Tax The Net Value

The whole trend of public opinión is in the direction of levying tases only on what a man is really worth, and not what he seems to be. There is no question whatever that this is the just and equitable method, and if sorae plan that is certainly feasiblo shall be evolved we do not doubt that legislation will soon be enacted to put the theory into practice. "Many of_our farms are heavily mortgaged, and it is gross injustice to collect a tax on the full valuation of property when some rapacious money lender holds a claim against it f or half or two-third3 of its worth. Clearly such claim onght to be deducted f rom the valuation of the realty, and the mortgage itself be made to bear its share of the burden of tasation. And, f urther, there is great injustice in the fact that bidden property may escape all assessment. Our tas laws discrimínate against the farmer, bringing him to account for possessing property which he cannot put into bank vaults, and allowing the bondholder, the speculator and stock gambler to secrete their wealth beyond the reach of the tax collector. Will either of the chief political parties of this nation, having as they do heavy capitalists for their leaders, ever lift these burdens? To look for such a thing would be to expect the impossible." Thus speaks The Rural New Yorker on this subject, and it bnt echoes the universal sentiment of the agricultural press of the country. But we may saf el y look for such a thing if farmera continue to acquire and wield political influence. It will take long and diligent study to formúlate and put into effect tai laws which will relieve the farmer of the disadvantages under which he now suffers by shifting froin his shoulders a portion of the burden that belongs to others. But when once all are aroused to the