Ginwala, criticism of Budget with
reference to India, 5

Gladstone, conversion of debt by, 535;
on direct versus indirect tax, 342-43;
on financial confusion resulting from
a disregard of balance between
income and expenditure, 45-46;
"good finance consisting more in
the spending than in the collecting
of revenue ", 32; on evasion of
income tax, 280-81; on the income
tax, 109-10, 239; on the justifica-
tion of death duties, 291; on
supplementary grants, 566; tariff
reform of, 354, 359, 379

Goschen, conversion of debt by, 535
Goulburn, 494; conversion of debt by,
534

Government, classification of functions
of, 49-50; initiation of money bills
by, 574, 580

66

Gratuitous revenue, 116
Great Britain, amusement tax in, 399,
400; Budget in, 557, 563; capital
levy in, proposals for, 545; corpora-
tion tax in, 333; customs duty in,
early history of, 357-60; as existing
at the present time, 360-62; death
duties in, collected under (1) estate
duty, (2) legacy duty, 297-303;
direct consumption taxes in, 323-
326; excess profits tax in, 336-39;
fiscal year in, 560-61; house-duty
in, 324-25; income tax in, history
of tenths and fifteenths", 240;
assessed taxes including triple
assessment of Pitt, 240, changes
between 1894 and 1920, 241-44;
schedules of, 244-49; land tax in,
210-13; legislative control in,
607; mining in, 420; percentage
of national and local expenditure,
83 percentage of non-tax revenue
to total ordinary revenue, 413;
poor law in, 71-72; post office,
telegraph, and telephone in, revenue
from, 425; powers of the two
Houses in, 587; public debt in, dis-
tribution of, in the pre-War time and
at the present, 498; history of, 488-
491; main features of, in tabular
form, 489; railways in, fiscal results
of, 427; sinking fund in, history of,
491-95; State domains, percentage
of revenue from, 417; statistics of
tax revenue and non-tax revenue,
120; unemployment insurance in,

74; voting of the Budget in, 571;
War-time finance of, twenty-five
votes of credit for, 498: forms of loan
for, 500; main features of, 500-502
Greece, capital levy in, 543
Grenville, Lord, his essay "on the sup-
posed advantages of a sinking fund,"
493

Hadley, on certainty as a canon of
taxation, 126; on the distinction
between direct and indirect tax, 118;
on State versus private management
of railways, 428

Hamburg, wine cellar and apothecary's
shop, as sovereign's source of
revenue, 111

Hamilton, Alexander, on the necessity
of foreign capital for development,
485, 557

Hamilton, Robert, fallacy of Pitt's
sinking fund, 15-16; proposal of
sinking fund of, Dr. Richard Price,
492; his twelve maxims of finance,
495-97

Harcourt, Sir William, on death duties
of Great Britain, 298-300
Harrington, on inheritance tax, 316-17
Hearth tax, 324

Henderson, on capital expenditure,
97

Henry IV., on the power of the
Commons, 587

Hereditary charges, 446-47
High Commissioner of India, Budget
of, 560

Hock, von, contribution to the science
of public finance, 20

Holland, octroi, 437; succession
duty, 290, 319; sovereign's fund,
111

Hopkins, Sir Richard, on capital levy,
545
Hume, 12, 542

Hungary, capital levy in, 543

Huskisson, tariff reform of, 354, 359,
379

Hutcheson, on capital levy, 542

Impact, definition of, 187
Import duty, popularity of, 350, 352;
incidence of, 192-94

Impôt unique (of the Physiocrats), 13,
178

Inchcape Committee, 5, 30, 31, 58.
See Economy and retrenchment
Incidence of tax, definition of, 181, 187;

on building rent, 198-200; on com-
modities, 189-91; on interest, 200;
on monopoly, 191-92; on profits,
201; on quasi rent, 201-2; on rent,
196-98; on wages, 202-7; on
articles of international trade, 192-95
Income, general characterisation of,

131; national, calculation of: (1)
personal income or aggregate in-
come method (example of Great
Britain), 136-38; (2) the produc-
tion method (example of India),
138-47, 409

