date

28 Aug. 1801 E Polit. Economy
28 Aug. 1801

E

Polit. Economy

Method

Finance

3

90

{10}[?]

Chapter 5.

Of Finance

Section 1 General Observations

Under the head of Sponte Acta, there is nothing except by accident, there

remains therefore Agenda and Non Agenda. Finance operates in toto in diminution

of wealth - the object or end in view should be to render the diminution as

small as possible, and as pure as possible from collateral vexation and

inconvenience in every shape.

The operations of Finance are reducible to Receipt and disbursement or say

Expenditure. Receipt may be 1 without condition of return 2. on condition of

return i:e: on the footing of a loan

Disbursement is accordingly 1 Disbursement at large 2. Disbursement in discharge

of Loans All expenditure supposes /in all cases supposes/ previous receipt, and

commonly /in most cases/ necessitates future for the purpose of replacing it.

Receipt and Expenditure are either 1. of money, 2. of particular articles for

service.

All other sources or efficient causes are inconsiderable in their amount in

comparison of taxation.

Every sum expended supposes therefore a correspondent amount already raised or

to be raised by taxes.

The Practical Rule {supposed to be a new one. To judge of/ which ought to be

observed in judging/ the eligibility /expediency/ of any branch of expenditure,

compare the benefit of it with the burthen of a correspondent portion of the

produce of the most burthensome species of tax /tax/. {For by striking off so

much expenditure you may save so many much tax.}
Similar Items
  • Title: [14 March 1804. III. 7, 8, 9]
    Description: 14 March 1804.

    III. 7, 8, 9

    K Political Economy - Finance

    1

    1. Financial operations 1. acceleration of increase 2. prevention of decrease.

    p.1.

    2. Cause of decrease - Taxes. p.1.

    3. A tax if it operates directly is a discouragemt to the production of the

    article taxed, an encouragement to rival articles. p.1.

    4. Hence the care taken to tax ourselves rather than foreigners. p.2.

    5. Operations of Finance two. Receipt of Disbursement. p.3.

    6. Disbursement is - 1. at large 2. in discharge of Loan. p.3.

    7. Receipt and expenditure are - 1. of money 2. or articles of service. p.3.

    8. Rule to estimate the eligibility of any measure - Compare the benefit of it

    with the burthen of the tax to raise the money for it. p.3.

    9. Comfort is diminished by taxes in proportion as they are taken from /out of/

    Income.

    10. Future wealth is diminished by taxes in proportion as they are taken from

    capital. p.4.

    11. Taxes therefore diminish /retard/ growing wealth when taken - 1. from

    capital. 2. from income part of which would otherwise have been laid out to be

    employed as capital. p.4.

    12. War taxes are to their amount so much taken from growing wealth, minus the

    profit on the purchased articles. p.5.

    13. By discharge of Debt the Annuitants give up their interest, & the

    community is exonerated from paying it - those who receive it give up nothing in

    return for it. p.{5}/6/.

    14. Encrease of wealth by discharge of debt has been beyond comparison greater

    than by any direct measures. p.6.

    15. Indirect taxes are limited by smuggling, the consequence of the imperfection

    of the laws. p.7.

    16. Taxes on property direct, on consumption indirect. 8.

    17. Taxes on capital are to their whole amount taken from growing wealth - on

    Income to the amount of the saving only. p.8.

    18 Direct taxes are borne unequally

    19. Advantages of obtaining foreign capital in Loans - 1. at borrowing it

    diminishes the consumption of capital. 2. at paying off it diminishes the

    burthen on fixed Incomists. p.9.

    20 With as good reason might men dislogise Bakers, as foreign Annuitants.

    19(c) In so far as the purchase of Annuities by foreigners has been by the

    materials of money it has been mischievous by producing the indirect Income

    Tax.
  • Title: [28 Aug. 1801 E Polit. Economy]
    Description: 28 Aug. 1801

    E

    Polit. Economy

    Method

    Finance

    4

    91

    Taxes taken from present enjoyment diminish comfort in proportion as they are

    paid by each contributor out of that portion of his wealth which had it not been

    for the tax would all of it have been spent within the year as money is spent by

    a man who is said to spend his income. /in the way of maintenance./

    Taxes diminish future wealth in proportion as they take from capital: viz: by

    being taken from that portion of a man's money the whole of which had it not

    been for the tax would have been spent on articles by the purchase of which real

    capital in increased: or even by being taken from that portion of his money

    which is expended in the way of expenditure of income /maintenance/ in so far as

    the money had it not been taken from him by the taxes would have been expended

    /employ'd in the shape of pecuniary capital/ of the sort of those by which real

    capital is encreased.

    Taxes therefore take from growing wealth 1. in as far as they are levied on

    capital viz. of money destined for employment in the shape of capital, or on

    goods or labour of which real capital is composed. 2. in as far as they are

    levied on the income or expenditure in the way of income of men who lay up money

    to be employ'd as capital, or would have laid it up had it not been for the

    tax.
  • Title: [25 Aug 1801 0 A Polit. Economy]
    Description: 25 Aug 1801

    0 A

    Polit. Economy

    Method

    2

    { Subjects for so many Books -

    I Wealth.

    I Sponte Acta: Steps taken by individuals of their own accord towards the

    encrease of the mass of natural wealth.+ {II Non-Agenda}

    II. Population

    The same heads. IV. Sponte actae every thing V. Non Agenda - almost every thing.

    VI. {Non}-Agenda - next to nothing.

    III. Finance

    Sponte Acta, now[?] - Remain VII, VIII Agenda and Non Agenda.

    Finance operates in toto in diminution of wealth: the object or end in view is

    to render the diminution as small as possible and as pure from collateral

    vexation and inconvenience in every shape

    IV. Weather, Population, and Finance, together

    Ineligible measures on the part of Government. Almost all that have been

    employed or proposed in this view. III Agenda. Eligible measures on the part of

    Government. In point of effect and importance, in importance of Sponte Acta, and

    Non Agenda, very inconsiderable.

    IX. Noscenda - i:e: Statisticks: including Data and Danda: between which the

    field of Noscenda is divided in portions which of course would be found

    different no[?] yet in each community and each portion of time.

    Collection and publication of Statistical Facts attended with expence, no

    institution should be set on foot for the furnishing of any such articles,

    without a previous indication of the benefit derivable from such knowledge, and

    a conviction that it will pay for the expence. But the expence necessary for

    one, may be sufficient for many.

    + The grounds of the distinction between Agenda and Non Agenda to be given under

    Agenda: under Non-Agenda, the particular measures, as compared with the above

    grounds.