The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

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606 PARLIAMENTARY COLBERTISM all collateral successions to property of every kind, but while he succeeded in the measure which dealt with personal property (1796), that which concerned real property bad to be dropped’. Another expedient was adopted in 1797 which told in the same way, and brought pressure to bear directly on the propertied classes. This was the so-called Triple Assessment; it was intended to be a tax which should fall widely, and which should yet be so graduated as to press less heavily on the poorer classes than on others’. The principle of the assessed taxes was that a man’s return as to his establishment for the previous year was the basis of payment in the current year according to a graduated scale, « which had the effect of increasing the tax for every subject of duty in the larger establishmentss.” In 1797 Pitt pro- posed that in the following year the payments should be greatly increased, those whose assessment had been under £25 were to pay a triple amount, those who had paid between £30—£40 were to make quadruple payments, while assessments of £50 and upwards were to increase fivefold. The following year it appeared that a better result could be obtained with less elaborate machinery, by imposing a ben per cent. income tax on incomes of £200 and upwards. It was graduated for incomes between £60 and £200, and incomes of less than £60 were free’. The income tax was repealed by Addington on the close of the war, but had of course to be re-imposed in the following year. A more convenient form of return was adopted, under five distinct schedules. though he This was the principal new departure made under the was also . v . forced to strain of the great French wars, Pitt and his successors oro and Were anxious so far as possible to pay the current expenses ina costly out, of the year's receipts. It was only under the pressure of necessity that he had recourse to the expedient, which had come into fashion in the time of William IIL, and permitted himself to throw a burden of debt on posterity. When he was forced to fall back on these financial methods, he gave the last great example of the disastrous results of misunder- ! Dowell, mw. 214. 2 Dowell, 220. 3 Parl. Hist. xxx. 1047. ' Dowell. mo. 221. 5 1b. 1, 222. A.D. 1689 —1776.

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