Weekly North Carolina standard. [volume] (Raleigh, N.C.) 1850-1858, 1851-07-23

rs 1891.
From the Halifax Republican, /,
THE REVENUE ACT.
We take pleasure in laying before our readers the |
following correspondence in relation to the Revenue
Act, passed at the last Session Of our General As
sembly.
Although not written with view to publication,
the letter of the Atty. Genl. Wm Eaton, Jr. Esq,
contains able and lucid explanation of the points
to which his attention directed-and, we doubt
struction of the law.
HALIFAX, June 23rd, 1851.
Dear Sir Although have not the pleasure of a
personal acquaintance, trust that you will pardon
some difficulties arising out of the Revenue Law
passed by the last General Assembly.
By the first section of that Act person is requir
ed to pay three cents every dollar Of interest se-
debtors &c., upon all at interest &C., let his
own liabilities, BY way of interest, be what they may
But the second section of the Act contains the fol-
lowing Prouiso: That every person shall have hir
ty dollars OF interest," dividend or profit, and an a.
mount equal to the of interest which he, she or
they owe, or pay secure to be paid his, her or
their own debt or debts, which shall not be subject
to the tax imposed by this Act" Now desire to
know whether IN this Proviso applies to the first Sec
to me. For instance-suPpose has secured to him
interest to the amount Of $50 upon sums of Money
at interest, and that he owes, by way Of interest,
$lO0-has right to reserve from taxation, out of
the $3.50 Of interest secured him, only thirty
dollars specified in the Proviso, out also 500, being
an amount equal to the sum of interest which al
ready owes2 If has such right, then he is liza
BILE to a tax on $50 of interest only.
There is another point connected with the Act to
which beg leave to direct your attention. By the
tenth section every person is required to render an
nually, to the Justice appointed TO take the tax lis
Rs The amount of tax which he, either in his
right, in the right of any other person or persons
tee, in any other Ohatsoeoe-, is liable for
under the reuised laws Of this $tate.' desire to
know whether Clerks and Mastersi in Equity bound,
under the said 10th section, give the interest
collected by them secured to them, in behalf of
parties to suits in their Courts! The practice,
know is different, but have heard many doubts ex-
pressed the point and, therefore, your opinion is
requested.
: Permit also to inquire whether the words sun-
der the reuised laws of this State - error
of the printer, or of the Engrossing Clerk. Ii so
what effect has the in the construction of the
, 10th section
An early answer is solicited.
t Very. Respectfully
Your ob't. serv't.
: EDW'D. CONIGLAND.
- VIM. EATON, Jr. Esq.
? Warrenton, N. &.
;. WARaENroN, July end, 1851.
il Dear SIR Upon my return from Raleigh on yes
. terday, after absence from home of nearly fort
night, received your letter of the 23rd ult. 1t viii
afford pleasure to render you any aid in my pow
er, and regret that did not receive your letter
IS an earlier day.
am Of the opinion that the 2nd proviso of the 2nt
section of the Revenue Act of the last session is ap
pcable to the first section Of that Act, fully al
intents and purposes if it had been added as pro
~ viso to the first section.
:. am also of the opinion that every person is ex
empt from paying any tax upon thirty dollars of in
teres dividend profit, and is further exempt frou
J. paying any tax upon amount equal to the interes
Ia which he pays or owes upon his debt debts
II to take the example suggested by yourself
has interest secured to him to the amount of $50
and owes by WY of interest 500, the sum of 81 lO
is exempt from taxation. and in addition this, tn
u sum Of $3O is also exempt, that the individual
le only bound to list the sum of $40.
10 relation to the 10th section OF the Act which
quires of every person render The amount of ia
which he, either in his own right 10 the right
!" any other person or persons whomsoever. either
guardian, attorney, agent trustee, in any otht
manner whatsoever, IS liable fol" &c, am Of tn
opinion that is required to list funds held
No him in his official character.
- The Act of l848, for which the last Act is sui
stitute upon this point in substance and almo
e. in words. the same language the last Act. IT
usage under the Act Of lS4s appears to have bee
universal throughout the whole Stale, for officer
.r render list of fuads held by him in his official G
pacity, and the opinion seems to have prevailed wit
'o' scarcsy exception that he was not bound to
anything of the kind. Neither in conversation or
,st bate, during the late Session. did hear
from any quarter, that funds held by Clerk and Ma
ter any other public officer subjects of tax
eo tion either under the law of 184S, that
it, 1850. If the Legislature had intended introdu
principal so novel and important into the rev
a nue. system Of the State, that of taxing money
hv held by public officers, think that the purpose
- have been explicitly declared by the Statute. III
'a difficulties and embarrassments likely to arise fro
W. such Legislation such. that it ought be pr
ion sumed from the general words - many other
III. ner" (broad admit the language to beg that Il
" law makers had this purpose in view.
re- There is an evident mistake in the 10th section
cir the last Act and in the 7th line. Instead Of Rsuis
,b a,cs should be Reuenue laws AS the printer
have directed The attention of the reader the
re- by him, but by the Clerk in the engrossment or
ks roment of the bill. The 10Th section of the Act
a copy of the llth section of the bill reported by I
Committee Finance in the House of Common
f with the single exception that it the word
" instead of the word reuenue, and this a me
ma mistake in copying. You will find the bill report
for by the Committee Finance in the bound up DE-
md uments of the last session, End vo page 673.
,,l cry member Of the Assembly is provided with
'1 OF the Documents.
do not think that the above mistake will in pr;
tice do any harm, although it certainly wears
ms handsome appearance. 1t is very obvious from Of
son er words in the 10th section and from the provsio
of the Act generally, that the word REVISED is m
take, and think it almost impossible upon a care
ear reading of the avho Act misconceve the purpt
he of the Assembly. They certainly intended, as
of may well infer from the Act ITSELF that sho,