The Science of Exchanges by Nathaniel Alexander Nicholson

The Science of Exchanges

byNathaniel Alexander Nicholson

Paperback | February 8, 2012

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated.1873 Excerpt: ... CHAPTER IX. TAXATION. 257. What is taxation in Great Britain? It is the cost of the British constitution, that is, the per-centage which we must pay to secure our lives and properties. 258. What ought a tax to be? It ought to be but the price which we have to pay for some advantage given to us in return. 259. How can we best consult the interests of the whole mass of the nation? By encouraging free competition amongst all exchangers, irrespective of race or country, and thereby lessening the cost of producing commodities. 260. Does taxation in any country necessarily restrict competition in that country? No, it does not, provided that the same kind of commodities are taxed exactly alike, whether they be produced at home or abroad. Taxation only restricts competition when the same kind of commodities are unequally taxed, that is to say, when the price of certain kinds of commodities which some competitors supply is raised by taxation above the price of the same kind of commodities which other competitors supply. 261. What should be the aim of the financialist? To endeavour to make competition absolutely free. 262. What are direct taxes? "They are taxes which are collected from house to house by Government officers, whether avoidable or unavoidable."--(Newman's "Lectures," p. 215). 263. What are indirect taxes? They are taxes upon the consumption of various commodities, the incidence of which can be avoided by any one who does not consume the commodities, because those who pay these taxes to the State, try to reimburse themselves by charging so much more for their goods. 264. What are the objections to direct taxation? That it interferes with the private concerns of the people too much, that it gives great opportunities for fraud, and that it cannot be put eq...

Details & Specs

Title:The Science of ExchangesFormat:PaperbackDimensions:54 pages, 9.69 × 7.44 × 0.11 inPublished:February 8, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217370179

ISBN - 13:9780217370172

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