Income tax, abatement in (Great
Britain), 241-42, 270-73; (India),
257; basis of assessment of, 276-
278; collection of, at the source, 273-
275; differentiation in, between
earned and unearned, 268-70; ex-
emption limit in, reasons for, 273;
graduation in, meaning, 162, 266;
methods of effecting, 266; criticism
of Gladstone and Mill, 267; based
on the principle of diminishing
utility, 267; percentage to total
tax revenue in different countries,
237; Royal Commission, terms of
reference, 238; in Great Britain,
239-53; in British Dominions, 253-
255; in India, 255-58; in United
States of America, 258-60; in Japan,
260-61; in France, 261
India, agricultural income of British,

for 1920-21 and 1921-22, 139-41;
constitution of, 570; Budget in,
preparation of, 557; voting of,
576; customs duties: history (1)
up to the year 1861, 367-68;
(2) free trade period (1862-1915),
368-69; (3) War and post-armis-
tice period, 369-70; (4) period
beginning with the year 1922, 370-
371; of customs tariff, forms of,
354-56; death duties in the Moghul
period, 306; possible methods of
levying, 308-14; debt in, history of
conversion of, 506-8, 536; ratio of,
to revenue, 466; in tabular form,
511; productive and unproductive,
472; excise, 381-85; excess profit
tax, 339-40; forest, 418; income
tax introduced by James Wilson
in 1860, 255; Act II. of 1886 and
Act XI. of 1903, 256; at present
governed by Income Tax Act (Act
No. XI.) of 1922, 256; graduation
in, 257; local finance, 439; initia-

tion of money bills in, 582; land
tax, 216-31; legislative control in,
607-8; non-agricultural income of
British, 143-46; octroi, 390-91;
poll tax, 322; percentage of non-tax
revenue to total revenue, 413;
irrigation, 422; postal, telegraph,
and telephone services, net revenue
from, 425; preparation of the
Budget, 557; railways : fiscal

result of, 427; management of, 428-
429; separation of railway budget
from general, 433; rupee loan and
sterling loan in, 512-13; sources of
central and provincial revenue, 152-
153

Indirect tax, definition of, 117-19;
case for, 346; imposition of, general
considerations for, 347-48; regres-
sive nature of, 347; percentage to
total tax revenue in different
countries, 344-45

Inheritance tax, 179; argument for
and against, 291-93; general prin-
ciples of, 289-92; Rignano's scheme
of, 293-94; whether the tax should
be levied by the Federal or State
Government or by both, 294-97;
in Great Britain, 297-303; in
Dominions, 303-6; in India, 306-
314; in Crown Colonies, 314-15; in
United States of America, 316-17;
in Japan, 317-18; in France, 318;
in Germany and other countries,
318-19

Irrigation, as & source of public
revenue, 422

Italy, capital levy, 542; contribution
of, to the science of public finance,
22-23; excise duty, 386-87; public
debt as on 30th April 1924, 527;
State monopoly, 348, 376, 386;
octroi, 348; statistics of public
debt of, 528; succession duty, 319

Jack, estimate of cost of consumption
in Bengal, 147

Jamaica, succession duty in, 315
Japan, business tax, 401; extra-

ordinary Budget in, 567; excise
duty, 387; income tax, 260-61;
inheritance tax, 317-18; land
revenue, 230-31, 234-35; local
finance, 440; public debt, history
of, 530; ratio of, to revenue, 466;
statistics for 1914-23, 529; tariff
system, 374-75

Johnson, on excise, 378; definition of
second marriage, 568
Judiciary, control by, 606

Klingenberg, forests and claypits as a

source of local revenue, 456

Labour Party, on capital levy, 540
Land revenue whether rent or tax, 216
Land tax, characteristic of, 208-9; in
Rome, early history, 209-10; in
England, history, 210-12; land tax
and Schedules A and B of income
tax, 212; in Australia and New
Zealand general features, 213-14;
in India, percentage to total agri-
cultural produce, 216; systems of
land revenue settlement: (1) per-
manent settlement, 220-21, (2)
temporary settlement, 222-24; rates
of assessment per acre in different
provinces, 226; statistics of land
revenue with reference to permanent
and temporary settlement, 227-28;
in United States of America, 231-32;
in China, 233-34; in Japan, 234-35
Legacy duty, 302-3

Legislative Assembly, 577; ruling on
initiation of expenditure, 569; re-
fusal to vote Budget in, 594
Legislative Council, ruling on votable

and non-votable expenditure, 585;
ruling on initiation of money bille,
583; refusal to vote Budget in, 594
Legislature, powers of, in United

States of America, 578-79; control
by, 607

Leroy-Beaulieu, arbitrariness of pro-
gressive taxation, 167 note; in-
tention of legislation at the basis of
distinction between direct and in-
direct tax, 110

