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Page:Economic Development in Denmark Before and During the World War.djvu/113

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That the municipalities also devised new plans for taxation can occasion no surprise. Finally, the autumn of 1918 brought a long list of proposals for the establishment of new taxes and the increase of the old taxes, in order to enable the government to make both ends meet. Outside of all this we have further the measures mentioned above, as the duty on the export of cattle, a duty which had its special purpose.

On the whole the outstanding feature of the modern system of taxation in Denmark lies in a certain principle of equivalence; as in the age of mercantilism, several duties were used to cover special expenses. A duty was imposed upon the Life Insurance Companies for their control, another upon the Savings Banks to cover their control, another for censorship of theatres determined in the licences, and still another for inspection of boilers, etc. An act of 1916 provided that the shipping trade should contribute toward the supplies of the country, partly in tonnage, which through the Council of Freight should be procured as cheaply as possible, and partly in money, a sum of 11,000,000 kroner being imposed in proportion to the taxable incomes of the companies.

Effect of Recent Fiscal Measures

The effect of these measures on the finances of the state will appear from some figures. In the fiscal year 1910-1911 the current revenues of the state totalled 91,000,000 kroner. In 1913-1914, or immediately before the World War, they totalled 124,000,000 kroner. During the war they swelled to such a degree that in 1917-1918 they had reached 375,000,000 kroner. The income and property taxes, which seven years before had yielded 12,000,000 kroner, now yielded 239,000,000 kroner, or nearly two-thirds of the total revenues. In 1910-1911 the taxes on commercial transactions and the inheritance tax brought in 9,000,000 kroner, and in 1917-1918 they brought in 40,000,000 kroner, of which 19,500,000 accrued from the stamp-tax and 13,000,000 from exchange duties. During