Money Answers All Things [41]
than they can do whilst the supply for the Government is raised on Goods. Nor can this possibly be otherwise, unless the Money circulating amongst the People be not sufficient to augment the Rents so much: And though I allow it is not, yet I verily believe, if all the Taxes were taken off Goods, the Money we have would be found sufficient to augment the Rents, equal to the Taxes that would be needful to be laid on them; or, at least, that it would prevent any considerable Fall of the present Rents of Lands in general, even though so much Land were to be added and improved, as would be needful to answer the Purposes I am persuing in this Essay. But perhaps it will be asked, if taking the Taxes off Goods will not in the End lower their Prices to the Consumers; as it certainly will not, because the Prices of all Commodities in general do necessarily depend on the Quantity of Money circulating amongst the People: I say, perhaps it will be asked, what Advantage the taking the Taxes off Goods will be to Trade? I answer, First, That all the Hands now employed in raising the Taxes on Goods, would be gained to contribute their Quota of Skill and Labour to encrease the publick Stock, who now, by living on the Publick, eat up so much of it as their whole Maintenance and Support amounts to, and thereby are at least a double Loss to the Nation of so much. And next, I say, that the Advantages that will arise to Trade by taking the Taxes off Goods, must be measured by the Inconveniencies which the Taxes on Goods occasion to Trade; and as these are felt by all to be prodigiously great, so the Advantages which will arise to Trade by taking the Taxes off Goods, must be found by all to be prodigiously great too, since they are Opposites that just equal each other. And perhaps it may be asked, how the Price of Goods can be so strictly governed by the Quantity of Money circulating amongst the People, since the Prices of them frequently vary very much? I answer, that though the Seasons, and other Circumstances will indeed always vary the Prices of all Sorts of Things, yet it must be allowed that the Rise of Goods will necessarily lessen the consumption of them, and that the Cheapness of Goods will so much augment the Consumption of them, as in the Event to make the Effect the same, as if they were strictly and invariably governed by the Quantity of Money circulating amongst the People. And perhaps it will be objected; that if all the Duties were taken off Goods, Goods imported would, in this Respect, have Preference to our own Goods, which in the End must pay both Rent and Taxes; but foreign Goods would in this Case pay neither. In answer to which, I say; that since we must deliver Goods of our own Produce, equal in Value at least to those we import, as hath been shewn, the Goods we import should be deemed to have paid Rent and Taxes, since they stand only in lieu of others of equal Value, which have paid both. I am induced to treat on this Way of raising the Taxes rather than on Goods, because it may seem difficult, if not impossible, to get Hands enough to go into Tillage, etc. to carry this Proposal to its Perfection; and also because I have before shewn, that Trade, manufactures, etc. will probably not be able to spare so many Hands, since the Demand for them will certainly cause better Wages to be given to Artificers, and Manufactures, etc. than Plowing and Sowing will ever do: For Plowing, and Sowing, etc. reduce the Rates of Labour; but a Demand for Artists in the Manufactures always raises the Rates of Wages; therefore these will always, of themselves, draw the working People to them, if they are wanted. And hence I conclude it needful, in order to carry this Proposal as far towards the End proposed, as the Nature of Things will admit, that the Taxes should be as gradually taken off Goods, and all the Officers in the publick Revenue, as gradually discharged, as this Proposal can be executed; that they may get their Livelihood in such a Way as will increase the publick Stock of Plenty, and that we may have none