SIR,---I have long been a constant and careful reader of
the articles in the Spectator, and although I cannot agree upon all subjects, I must say that I cordially and entirely agree with the very clear and able manner in which the editor in the issue of April 23rd expresses his ideas on the licensing system. Had the Chancellor of the Exchequer carefully weighed and considered the means of rectifying taxation, the licensing system afforded him, as you very justly say, the means of "squaring the Budget without adding to the Income-tax" or imposing what, in my opinion, is such an improper tax as that on tea, for it presses more hardly on the poor than any other tax that could be devised. As you state, the Government grant or sell a monopoly on the sale of certain articles. Query : Do the Government obtain a fair price for what they sell, and is this transaction, on the whole, for the benefit of the public ? To exemplify this, I give the following instance. For many years I have been selling land for building purposes. One person buys a small piece on which to build a house. Another does the same, but, fortunately for himself, ob- tains a license from the Government to convert it into a public-house. By the stroke of a pen the fortunate indi- vidual's property is increased in value 400 per cent., if not more. Was this a judicious bargain for the State to make P If the brewer can afford to pay such an enormous sum for the monopoly of selling beer, surely he can well afford to pay a handsome sum to the Government for the privilege. Could he not be taxed on the reasonable market value of his license, which value is caused by the monopoly granted by the Govern- ment ?--I am, Sir, &c.,
A. H. COCHRANE.
Brookfield, Weston, Bath.
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