Speculations from Political EconomyClarke, Charles Baron
General
Speculations from Political Economy
Clarke, Charles Baron
Economics
A man who valued himself unfairly low would not be bought out at once
and dispossessed by Government, unless it happened that during that year
his land was taken up by Government or by a railway company for some
public purpose. The regular course of business would be as follows:--An
owner A would put his house and curtilage in the Rate Book at £1200. The
sycophant B would come to the magistrate, offer £1600 for the property,
and lodge the £1600 with the magistrate. The magistrate then, without
divulging the name of the sycophant, would write to A either to rate his
house at £1600 (paying a fine for so doing), or to take £1600 for it.
If he took the £1600, B would get the property, and Government the
increased rate. If A preferred raising his rateable value to £1600, B
would get the fine, Government would get the increased rate.
_The utmost pressure put upon any owner under this system would be that,
if he would not pay rates on x pounds for his property, he would lie
obliged to take x pounds for the property._
The 33-1/3 per cent for compulsory purchase is illusory, and I have only
put it in the statement of the scheme to meet an objection which I know
to be common (and equally illusory). It is clear that if I know I am
going to get 33-1/3 per cent for compulsory purchase, whether from
Government or a secret sycophant, I shall proportionately undervalue my
property. Thus if I estimate the real value of my house and curtilage at
£1200, and feel that I do not care if I sell at that price, I shall put
it down in the Rate Book at £900. This applies to all owners, so that
the allowance for compulsory sale would only artificially depreciate by
one-fourth all the rateable values put down in the magistrate's book.
I have not stopped to cumber the statement of this simple plan by adding
the details necessary to meet severance of a farm by a railway company,
etc. The provisions to meet complicated tenures, etc., would run much
the same as in the Lands Clauses Consolidation Act.
Public-domain text, read in full here on John Shaqi.
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