NOTE. The references to the data in the Statistical Tables are given
in a special index on pages 659–664.
Abatements, British income tax, 241-
242, 270-73; India, 257
Ability, subjective and objective, 163;
as measure of taxation, 163-64,
165-66
Absorption, theory of incidence, same
as diffusion theory, 185-87
Accounts, method of keeping, in
France and other countries, 53, 605
Accruals, system of accounting by, 563
Acworth Committee, on management
of Indian railways, 78-80, 428-29.
See Railways
Adams, H. C., classification of public
expenditure, 49; classification of
public revenue, 115; on Corpora-
tion tax, 332; on accruals, 563; on
Committee of Ways and Means, 572;
on deficiency bills, 566; place of his
work in financial literature, 18
Administration, cost of civil, 59-61.
See Financial administration
Administrative control, 558, 606
Ad valorem, definition of, 354; duties,
355, 363
Agricultural income of British India,
Agricultural land, taxation of, 140-41
Akbar, land revenue administration
of, 219
Alcázar de Arriaga, single direct tax,
American revolution, legend of, 579.
See United States
Amusement tax, 157, 397, 398-400
Annual rental, as basis of land taxa-
tion, 446, 447
Annuities, borrowing upon, 476
Anson, 557, 574, 587, 593
Anticipatory fund, definition of, 469
Apportioned tax, 208, 231
Appropriation Act, 573; absence of,
in India, 577
Appropriation Report, 608
Appropriations in U.S.A., 590
Argentina, external loan in, for de-
velopment, 479
Armaments, expenditure for the main-
tenance of, 55
Army, abolition of purchase of com-
missions in, 593
Asquith, Mr., Budget of 1907, 73
Assam, land revenue settlement, 222
Assessment, British income tax, basis
of, 276-77; method of, 249-53;
India, income tax, 257; land
revenue in temporary settlement,
Assessment, special, 113, 327; Selig-
man on the characteristics of,
113-14
Assessment, triple, 240, 266
Audit, definition of, 4, 599; objects
of, 609; report, 608; in U.S.A., 608
Auditor-General, 608
Augustus, on inheritance tax, 290; on
land tax, 209
Australasia, land tax in, 213
Australia, amusement tax in, 398, 399,
400; excess profits tax in, 339;
excise duty in, 380; federal and
provincial revenue, 152; federal
income tax in, 253-54, 277; inherit-
ance tax in, 295, 303-4; land tax in,
213-14; old age pension in, 74;
veto in, 591
Austria, capital levy in, 542; external
loan to re-establish national cur-
rency, 479
Avebury, Lord, diffusion theory of
taxation, 180, 185
Bagehot, Adam Smith characterised
as one of the most unbusinesslike of
men, 14; on the English Constitu-
tion, 581
Balfour, scheme of grant-in-aid to
Bank of England, custodian of Govern-
ment funds, 602-3; origin of public
debt in the advances of, 468
Bank of France, Napoleon on, 603
Barbados, estate duty in, levied by
the Estates Duty and Absentees
Act of 1895, 315
Barnes, 555
Bastable, Economics and Finance, 6;
classification of public revenue, 115;
canons of taxation, 127-28; capital
and revenue expenditure, 90-91;
direct and indirect tax, 115; place
of his work in financial literature,
18; non-economic expenditure from
income, 90
Beaumont, Moreau de, 122
Beccaria, 40
Belgium, octroi in, 437; succession
duty in, 319
Beneficial improvements, 215
Beneficial rates, 446
Beneficiaries, tax on, 291
Benefit, as canon of expenditure, 40-
41; as measure of taxation, 163
Bengal, amusement tax in, 399; land
revenue settlement in, 221; refusal
to vote Budget in, 594
Berlin, municipal constitution of, 442-
443; taxation of site value in, 457
Bernouilli, law of utility diminishing
