CHAPTER VIII 



ON TAXATION 



Seventh proposition. — The necessary revenue 

 should be raised so as to encourage the true 

 employment of capital, and to impede as little 

 as possible the march to the ideal. 



In Great Britain, at the present time, the sum 

 required as revenue may be called, without 

 exaggeration, enormous. No doubt of the out- 

 lay a good deal might be spared ; but even if 

 Government were able to detect and prevent 

 much waste, even if it were possible to forgo ex- 

 penditure on items of no real national importance, 

 still for Government purposes it would be neces- 

 sary to raise a great revenue. 



Supposing then a nation to strive after the 

 attainment of the true ideal — the movement of 

 the people towards the highest possible condition, 

 physically, socially, and morally — on what prin- 

 ciples would that nation, by means of Govern- 

 ment action, raise the revenue required to meet 

 expenditure? 



The answer to this question follows at once, 

 when the meaning of revenue is admitted. The 

 revenue of the nation is simply a certain amount 



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