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
It is not so much my intention, by this publication, to propose
particular plans for raising money, as it is to show the necessity and
the advantages to be derived from it. My principal design is to form the
disposition of the people to the measures which I am fully persuaded it
is their interest and duty to adopt, and which need no other force to
accomplish them than the force of being felt. But as every hint may
be useful, I shall throw out a sketch, and leave others to make such
improvements upon it as to them may appear reasonable.
The annual sum wanted is two millions, and the average rate in which it
falls, is thirteen shillings and fourpence per head.
Suppose, then, that we raise half the sum and sixty thousand pounds
over. The average rate thereof will be seven shillings per head.
In this case we shall have half the supply that we want, and an annual
fund of sixty thousand pounds whereon to borrow the other million;
because sixty thousand pounds is the interest of a million at six per
cent.; and if at the end of another year we should be obliged, by the
continuance of the war, to borrow another million, the taxes will be
increased to seven shillings and sixpence; and thus for every million
borrowed, an additional tax, equal to sixpence per head, must be levied.
The sum to be raised next year will be one million and sixty thousand
pounds: one half of which I would propose should be raised by duties on
imported goods, and prize goods, and the other half by a tax on landed
property and houses, or such other means as each state may devise.
But as the duties on imports and prize goods must be the same in all the
states, therefore the rate per cent., or what other form the duty shall
be laid, must be ascertained and regulated by Congress, and ingrafted in
that form into the law of each state; and the monies arising therefrom
carried into the treasury of each state. The duties to be paid in gold
or silver.
Public-domain text, read in full here on John Shaqi.
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