These conclusions respecting the diffusion of taxes may be said to be universally accepted by economists so far as they relate to the results of production before they reach the hands of the final consumers; but they are not accepted by many, as Mr. Henry George has recently expressed it, in respect to taxes on special profits or advantages on things of which the supply is strictly limited, or of wealth in the hands of final consumers, or in the course of distribution by gift, and finally in respect to taxes on land. But a little examination would seem to show that all of these exceptions are of the kind that are said to prove the rule. _Special profits_ and advantages in this age of quick diffusion of knowledge and intense competition are exceedingly ephemeral, and are mainly confined to results which the State with a view of encouraging removes for a limited time from the natural laws of competition by granting patents, copyrights, and franchises. Of things which are strictly limited in respect to supply, what and where are they? Only a very few can be specified: ivory, Peruvian guano, whalebone, ambergris, and the pelts of the fur seal. Of wealth in the process of transmission, or in the hands of final consumers, it is not _tangible_ wealth unless it is _tangible_ property, which conforms under any correct system of taxation to the principles of taxation; and if any one advocates the taxation of the right to receive property which has already been taxed, he in effect advocates a double exaction of one and the same thing. If it be asked, Will an income tax on a person retired from business be diffused? the answer, beyond question, must be in the affirmative, if the tax is uniform on all persons and on all amounts, and is absolutely collected in minute sums. Would any one pay the same price for a railroad bond which is subject to an income tax as he would for it if it was free from tax? If one's land is taxed, either in the form of rent or income, will not the tenant have the burden primarily thrown upon him? And, finally, will not the consumer of the tenant's goods pay through or by reason of such consumption? Respecting the incidence of the tax on mortgages, it does not make any difference how mortgages are taxed--no earthly power can make the lender pay it. If the borrower would not agree to pay the tax, the lender would not loan him money, and whenever possible loans would be foreclosed and payment insisted upon if the borrower should refuse to pay the tax.