Note 18 — Chapter V · IN THE GLASGOW CHAIR—THE LECTURES ON JUSTICE AND POLICE

Lectures, p. 241: “Excise raises the price of commodities and makes fewer people able to carry on business. If a man purchase £1000 worth of tobacco he has a hundred pounds of tax to pay, and therefore cannot deal to such an extent as he would otherwise do. Thus, as it requires greater stock to carry on trade, the dealers must be fewer, and the rich have, as it were, a monopoly against the poor.”