THE WEALTH OE NATIONS.

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raised very much the value of all these, has rendered thoseinequalities of still less importance now. The rate too uponeach district continuing always the same, the uncertainty ofthis tax, so far as it might be assessed upon the stock of anyindividual, has been very much diminished, as well as ren-dered of much less consequence. If the greater part of thelands of England are not rated to the land-tax at half theiractual value, the greater part of the stock of England is, per-haps, scarce rated at the fiftieth part of its actual value. Insome towns the whole land-tax is assessed upon houses; asin Westminster, where stock and trade are free. It is other-wise in London .

In all countries a severe inquisition into the circumstancesof private persons has been carefully avoided.

At Hamburgh* every inhabitant is obliged to pay to thestate, one-fourth per cent, ofall that he possesses ; and as thewealth of the people of Hamburgh consists principally instock, this tax may be considered as a tax upon stock. Everyman assesses himself, and in the presence of the magistrateputs annually into the public coffer a certain sum of money,which he declares upon oath to be one-fourth per cent, ofallthat he possesses, but without declaring what it amounts to,or being liable to any examination upon that subject. Thistax is generally supposed to be paid with great fidelity. In asmall republic, where the people have entire confidence intheir magistrates, are convinced of the necessity of the tax forthe support of the state, and believe that it will be faithfullyapplied to that purpose, such conscientious and voluntarypayment may sometimes be expected. It is not peculiar tothe people of Hamburgh.

The canton of Underwald in Switzerland is frequently ra-vaged by storms and inundations, and it is thereby exposedto extraordinary expenses. Upon such occasions the peopleassemble, and every one is said to declare with the greatestfrankness what he is worth, in order to be taxed accordingly.At Zurich the law orders, that, in cases of necessity, everyone should be taxed in proportion to his revenue; the amountof which he is obliged to declare upon oath. They have no sus-picion, it is said, that any of their fellow-citizens will deceivethem. At llasil the principal revenue of the state arises froma small custom upon goods exported. All the citizens makeoath that they will pay every three months all the taxes iin-

* Mtmoh'e* ciHiceniant lej Droits, tomo i. p. T4.