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some considerations of the lowering of interest-第17章

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ent he pays; be divided。 From hence it is evident; That Taxes laid on Land do not in the least make Rents fall。     But suppose; to shift off the Burthen from the Land; some Country Gentlemen should think fit to raise these three Millions upon Commodities; to let the Land go free。 First; it is to be consider'd; That since the publick Wants require three Millions; (for that we supos'd for Argument sake; let it be three Millions; or one Million; that's all one;) and so much must go into the King's Coffers; or else the Necessities of the Government will not be supplied; That for raising these three Millions on Commodities; and bringing so much into the Exchequer; there must go a great deal more than three Millions out of the Subjects Pockets。 For a Tax of that nature cannot be levied by Officers; to watch every little Rivulet of Trade; without a great Charge; especially at first trial。 But supposing no more Charge in raising it; than of a Land Tax; and that there are only three Millions to be paid; 'tis evident that to do this out of Commodities; they must to the Consumer be raised a quarter in their Price; so that every thing; to him that uses it; must be a quarter dearer。 Let us see now who at long run must pay this quarter; and where it will light。 'Tis plain; the Merchant and Broker; neither will nor can; for if he pays a quarter more for Commodities than he did; he will sell them at a Price proportionably raised。 The poor Labourer and Handicraftsman cannot: For he just lives from hand to mouth already; and all his Food; Clothing and Utensils; costing a quarter more than they did before; either his Wages must rise with the Price of things; to make him live; or else; not being able to maintain himself and Family by his Labour; he comes to the Parish; and then the Land bears the Burthen a heavier way。 If the Labourer's Wages be rais'd in proportion to the encreas'd Rates of things; the Farmer; who pays a quarter more for Wages; as well as all other things; whilst he sells his Corn and Wool; either at the same rate; or lower; at the Market; (since the Tax laid upon it makes People less forward to buy) must either have his Rent abated; or else break and run away in his Landlord's Debt: And so the yearly Value of the Land is brought down。 And who then pays the Tax at the Years end; but the Landlord: When the Tenant; not able to raise his Rent by his Commodities; either runs away in his Landlord's Debt; or cannot be continued in the Farm without abatement of Rent? For when the yearly charge in his Farm is greater by the increase of the Labourers Wages; and yet his product Sells cheaper by reason of the Tax laid on his Commodities; how will the Farmer be able to make up his Rent at Quarter…Day? For this may be worth our Notice; that any Tax laid on Foreign Commodities in England; raises its price; and makes the Importer get more for his Commodity。 But on the contrary a Tax laid on your Native Product; and home…made Commodities; lessens their price; and makes them yield less to the first Seller。     The Reason whereof is plain。 For the Merchant Importing no Commodity but what the necessity; or fashionable Wantonness of your People gives him Vent for; will not only proportion his Gain; to the Cost and Risque which he has been at before Landing; but will expect profit of his Money paid here; for any Tax laid on it; and take advantage from thence to raise his price above what his Tax comes to; and if he cannot do that; he will Trade no more in that Commodity。 For it being not the Product of his Farm; he is not tied to bring it to Market; if he finds its price not answer his Expectation there; but turns himself to other Wares; which he finds your Markets take off better。 A Merchant will never continue to Trade in Wares; which the change of Fashion; or Humour; amongst your People; has made less vendible; though he may be sometimes caught by a sudden alteration。 But that seldom happens in the course of Trade; so as to influence the great bulk of it。 For things of Necessity must still be had; and things of Fashion will be had as long as Men have Money or Credit; whatever Rates they cost; and the rather because they are dear。 For it being Vanity not Use that makes the Expensive Fashion of your People; the Emulation is; who shall have the finest; that is; the dearest things; not the most convenient or useful。 How many things do we value or buy; because they come at dear rates from Japan and China; which if they were our own Manufacture or Product; common to be had; and for a little Money; would be contemned and neglected? Have not several of our own Commodities offered to Sale at reasonable Rates been despised; and the very same eagerly bought and brag'd of; when sold for Fiench at a double Price? You must not think therefore that the raising their Price will lessen the Vent of Fashionable Foreign Commodities amongst you; as long as Men have any way to purchase them; but rather increase it。 French Wine is become a Modish Drink amongst us; and a Man is asham'd to Entertain his Friend; or almost to Dine himself Without it。 The Price is in the Memory of Man rais'd from 6 d。 to 2 s。 and does this hinder the Drinking of it? No; the quite contrary; a Man's way of Living is commended; because he will give any Rate for it: And a Man will give any Rate rather than pass for a poor Wretch; or Penurious Curmudgeon; that is not able or knows not how to live well; nor use his Friends civilly。 Fashion is for the most part nothing but the Ostentation of Riches; and therefore the high price of what serves to that; rather increases than lessens its Vent。 The contest and glory is in the Expence; not the Usefulness of it; and People are then thought; and said to live well; when they can make a shew of rare and foreign things; and such as their Neighbours cannot go to the Price of。     Thus we see how Foreign Commodities fall not in their Price by Taxes laid on them; because the Merchant is not necessitated to bring to your Market any but Fashionable Commodities; and those go off the better for their high rate。 But on the contrary your Landholder being forced to bring his Commodities to Market; such as his Land and Industry affords them; common and known things; must sell them there at such price as he can get。 This the buyer knows; and these home…bred Commodities being seldom; the Favourites of your People; or any farther acceptable; than as great conveniency recommends them to the Vulgar; or downright necessity to all; as soon as a Tax is laid on them; every one makes as sparing a use of them as he can; that he may save his Money for other necessary; or creditable Expences; whereby the price they yield the first Seller is mightily abated; and so the yearly value of the Land; which produces them; lessen'd too。     If therefore the laying of Taxes upon Commodities does; as it is evident; affect the Land; that is out at Rack…rent; it is plain it does equally affect all the other Land in England too; and the Gent。 will; but the worst way; increase their own Charges; that is by lessening the Yearly Value of their Estates; if they hope to ease their Land; by charging Commodities。 It is in vain in a Country whose great Fund is Land; to hope to lay the publick charge of th
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