124 
THE A B C OF TAXATION 
are seen and known of all men, he it is who is bearing 
in great degree the evaded burden of the owner of 
stocks and bonds. Such discrimination finds illustra 
tion on every hand. For instance, with the value of 
the buildings and improvements of the Berkshire, 
Mass., farmer far in excess of the site value of 
his land, while in Boston, Winter Street buildings have 
only one-thirteenth the value of Winter Street land, it 
is easily seen, as a matter of simple proportion, how the 
taxation of buildings bears more than thirteen times as 
heavily on the Berkshire landholder as it does on the 
Winter Street landholder. 
In calculating the relief to the farmer through the 
exemption of improvements, three classes of farmers 
are to be considered: (i) The small farmers; (2) the 
large farmers; (3) the bonanza farmers. The buildings 
and improvements of the small farmer will invariably 
have a much greater value in proportion to his land 
than those of the large farmer, and greater still when 
compared with the bonanza farmer, so that the same 
amount of tax distributed in proportion to land alone, 
as compared with a tax laid upon land and improve 
ments, would relieve the small farmer just in proportion 
as his improvements were a larger fractional part of 
his total holding. Herein surely lies the only cure 
for “speculative” farming — i. e., farming more land 
than can be tilled—and for tenant farming — i e., 
farming the farmer. 
The farmer to-day is doubly discriminated against, 
first in the over-valuation of agricultural land, and 
secondly, in the under - valuation of urban or 
village land. Between these upper and nether 
millstones he is being ignorantly ground. These