ner as ours, and fell off in the same way. We must not then,
consider as durable, or owing to ourselves, circumstances that arose
out of the general and temporary situation of other nations.

It has been said in the general chapter on taxation, and again repeated
in that on national debt, that both the one and the other operate, for a
certain time, in augmenting the industry and wealth of a country, but
that there is some point at which they begin to have a contrary effect;
that point, however, being dependent on a variety of circumstances, is
not a fixed one, it cannot be discovered by investigation before the
time, but it may by symptoms and signs that become visible soon
after.

It is a sign that a nation has passed the point at which taxes cease to be
a spur to industry, when the duties on consumption, or optional duties,
which one may avoid paying, by not using the article taxed, become
less productive than formerly, and when it is found necessary to lay
taxes on land, houses, and such sort of property as can be made to pay,
independent of the will of the proprietor.

When taxes are laid upon property, not on consumption, it is to be
supposed the latter can bear no more. Taxes on property are forced
taxes; on consnmption =sic=, they are generally, to a certain degree,
voluntary, though not always so.

The augmentation of wealth has, in this country, been great, but it has
never been regular or uninterrupted; that of taxation has, on the
contrary, been uninterrupted, and this is better seen from the chart
than from any thing that can be said. There can be no doubt that,
though hitherto our increasing prosperity has been so great as to
counteract the effect of heavy taxation, yet that the same thing cannot
be expected to continue long. How long it may continue, or whether it
has not already ceased, or is on the point of ceasing, is uncertain; but
there is nothing more positive, than that, if taxes increase, they must,
in process of time, crush industry, and, therefore, at all events, they
should be kept as low as possible.

The whole income of the country is estimated only at 150,000,000 L.
The taxes to the state amount to 40,000,000 L. and those for the
maintenance of the poor to 5,500,000 L. But this is the mere money
ac-[end of page #232] count, without estimating loss of time, trouble,
and inconvenience; so that it may fairly and reasonably be put down at
one-third of the whole revenue or income of the indiv