Currency fallacies refuted, and paper money ... - University Library

S2PAPER MONEY VINDICATED.not the general character of our taxation ; theremay be, therefore, other circumstances connectedwith it which will have an effect onprices, considered with reference to individualsof the same country.That there are such circumstances will beclearly evident, when we consider that our largerevenue isnearly all derived from duties on thefollowing articles : vnalt, hops, beer, wine, spirits,sugar, tea, coffee, tobacco and snuff ;—corn, butter, cheese, currants and raisins, cotton,wool, silk, printed goods, hides and skins, paper,soap, candles and tallow, auctions, licences, coals,glass, timber, bricks, &c. From the taxes laidon these articles, under the head of customs,and excise, we raise the sum of forty millionsannually, and from the stamps, assessedta.ves, and post-office about fourteen millionsmore, making in the whole about fifty-fourmillions for the year 1830. All these taxes,or nearly all, are not directly drawn from theparties who are intended ultimately to paythem : they are first paid by the producer orvender, and he charges them with some profitfor his outlay, to the consumer, whence theyare called taxes on consumiption.Now how is the producer to charge thesetaxes to the consumer, unless he can add themto the natural price ? There is clearly no otherway. But if he adds them to the naturalprice, his commodities will then be so much