20 
Question No. 4. 
Let us turn now to Question 4 of our series, “ Does the 
existence of the Debt entail injustice?” The answering of 
this question necessitates an inquiry into the incidence of 
taxation on the various classes of citizens comprising the 
Nation. In 1909 I had occasion to make certain researches in 
connection with this subject, and arrived at the following 
result :— 
Proportion 
expressed 
in percentage. 
Class. 
Popula- 
Wealth 
Taxes 
Rich(defined as possessing£50,000 
tion. 
owned. 
paid. 
at death) 
Middle Classes (defined as dying 
Under 1 
About 70 
About 334/3 
possessed of £2,650) 
About 9-10 
About 29 
About 33T/3 
Lower Classes 
About 90 
About 1 
About 334/3 
100 
100 
100 
In arriving at the percentage of taxes paid, I credit the rich 
with the payment of 75 per cent, of the three items, estate 
duties, stamps, and income-tax, and with the whole of the 
land tax. 
I credit the lower classes with paying (in proportion to 
their percentage of the population) 90 per cent, of the Customs 
and Excise dues, amounting together to about 68 million 
sterling. These dues embrace the taxes on tobacco, tea, rum, 
currants, coffee, raisins, cocoa, sugar, spirits, and beer. 
I exclude from the consumption of the lower classes 
brandy, foreign spirits, wine, ‘‘other articles,” licence duties, 
railways, and “ other sources.” Deducting the sum raised 
from these items from the total of 68 millions of revenue raised 
from Customs and Excise, we obtain a balance of 60 millions, 
9/10the of which is paid by the lower classes. In my calcula 
tions I credit the payment of the eight millions entirely to the 
rich and middle classes.