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A consideration of all the various classes of socialistic legislation and taxation to which we have referred, will show that we are constantly engaged more and more in the practical assertion and embodiment of the three following principles That the individual is often too weak or ignorant to protect himself in contract or bargain, and requires public protection.
But in its more immediate objects that of establishing the two principles, that the constitution knows of no limitation to the authority of Parliament, and of no distinction between the power of taxation and that of any other kind of legislation Lord Mansfield's speech is now universally admitted to have been unanswerable.
Austria-Hungary............ 25,000,000,000 20,000,000,000 80. It is worth noting in this connection that the fourth liberty bond issue of six billions was oversubscribed to extent $866,416,300 almost an extra billion. There were over 21,000,000 individual subscribers. Only a little more than one-fourth of the expense had up to the date of the report been raised by taxation.
As to the precise extent of the German war debt, there is no certainty, but the Chancellor was able to tell the House that the last German Vote of Credit, which was estimated to carry them on to June or July, brings the total amount of all their Votes of Credit to £6200 millions, and that it is at least certain that that amount has been added to their War Debt, because their taxation during the war has not covered peace expenditure plus debt charge.
The Golden Rule was no more a common practice than it had ever been. Yet the country was rich, bursting with money. Big business throve, even while it howled to high heaven about ruinous, confiscatory taxation. The common man himself lifted up his voice in protest and backed his protest with such action as he could take.
During this year and the next the States of Holland, whose proportion often amounted to fifty per cent. of the whole contribution of the United Provinces, and who ever set a wholesome example in taxation, raised the duty on imports and all internal taxes by one-eighth, and laid a fresh impost on such articles of luxury as velvets and satins, pleas and processes.
All the attributes of regal and territorial jurisdiction were gradually usurped by the commanders of the provinces; the right of peace and war, of life and death, of coinage and taxation, of foreign alliance and domestic economy.
I ask what reason is there to suppose that taxation in a self-governing Ireland would be greater than in Great Britain after the war, or in what way Ulster industries could be singled out, or for what evil purpose by an Irish Parliament?
As a matter of fact, the power of taxation was rigorously maintained at Westminster with a reduced Irish representation of two-thirds. And this was the measure which was proclaimed to be greater than Grattan's Parliament or than any of the previous Home Rule Bills!
The White Cobra was right. No mere money would begin to pay the value of this treasure, the sifted pickings of centuries of war, plunder, trade, and taxation. The coins alone were priceless, leaving out of count all the precious stones; and the dead weight of the gold and silver alone might be two or three hundred tons.
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