was at the same time regularly taxed by the New York authorities; and, furthermore, when a protest was made to the Massachusetts authorities against the continuance of this injustice, the decision was rendered, that under existing Massachusetts statutes the plundered taxpayer could have no remedy except by change of business or change of (State) residence.
Again, if a foreign banker subscribes to any of the State or municipal loans of the United States, the bonds or other evidences of indebtedness which he receives in exchange for his money are exempt from taxation by reason of his nonresidence; but if a resident widow or maimed soldier be moved by the desire for security to purchase a little of the same loan, the small rate of interest which such investments generally carry will be made still smaller to all such persons, by reason of an annual tax of from one to two or a greater percentage imposed on the holders, for the simple reason that they are residents; although the protection afforded to the latter is in no degree different from or greater than that afforded to their more fortunate and rival foreign competitors, who reside where such taxes are not imposed; all of which is equivalent to saying officially that whenever an American loan, particularly desirable for trust investments, is created, it shall be sacredly reserved for foreigners, or that bad portion of citizens of the United States who have no scruples about cheating the assessors. Local subscriptions to local indebtedness, with the augmentation of interest in the locality which would necessarily follow, are therefore discouraged; while to the American citizen who ventures to subscribe, residence is made an offense and coupled with a penalty.
In the case of agriculturists, who constitute more than half the population of the country who follow gainful occupations, their personal property, consisting mainly of farm animals, implements, and farm products, is always readily open for inspection, and has a nearly uniform value throughout the country. The personal property of farmers is accordingly more completely reached and more accurately valued by honest assessors, than the property of any other class of the population.
Consider next the case of merchants. "What assessor, however honest and competent, can personally value all the stock of even one store, not to say the stock of all the stores in his district? Fancy an assessor making a personal appraisal of the stock of fifty drug stores, a hundred dry-goods stores, and as many groceries! In one store there are hundreds of different articles at different prices, by the yard, or the pound, or the gallon. Bales of goods lie side by side; some worth four cents a yard, some ten cents, some two dollars. The difference between goods worth one dollar a yard and those worth
