450 FARM FINANCE 



trunk lines and the growth of industrial centers with 

 satisfaction. Nor was it regarded of vital importance, 

 to equalize the burdens of taxation on the property of 

 the manufacturers and that of the farmers. The report 

 of the commission which recently investigated the tax ques- 

 tion in California, a typical state, reports that: "Manu- 

 facturers pay of one per cent on their capital in taxes; 



TRANSPORTATION. 



Here may be seen a railroad and a canal side by side, two common 

 types of transportation. 



farmers pay 1.14 per cent, or two and one third times as 

 much. Manufacturers pay of one per cent of their gross 

 income in taxes; farmers pay nearly 7 per cent, or twenty 

 times as much. Manufacturers pay 2 per cent of their 

 net income, while farmers pay 10 per cent, or five times 

 as much." 



It would doubtless be an error to consider the lack 

 of capital in farming as the only cause of the alarming 