in inverse ratio to means, 164
Betterment charges, 327
Betting, taxation of, 396-98
Bihar and Orissa, land revenue settle-
ment in, 216, 217, 221, 222
Bismarck and the Budget, 593
Blackett, Sir Basil, on unproductive
expenditure, 91; on the Finance
Committee, 558
Blackstone, on origin of public debt,
468; on property of public creditor,
470
Bombay, agricultural wages and the
value of agricultural products in,
216-17; debt of the city of, 466-67 ;
entertainment tax in, 154; land
revenue settlement of, 222, 224;
selling, mortgage, and letting value
of land in talukas of, 227
Bonds, tax on, 156
Bonus shares, tax on, 265
Borrowing, peculiarities of public: (1)
temporary requirements, (2) emer-
gencies, (3) public works in new
countries, 476; restrictions on, 9,
114. See Debt and Public debt
Bowley, method of calculating national
income, 409
Bryce, Lord, on veto in U.S.A., 592
Budget, annual voting of, 583; con-
tents of, 563; definition of, 553;
effects of the monsoon on, 560;
execution of, 598; extraordinary,
567; Ginwala's criticism of Indian,
5; preparation of, 557; reappro-
priations in, 590; refusal to vote,
593; requisites of, 564; scrutiny of,
10, 443; separation of railway from
the State, 432-33
Building land, taxation of, 450
Building rent, incidences of tax on, 198
Bullion, for currency purpose, 469
Burke, on the execution of the Budget,
Cadastre, 209; in India, 224
Canada, corporation tax in, 333; ex-
cise tariff in, 380; expenditure for
education in, 66; export duty in,
363; inheritance tax in, 303; in-
come tax in, 253; preferential and
reciprocal tariff in, 363; protective
tariff in, 362; powers of the two
chambers in, 574-75; ratio of debt
to revenue in, 466; sources of
revenue for federal ond provincial
government in, 151-52; veto in,
591; voting of the Budget in, 574
Canals, 425-26
Canard, diffusion theory of taxation,
186
Cannan, canons of taxation, 122; on
repayment of debt, 532
Canons of taxation, 123-28
Cape Colony, succession duty in, 305
Capital, meaning of, 131; taxation of,
292-93, 531, 539; objections to, 546
Carlyle, "books accomplish miracles”,
Carver, minimum regression as a prin-
ciple of taxation, 164
Castlereagh, on criterion of relative
taxable capacity, 148
Central Provinces, refusal to vote
Budget in, 594
Centralised system of government,
advantages of, 83
Certainty, as canon of taxation, 123,
126-27
Certification, 591
Ceylon, estate duty in, 314-15
Chancellor of the Exchequer, and the
Budget, 553, 571
Chicago, property tax in, 448-49
China, excise duty in, 387; land tax
in, 233
Cliff-Leslie, criticism of Ricardo's
abstract method, 184
Cohn, contributions to finance, 21;
classification of public expenditure,
Cologne, taxation of site value in, 457
Commercial activities of the State, 419
Commercial documents, duty on, 394
Commission, Royal, on income tax,
243, 266, 269; on double taxa-
tion, 173; Inter-state Commerce,
238, 431
Committee, Geddes (Great Britain), 5,
29-31, 56-57 Inchcape (India), 5,
31, 58; Acworth (India), 78, 80;
Select (Great Britain), on taxation
of 1906, 241, 266; Finance, of the
League of Nations, 172, 176; Col-
wyn (Great Britain), 484; Taxation
Committee (India), Preface and 404
Commodities, incidence of tax on,
189-91
Common benefit in public expenditure,
48-49
Commons, House of, powers of, 587;
on Budget estimates, 564
Comptroller and Auditor-General, his
functions, 33, 598, 600
Conference, International Shipping of
1921, 171; Brussels Financial, 100,
101, 102
Congleton, Lord, on overgrowth of
public expenditure, 16-17. See also
under Parnell.
