FISCAL FUN AND FROLIC.

“Mr. Punch,

“Cheap wine is a very desirable thing; for my own part there is no commodity that I am more anxious to procure at a low price. I like wine; and the fact is, that I enjoy a very comfortable income, which consists partly of the interest of a large sum in the 3 per cent. Consols, partly of the rent of many acres of arable land and pasture. Therefore I shall not at all care how much the Income-Tax is raised in order that the duty on Claret may be lowered to a proportionate degree. I am only sorry that any duty on wine whatever is to be retained at all, for the purpose of revenue, because the direct taxation of income would answer that, at least as far as I am concerned, with my income alone taxed and my capital ecaping.

“Raising the Income-Tax in order to cheapen luxuries just suits my convenience, and I also look upon it as good practical joke at the expense of those who earn every farthing which they receive; for, in taxing their whole uncertain means at the same rate as that which is imposed upon only a part of my secure and handsome independence, the Legislature takes away money which they ought to lay by, whilst, on the other hand, by offering them wine and other good things at a reduced cost, it proposes, as compensation for its seizure of their savings, encouragement to spend the remainder of their income.

“I am, &c. &c.,

“Justita.”

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