In the present state of the greater part of the civilised monarchies of Europe, the rent of all the lands in the country, managed as they probably would be if they all belonged to one proprietor, would scarce perhaps amount to the ordinary revenue which they levy upon the people even in peaceable times.The ordinary revenue of Great Britain, for example, including not only what is necessary for defraying the current expense of the year, but for paying the interest of the public debts, and for sinking a part of the capital of those debts, amounts to upwards of ten millions a year.But the land-tax, at four shillings in the pound, falls short of two millions a year.This land-tax, as it is called, however, is supposed to be one-fifth, not only of the rent of all the land, but of that of all the houses, and of the interest of all the capital stock of Great Britain, that part of it only excepted which is either let to the public, or employed as farming stock in the cultivation of land.A very considerable part of the produce of this tax arises from the rent of houses, and the interest of capital stock.The land-tax of the city of London, for example, at four shillings in the pound, amounts to L123,399 6s.7d.That of the city of Westminster, to L63,092 1s.5d.That of the palaces of Whitehall and St.James's, to L30,754 6s.3d.A certain proportion of the land-tax is in the same manner assessed upon all the other cities and towns corporate in the kingdom, and arises almost altogether, either from the rent of houses, or from what is supposed to be the interest of trading and capital stock.According to the estimation, therefore, by which Great Britain is rated to the land-tax, the whole mass of revenue arising from the rent of all the lands, from that of all the houses, and from the interest of all the capital stock, that part of it only excepted which is either lent to the public, or employed in the cultivation of land, does not exceed ten millions sterling a year, the ordinary revenue which government levies upon the people even in peaceable times.The estimation by which Great Britain is rated to the land-tax is, no doubt, taking the whole kingdom at an average, very much below the real value; though in several particular counties and districts it is said to be nearly equal to that value.The rent of the lands alone, exclusively of that of houses, and of the interest of stock, has by many people been estimated at twenty millions, an estimation made in a great measure at random, and which, I apprehend, is as likely to be above as below the truth.But if the lands of Great Britain, in the present state of their cultivation, do not afford a rent of more than twenty millions a year, they could not well afford the half, most probably not the fourth part of that rent, if they all belonged to a single proprietor, and were put under the negligent, expensive, and oppressive management of his factors and agents.The crown lands of Great Britain do not at present afford the fourth part of the rent which could probably be drawn from them if they were the property of private persons.If the crown lands were more extensive, it is probable they would be still worse managed.
The revenue which the great body of the people derives from land is in proportion, not to the rent, but to the produce of the land.The whole annual produce of the land of every country, if we except what is reserved for seed, is either annually consumed by the great body of the people, or exchanged for something else that is consumed by them.Whatever keeps down the produce of the land below what it would otherwise rise to keeps down the revenue of the great body of the people still more than it does that of the proprietors of land.The rent of land, that portion of the produce which belongs to the proprietors, is scarce anywhere in Great Britain supposed to be more than a third part of the whole produce.If the land which in one state of cultivation affords a rent of ten millions sterling a year would in another afford a rent of twenty millions, the rent being, in both cases, supposed a third part of the produce, the revenue of the proprietors would be less than it otherwise might be by ten millions a year only;but the revenue of the great body of the people would be less than it otherwise might be by thirty millions a year, deducting only what would be necessary for seed.The population of the country would be less by the number of people which thirty millions a year, deducting always the seed, could maintain according to the particular mode of living and expense which might take place in the different ranks of men among whom the remainder was distributed.
Though there is not at present, in Europe, any civilised state of any kind which derives the greater part of its public revenue from the rent of lands which are the property of the state, yet in all the great monarchies of Europe there are still many large tracts of land which belong to the crown.They are generally forest; and sometimes forest where, after travelling several miles, you will scarce find a single tree; a mere waste and loss of country in respect both of produce and population.In every great monarchy of Europe the sale of the crown lands would produce a very large sum of money, which, if applied to the payment of the public debts, would deliver from mortgage a much greater revenue than any which those lands have ever afforded to the crown.In countries where lands, improved and cultivated very highly, and yielding at the time of sale as great a rent as can easily be got from them, commonly sell at thirty years' purchase, the unimproved, uncultivated, and low-rented crown lands might well be expected to sell at forty, fifty, or sixty years'
