The heavy expenses incurred during the reign of William III. and the intro duction of the funding system, caused a variety of new taxes to be imposed, and considerable additions to be made to those which previously existed. The hearth-tax was abolished, and the land tax was levied by a new assessment, which has continued ever since. The malt-tax, the tax on hawkers and ped lars, on hackney-coaches, with many other new taxes, were introduced, which, with the augmentation of the customs and excise, raised the total amount of the public revenue, at the death of King William, to about double its amount at his accession. During the succeeding reigns, an almost infinite number of taxes have been imposed, in order to render the revenue adequate to the payment of the interest on the great accumulation of public debt, and to support a constant ly increasing expenditure. The produce of different duties formerly constituted separate funds, appropriated to specific purposes ; thus the several taxes which were rendered perpetual by 3 George I. c. 7, formed a fund called the general fund, distinct from the aggregate fund, and South Sea fund, before established ; but, of late years, the whole produce of all the branches of the public revenue has been brought into one fund, called the consolidated fund.
The various duties constituting the total public revenue of Great Britain, are arranged under the following heads : 1. The Customs, which consist of du ties on goods imported, on goods export ed, on goods carried coastways, and a tonnage ditty. The total gross produce of this branch of the revenue, in the year end i ng 5th January, 1808, was 12,638,985/. Os. 51d. which being subject to various deductions for drawbacks, bounties, charges of management, &c. rendered the net produce applicable to national purposes, 10,193,172/. 19s 54d.
2. The Excise, which consists princi pally of duties on malt, and malt-liquors of every kind, including the distillery ; many other articles are, however, like wise included, as candles, leather, soap, starch, tea, coffee, wine, tobacco, salt, glass, printed goods, and bricks and tiles. The total gross amount of this produc tive source of revenue, in the year end ing 5th January, 1808, was 25;941,630/. 13i. 8d. which was reduced, by allow ances, drawbacks, and charges of manage ment, to 24,169,7161. 138.
3. Stamp Duties, laid on deeds and do cuments of almost every description. This mode of taxation was introduced into England in the year 1671, and reviv ed in 1694, when a particular set of com missioners were first appointed for ma naging these duties ; the produce was at first of small amount, but new duties being imposed, to which numerous addi tions have been since made, it has gra dually increased, and in the year ending 5th January, 1808, the gross amount was 4,543,9711. 17s. 51d. This amount is sub
ject to various deductions, as, the charges of management, discounts, and other par liamentary allowances, the cost of parch ment and paper for the country distribu tors, an allowance to the two universities on almanacks, and other incidental ex penses, which reduced the net produce to 4,458,7381. 14s. Oid.
4. Land and Assessed Taxes. The land tax for many years differed from all other branches of the public revenue (except the old malt. duty) in being granted an nually ; it was, however, regularly conti nued from year to year, never being wholly taken off, but it varied with re spect to the rate at which it was impos ed, having been usually reduced during peace, and increased again in time of war, to answer in part the increased ex penditure. From 1776 to 1798, it was regularly continued at 4s. in the pound, at which rate it was supposed to produce 1,989,6731. 78. Did. for England, and 47,9541. ls. 2d. for Scotland, making in the whole 2,037,6271. 9s. Ofd. ; there was, however, a constant deficiency, to the amount, at an average, of about 235,0001. per annum, varying according to the re gularity with which the tax was collect ed, and the amount of the different charges to which it was liable. In 1799 a scheme-was adopted for the redemp tion of the land tax, for which purpose an act was passed, making the tax per petual; it was then offered for sale to the proprietors of the lands upon which it was charged, or, if they declined it, to any other person who chose to become a purchaser. The consideration to be given in either case was not to be in mo ney, but in three per cent. stock ;,the ob ject of the scheme being to absorb a large quantity of floating stock, and thus facilitate the raising of new loans. It was estimated that this measure would trans fer about eighty millions of stock to go vernment, but the terms offered were by no means such as to induce a general ap proval of it, and the total amount of stock transferred for land-tax, redeemed on the first of February, 1808, was only 22,976,829/. 108. 4d., of course a very considerable portion of the tax still re mained unredeemed. The assessed taxes consist of the duties on houses, windows, servants, carriages, horses, and horse dealers, hair powder, and armorial bearings. The gross produce of the land and assessed taxes, in the year ending January 5th, 1808, was 6,909,190/ 12s.
; and as the balances in hand at the beginning of the year exceeded the charges of management and other pay ments, the total net amount, applicable to national purposes, was 7,073,5301. 10s. 8 Id.