A Tract On Taxation

Cover A Tract On Taxation
A Tract On Taxation
E a Theller
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Hence, B. Must pay tax upon three thousand dollars, less his debt, say of five hun- dred dollars, to C.
In California, we have, by a skill that might seem almost miraculous, managed to combine the errors of both courses into one harmonious system of financial empiricism.
By some specious coloring, the solvent debt has come, by preference, to mean a claim against land, payable only by sale of the land, and dependent even for its quasi solvency upon the ability to realize out of the land, and not
...hing else, ignoring the prominent fact that evidences of debt are not property in the hands of the holder of such evidences, but are the evidence in fact that such holder has parted with the jus ad rem the right to the thing subject to taxation. Hence it follows, as a logical sequence, if we would tax the property represented by a solvent debt, we must go back to the maker of such evidence, because to him alone pertains the jus ad rein.
The State of California is rising into something like no- toriety, if not fame, among the powers of America.


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