n6 RATES AND TAXES 



estimate the incidence of old taxes in 

 which, at any rate, there is some reference 

 possible to the result of experience, it is 

 still more difficult to estimate the effects 

 of a new system. Even as regards the 

 old taxes, however, it must not be sup- 

 posed that we can find a ready answer 

 by consulting the results of the past. The 

 effects of taxes are inextricably blended 

 with other things. 



If we take the reports of the last two 

 commissions on agricultural depression, we 

 find that the main causes are, in the first 

 period under review, bad seasons, and in 

 the second, low prices. The precise influ- 

 ence of rates and taxes, even if considerable, 

 would be. overshadowed by these greater 

 causes. Even if we were to compare 

 districts in which rates are relatively high 

 and low, it is unlikely that we could assign 

 any precise influence to the difference, unless 



