The Writings of Thomas Paine, Complete: With Index to Volumes I - IVPaine, Thomas
History
The Writings of Thomas Paine, Complete: With Index to Volumes I - IV
Paine, Thomas
Political science
The amount of the quota of taxes for this State for the year, 1780, (and
so in proportion for every other State,) is twenty millions of dollars,
which at seventy for one, is but sixty-four thousand two hundred and
eighty pounds three shillings sterling, and on an average, is no more
than three shillings and five pence sterling per head, per annum, per
man, woman and child, or threepence two-fifths per head per month. Now
here is a clear, positive fact, that cannot be contradicted, and which
proves that the difficulty cannot be in the weight of the tax, for in
itself it is a trifle, and far from being adequate to our quota of the
expense of the war. The quit-rents of one penny sterling per acre on
only one half of the state, come to upwards of fifty thousand pounds,
which is almost as much as all the taxes of the present year, and
as those quit-rents made no part of the taxes then paid, and are now
discontinued, the quantity of money drawn for public-service this year,
exclusive of the militia fines, which I shall take notice of in the
process of this work, is less than what was paid and payable in any year
preceding the revolution, and since the last war; what I mean is, that
the quit-rents and taxes taken together came to a larger sum then, than
the present taxes without the quit-rents do now.
My intention by these arguments and calculations is to place the
difficulty to the right cause, and show that it does not proceed from
the weight or worth of the tax, but from the scarcity of the medium in
which it is paid; and to illustrate this point still further, I shall
now show, that if the tax of twenty millions of dollars was of four
times the real value it now is, or nearly so, which would be about two
hundred and fifty thousand pounds sterling, and would be our full quota,
this sum would have been raised with more ease, and have been less felt,
than the present sum of only sixty-four thousand two hundred and eighty
pounds.
The convenience or inconvenience of paying a tax in money arises from
the quantity of money that can be spared out of trade.
When the emissions stopped, the continent was left in possession of
two hundred millions of dollars, perhaps as equally dispersed as it was
possible for trade to do it. And as no more was to be issued, the rise
or fall of prices could neither increase nor diminish the quantity. It
therefore remained the same through all the fluctuations of trade and
exchange.
Public-domain text, read in full here on John Shaqi.
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