increases  or  decreases  in  exact  proportion  the  annual
cost  to  the  user.
The  moral  of  this  illustration  is  that  a  tenant  gets
for  use  annually  $300  worth  of  land  for  I300,  and  a
house  costing  I300  for  $400.  In  other  words,  a  house
tax  of  $100  takes  in  taxation  $100  a  year  of  the
user’s  income.  A  land  tax  of  $100  takes  in  taxation
no  part  of  the  income  of  the  present  owner,  provided
that  he  purchased  the  land  after  the  tax  was
imposed.
The  beauty  of  this  illustration  is  that  while  land
stands  for  everything  except  the  products  of  labour,  a
house  is  here  made  to  stand  as  the  representative  of
any  and  all  products  of  individual  labour,  and  the
illustration  thus  becomes  all  inclusive.
The  practical  exemption  of  the  selling  value  of  land
is  vital  in  its  bearing  upon  any  proposition  for  obtaining ­
  an  increased  revenue  from  that  source,  accompanied ­
  by  a  corresponding  exemption  of  other
property.
In  the  light  of  the  foregoing  argument  it  is  interesting
to  consider
WHAT  ONE  CITY,  THE  CITY  OF  BOSTON,  MIGHT
HAVE  DONE  TO  PROMOTE  BUSINESS  AND  SECURE
EQUITY  THROUGH  A  SOUND  AND  JUST  SYSTEM
OF  TAXATION
The  following  estimate  indicates  the  gigantic  proportions ­
  of  the  factor  ground  rent,  and  its  sufficiency
to  meet  all  reasonable  costs  of  government  economically
administered,  not  only  without  impoverishing  the  landowner,
  but  without  subjecting  him  at  any  time  to  a