English Taxation 1640 1799 An Essay On Policy And Opinion

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It is to be remarked also that the finance of 1714-76 became less easy in the later years, and that the division at 1776 might, for purely financial purposes, be carried back perhaps to 1756.
* Retitrn of Public Income and Expenditure, 1869, i. 50-53, 174-7, 220-1.
152 1776-1799 the proper way to raise money upon the subject for the service of the state. There had come into existence a revised and improved canon, in which it was possible for an enlightened generation to take a comfortable pride
.... But the canon had grown strong during a period when no clamant need existed to test it ; it was not a canon embodied in the system of taxation. The test came in this period. Much money was needed. Here was the opportunity to live up to the accepted principles. The Chancellors of the Exchequer made the attempt ; and they failed. Yet because the canon was influential, and the test which it failed to meet one of mere practica- bility, they did not cease to adhere to it. They did not understand its weakness, and in contravening it they merely appealed to necessity.

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