List, Friedrich, on protective duties,
352

Lloyd George on the debt of bel-
ligerent countries, 465

Loan, financial supervision as a check

on public, 467; lottery, 490-91
Local debt, increase of, due to exten-

sion of administrative functions, 466
Lottery, monopoly of, 386; taxation,
396; loan, 490-91

Madras, thirty years' term of land
revenue settlement, 222; tax on
toddy, 382

Magna Charta, ancient and equitable

duties and the old customs, 210;
restrictions on land tax, 210, 572
Mansfield, Lord, diffusion theory of
taxation, 181, 185

Marshall, estimate of economic wealth
of a nation from the aggregate
national income multiplied by the
average income, 142; inheritance
tax, objections to, 292; on the
function of analysis and deduction
in economics, 8; on the temptation
of exaggerating the economic evils
of the present age and ignoring
those of the past, 23-24
Mase-Dari, 162

May, Sir Erskine, on land revenue of
Great Britain at the end of William's
reign, 417

Mazzola, 162
McCulloch, J. R., 16, 17; justification
of loan for national security, 94, 471;
on capital levy, 542; on the true
nature of the sinking fund, 548
McKenna, Right Honourable R., on the
taxable capacity of Great Britain,
136

Meston, Lord, on the revision of land
revenue settlement in India, 230;
on certification, 596

Mexico, national railways of, 430
Mill, J. S., classification of public ex-
penditure as necessary and optional,
50; on the equality of tax, 164;
incidence of tax on wages, 205-6;
direct and indirect tax defined, 117;
progressive taxation, objections to,
167

Mineral rights, duty on, 212
Minimum consumption, 132-43
Minimum sacrifice, as a doctrine of
taxation, 164

Minimum subsistence, meaning of, 132
Mobility of capital and labour, as a
condition in the shifting of tax on
commodities, 189

Mollien, le bon, appreciation of
Wealth of Nations, 14

Monopolists manipulate the output
so as to yield the highest revenue,
191

Monopoly, State, 376, 385-86, 421
Monopoly gains, tax on, 169; in-
cidence, 191-92

Montesquieu, 12, 166; cost of defence,

55

Moreau de Beaumont, Adam Smith's
indebtedness to, 122

Motor cars, tax on, 325-26: statistics
of, 326

Munitions levy, 336-37

Natal, succession duty in, 305
National income, relation of, to public
expenditure, 102-5; percentage of
ordinary expenditure in different
countries to, 103

Natural liberty, function of the sove-
reign according to the system of, 36
Nebenius, 20

Necessities, avoidance of tax on, 166;
incidence of tax on, 190

New South Wales, betting tax, 397;
death duty, 304

New Zealand, charitable relief, 72;
death duty, 305; excise duty, 380;
excess profit tax, 339; income tax,
254; tariff system, 365
Nicholson, 18; on common benefit
and some special benefit in all kinds
of public expenditure, 48, 49;
public expenditure on utilitarian
principle, 41; public expenditure,
classification of, 49
Non-agricultural income of British
India, 144-46

North, stamp duty upon any receipt
for any legacy or share or residue of
the personal property of a deceased
person, 290

Northcote, Sir Stafford, formation of
his new sinking fund in 1875,
494

Norway, succession duty in, 319

Occasional profits, taxation of, 265-66
Occupier, incidence of building rent
tax on, 198-200

Octroi, 386, 389, 455-56

Ohio, valuation of real property in, 232
Onerous rates, 446

Opium, duty on, 381

Ordinary and extraordinary expendi-
ture, 53

Osgood, Prof. Herbert, 579

Paper currency reserve, 603
Pareto's law, as test of accuracy of
income tax returns, 282-84
Parliament, financial powers of, 557,
573, 587; ruling on voting of ex-
penditure, 585

Parnell, on overgrowth of expendi-

ture, 16-17; on scope of expendi-
ture of Government, 37; on control

and audit, 599. See also under
Congleton.

Paterson, William, 468

Peel, tariff reform, 354, 359, 360;
income tax, 240, 241, 249
Pelham, conversion of debt by, 533
Pennsylvania, inheritance tax in, as
early as 1826, 290

Pensions, qualifying age of, 75; rates
of, in Great Britain, 75; whether it
should be contributory or non-
contributory, 75

Permanent settlement of land revenue,
220-21; future solution of the
problem of, by the introduction of
income tax similar to that of Great
Britain, 229

Petition of Rights, 573

Physiocrats, doctrine of taxation, 12;
impôt unique, 13, 178; produit net,
13, 123
Pierson, 23

