Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1815-12-14
stag a repetition Of the appeal to public

stag Il repetition Of the appeal to public
credit.
/. An authority was given TO raise by
Loan sum not exceeding 5000 600 of dol
lars, and to create stock for the amount,
bearing interest not exceeding the rate of
6 per cent per annum, and reimbursaole
at any time after the expiration of 9 we ars
from the 1sr of January 1914 The pay
nent CT the interest, and the redemption
or purchase Of this stock, are charged up
on the Sinking Funds
:. Snd en- authority was given TO issue
Treasury Notes fer sum net exceeding
100000 o. dollars absolittsly with pro-
visional authority to issue an additional sum
OF 5,0oC,o 600 Of dollars, to be deemed and
held 20 be part of the loan OF l6.OGO. 600
or dollars, authorised rs above stated to
be raised. The notes were to bear interest
at the rate OF 5 2-5 dollars per cent. per
annum, u be reinl5ursable at such places,
respectively. as should be expressed on the
lace OF them, one year after the deg on
which they should be issued; to be receiv-
able in payment of all duties and taxes
laid by the United States, and ali the pub
lie lands sold by their authority and the
payment OF the interest, and the redemn-
tioa CT purchase of these notes, were
charged. like the funded deot, upon the
Sinking Fund.k
The necessities of the Treasury becom-
ing, however, mere urgent, and the reii-
ancc or the public credit becoming more
hazardous, Congress determined, at spc-
ciai session, which commenced in Nav
1913, to lay the foundation CT a system
OF internal revenue; selecting, in particu-
lar, those subj ects OF taxation, which were
recommended by the experience of a for
fN1 o.,I
product at the sum of 5 100000 of dol
Iars.L The continuance ofthese taxes be-
ing limited, at first, to one year after the
termination of the war, they acquired the
denomination of the war taxes ~ but. by
subsequent laws. almost all the existing
revenues are pledged, with the faith of the
United States, to provide for the payment
OF the eXpences OF government, for the
punctual payment Of the public debt, prn-
opal and interest. according to the con-
tracts; and for creating an adequate Sink
ing Fund, gradually TO relu e, and even
tuaiy to extinguish the public debt; until
those purposes shall be accomplished, or
until congress shall provide and substitute
by law, for the same purposes, other du-
ties, which shalib be equally productive
In the session OF May 1875
j. A direct tax of 5000 600 of Io'iars,
was laid upon the United States, and aD-
portoned to the states respectively for the
year 1919; and 1t was afterw rds subject
ed tothc general pledge above stated.rz
2 a duty Of cents per pound. was lait.
upon all sugar refined within the United
States. The continuance of tie duty, was
limited TO one year after the war; aud as
the general pledge has not been applied to
It. the duty VIII cease On the 18th of Fee
bruary, 1851
3. A duty was laid on all carriages, for
the conveyance OF persons, kept by any
person for his own use, or to be let out Tor
hlre, or tor the conveyance of passengers
which was graduated according to the
denomination of the carriage, from the
yearly sum of 20 dollars, to the yearly sum
OF dollars. The Continuance of this duty
was originally limited to the war but the
general pledge has been applied to it, with
some modification in the mode of LAYING
and collecting the duty.o
a. A duty was imposed on Licenses to
Distiilers of Spirtusus Liquors, which was
graduated according to the capacity of
the still, the time of employing it, and the
materials consumed. The Continuance of
TINS duty was originally limited to the war
put the general pledge has been applied to
II, with considerable notifications in the
VIII
.. a duty was laid on sales at auction Of
merchandise, and Of ships and vessels, at
the rate of per cent. of the purchase nao-
ney OF goods, and of 25 cents for every
hundred dollars Of the purchase money of
ships and vessels. The continuance of this
duty was originally limited to the war but
the general pledge has been applied to it,
with considerable addition to the amount
aud modification of the provisions of the
law.q
6. A duty was laid on licenses to retail.
ers OF wines, spirituous liquors, and foreign
merchandise, graduated according to the
place OF retailing, and the nature of The
article retailed. The continuance of this
duty was originally limited to the war
but the general pledge has been applied
to it.r
Z. a duty was laid on notes of banks and
bankers; on bonds, obligations, or promis-
sorry notes, discounted by banks or bank
ers aud on foreign or inland bills of ex-
change above so dollars, and having one
or more endorsers graduated according to
the nominal amount of the instrument
The continuance of this duty was limited
to one year after the war and as the ge-
neral pledge has not been applied to il,
the duty will cease on the 18th February,
1868
h Sc, The Act qf@e o5M February, 1913, III
U0k SS5
Sc he net eraie 8M efFs5ruqry, 1918, III
e.. a. r., -, r~