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Updated: June 20, 2025
The peasants complained, in the bitterest terms, of the taxes and contributions of the French, stating that the public burdens had been more than quadrupled since they were separated from the Austrian Government, of which they still spoke in terms of affection and regret. The impot fonciere, or land-tax, under the French, amounted to one-fifth of the rent, or 20 per cent.
The revenue of 1880-81 was £72,920,000, and the gross expenditure £71,259,000. Including the land revenue as land-tax, the 200 millions in the twelve Provinces of British India pay about 4s. a head of imperial taxation, besides municipal or local and provincial cesses, which purchase such local advantages as roads, schools, police, and sanitary appliances.
They affirmed that the subsidy was greater than the nation could spare; for, unless the land-tax should be continued at four shillings in the pound, they could not afford a shilling to any prince in Germany, without encroaching upon the sinking fund.
The second would have so largely increased the revenue, without any loss to the consumer, as to enable Walpole to repeal the land-tax. In the case of tea and coffee alone, the change in the mode of levying the duty was estimated to bring in an additional hundred thousand pounds a year. The necessaries of life and the raw materials of manufacture were in Walpole's plan to remain absolutely untaxed.
The land-tax, we may say the land-rent, is the main source of revenue, but it is alarming to think of dependence on the opium monopoly for the millions it contributes. Intoxicating drugs are largely used in India, and among them opium holds the favourite place.
At last the King, aware of the nation's extremity, began to undertake reforms without reference to class prejudice, and on his own authority. He decreed a stamp-tax, and the equal distribution of the land-tax.
The expense of the year amounted to near six millions, raised by the land-tax at four shillings in the pound, by the malt-tax, by one million from the sinking-fund, by annuities granted upon it for eight hundred thousand pounds, and a loan of one million six hundred thousand pounds from the bank.
Are the Church lands to be sold to Jews and jobbers, or given to bribe new-invented municipal republics into a participation in sacrilege? Are all the taxes to be voted grievances, and the revenue reduced to a patriotic contribution or patriotic presents? Are silver shoe-buckles to be substituted in the place of the land-tax and the malt-tax, for the support of the naval strength of this kingdom?
What, again, it was of the highest importance to know, was the true 'incidence' of tithes, of a land-tax, of the poor-laws, of an income-tax, and of all the multitudinous indirect taxes from which the national income was derived? The most varying views were held and eagerly defended. Who really paid? That question interested everybody, and occupies a large part of Ricardo's book.
To which the Duke of York did assent; and remembered that the King did say again and again at the time, that he was assured, and did fully believe, the money would be raised presently upon a land-tax, This put us all into a stound.
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