He has the privilege, however, of renouncing the estate if he does not choose to accept it along with its indebtedness.)--The taxpayer's resignation to this tax is explained by the exchequer collecting it at a unique moment, when proprietorship just comes into being or is just at the point of birth.

In effect, if property changes hands under inheritance or through free donation it is probable that the new owner, suddenly enriched, will be only too glad to enter into possession of it, and not object to an impost which, although taking about a tenth, still leaves him only a little less wealthy.

When property is transferred by contract or sale, neither of the contracting parties, probably, sees clearly which pays the fiscal tax; the seller may think that it is the buyer, and the buyer that it is the seller.

Owing to this illusion both are less sensible of the shearing, each offering his own back in the belief that it is the back of the other.] [Footnote 3237: See "The Ancient Regime," pp.358-362.

(Ed.Laff.