Conjuncture gains, taxation of, 169
Consolidated fund, 33; origin of, 584
Consolidated fund services, 33
Consumption taxes, 323-26
Convenience, as canon of taxation, 124
Conversion of debt, 531, 533, 536
Corporation tax, basis of assessment
of, 334-35; in Great Britain, 333;
in U.S.A., 331-32, 335; in Switzer-
land, Germany, Canada, and Mani-
toba, 333
Corporations, privileges of, 332
Cost of service, as measure of distribu-
tion of tax, 163
Council of State, 577; ruling on initia-
tion of money bills, 582
Cours des Comptes, Fisk on, 606; on
extraordinary Budgets, 567
Crown property, 212
Curzon, Lord, estimate of per capita
income of British India, 141
Customs, economic considerations con-
cerning, 349-52; forms of, 354-56;
percentage of, to total, 354; in
England, 357-62; in India, 367-71;
in Australia, 363-64; in New
Zealand, 365-66; in South Africa,
366-67 in U.S.A., 372-74; in
Japan, 374-75
Czecho-Slovakia, capital levy in, 543
Dadabhoy Naoroji, estimate of per
capita income of British India, 141
Dead-weight debt, definition of, 475;
not a creation of wealth, 471
Death duties. See under Estate duty
and Inheritance tax
Debt, amount of world, 465-66; ex-
ternal, interest on, paid to foreigners,
61-62, 470, 475; for develop-
ment, 479, 485; direct and in-
direct burden of, 483-85; internal,
for productive purposes, 479; in-
terest on, redistributed within the
country, 470, 474, 483; its effect on
distribution, 483-84; methods of
estimating burden of: (1) total nom-
inal capital of different countries,
480; (2) per capita, 480-81; (3)
ratio of, to national income, 481;
ratio of, to revenue after the War in
Great Britain, United States of
America, France, Italy, Germany,
India, Canada, and Japan, 466; (4)
proportion of annual expenditure
on, to total revenue, 482; national,
meaning of, 467; origin of, 468;
points of difference between public
and private, 469; productive and
unproductive, 475; principles of
flotation of, 477
Decentralised system of government,
advantages of, 83
Defence, central subject, 84, 85; cost
of, 50, 53-58
Deficiency Bills, in United States of
America, 560; Adams on, 566
Deficit, avoidance of, in Budget, 45
Degressive taxation, definition of, 163
Derivative revenue, 116
Differentiation, expressions used in
different countries to indicate dis-
tinction between earned and un-
earned income, 268; objection to
the term unearned income by the
Royal Commission of 1920, 268;
deduction of one-tenth of earned
income in Great Britain, 269
Diffusion theory of taxation, 185-87
Diocletian, reorganisation of land
revenue, 210
Direct tax, definition of, 118-19; false
notion of a balance between, and
indirect tax, 160-61
Distribution of tax, theories of just:
(1) cost of service, objection, 163;
(2) benefit, objection, 163; (3)
ability or faculty, 163-65
Dog tax, 323
Domain, 116; the basis of public
revenue in early history, 416;
gradual diminution of land as a
source of revenue, 417; revenue
from State, in Great Britain, France,
Italy, Spain, Russia, India, 417-18
Donations, examples of conscience
money in Great Britain and con-
science fund in the United States of
America, 114
Double taxation arising from economic
solidarity of nations, 170-71; prin-
ciples of taxation according to
origin and residence, 171; methods
of avoiding, 172-77
Earned income, distinguished from
unearned income by the Finance
Act of 1907 of Great Britain, 241;
objection to its differentiation from
unearned income by J. S. Mill, 267;
deduction of one-tenth to arrive at
the assessable income, 270
East India Company, criticism of the
administrative function of, by
Adam Smith, 36
Economic rent, often mixed up with
other forms of income, 197
Economy, as a canon of expenditure,
42-43; as canon of taxation, 124-25
Economy and retrenchment, meaning
of terms, 29-30; Committee on Na-
tional Expenditure in Great Britain
and the Indian Retrenchment Com-
mittee, terms of reference, 29-31
Edgeworth, doctrine of maximum
sacrifice, 164
Education, in England, legislation for,
64-66; expenditure for, 66; per-
centage of illiteracy, 66; in the
United States of America, appro-
priation of land for, by the Govern-
ment of the United States of
America, 419; in India, percentage
of literacy, 68; want of primary
education, 68; per capita expendi-
ture for, 69; position of the
Dominions concerning, 66-67
Einaudi, Prof., Senator, 172
Elasticity, as a characteristic of good
revenue system, 109-10
Emerson, 556
Entertainment tax, definition of, 399;
exemption of, for philanthropic
purposes, 400; progressive rates of,
400; problem whether it is per-
manent or temporary, 399; revenue
from, in Great Britain, Australia,
Bombay, 399
Equality or equity, as canon of taxa-
tion, 123, 126
Essen, taxation of site value in, 457
