The independent., 1903-05-21


that of satisfying tax leYlcB against
him. The taxable wealth OF the cltl'
zen will he sliced by The government
in payment Of the tax levy against
him, with certainty cOmphrADle
only to the certainty Of Death ono
Of these certificates or tax receipt
above described Is thus by law eu-
dowcd with power to perform for any
taxpayer who may come into posses
sion Of II the same beneficial service,
by bringing to him d"Itycnnrc from
the burden Of the tax levy against
him, as are taxable commodities en-
dOWed with equal power
The capacity to thus perform u s"r-
vice equally beneficial. when coupled
with their convenience and imporiBll-
ability. would cause all taxpayers to
seek to obtain them, They would
willingly exchange their Surpl II .
of porshabIe taxpaying commodities
for an equal quantity Of tuXpayihg
power, expressed upon the face Of
those certificates which are practical
ly imprrshablp, Thus 1t would hap.
pen naturally and necessarily that
they would be sought In exchange TO-"
pershable wealth ~ an Investment
and would become storage place for
porishabIe wealth Men would BtruR-
gle against each other for possession
Of them. and under the given COndi-
tiOns would produce the force Of de-
ma. |.
Suppose, now. for example that Il
tax levy against citizen may be can
Celled and satisfied either by the d.
livery of cow or the delivery Of on'
Of those certificates expressing \
quantity of taxable value equivalent
to hat Of a COW, the capacity for per
fOrmanCe of that most urgent ben
eHCial service in the certificate and In
the cow being identical. The resulting
quantity Of the force Of demand for
each must be equal Durability and
convenience rests on the side Of the
cert rttti"ate.
1t Is clear that under such circum
stances, that certificate would be
sought after by people subject to tax.
alton. with al eagcrneas at least
equal to that with which they would
seek the possession Of a COW. In
short they would sacrifice in OK
change for the possession Of the Ger.
tihcate at least the same quantity of
service or Of wealth, which they
would sacrifice for the possession OF
a cow
But such seeking for It's posses
sion would inevitably generate a
quantity Of the force Of demand for
the certificate equal to that generated
for the cow. But tho quantity Of th2
force of demand for the two articles
being equal, necessarily causes thetc
quantities Of value TO be equal. Equal.
lily Of power In any two things to
perform given beneficial service for
man, generating an equal quantity Or
the force Of demand for them, neccs-
sarjly makes their quantity Of value
equal
Several things must here hc CON
sidored The first in importance =.
the equality in quantity Of value If
cow and Of the certificate nyinc-
IDLY grows Ou, OF their endowment
with an equal qu nifty Of power -
perform a given service beneficial -
man, the performance Of which y
urgent and necessarily generating au
| equal quantity Of the force Of de
mand for each, from which an equal
quantity Of value Of each infalllbly re-
suits The fact that the cow has 9TH
or endOwments aside from taXpaS 70
ing power would be balanced by tn
convenience aud imprrishublity OF
the certificate
And Il ls to ha noted that Ii can be
OF no importance whatever what
words or emblemS may be- employed
IN making the certificate nor upon
what substance II may be- lnscrihed
II Is not the material employed tha,
IL endowed In such case with the
power to perform hencaclal scrl Ice for
man, but the tertltiuatr with
tn" legal uhIlEatiun tmpusrd upon the
government tn accept II no matter
upon what material lns, rlhed aud M
maJl'r what the formula ot words or
.m0toms used