TAXING BUILDERS' PROFITS.
[To TEE EDITOR. OF THE "SPECTATOR.") SIR,—Your excellent article on "Taxing Builders' Profits " does not mention that builders are not allowed a farthing for deferred interest on capital where they are unable to sell for say, two or three years. This is one of the many allowances permitted by the Frankfurt land taxes, of which we beard so much when the People's Budget was introduced. The Frankfurt land taxes are, on the whole, fair and equitable. The iniquitous measure introduced with many fraudulent
pretences by Mr. George is merely a swindle. As a mortgagee of building land I have received not a farthing of interest on sums amounting to £6,000 in all since the People's Budget was passed, and if anyone offered me £3,000 cash to-day I should be strongly inclined to take it.—I am, Sir, &c.,
A LIBERAL VOTER IN 1906.
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