Janus in Modern LifePetrie, W. M. Flinders (William Matthew Flinders)
Philosophy
Janus in Modern Life
Petrie, W. M. Flinders (William Matthew Flinders)
Civilization; Progress
Another change is also seen resulting from these duties. England, more
than other lands, was rich in private treasure houses of precious
things—pictures, statuary, libraries, and other collections. These
represented a large amount of capital locked up, but it yielded a rich
interest in the home education of the upper classes, in redeeming
them from the dull, unimaginative, coarse, or sordid lives of wealthy
classes in some other lands. So long as a duty only equal to a few
months' or a year's interest was levied, the succession was not too
burdensome, and the state reaped a steady small return. But when
the possession of such means of amenity involves at each generation
a crushing tax on the productive part of an estate, they must be
sacrificed. The collections are vanishing to other lands, where such
short-sighted policy is unknown, and England will be left bare. A
far more profitable policy would have been to exempt all artistic or
historical collections from death-duties, if they were thrown open to
the public for a certain number of days in each year. They would thus
have become partly public museums, provided free of all cost to the
surrounding districts.
Another serious consideration is that 10 or 15 per cent., or even
20 per cent. in case of bequests for public purposes, is taken off
accumulated national capital and thrown into yearly income. The estate
duty is incessantly eating up the national reserves, and using them for
current expenses. We should call any family which did this shameless
spendthrifts, yet this is the immoral fashion of our taxation.
Public-domain text, read in full here on John Shaqi.
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