Volume 69 / Part 2 — THE DANGERS OF THE COUNTRY. (continued 2)
Reading edition
Is there, then, no remedy for these various, accumulating, and most threatening evils? Must we sit down with our hands across, supinely witnessing the progressive dangers and certain ultimate destruction of the empire, merely because the measures inducing all these perils are supported by the moneyed and manufacturing oligarchy who have got the command of the House of Commons? We are far from thinking that this is the case; but if we would avert, or even mitigate our dangers, we must set ourselves first to remedy the most pressing. Of these, the most serious, beyond all question, are to be found in our unprotected state,—for they may destroy us as a nation in a month, after some fresh freak of Lord Palmerston's has embroiled us with some of the great European powers. In regard to other matters, and the general commercial policy, the danger, though not the less real, is not so immediate, and experience may perhaps enlighten the country before it is too late. But it is otherwise with our external dangers: they are instant and terrible. The means of resisting them are perfectly simple—they will be felt as a burden by none; on the contrary, they are calculated, at the same time that they provide for our national defence, to mitigate the greater part of the domestic evils under which the people labour.
Government tell us that they have a surplus of L.3,000,000 this year in their hands. We hope it is so, and that it will not prove, like other surpluses, greater on paper than in reality. But let it be assumed that it is as large as is represented. That surplus, judiciously applied, would save the country! It would raise our armaments to such a point as, with the advantages of our insular situation, and long-established warlike fame, would prevent all thoughts of invasion on the part of our enemies. It would give us 100,000 regular troops, with those we already have—100,000 militia, occasionally called out—and 25 ships of the line, with those already in commission, to defend the British shores. It is true, the continuance of the Income Tax cannot be relied on—nor should the country submit to it any longer; for a tax which is paid exclusively by 147,000 persons out of 28,000,000, is so obviously unjust, that its further retention is probably impossible. Additional direct taxation upon the affluent classes is obviously out of the question, for the chasms made in the incomes of those depending on land, who pay three-fourths of it, are such that it would prove totally unproductive. What, then, is to be done to uphold the public revenue at its present amount, or even prevent its sinking so as to increase instead of diminishing our helpless and unprotected state? An obvious expedient remains. Imitate the conduct of America and Prussia, France and Russia, and all countries who have any regard either to their national independence, or the social welfare of their inhabitants. Lay a moderate duty upon all importations, whether of rude or manufactured articles. In America it is 30 per cent, and constitutes nearly their sole source of revenue: in Prussia it is practically 40 or 50 per cent. By this means nearly half the tax is paid by foreigners—for competition forces them to sell the articles taxed cheaper than their ordinary price, with the addition of the tax. It is spread over so vast a surface among consumers, that its weight is not felt; being mixed up with the price of the article sold, its weight is not perceived. We pay in this way half the taxes of America, Germany, and all the countries to whom we chiefly export our manufactures. Let us return them the compliment, and adopt a system which will make them pay the half of ours. The whole, or nearly the whole, of the Income Tax, which now produces L.5,400,000 a-year, would by this change be spent in increased purchases in the home market, and sensibly relieve its sinking state. This change would at once obviate our external dangers—for it would enable Government, without sensibly burdening the country, to maintain the national armaments on such a scale as to bid defiance to foreign attack. We shall see in our succeeding paper whether it would not, at the same time, be an effectual remedy, and the only one that would be practicable, to the most serious part of our domestic evils.