The Taxation of Capital

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Intended taxa- tion buildings belonging to hospitals, colleges and charities, funds destined to keeping churches and chapels in repair, and the property of institutions supported by voluntary subscriptions, the whole idea was, from the very outset, met with such a strong and organised opposition that the Chancellor of the Exchequer soon realised the impossibility of carry- ing his proposals, and was reluctantly compelled to withdraw them. In taking this course, however, Mr. Gladstone did not fa...il to> protest against what he viewed as the taxation of the whole country at an augmented rate in order, as has been said, to enable 1 H. C. Bill No. 9. 1 of 1863, which, shorn of the proposal in ques- tion, became the statute 26 & 27 Viet. C. 22.
100 TAXATION OF CAPITAL. [On, governors of charities to feast and founders of charities to gratify their vicarious vanity at a lesser cost ( l ).
The subject, which now looked like being' indefinitely shelved, in fact disappeared from serious discussion for a considerable period of time.


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