Estate duty, one of the two sources
from which death duties in Great
Britain are collected, 297; rates of,
in Great Britain, 301. See Death
duties
Evasion of tax, 168, 278-82; Pareto's
law and, 282-87
Excess mineral rights duty, Great
Britain, 339
Excess profit tax, charged on profit
above a standard rate of trading
concerns and not of individuals, 335;
in the State of Georgia during the
American Civil War, 335; objec-
tions to, 336; standard of excep-
tions in Great Britain, 337-38; in
New Zealand, 339; in the United
States of America, 340-41; under
the Government of India Act of
1919, 339-40
Excise, articles suitable for duty, 377 ;
early history of, in Great Britain,
377-78; reforms of Pitt, Huskisson,
and Gladstone, 379; in Australia,
380-81; in Canada, 380; in China,
387; in France, 385-86; in India,
381-85; in Italy, 386-87; in Japan,
387-89; as indirect tax, 110;
statistics of revenue from, in different
countries, 376
Expenditure, distribution of, between
central and local Government, due
to historical conditions, 82, 86-87;
general considerations in the dis-
tribution of, 84-86, 88; percentage
of central, provincial, and local, in
different countries, 84; votable and
non-votable, 585. See Public ex-
penditure
Export duty, incidence of, 194;
generally unpopular as handicapping
the home producer, 350
External loan, direct and indirect
burden of, 483-85; for development,
479, 485; interest on, 470, 475
Extraordinary Budgets, 567
Family Budgets, collected by the
Labour Office, Bombay, 147
Federal Government, function of
security of, 85; sources of revenue
to, 151, 154, 157-58
Fees, definition, 113; difficult to dis-
tinguish from tax, 113; judicial,
commercial, and other, 393, 394
Feudal aids, as a form of land tax,
210
Finance, public, and economics, 6;
and statistics, 6-7; method of, 7-8;
history of, 11-24
Finance, public, meaning, 3; French,
German, and Italian equivalents of
the term of, 3-4; main divisions of, 4
Finance Bill, 576
Finance Committee, remarks of Sir
Basil Blackett on, 558
Finance Minister, absence of, in India,
557; definition of, by Low, 554;
qualifications of, 556
Financial administration, definition of,
553
Financial department, powers and
duties of, 558, 590, 606
Fiscal period, 561
Fiscal year, 560
Forests, policy of Russia concerning,
417; in India, 418
Fox, on withholding subsidies, 593
France, amusement tax in Paris, 157;
annual voting of the Budget in, 583-
584; business turnover tax, 156,
261, 401; central revenue heads in,
prior to 1914, 155; changes between
1914 and 1920, 155-56; collection of
revenue in, 601; conversion of debt
in, 536; customs in, 372; distribu-
tion of debt between funded and
floating, as on 31st March 1923, 520;
excise in: (1) those under monopoly
conditions, (2) ordinary excise
duties, 385; extraordinary Budget
in, 567; financial policy of, during
the War, 523-27; fiscal period in,
561; general income tax in, 155,
238, 261; history of pre-War debt,
521-24; land revenue in, percentage
of, to total, 417; national debt of,
from 1713 to 1923, 520; legislative
control in, 607; octroi in, 437, 455;
old age pension in, 74; powers of
the two chambers in, 589; public
debt in 1923, 473; railways, 430;
ratio of debt to revenue, 466; re-
fusal to vote Budget in, 594; State
monopolies, 156; succession duty
in, 318; statistics of ordinary
receipts and extraordinary receipts,
including internal debt and external
debt, 521
Funded Loan, 475-76
Geddes Committee, on National Ex-
penditure in Great Britain, 5; terms
of reference, 29; recommendations
relating to statistics and prison
labour, 30-31; examples of re-
trenchment, 31; on extent of bene-
ficial work of the State, 38; on
reduction of expenditure for
defence, 56-57
General Property tax, main source of
revenue for State and local autho-
rities in U.S.A., 154; practical
working of, 232
Germany, business turnover tax in,
401-2; capital levy in, 542; con-
stitution of, 569; contribution of,
to financial literature, 19; corpora-
tion tax in, 333; distribution of
revenue between Federal and State
Governments of, as before the Great
War, 84; as after the War, 157;
excess profits tax in, 335; grant
from State revenue to local revenue,
459; land tax in, 447; military
Budget in, 583; octroi in, 456;
partial repudiation of debt by, 539;
public utility enterprises tax in, as
a source of local revenue, 456; ratio
of debt to revenue in, 466; succes-
sion duty in, 318
Gibbins, effect of the industrial revolu-
tion on labourers, 203
Giffen, Sir Robert, on incidence of tax
on property and profits, 180; esti-
mate of India's wealth, 481 note
Gifts, as source of public revenue, 114;
exemption of, under certain con-
ditions from taxation under death
duties of Great Britain, 300
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