produce  equally  in  both  cases,  as  well  when  such  a  tax
is  levied,  as  when  it  is  not  levied.  But  in  the  case
of  the  tax,  the  price  is  raised,  and  each  of  his  quarters
of  corn  is  of  greater  value.  Such  a  tax  would,  there-
fore, raise  upon  the  consumers,  not  only  so  much  per
acre  to  the  government,  but  a  great  deal  more  for
the  benefit  of  the  landlords.
SECT.   XII — TAXES   UPON   TRAKSFEK.  223


SECTION  XIL

TAXES   UPON   THE   TRANSFER   OF    PROPERTY.
Taxes  upon  the  transfer  of  property  are  of  several
kinds;  as  stamp  duties  upon  purchase  and  sale,
legacy  duties,  duties  upon  the  writings  required  in
the  conveying  of  property,  and  others  of  the  same
nature.
In  the  case  of  all  property  which  is  the  pro-
duce of  labour  and  capital,  the  tax  upon  purchase
and  sale  falls  upon  the  purchaser,  because  the  cost  of
production,  including  the  profits  of  stock,  must  be
afforded  along  with  the  tax.
Taxes  upon  the  transfer  of  land,  which  is  a  source
of  production,  and  not  the  effect  of  labour  and  capital,
fall  upon  the  seller ;  because  the  purchaser  considers
what  benefit  he  could  derive  from  his  capital  employed
in  another  way ;  and  if  the  land  will  not  afford  him
an  equivalent,  he  will  refuse  to  exchange  it  for  the
land.
Legacy  duties,  and  duties  upon  free  gifts,  fall,  it
is  evident,  upon  the  receivers.
224}  CHAP.  IV — CONSUMPTION.
SECTION  XIIL


LAW   TAXES.
Taxes  upon  proceedings  at  law  are  levied  chiefly
in  the  form  of  stamps  on  the  different  writings
employed  in  the  business  of  judicatm-e  ;  and  in  that
of  fees,  on  the  several  steps  and  incidents  of  the
judicial  procedure.
