The Colfax chronicle., 1890-06-14
FARMERS AND THE SINGLE TAX.



BY THOMAS @. sHEARAGAN.
Paper read before the Joint Committee on
Taxation Of Ohio Legislature, Jan. .. 1sool
Continued from last scesk.]
Why, then, should not the whole at-
tempt to tax personal property, directly,
be abandoned, and the simple, prac-
ticable method Of concentrating all
taxes upon the value Of land, be adopted
in it's place? 1t has been shown that
such system would not work injustice
to farmers or the rural districts generally,
because it would not increase, but would
rather diminish, their present share OF
taxation. Nevertheless, each individual
farmer viii probably say that he does
not own as much personal property, in
proportion to the value Of his land, as Is
owned by capitalists in the large cities
It is certain, however, that vast
majority of the farmers are, at any rate,
assessed for more personal property in
proportion to their land than are city
residents; and, therefore, il is equally
certain that farmers, II they carefully
compare the assessments upon them
selves with the assessments ON wealthy
men in cities, would find that very few
of the latter are or ever could be as
sessed for as much personal property in
proportion to their land as farmers are.
Whatever is true of all farmers, taken
together as class, must be true of the
great majority of them, taken as in
dividuals.
TAX ON LAND MOST EQUAL METHOD OF
TAXING PERSONAL PROPERTY.
But would personal property really
escape from taxation If land values
alone were taxed? Would not the re-
suit be really to diffuse taxation more
equally and uniformly over all classes
Of personal property? It is quite clear
that this would be the result.
What is the value of land? Itconsists
solely in the annual rent which could
be obtained for the privilege of using 1t.
This rent is ordinarily capitalized; and,
in this form, it constitutes what IL
called the price of land. This is to say,
If piece of land could be let at .
ground rent Of 500 per annum, and the
ordinary rate of interest is i've per cent,
it IL worth 81 1000; because that sum at
i've per cent would produce the annual
rent Accordingly, in some countries,
the price of land is always referred to
rent, and it is quoted as being worth $50
many years purchases" that is, so many
years Of rent. Rent, or the possibility
of obtaining rent, is t.c only basis for
. price Of land. When land sells, as it
generally does, at some price, notwith-
standing 1t will not, at the time, rent
for anything, that is because the owner
speculates upon the arrival of time
when it will bring rent; and the land
then has speculative price, based upon
its expected rent. Rent, in one form or
another, is the only basis for any land
values whatever. This is just as true of
land which is occupied by its owner, as
of land which is actually rented, and
just as true of land which is occupied by
As of either.
RENT PAID IN PERSONAL PROPERTY.
The rent or price Of land must be paid
In personal property Of some form,
whether 1t IL the product Of that par
ticular piece Of land or not. Conse-
quently tax upon land is, in its turn,
paid out Of personal property, which is |
for rent. As rent will, by . |
natural law, absorb due proportion Of |
I'll personal property, resting upon land,
70 II taxation, II laid proporsionstely to |
rent, will take an equal and just pro-
portion Of all personal property. Thus |
} uniform tax upon land values amounts !
10 uniform tax upon personal property |
which can be collected with almost alb |
'olute accuracy without disturbing any |
iealings in that property or doing in
Justice to any Of its owners.
WHY COLLECT THE TAX Tw1cEf
Now II the State collects, as It can col
ect, all which it needs for public pur-
poses out OF rent, and the owner Of the
and collects, ~ he does collect, . sum
AL that IL thus paid to the
State, by tolls on personal PROPERTY
from the land, why should
he State trouble itself to collect the
Ak second time, from the identical
,ersonal property which has already
aid the taxes to the landlord, and
through the landlord to the State?
What advantage Is there in using two
Methods OF assessment and taxation,