SOME BOOKS OF THE WEEK.
[Notice in Mit column doer not necessarily pre•lale suldrytent review.]
The Taxation of Capital. By Sir A. W. Seward and W. E. Willan. (Waterlow. 18s. 6d. net.)—The authors of this in- structive book say that it is the first English treatise on Death Duties and Capital Levies from the historical and economic • Chriplopher and Columbus. By the Author- of Ell•alm•h and See German' Carden. Leaden: IIarnuiltan, Lis. Oil, acid standpoints. They have qualified themselves for the teak by long experience in the Estate Duty Office, and with true official caution they prefer to state facts and rival theories ratherlhan to advocate any particular policy. They-cite, for example, a Socialist estimate of tho national wealth without pointing out that it is at best a doubtful and imperfect estimate framed to support a political argument. They mention, but do not describe fully, the German capital levy, made just before the war, which produced only about half as much as it was expected to yield. They quote Professor Seligman's well-known denunciation. of the American Property Tax as " one of the worst taxes known in the civilized world." The book is a valuable compendium of facts. The chapter on "The Death Duties and Dual Taxation" throws some light on the very complex and difficult problem which arises when a man owns property in more than one country.
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