re
would be, according to Mr. Snowden, a land value tax of a penny in the
pound of its capital value, which is equal to 10 per cent. annual
value. It is to be the small beginning of the policy of taxing
landowners out of existence, to be speedily followed by confiscation.
"The annual value of land being _250,000,000l._, the produce of the
land value tax would be _25,000,000l._ a year."[461] The author
justifies the creation of that tax as follows: "Liverpool, London,
Glasgow owe their existence and their prosperity to their respective
situations, which are natural advantages and which ought not in
justice to be enjoyed solely by those who live upon the sites. Every
town and village in the country contributes to the prosperity of every
other part. The nation is a unit; its resources and its obligations
should be mutually shared."

"Land values are so obviously not created by individual effort that
the justice of taking the increment for the use of the community
appeals to those who may have some difficulty in grasping the working
of the 'unearned increment' in commercial concerns, where, however, it
operates just as truly though not so obviously. The imposition of an
Imperial tax of one penny in the pound on the capital value of the
site would be a beginning, but by no means the end, of the process of
diverting socially-created rent of land into the public exchequer.
Taxation will do something towards that end; but taxation would be a
long, irritating, and untrustworthy way of trying to secure the whole
annual value of the land for the community."[462] "The taxation of
land values is not a land reform. To get the full usefulness and the
full value of the land for the community there is no way but for the
State to own the land."[463]

The contemplated reform of taxation will not be limited to taxing the
rich and the well-to-do out of existence. Relief will be afforded to
the masses by the repeal of all duties on food, and, indeed, of all
indirect taxation. "The reforms which the Labour party will endeavour
to obtain from the Government, in which it believes it will be
expressing the democratic sentiment of the country, are:

1. Repeal of the duties on foods.

2. A minimum wage of _30s._ to all workers in Government employ or
working under a contractor for the Government.

3. Old-age pensions of _7s._ a week for persons over sixty."[464]

Practically all Socialists agree that all indirect taxation should be
abolish