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B Note *6


Ch. XIV. Advant

6 (a)
That would be no
more than pursuing
a track already
opened -

Note (b) to p. 183

(a) By the tax really imposed on Country Banker's paper,
Government has already taken to itself a share in
the profit on that paper. [+] The profit would fall, of
course, to be deducted from the prof superior prof
sum total of profits promised by the proposed measure.


By the first return of the produce of this tax amounted [+] In of so far as
Banker's papers came
to be extruded by the
proposed government paper, this
comparatively minute

to about £10,000. This being as it should seem, for
one quarter, the profit for the year would at that rate
be £1 about £40,000. If the case be, that in the first instance
the tax had been eluded evaded in any degree by, the removalstopping
up of the loop-holes of the means of evasion a source of improvement
and profit will and increase<add>addition</add> be considered as remaining open to
that amount. [+] On the other hand of the supposing [+] and the thus assured
quantit amount of
£40,000 will in be proportionable
be too small

the tax to have been productive in any degree
of the effect of a prohibition - in other words to have
operated in any degree in restraintdiminution of the quantityamount
of the paper in question, such the assumed amount
of £40,000 a year will be in proportion be
too large.


The present amount, as indicated, by the return for
the first quarter, (£9,821) appeared to be about £40,000 a
year.++House of Commons
Finance Account, Ao
1800 No II p. 21.
dated 29 Jan.y and
5 March
The date of the Act
(39 G.3.c.3) is 12 July 1799.

End of the Note.



Metadata:JB/002/277/001

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