Taxation as ajf 'ecting the Agricultural Interest. 405 = 139 
>i69, in statistics furnished by the Inland Revenue Depart- 
iient, or in those adopted by Mr. Goschen in his recent Report, 
n the former case the whole, and in the latter instance three- 
)urths, of this item was reckoned to fall on real estate. Be- 
ieving that not more than two-thirds so falls, I have taken 
1)0,000/., which is less than one-half of this reduced quota, as 
lirly representing the share likely to be contributed to the 
(■venue in the form of stamps on such deeds as are connected 
, ith the transfer and management of landed property. 
The so-called Land Tax was, strange to say, by no means in Luni Tax. 
ts origin or intent a special impost on the soil, as its present 
lame might appear to imply. The legitimate successor of one 
if the oldest of our taxes — the " subsidy" usually voted by our 
'arliaments up to the middle of the seventeenth century — the land 
ax, was meant to be what we now call a general income or pro- 
)erty tax. In its present shape it took its rise from the assess- 
nents of the financiers of the Long Parliament, who, during 
he altered social circumstances of the Commonwealth, dis- 
overed the inadequacy of earlier methods of providing for the 
■ost of Government. When in the reign of Charles II. a variety 
)f excise duties increased the indirect fiscal liabilities of the 
v hole community, so-called " aids," or direct charges on realized 
'States, accompanied them. After the Revolution of 1688, still 
arger revenues were needed, and a more systematic organisation 
)f these direct charges being attempted, the present tax was 
ormally established. It, however, referred not to land alone, 
mt to all known and notable sources of wealth, and, curiously 
•nough, the earlier statutes lay more stress on the taxation of 
)ersonal than real estate.* The first Land Tax Act, passed in 
LG92, set out by enacting, " That every person, body politic 
ind corporate, having any estate in ready monies, or in any 
lebts owing to them, or having any estate in goods, wares, 
nerchandise, or other chattels, or personal estate whatsoever 
vithin this realm or without, shall yield and pay unto their 
Majesties four shillings in the pound according to the true 
early value thereof; that is to say, for every hundred pounds 
it such ready money and debts, and for every hundred pounds 
vorth of such goods, wares, &c., or other personal estate, the sum 
>f four-and-twenty shillings." t It then imposes a further duty 
»f 4s. in the pound on offices or employments of profit, and 
)nly in closing stipulates for a supplementary charge on land 
ental in these terms : — ■" And to the end a further aid and 
* See 13tli Report of the Inland Eevenue Commissioners, 1870. 
t It should be expLdued that G per cent, being at this time the legal interest 
f money, an annual charge of 24s. per lOOZ. of capital was equiv.'dent to a tux 
f 4«, on each pound of year!}- interest. 
