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price as he can get。 The buyer is scarce ever under the necessity
of buying； and will； therefore； only give such a price as he
likes。 He considers what the land will cost him in tax and price
together。 The more he is obliged to pay in the way of tax； the
less he will be disposed to give in the way of price。 Such taxes；
therefore； fall almost always upon a necessitous person； and
must； therefore； be frequently very cruel and oppressive。 Taxes
upon the sale of new…built houses； where the building is sold
without the ground； fall generally upon the buyer； because the
builder must generally have his profit； otherwise he must give up
the trade。 If he advances the tax； therefore； the buyer must
generally repay it to him。 Taxes upon the sale of old houses； for
the same reason as those upon the sale of land； fall generally
upon the seller； whom in most cases either conveniency or
necessity obliges to sell。 The number of new…built houses that
are annually brought to market is more or less regulated by the
demand。 Unless the demand is such as to afford the builder his
profit； after paying all expenses； he will build no more houses。
The number of old houses which happen at any time to come to
market is regulated by accidents of which the greater part have
no relation to the demand。 Two or three great bankruptcies in a
mercantile town will bring many houses to sale which must be sold
for what can be got for them。 Taxes upon the sale of ground…rents
fall altogether upon the seller； for the same reason as those
upon the sale of land。 Stamp…duties； and duties upon the
registration of bonds and contracts for borrowed money； fall
altogether upon the borrower； and； in fact； are always paid by
him。 Duties of the same kind upon law proceedings fall upon the
suitors。 They reduce to both the capital value of the subject in
dispute。 The more it costs to acquire any property； the less must
be the net value of it when acquired。
All taxes upon the transference of property of every kind；
so far as they diminish the capital value of that property； tend
to diminish the funds destined for the maintenance of productive
labour。 They are all more or less unthrifty taxes that increase
the revenue of the sovereign； which seldom maintains any but
unproductive labourers； at the expense of the capital of the
people； which maintains none but productive。
Such taxes； even when they are proportioned to the value of
the property transferred； are still unequal； the frequency of
transference not being always equal in property of equal value。
When they are not proportioned to this value； which is the case
with the greater part of the stamp…duties and duties of
registration； they are still more so。 They are in no respect
arbitrary； but are or may be in all cases perfectly clear and
certain。 Though they sometimes fall upon the person who is not
very able to pay； the time of payment is in most cases
sufficiently convenient for him。 When the payment becomes due； he
must in most cases have the money to pay。 They are levied at very
little expense； and in general subject the contributors to no
other inconveniency besides always the unavoidable one of paying
the tax。
In France the stamp…duties are not much complained of。 Those
of registration； which they call the Controle； are。 They give
occasion； it is pretended； to much extortion in the officers of
the farmers…general who collect the tax； which is in a great
measure arbitrary and uncertain。 In the greater part of the
libels which have been written against the present system of
finances in France the abuses of the Controle make a principal
article。 Uncertainty； however； does not seem to be necessarily
inherent in the nature of such taxes。 If the popular complaints
are well founded； the abuse must arise； not so much from the
nature of the tax as from the want of precision and distinctness
in the words of the edicts or laws which impose it。
The registration of mortgages； and in general of all rights
upon immovable property； as it gives great security both to
creditors and purchasers； is extremely advantageous to the
public。 That of the greater part of deeds of other kinds is
frequently inconvenient and even dangerous to individuals；
without any advantage to the public。 All registers which； it is
acknowledged； ought to be kept secret； ought certainly never to
exist。 The credit of individuals ought certainly never to depend
upon so very slender a security as the probity and religion of
the inferior officers of revenue。 But where the fees of
registration have been made a source of revenue to the sovereign；
register offices have commonly been multiplied without end； both
for the deeds which ought to be registered； and for those which
ought not。 In France there are several different sorts of secret
registers。 This abuse； though not perhaps a necessary； it must be
acknowledged； is a very natural effect of such taxes。
Such stamp…duties as those in England upon cards and dice；
upon newspapers and periodical pamphlets； etc。； are properly
taxes upon consumption； the final payment falls upon the persons
who use or consume such commodities。 Such stamp…duties as those
upon licences to retail ale； wine； and spirituous liquors； though
intended； perhaps； to fall upon the profits of the retailers； are
likewise finally paid by the consumers of those liquors。 Such
taxes； though called by the same name； and levied by the same
officers and in the same manner with the stamp…duties above
mentioned upon the transference of property； are； however； of a
quite different nature； and fall upon quite different funds。
ARTICLE III
Taxes upon the Wages of Labour
The wages of the inferior classes of workmen； I have
endeavoured to show in the first book； are everywhere necessarily
regulated by two different circumstances； the demand for labour；
and the ordinary or average price of provisions。 The demand for
labour； according as it happens to be either increasing；
stationary； or declining； or to require an increasing；
stationary； or declining population； regulates the subsistence of
the labourer； and determines in what degree it shall be； either
liberal； moderate； or scanty。 The ordinary or average price of
provisions determines the quantity of money which must be paid to
the workman in order to enable him； one year with another； to
purchase this liberal； moderate； or scanty subsistence。 While the
demand for labour and the price of provisions； therefore； remain
the same； a direct tax upon the wages of labour can have no other
effect than to raise them somewhat higher than the tax。 Let us
suppose； for example； that in a particular place the demand for
labour and the price of provisions were such as to render ten
shillings a week the ordinary wages of labour； and that a tax of
one…fifth； or four shillings in the pound； was imposed upon
wages。 If the demand for labour and