every　great　country；　I　have　already　had　occasion　to　observe　in
  the　third　book　of　this　Inquiry。
  What　are　called　poll…taxes　in　the　southern　provinces　of
  North　America；　and　in　the　West　Indian　Islands　annual　taxes　of　so
  much　a　head　upon　every　negro；　are　properly　taxes　upon　the　profits
  of　a　certain　species　of　stock　employed　in　agriculture。　As　the
  planters　are；　the　greater　part　of　them；　both　farmers　and
  landlords；　the　final　payment　of　the　tax　falls　upon　them　in　their
  quality　of　landlords　without　any　retribution。
  Taxes　of　so　much　a　head　upon　the　bondmen　employed　in
  cultivation　seem　anciently　to　have　been　common　all　over　Europe。
  There　subsists　at　present　a　tax　of　this　kind　in　the　empire　of
  Russia。　It　is　probably　upon　this　account　that　poll…taxes　of　all
  kinds　have　often　been　represented　as　badges　of　slavery。　Every
  tax；　however；　is　to　the　person　who　pays　it　a　badge；　not　of
  slavery；　but　of　liberty。　It　denotes　that　he　is　subject　to
  government；　indeed；　but　that；　as　he　has　some　property；　he　cannot
  himself　be　the　property　of　a　master。　A　poll…tax　upon　slaves　is
  altogether　different　from　a　poll…tax　upon　freemen。　The　latter　is
  paid　by　the　persons　upon　whom　it　is　imposed；　the　former　by　a
  different　set　of　persons。　The　latter　is　either　altogether
  arbitrary　or　altogether　unequal；　and　in　most　cases　is　both　the
  one　and　the　other；　the　former；　though　in　some　respects　unequal；
  different　slaves　being　of　different　values；　is　in　no　respect
  arbitrary。　Every　master　who　knows　the　number　of　his　own　slaves
  knows　exactly　what　he　has　to　pay。　Those　different　taxes；　however；
  being　called　by　the　same　name；　have　been　considered　as　of　the
  same　nature。
  The　taxes　which　in　Holland　are　imposed　upon　men…　and
  maid…servants　are　taxes；　not　upon　stock；　but　upon　expense；　and　so
  far　resemble　the　taxes　upon　consumable　commodities。　The　tax　of　a
  guinea　a　head　for　every　man…servant　which　has　lately　been　imposed
  in　Great　Britain　is　of　the　same　kind。　It　falls　heaviest　upon　the
  middling　rank。　A　man　of　two　hundred　a　year　may　keep　a　single
  manservant。　A　man　of　ten　thousand　a　year　will　not　keep　fifty。　It
  does　not　affect　the　poor。
  Taxes　upon　the　profits　of　stock　in　particular　employments
  can　never　affect　the　interest　of　money。　Nobody　will　lend　his
  money　for　less　interest　to　those　who　exercise　the　taxed　than　to
  those　who　exercise　the　untaxed　employments。　Taxes　upon　the
  revenue　arising　from　stock　in　all　employments　where　the
  government　attempts　to　levy　them　with　any　degree　of　exactness；
  will；　in　many　cases；　fall　upon　the　interest　of　money。　The
  Vingtieme；　or　twentieth　penny；　in　France　is　a　tax　of　the　same
  kind　with　what　is　called　the　land…tax　in　England；　and　is
  assessed；　in　the　same　manner；　upon　the　revenue　arising　from　land；
  houses；　and　stock。　So　far　as　it　affects　stock　it　is　assessed；
  though　not　with　great　rigour；　yet　with　much　more　exactness　than
  that　part　of　the　land…tax　of　England　which　is　imposed　upon　the
  same　fund。　It；　in　many　cases；　falls　altogether　upon　the　interest
  of　money。　Money　is　frequently　sunk　in　France　upon　what　are　called
  Contracts　for　the　constitution　of　a　rent；　that　is；　perpetual
  annuities　redeemable　at　any　time　by　the　debtor　upon　repayment　of
  the　sum　originally　advanced；　but　of　which　this　redemption　is　not
  exigible　by　the　creditor　except　in　particular　cases。　The
  Vingtieme；　seems　not　to　have　raised　the　rate　of　those　annuities；
  though　it　is　exactly　levied　upon　them　all。
  Appendix　to　ARTICLES　I　and　II。
  Taxes　upon　the　Capital　Value　of　Land；　Houses；　and　Stock
  While　property　remains　in　the　possession　of　the　same　person；
  whatever　permanent　taxes　may　have　been　imposed　upon　it；　they　have
  never　been　intended　to　diminish　or　take　away　any　part　of　its
  capital　value；　but　only　some　part　of　the　revenue　arising　from　it。
  But　when　property　changes　hands；　when　it　is　transmitted　either
  from　the　dead　to　the　living；　or　from　the　living　to　the　living；
  such　taxes　have　frequently　been　imposed　upon　it　as　necessarily
  take　away　some　part　of　its　capital　value。
  The　transference　of　all　sorts　of　property　from　the　dead　to
  the　living；　and　that　of　immovable　property；　of　lands　and　houses；
  from　the　living　to　the　living；　are　transactions　which　are　in
  their　nature　either　public　and　notorious；　or　such　as　cannot　be
  long　concealed。　Such　transactions；　therefore；　may　be　taxed
  directly。　The　transference　of　stock；　or　movable　property；　from
  the　living　to　the　living；　by　the　lending　of　money；　is　frequently
