io POPULAR SCIENCE MONTHLY. 



was at the same time regularly taxed by the New York authorities; 

 and, furthermore, when a protest was made to the Massachusetts 

 authorities against the continuance of this injustice, the decision 

 was rendered, that under existing Massachusetts statutes the plun- 

 dered taxpayer could have no remedy except by change of business 

 or change of (State) residence. 



Again, if a foreign banker subscribes to any of the State or 

 municipal loans of the United States, the bonds or other evidences 

 of indebtedness which he receives in exchange for his money are 

 exempt from taxation by reason of his nonresidence; but if a 

 resident widow or maimed soldier be moved by the desire for 

 security to purchase a little of the same loan, the small rate of 

 interest which such investments generally carry will be made still 

 smaller to all such persons, by reason of an annual tax of from one 

 to two or a greater percentage imposed on the holders, for the 

 simple reason that they are residents; although the protection af- 

 forded to the latter is in no degree different from or greater than 

 that afforded to their more fortunate and rival foreign competitors, 

 who reside where such taxes are not imposed; all of which is equiv- 

 alent to saying officially that whenever an American loan, particu- 

 larly desirable for trust investments, is created, it shall be sacredly 

 reserved for foreigners, or that bad portion of citizens of the United 

 States who have no scruples about cheating the assessors. Local 

 subscriptions to local indebtedness, with the augmentation of inter- 

 est in the locality which would necessarily follow, are therefore 

 discouraged; while to the American citizen who ventures to sub- 

 scribe, residence is made an offense and coupled with a penalty. 



In the case of agriculturists, who constitute more than half 

 the population of the country who follow gainful occupations, their 

 personal property, consisting mainly of farm animals, implements, 

 and farm products, is always readily open for inspection, and has a 

 nearly uniform value throughout the country. The personal prop- 

 erty of farmers is accordingly more completely reached and more 

 accurately valued by honest assessors, than the property of any other 

 class of the population. 



Consider next the case of merchants. " What assessor, however 

 honest and competent, can personally value all the stock of even one 

 store, not to say the stock of all the stores in his district? Fancy an 

 assessor making a personal appraisal of the stock of fifty drug stores, 

 a hundred dry-goods stores, and as many groceries! In one store 

 there are hundreds of different articles at different prices, by the 

 yard, or the pound, or the gallon. Bales of goods lie side by side; 

 some worth four cents a yard, some ten cents, some two dollars. The 

 difference between goods worth one dollar a yard and those worth 



