Blackwood's Edinburgh Magazine, Volume 60, No. 370, August 1846Various
History
Blackwood's Edinburgh Magazine, Volume 60, No. 370, August 1846
Various
England -- Periodicals; Scotland -- Periodicals
It is somewhat remarkable, but rather instructive, that the Whigs do not
seem to have contemplated any other financial alteration beyond the repeal
of the corn-laws. Of an equitable adjustment of clashing interests, they
appear to have had no idea. It is quite true that they had been of old
well accustomed to a deep defalcation of the public revenue, and the
probability of the recurrence of _that_ fact, may have been viewed by them
as a mere bagatelle. From vague and general protestations of economy, we
can form no proper estimate of the real nature of their plans. Economy, or
that paltry system of paring, which passes with the Whigs for such, is,
after all, a political virtue of minor import. What we require from every
administration is the adoption of such measures only as shall tend to
promote the general wealth and prosperity of the country; and, in
consequence, render more easy the payment of the national burdens. Any
fiscal change which affects the revenue, must, as a matter of course,
affect some particular class of the community. A certain yearly sum has to
be made up--no matter how--and every million which is remitted from one
source of the revenue must be supplied by another. It is this necessity
which renders the administration of our finances so difficult. Great
Britain, when she obtained her place in the foremost rank of nations, had
to pay a fancy price for that supremacy. Our system of taxation is not the
growth of a few years, but of a large tract of time, embracing periods of
enormous expenditure and of intense excitement. It is of the most complex
and artificial nature; for the reservoir of the state is filled from a
thousand separate sources, and not one of these can be cut off without
occasioning a greater drain upon the rest.
Public-domain text, read in full here on John Shaqi.
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