  a　secret　transaction；　and　may　always　be　made　so。　It　cannot
  easily；　therefore；　be　taxed　directly。　It　has　been　taxed
  indirectly　in　two　different　ways；　first；　by　requiring　that　the
  deed　containing　the　obligation　to　repay　should　be　written　upon
  paper　or　parchment　which　had　paid　a　certain　stamp…duty；　otherwise
  not　to　be　valid；　secondly；　by　requiring；　under　the　like　penalty
  of　invalidity；　that　it　should　be　recorded　either　in　a　public　or
  secret　register；　and　by　imposing　certain　duties　upon　such
  registration。　Stamp…duties　and　duties　of　registration　have
  frequently　been　imposed　likewise　upon　the　deeds　transferring
  property　of　all　kinds　from　the　dead　to　the　living；　and　upon　those
  transferring　immovable　property　from　the　living　to　the　living；
  transactions　which　might　easily　have　been　taxed　directly。
  The　Vicesima　Hereditatum；　the　twentieth　penny　of
  inheritances　imposed　by　Augustus　upon　the　ancient　Romans；　was　a
  tax　upon　the　transference　of　property　from　the　dead　to　the
  living。　Dion　Cassius；　the　author　who　writes　concerning　it　the
  least　indistinctly；　says　that　it　was　imposed　upon　all
  successions；　legacies；　and　donations　in　case　of　death；　except
  upon　those　to　the　nearest　relations　and　to　the　poor。
  Of　the　same　kind　is　the　Dutch　tax　upon　successions。
  Collateral　successions　are　taxed；　according　to　the　degree　of
  relation；　from　five　to　thirty　per　cent　upon　the　whole　value　of
  the　succession。　Testamentary　donations；　or　legacies　to
  collaterals；　are　subject　to　the　like　duties。　Those　from　husband
  to　wife；　or　from　wife　to　husband；　to　the　fiftieth　penny。　The
  Luctuosa　Hereditas；　the　mournful　succession　of　ascendants　to
  descendants；　to　the　twentieth　penny　only。　Direct　successions；　or
  those　of　descendants　to　ascendants；　pay　no　tax。　The　death　of　a
  father；　to　such　of　his　children　as　live　in　the　same　house　with
  him；　is　seldom　attended　with　any　increase；　and　frequently　with　a
  considerable　diminution　of　revenue；　by　the　loss　of　his　industry；
  of　his　office；　or　of　some　life…rent　estate　of　which　he　may　have
  been　in　possession。　That　tax　would　be　cruel　and　oppressive　which
  aggravated　their　loss　by　taking　from　them　any　part　of　his
  succession。　It　may；　however；　sometimes　be　otherwise　with　those
  children　who；　in　the　language　of　the　Roman　law；　are　said　to　be
  emancipated；　in　that　of　the　Scotch　law；　to　be　forisfamiliated；
  that　is；　who　have　received　their　portion；　have　got　families　of
  their　own；　and　are　supported　by　funds　separate　and　independent　of
  those　of　their　father。　Whatever　part　of　his　succession　might　come
  to　such　children　would　be　a　real　addition　to　their　fortune；　and
  might　therefore；　perhaps；　without　more　inconveniency　than　what
  attends　all　duties　of　this　kind；　be　liable　to　some　tax。
  The　casualties　of　the　feudal　law　were　taxes　upon　the
  transference　of　land；　both　from　the　dead　to　the　living；　and　from
  the　living　to　the　living。　In　ancient　times　they　constituted　in
  every　part　of　Europe　one　of　the　principal　branches　of　the　revenue
  of　the　crown。
  The　heir　of　every　immediate　vassal　of　the　crown　paid　a
  certain　duty；　generally　a　year's　rent；　upon　receiving　the
  investiture　of　the　estate。　If　the　heir　was　a　minor；　the　whole
  rents　of　the　estate　during　the　continuance　of　the　minority
  devolved　to　the　superior　without　any　other　charge　besides　the
  maintenance　of　the　minor；　and　the　payment　of　the　widow's　dower
  when　there　happened　to　be　a　dowager　upon　the　land。　When　the　minor
  came　to　be　of　age；　another　tax；　called　Relief；　was　still　due　to
  the　superior；　which　generally　amounted　likewise　to　a　year's　rent。
  A　long　minority；　which　in　the　present　times　so　frequently
  disburdens　a　great　estate　of　all　its　incumbrances　and　restores
  the　family　to　their　ancient　splendour；　could　in　those　times　have
  no　such　effect。　The　waste；　and　not　the　disincumbrance　of　the
  estate；　was　the　common　effect　of　a　long　minority。
  By　the　feudal　law　the　vassal　could　not　alienate　without　the
  consent　of　his　superior；　who　generally　extorted　a　fine　or
  composition　for　granting　it。　This　fine；　which　was　at　first
  arbitrary；　came　in　many　countries　to　be　regulated　at　a　certain
  portion　of　the　price　of　the　land。　In　some　countries　where　the
  greater　part　of　the　other　feudal　customs　have　gone　into　disuse；
  this　tax　upon　the　alienation　of　land　still　continues　to　make　a
  very　considerable　branch　of　the　revenue　of　the　sovereign。　In　the
  canton　of　Berne　it　is　so　high　as　a　sixth　part　of　the　price　of　all
  noble　fiefs；　and　a　tenth　part　of　that