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You couldn't keep me away from that game if you put a protective tariff of seventy-eight per cent ad valorem, whatever that means, on the front gate. I came out to this town on business, and I'll have to take an extra fare train home to make up the time; but what of that?
Thus I never invited any one to eat with me, but those on whose pockets I had some design. After our collation it was constantly my method to set down in a book I kept for that purpose, what I thought they owed me for their meal. Indeed, this was generally a hundred times as much as they could have dined elsewhere for; but, however, it was quid pro quo, if not ad valorem.
Under it the inevitable consequence is that foreign goods will be entered at less than their true value. The Treasury will therefore lose the duty on the difference between their real and fictitious value, and to this extent we are defrauded. The temptations which ad valorem duties present to a dishonest importer are irresistible.
Nothing else was taxed, although I noticed that nearly every passenger had to pay on something else. There is only one rate of duty 5 per cent ad valorem upon everything jewelry, furniture, machinery all pay the same, which simplified the transaction.
So far as practicable, the rates of taxation should be in the form of specific duties, and not ad valorem, requiring the judgment of experienced men to ascertain values and exposing the revenue to the temptation of fraud.
This might be accomplished by ascertaining the average value of any given article for a series of years at the place of exportation and by simply converting the rate of ad valorem duty upon it which might be deemed necessary for revenue purposes into the form of a specific duty. Such an arrangement could not injure the consumer.
The gold produce continued to decrease, and the cry was for more duties and heavier duties, until a please-the-people Ministry extended the list to every possible article of manufacture, and raised the duty to a prohibitive amount-for many articles as high as 27½ ad valorem. The colony has now committed itself to an almost irrevocable extent.
The reverse of the propositions would be nearer to the truth, because a much larger amount of revenue would be collected by merely converting the ad valorem duties of a tariff into equivalent specific duties. To this extent the revenue would be increased, and in the same proportion the specific duty might be diminished.
If all property be assessed at the same rate, whether for the full value or for ten per cent, of the value of the property, the payment of each owner would be unaffected; for the higher the assessment, the lower the levy; the lower the assessment, the higher the levy. Our State revenue is mainly derived from a six mill ad valorem tax."
Foreign imported goods on the other hand, are only taxed at the rate of five per cent, ad valorem Customs duty at the first port of entry with another 2.5 per cent, transit duty at one of the other ports through which the goods pass. Besides these only landing duty is imposed upon imported goods at the port of destination.
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