...into the mode in which a property and an income tax should be assessed. I. Dr Smith lays it down, that the subjects of every state ought to contribute towards the support of government, ' as nearly ' as possible in proportion to their respective abilities ; that is, * in proportion...

...taxation. Adam Smith, in his Wealth of Nations, defines the principle of taxation as follows: — " That the subjects of every state ought to contribute towards...possible, in proportion to their respective abilities," and this proposition must be admitted. To determine therefore, the character of a new tax, we have...

...necessary to premise the four following maxims with regard to taxes in general. ] . The subjects of fcvery state ought to contribute towards the support of the...respective abilities ; that is, in proportion to the revemie which they respectively enjoy under the protection of the state. The expense of government...

...general, to which, according to Adam Smith, all taxes should conform. The four maxims are as follow: 1. " The subjects of every state ought to contribute towards...possible in proportion to their respective abilities. 2. " The tax which each individual is bound to pay ought to be certain and not arbitrary. 3. " Every...

...principle laid down by the modern parent of sound political economy, (A Smith, vol. 3 p. 256.) that " the subjects of every state ought to contribute towards the support of the government, in proportion to the revenue which they respectively enjoy under the protection of the state," which...

...concluded this part of the subject, with stating Dr. Smith's maxims with respect to taxation : — «. 1. The subjects of every state ought to contribute towards...abilities ; that is, in proportion 'to the revenue they respectively enjoy under the protection of the state. 2. The tax which each individual is bound...

...lecrssary to give sanction to a rule of such apparent j'us-ice — "That the subjects of every S'.atc ought to contribute towards the support of the Government, as nearly as possible, in proportion to the revenue which they enjoy under the protection of the State. The expense of Government to the individuals...

...viz: "1. The citizens of every state (subjects he terms them) Ought to contribute to the support of government as nearly as possible in proportion to...respective abilities: that is, in proportion to the revenue they respectively enjoy under the protection of the state." This proportion I shall contend, ought...

...and, indeed, no authority is necessary to give sanction to a rule of such apparent justice — "That the subjects of every State ought to contribute towards...Government, as nearly as possible, in proportion to the revenue which they enjoy under the protection of the State. The expense of Government to the individuals...

...principal articles of foreign raw materials imported. Quars The following are Dr. Smith's maxims : — I. The subjects of every state ought to contribute...possible in proportion to their respective abilities. II. The tax which each individual ought to pay ought to be certain and not arbitraiy. III. Every tax...