xing its members; apart from this rare exception, it is forced
to tax some in order to relieve others. In other words, the same as with
other enterprises, it manufactures and sells its product but, just the
reverse of other enterprises, it sells the product, an equal quantity
of the same product, that is to say, equal protection against the same
calamities, and the equal enjoyment of the same public highway, at
unequal prices, very dear to a few, moderately dear to many, at cost
price to a large number, and with a discount to the mass; to this last
class of consumers the discount goes on increasing like the emptiness
of their purse; to the last of all, extremely numerous, the goods are
delivered almost gratis, or even for nothing.

But to this inequality of prices may correspond the inequality of
rights, and compensation will come, the balance may be restored,
distributive justice may be applied, if, in the government of the
enterprise, the parts assigned are not equal, if each member sees his
portion of influence growing or diminishing along with the weight of his
charge, if the regulations, graduating authority according to the scale
of the levies, assigns few votes to those who pay the lowest quotas of
expense and receive alms, and many votes to those who give alms and pay
the largest quotas of the expenditure.

III. Equity in taxation.

Possible compensation in the other side of the scale.--What
the distribution of rights should be according to the
principle of distributive justice.--In every association of
stock-owners.--In local society confined to its natural
object.--In local society charged with supplementary
functions.--The local statue in England and Prussia.--The
exchange equitable when burdens are compensated by rights.

Such is the rule in every association of interests, even in stock
companies in which the distribution of charges allows of no favor or
disfavor to any associate. It must be noted that, in these companies,
co-operation is not compulsory, but voluntary; the associates are not,
as in the local society, conscripts enlisted under the constraint of
physical solidarity, but subscribers bound together under the impulsion
of a deliberate preference, each remaining in its of his own free will
just as he entered it; if he wishes to leave it he has only to sell his
stock; the fact of his keeping this confirms his subscription, and, thus
holding on to it, he