Natural Taxation An Inquiry Into the Practicability Justice And Effects of a S

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Natural Taxation An Inquiry Into the Practicability Justice And Effects of a S
Thomas Gaskell Shearman
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Nobody can eat coins, or wear coins, or build a house with coins, or even make a piece of plate with coins, or, in short, put them to any use of any kind whatever, so long as he keeps them in coin. The only pur- pose for which money is good at all is the purpose of getting rid of it, as quickly as possible, for something TAXATION OF PERSONAL PROPERTY. 59 more practically useful. Accordingly, no man, who is not partially insane, habitually carries any large amount of money with him, or keeps it ...in his house. The very richest men have the least amount of money. A well-known citizen of New York, who is reputed to be worth $50, 000, 000, never possesses so much as $5 in actual money, if he can help it. He is supposed to have a large amount of money in banks, but he does not have a dollar of his own in any bank. All which he has is the promise of banks to pay a large sum to him, whenever he wants it ; but, as a matter of fact, he never does want it, for his own personal use, and never takes possession of it.

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