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-
