The Elements of Political Economy

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Sheldon, 1878 - Economics - 403 pages

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Page 250 - A direct tax is one which is demanded from the very persons who, it is intended or desired, should pay it. Indirect taxes are those which are demanded from one person in the expectation and intention that he shall indemnify himself at the expense of another: such as the excise or customs.
Page 249 - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection 1 of the state.
Page 249 - The tax which each individual is bound to pay ought to be certain and not arbitrary. The time of payment, the manner of payment, the quantity to be paid, ought all to be clear and plain to the contributor and to every other person.
Page 250 - Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as little as possible, over and above what it brings into the public treasury of the state.
Page 54 - One of those boys, who loved to play with his companions, observed that, by tying a string from the handle of the valve which opened this communication, to another part of the machine, the valve would open and shut without his assistance, and leave him at liberty to divert himself with his playfellows.
Page 169 - This sum is not regarded as unalterable, for it is augmented by saving, and increases with the progress of wealth ; but it is reasoned upon as at any given moment a predetermined amount.
Page 119 - The tip of the horn, is used by the makers of knife handles, and of the tops of whips. 4. The interior or core of the horn, is boiled down in water. A large quantity of fat rises to the surface. This is sold to the makers of yellow soap. 5. The liquid itself, is used as a kind of glue, and is purchased by the cloth dressers for stiffening. 6. The bony substance which remains behind, is sent to the mill, and, being ground down, is sold to the farmers for manure. 7. The clippings and shavings, are...
Page 349 - July 14, 1890, are legal tender for all debts, public and private, except where otherwise expressly stipulated in the contract. United States notes are legal tender for all debts, public and private, except duties on imports and interest on the public debt.
Page 167 - The natural price of labour, therefore, depends on the price of the food, necessaries, and conveniences required for the support of the labourer and his family.
Page 47 - The trunk of an elephant that can pick up a pin or rend an oak, is as nothing to it. It can engrave a seal, and crush masses of obdurate metal...

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