be taxed. The property to be assessed must be local, visible, and productive; it must consist only of the surplus left after deducting debts; it must be rated according to the profit produced; and its nature must be distinctly specified. "Consequently, such subjects as wages, pensions, easements, profits derived from labor and talent, profits from money invested or lent elsewhere, and furniture, were exempt."
The absence of all attempts to tax or value property other than what was visible and tangible continued to the reign of Queen Anne, when a single decision of the court pointed to the taxation of the stock in trade of a tradesman, a decision that does not appear to have been acted upon. As late as 1775 Lord Mansfield said, "In general, I believe neither here nor in any other part of the kingdom is personal property taxed to the poor." At all events, it could not be taxed unless usage could support it. Toward the end of the century, when taxation for the Napoleonic wars was touching more intimately the concerns of the people, the idea of subjecting personal property to the poor rate was favored, but nearly half a century passed before it attracted attention. In their report for 1843 on local taxation the poor-law commissioners gave the following summary of the status of this question:
"The practice of rating stock in trade never prevailed in the greater part of England and Wales. It was, with comparatively few exceptions, confined to the old clothing districts of the south and west of England. It gained ground just as the stock of the wool staplers and clothiers increased, so as to make it an object with the farmers and other rate payers, who still constituted a majority in their parishes, to bring so considerable a property within the rate. They succeeded by degrees, and there followed upon their success a more improvident practice in giving relief than had ever prevailed before in England.… When the practice of rating stock in trade was fully established in this district, the ancient staple trade rapidly declined there and withdrew itseK still more rapidly into the northern clothing districts, where no such burden was ever cast upon the trade."
A final determination of the question was imposed upon Parliament by the pressure of the manufacturing and commercial classes arising from a decision in the case of R. vs. Lumsdaine, in 1839, looking to the taxation of personal property. In consequence, an act was passed (3 and 4 Vict., c. 89), and has remained in force until the present time, exempting an inhabitant from any tax "in respect of his ability derived from the profits of stock in trade or any other property, for or toward the relief of the poor." Thus it is that the English local taxation has managed to keep clear from the bog of
