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The National Income and Taxation (Classic Reprint)

The National Income and Taxation (Classic Reprint)

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Excerpt from The National Income and Taxation

There are indications that before long the profound apathy which has prevailed in this country during recent years on the subject of finance and taxation, may be succeeded by a re-awakened interest, and receive some degree of public attention.

The foreign policy of the last two Administrations has culminated in an expenditure during the current year of nearly ^100,000,000; and although, if peace is preserved, it may be hoped that considerable reductions in this amount may be made in the future, it is now clear that the average expenditure of recent years will be permanently exceeded.

The politicians, however, who are most keenly alive to the moods and dispositions of the electoral body, do not appear to have found it desirable, or, perhaps, possible, to sound the note of retrenchment or economy. On the contrary, leading Liberal candidates have, for the most part in their recent appeals for popular favour, vied with their Tory rivals in admitting the necessity of a large and liberal public expenditure for the purposes both of war and peace. So great, indeed, has been the change in the sentiments of the British people in this respect, that the temper of mind for which the phrase " ignorant impatience of taxation " was invented, has probably no meaning, and has become unintelligible to the mind of the present generation.

It must further be observed that this remarkable change of opinion has coincided with an unprecedented growth of the public burdens for the normal requirements of the country.

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