COMMUTATION OF TAXES. 147 



return for a property tax of 4,000,000,, they can surely suffer nothing 

 from such an alteration. Besides their poor lands would be tilled for 

 the cultivation of barley, labour would be increased, and the poor 

 rates necessarily reduced ; and as smaller demands were required for 

 bargains of purchase, money would be separated into smaller amounts^ 

 and business would assume that general briskness which is now 

 only partially or locally experienced. It would also soon be seen^ 

 that an additional class of dealers would come into the market, 

 who are now precluded by their limited capitals ; and if, under such 

 a state of things, the farmer disposed of his stock with less conve- 

 nience than at present, yet he would find that his returns were more 

 ready, and his losses much lighter, than under the present system. 

 This argument is equally applicable to trade, as well as agriculture. 

 Every thing has been dealt out by monopoly wherever government 

 duties are required; because their excessive demand on capital 

 threw the original purchase into the hands of a few, which enforced.^ 

 or encouraged a high state of prices that were incompatible with " 

 the present monetary system of the country ; and hence the differ- 

 ence between the prices of colonial and home articles ; hence we find 

 the branch of t trade requiring colonial duties deserted the other, 

 which is free from them, full of competition and prosperity. If, 

 for instance, we go from Cheapside to Charing-cross, what shops are 

 to be found most numerous? The answer, we imagine, will be those 

 of drapers and tailors. Their goods are sold at the most reasonable 

 prices, much cheaper, indeed, than they could be procured in any OA 

 the continental cities; and a clear demonstration that this system 

 creates a general briskness of trade, is the fact that so much compe- 

 tition is found in these branches of trade, whilst it would be reason- 

 able to suppose that the wants of the metropolis would require an 

 equal proportion of grocers and bakers, if their prices were within the 

 compass of the resources of the community, If we reflect on the 

 various trades that we find in London, we shall discover those that 

 require small capitals are in the proportion of four to one who are 

 free of the government, above such as are under the influence of 

 colonial or other duties. It is therefore clear, that these imposts not 

 only keep up the prices of articles to the amount imposed, but they 

 also keep out competition in trade, which gives the metropolis an 

 extra profit of twenty- five per cent; so that if we could reduce 

 taxation on raw articles ten millions, the public would reap a benefit 

 of nearly double the amount, or almost half of the present burthen of 

 taxation. 



Let us then, for a moment, calculate the benefit of prices falling 

 one half. What would be the result to the country ? that every 

 private gentleman would be enabled to reside in England as cheap as 

 he could live on the continent. Thousands who are now compelled 

 to live abroad would flock back to their native shores, and their sub- 

 stance would be spent at home ; the tradesman's profit of ten per 

 cent, would go as far as at present at seventeen and a half; and the 

 landed proprietor, by looking into his affairs, might enjoy the same 

 luxuries and comforts for twelve hundred per annum as he does now 

 for two thousand. We are aware that it is doubted whether tradesmen 



