744 REPORT — 1903, 



paying a larger proportion of tlieir value in rates than properties in less valuable 

 jiites. The incidence of the present rates paid in respect of inhabited houses is 

 just as much upon occupier as if the same amount of money vrere raised by a local 

 income tax. The incidence of a site-value rate will be upon the owners of site 

 value. The best method of collecting the rate will be to levy it upon the occupier, 

 •with permission to him to deduct it or part of it from his rent. 



Present contracts ought not to be excepted, but the holders of chief rent or 

 pei-petual annuities charged on land ought not to be rated. 



The rate will tend to fall in its capitulated value upon those persons who own 

 the land at the date of the imposition of the rate. The rate should therefore 

 commence at a email figure. 



A separate valuation of land and buildings is possible, and its cost would not 

 be excessive. Uncovered land in the neighbourhood of large towns should not be 

 taxed. 



4. The Ifein Labour Party in Us Economic Asj^fixt. 

 By H. B. Lees Smith, M.A. 



History of the new Labour party. It makes a compromise between the ' old ' 

 and the ' new ' trade unionists. The two main points at issue : — 



(1) The older school distrusted appeals to the State, but the younger ad vocated 

 a somewhat dogmatic socialism. 



(2) The older wished to act with the Liberal party, while the younger fought 

 for an independent Labour party. 



The now party was called into existence at the Plymouth Trade Union Con- 

 gress in 1899. A resolution was carried that a conference be called ' to devise 

 ways and means to secure the return of an increased number of Labour members 

 to the next Parliament.' This led to the formation of the Labour llepresentatiou 

 Committee. At first the older school held aloof. The alai'm caused by the Taft" 

 Vale case, however, pushed the new party to the front. In February 1903 the 

 members affiliated to the Labour Representation Committee numbered 861,150, 

 an increase of 80 per cent, in a year. 



The compromise may be expressed as follows : — 



(1) The newer school do not insist on members being pledged to any socialist 

 dogma. 



(2) The old unionists have given way on the question of forming an inde- 

 pendent party. 



There seems to be little doubt that collectivism will be the foundation of the 

 social policy advocated by the new party. By what kind of economic reasoning 

 will this collectivism be supported ? The danger of Marxist theories being popu- 

 larised. Pamphlets and speeches by Labour leaders show that this is by no means 

 slight. It is best seen by an outline of the Marxist system. This may be divided 

 into two parts:— 



(1) The labour value theory. Criticism. 



(2) The theory of surplus value. Criticism. 



Examples are adduced showing the influence of these doctrines on ' workshop 

 economics.' 



15. A Contribution to the Statistics of Production and ConsumjUion 

 of the United Kingdom. By S. Rosenbaum, B.Sc. 



An examination of the figures relating to the production and importation and 

 total consumption of corn during the years 1872-1901 shows the following facts : 

 Wheat land in the United Kingdom has gone down from 3^ to below 2 million 

 acres ; barley land from 2,600,000 apres to 2,100,000 acres ; an(^ ofits land ffopi 



