Some years ago when President of the Massachusetts
Single Tax League I started a correspondence and series
of conferences with a large number of students of
political economy including more than 100 professors in
the leading colleges and universities of the country. The
purpose was to ascertain whether it might be possible to
secure agreement of recognized authorities concerning the
fundamental economic principles on which the science of
taxation must rest. The project met with such cordial
approval at the hands of the economists, and proved so
interesting and profitable that it finally resulted in a
round-table conference at the Annual Meeting of the
American Economic Association held at Madison, Wisconsin,
in December 1907.1 The final canvass of opinions showed
an overwhelmingly majority agreed upon three propositions
stated in the following Catechism, No. 39.2
1. See Proceedings of the Twentieth
Annual Meeting of the American Economic
Association, 1907, pp. 117-29; also The A B C
of Taxation, pp.187-90.
2. Quoted from an introduction to the edition of the
Catechism which was published in the National Magazine
for November, 1912.
Q60. Do you believe that economic rent ought to
furnish a larger proportion of public revenue than it
does now?
A. One hundred nineteen professors of political economy
have answered "Yes." Eight have answered "No."
Q61. Do you think there would be any injustice in
taking by taxation the future increment in the value of
land?
A. Fifteen professors of political economy have answered
"Yes." Ninety-four have answered "No."
Q62. Would it be wise to take gradually in
taxation, say, 1/4, one half, or 3/4 of the future
increase in economic rent?
A. One hundred and one professors of political economy
have answered "Yes." Twenty-nine have answered "No." ...
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