal beauty.
It related that more than two years previously one Patrick Joseph Brady had departed this life, and that his will, dated from a multitudinous address in New York, devised and bequeathed to his dearly beloved sister Mary Eileen Makebelieve, otherwise Brady, the following shares and securities for shares, to wit: and the thereinafter mentioned houses and messuages, lands, tenements, hereditaments and premises, that was to say: and all household furniture, books, pictures, prints, plate, linen, glass and objects of vertu, carriages, wines, liquors and all consumable stores and effects whatsoever then in the house so and so, and all money then in the Bank and thereafter to accrue due upon the thereinbefore mentioned stocks, funds, shares and securities.... Mrs.
The whole revenue of all of them taken together is evidently not equal to both the money and the consumable goods, but only to one or other of those two values, and to the latter more properly than to the former.
It is but a very small part of this importation which, it can be supposed, is employed as an annual addition, either to the plate or to the coin of the kingdom. The rest must all be sent abroad, and exchanged for consumable goods of some kind or other.
The state not knowing how to tax, directly and proportionably, the revenue of its subjects, endeavours to tax it indirectly by taxing their expense, which, it is supposed, will, in most cases, be nearly in proportion to their revenue. Their expense is taxed, by taxing the consumable commodities upon which it is laid out. Consumable commodities are either necessaries or luxuries.
It is conceivable, therefore, that we might consume all non-durable things the moment they were ready, and the degree to which we approximate to this ideal is a mark of the efficiency of our economic system. A large store of consumable goods is thus not a fundamental necessity of a prosperous society.
In other words, he could spend his income in consumable goods, but he could not invest either in productive machinery or in land."
Mr Locke remarks a distinction between money and other moveable goods. All other moveable goods, he says, are of so consumable a nature, that the wealth which consists in them cannot be much depended on; and a nation which abounds in them one year may, without any exportation, but merely by their own waste and extravagance, be in great want of them the next.
There would have been two values instead of one. The same quantity of money, besides, can not long remain in any country in which the value of the annual produce diminishes. The sole use of money is to circulate consumable goods. By means of it, provisions, materials, and finished work, are bought and sold, and distributed to their proper consumers.
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