Pigou, on capital levy, 539
Pitt, assessed taxes, 240; income tax,
objections to differentiation in, 268;
evasion of, 280; land tax, 211;
triple assessment, 240; graduation
in, 266; his struggle with Fox, 593
Plehn, classification of public ex-
penditure, 48; inheritance tax in
U.S.A., 296

Poland, health insurance in, 74;
capital levy in, 543

Poll taxes, believed to be the earliest
in origin, 208; early history, 320-21;
in U.S.A., 322; in India, 322; in
South Africa, 322; objections to,
323

Poor relief, in England, 71-72; in
Germany, 72; in France, 72; in
New Zealand, 72; no system of, in
India provision against famine
relief, 72-73

Post Office, 85; principles of charging
revenue, 424; functions of, 424;
whether Post Office should produce
a considerable revenue to State or it
should simply pay its way, 424; net
revenue from, 425

Price, definition of, 114; relation to
interest, 471, 485

Price, Dr. Richard, his scheme of sink-

ing fund in his treatise on Revolu-
tionary Annuities, 492
Prideaux, Edmund, 423
Produit net, 13; tax on, 123, 182
Professional earnings, taxation of, 342

Profits, elements of, 201; incidence of
tax on, 201; taxation of excess,
335-41
Progressive taxation, definition of, 162;
supporters among the precursors of
Adam Smith, 166; objections of
the classical economists, 167; in-
creasing popularity since the Great
War, 167; relation to nature of
income, 168-69; future of, 167, 170;
relation to proportional sacrifice,
164-65
Property, movable and immovable,
298; rates on, in England, Wales,
and Scotland, 445-47; in Germany,
447-48; taxation of real, main
source of local revenue in U.S.A.,
448-49. See General Property

165
Protective duties, contrasted with
revenue duties, 351; general econ-
omic considerations concerning,
351-52

Prussia, fiscal year in, 560; property

transfer tax, 448; rates on pro-
perty, 447; local income tax, 452-
454; State railways of, 429; refusal
to vote Budget in, 593
Public debt, expenditure on, 531;

conversion of, 533-38; history of, in
Great Britain, 488-91; in India,
503-513; in U.S.A., 514-19; in
France, 519-27; in Italy, 527-29;
in Japan, 529-30; repayment of,
531; repudiation of, 538; Prof.
Cannan on, 532; A. M. Samuel on,
532

Public expenditure, canons of, 40-46;
check on, 32-33; compared with
private expenditure, 33-35; classi-
fication of, 47-50; distribution of,
between central or Federal and local
or provincial Governments is the
result of historical conditions, 82-
83; distribution of the main heads
of, in different countries, 83-85;
economy and retrenchment in, 29-
32; from capital, 89-102; normal,
of a country determined by his-
torical conditions or previous legis-
lation, 32-33; in different countries,
53-54 (table); percentage distribu-
tion of, in different countries, 83-84;

percentage of, to national income,
102-5; productive and unproduc-
tive, 102; scope of, from individual-
istic standpoint, 36-37; from socio-
political standpoint, 37-39

Quasi-rent, definition of, 201 note;
incidence of tax on, 202

Queen Victoria, on death duty in
Great Britain, 298

Queensland, death duty in, 303.
304

Quesnay, 13; on incidence of tax on
land, 182

Railways, fixing of rates, 431-32;
Inter-State Commerce Commission
on, 431; financial results of, in
different countries, 427; State
management of, Acworth Com-
mittee's arguments for and against,
427-29; in Prussia, 429; mileage
of State - managed, in different
countries, 428; proportion of world's
mileage of, in different countries,
426; separate Budget for, 564
Rate, meaning of, 445; on property
88 a source of local revenue,
445-47

Rau, contribution to the science of
public finance, 20
Registration duties, 392

Regressive tax, definition of, 162, 170,
347

Religion, expenditure on, in Great

Britain, 70; in France, churches
separated from State in 1915, 70;
Welsh Churches Acts 1914 and
1920, 70

dis-

Rent, not a factor affecting price, 196;
tax on, Adam Smith's theory of, 183;
Ricardo's theory, 196; incidence of
tax on, 196-98
Repudiation of debt, 531, 538
Revenue, classification of, 115-17;
collection of revenue, 601;
tribution of central, provincial and
local, determined by historical
conditions, 150; distribution of,
in United Kingdom, 150-51; in
Canada, 151-52; in Australia, 152;
in South Africa, 152; in India, 152-
154; in U.S.A., 154-55; in France,
155-56; in Germany, 157-58
Revenue system, characteristics of a
good-elasticity, productivity, and
sufficiency, 109-10, 125-27