Page:Indian Journal of Economics Volume 2.djvu/252

 240 H. $TAiVLEY every few years, and he rae is levied each on all properties a a certain expressed as so This corresponds many shillings wih levying pies in the rupee. half-year percentage, usually and pence in he -1. so many annas and The English municipalities, like he central Govern- men, prepare a bndge of expenditure according o wha hey consider o be he public needs in he way of new schools, consrncion of roads, own halls and public niliies of every description; and haxdng decided on the necessary expenditure hey proceed to make a ra[e which will yield the revenue required. This done every half-year, when [he ra[e may be phi np down 2d or 4d in .1 as [he ' ' expendtme may need. Ye[ ano[her example may be given--of a big land- large agricnl[ural es[ales who has no[ rack- his [enan[s, bn[ normally charges [hem consi- less [han [he full economic ren[, is eqnivalen o he balance of after deducting axes actually paid. has a margin to increase his income be in need of money for any lord of rened derably his case capacity landlord ever he may is or subsistence and from enans. In the enant. s to will. The system would be. classified here. The are mainly due o he smallness he Commercial system expenditure is predetermined, from time o ime, and in fac sbo.ld be the course of the business transactions. essence of business, whether ha of a uerchant or of a manufacturer, ha additional expenditure, wisely made, yields additional income great, er than the mos[ly of abwabs in Bihar evils he arbirariness of system of the margin above of such exactions neither ineone nor boh may be waried varied in I is he necessity by raising he rens of his enans, if, as in he English system, hey are wholly or setions which in taxable This when-