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A62081 To the knights, citizens, and burgesses, in Parliament assembled, the proposals of William Sydenham, esquire, for the raising a considerable revenue to His Majesty, by a tax on mony, proportionable to that on land; which he humbly layeth before your honours great wisdom and consideration Sydenham, William, d. ca. 1738. 1696 (1696) Wing S6320A; ESTC R219144 4,216 1

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that in case the Live Cattle are not bought at Fairs or Markets that then they shall have ten Days time to pay in the King's Duty and to procure their Receipts from the King's Commissioner or Receiver under the Penalties aforesaid IX That One Pound Five Shillings per Cent. per An. shall by the Lenders be paid to the King out of all Money now lent on Mortgages Bonds Specialties or Notes to the full value of such Money lent on Mortgages Bonds Specialties or Notes upon the Assigning or Transferring or Altering the Property hereafter at two several equal Payments in the Year to wit at our Lady-day and Michaelmas during the Continuation of such Mortgages Bonds Specialties or Notes The Titles of such Mortgages and also such Bonds Specialties and Notes not to be Good Pleadable or Recoverable either at Common Law or in Equity without the Person who lent the Mony produces from the King's Commissioner or Receiver a Receipt under his Hand and Seal or a true Copy from his Book of Entries that he had paid the King's Duty aforesaid and also in Default to forfeit one moiety to the King the other to the Informer X. If any Person contrary to the true meaning of this Act shall make any Contract to avoid and elude this Act or any part or Clause thereof he shall forfeit One Hundred Pound one half to the King the other half to the Informer over and above the Penalties oforesaid The aforesaid Proposals being duly weighed and considered I am perswaded they will find very few Objections if any which cannot easily be Answered Due Ballances are the Interests of all Governments and not of the least concernment in Taxes The Body Politick bearing very much Proportion with the Natural Body the one part of it being uneasie the whole is affected The Mony of this Kingdom bears a great Proportion with the Land almost equalizing it And yet it hath paid but a very little share of the Taxes Land hath born the heat and burthen of the day And although it hath been endeavoured by several Acts of Parliament to make the Mony of the Kingdom pay its due Proportion yet how ineffectual have they all proved not being enforced with Penalties which are commonly better and more effectual means to force Obedience than Oaths and Tests This One Pound Five Shillings per Cent. on Mony is but three Pence per Pound which is but One Shilling more than the intrinsick Value of the Land Tax of Four Shillings the Pound For One Hundred Pound in Mony according to the Established Interest brings in Six Pound per Ann. And One Hundred Pounds worth of Land hardly brings in Four Pound per Ann. all Charges being deducted And therefore this Tax proposed on Mony can give no just Cause of Complaint to any who are Friends to the best of Interests and willing to Support the best of Causes Besides if we consider the uneasie Circumstances which many are under who are Possessors of Land which do not so often attend those who command Mony it will appear the more reasonable that Mony should no longer escape paying its share and proportion and especially of so small a Dividend seeing it's demonstrable that a Tax on Mony will be a means to advance the Price of Land for the Taxes on it hath occasioned several Persons and more will follow their Examples to sell their Lands and conceal their Mony not liable to the Inspection of Assessors so that all Thinking Men must grant the Price of Land must fall except there is a Tax laid on Mony or some other way prevented by the Wisdom of Parliament The greatest part of the Mony in the Kingdom doth Circulate in those Particulars before mentioned And I believe it will be no easie Matter by any shifts ●o avoid paying these Duties to the King without great hazard and danger This will raise yearly a very considerable Summ without racking Invention Merchants will have no cause to complain because the product of their Goods return'd home by Bills of Exchange pays nothing at the Custom-House Mony in Banks hath no reason of Complaint for its Interest and Advantage turns to the best Account of any Mony in the Kingdom Trades-Men have no reason to think it hard on them for their Stocks have paid little towards the Charge of the War Farmers and Husbandmen have as little cause to complain of these Proposals as any for They grew Rich whilst their Landlords grew Poor their Stocks always escaping the Tax If all Persons who are herein concern'd would be Impartial they must confess that nothing is hereby proposed but what is for the Interest both of King and Kingdom and no Impeding but rather Promoting Trade And if every Man with Cheerfulness would part with a Little rather than lose All we might with Assurance expect and hope for good Success in so Just a War under the Conduct of so Brave a Monarch to Whom God Almighty grant a long and prosperous Reign All which is Humbly Proposed and Submitted to the Consideration of the Parliament c.