Teddy Roosevelt: “Either by taxing them as realty we shall tax them at their full value, or we shall not; if, as we hold, the former is…”

“Either by taxing them as realty we shall tax them at their full value, or we shall not; if, as we hold, the former is the case, it would be unjust to tax them for more than their full value, and this would happen were not these existing taxes deducted.”