A critical dissertation on the nature, measures and causes of value

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Monograph

Identifikator:: 1858887097

URN:: urn:nbn:de:zbw-retromon-271916

Document type:: Monograph

Author:: Bailey, Samuel http://d-nb.info/gnd/1055121706

Title:: A critical dissertation on the nature, measures and causes of value

Place of publication:: London

Publisher:: The London School of Economics and Political Science (University of London)

Year of publication:: 1931

Scope:: xxviii, 255 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter X. On the Difference between a Measure and a Cause of Value

Collection:: Economics Books

FINANCIAL REFORM building of iron ships for ocean traffic in 1832’, and the A-D.1776 conditions of the competition for marine supremacy were entirely changed. It is impossible to say how much of the increased prosperity which has attended British Shipping is due to a change of policy, and how much to the application of engineering skill in giving increased facilities for ocean traffic, English but the expansion of foreign trade in the twenty years which ae followed the repeal of the Navigation Laws was unprecedented, #42 been The total imports and exports of British and foreign produce fully main almost trebled? and English shipping interests shook off for a time their anxiety as to being outdone by their competitors in the United States. 277. In spite of all these new openings and increased Com- facilities, it was impossible for trade to make rapid progress std in the twenties and thirties, as it was hampered by the hampered burden of taxation which was part of the heritage of the long %¥ war. The demands of Government had been gradually worked up till, in 1815, they had attained enormous dimensions. The debt stood at £860,000,000, or about £43 per head of the population; and the revenue, which was required to defray the interest on the debt and the necessary expenses of government, amounted to seventy-four millions and a half; a quarter of the sum had sufficed before the long war. As a necessary result, taxes had been laid upon everything that was taxable and there was no incident of life in which the pressure of taxation was not felt. Sidney Smith’s immortal summary can never be surpassed, “Taxes upon every article which enters into the mouth, or covers the back, or is placed under the foot—taxes upon every thing which it is pleasant bo see, hear, feel, smell or taste—taxes upon warmth, light, locomotion—taxes on everything on earth, and the waters nnder the earth—on everything that comes from abroad or is grown at home—taxes on the raw material-—taxes on every fresh value that is added to it by the industry of man —taxes on the sauce which pampers a man’s appetite, and the drug that restores him to health—on the ermine which decorates the judge, and the rope which hangs the criminal — \ Lindsay, Merchant Shipping, 1v. 90. Bowley, England's Foreign Trade, Diagram I. 3

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