Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1855-01-17

tenn has been adopted, and provision IS made that
oneeghth of per cent upon the capital invested
shall be the tax If the mercantile interest of the
State is assumed for the sake of argument to be
TWENTY-FIVE millions of dollars then the tax pro-
posed will be $31 $50.
This system is preferred because operates equal
ly upon every trader, whether his capital be large
or small. Under the present law, the highest tax
u d By retail merchant is twenty dollars. Under
the alteration proposed, capital of one hundred
Thousand will pay $l25, 90 4
Tl.c Committee recommend tax of five per cent.
upon all sprituous liquors and wines not OF the man
ufacture Of this State From this source an income
is looked for not less than sixty thousand dollars per
annum. Other articles not of orr own growth and
manufacture, pay large sum into Treasury, and
the Committee selecting this fit subject of taxa;
ton, have reporteda bill to that effect.
A change is made in the tax commission mer-
chants. tax is laid OF i've per cent. on all foreign
drugs medicines and nostrums, sent to this State TO
be sold and fifty dollars all residents their
agents. selling offering to sell goods by sample !;
and one hundred dollars on all forwarding express
companies.
A tax of twenty dollars on all persons retailing
spirituous liquors, Wines cordials, by measure
less than gallon, IS recommended.
Of the tax on land and polls, it is proposed that
five cents the poll and two on land be set apart
for the Lunatic Asylum, the sum paid, viz: Ii
OIL land, and ST the poll
The committee recommend an increase of monty
paid on entries of vacant land to fifteen CENTS for
any number of acres however large small.
of our revenue SYSTEM viz that taxes be levied and
collected in the year; that lands be assessed
every five years, and that plan be adopted to pro-
duce greater uniformity in valuation all of which
is set out in bill reported heretofore to the Senate.
In twelve months from this tirnc it is confidently
hoped that the North Carolina Railroad will be COM
pleted if the aid asked from the State be given by
this Assembly. Should this stock pay two per cent.
upon three millions which may become the States
subscription this will discharge, in 1885, the inter-
est upon the last million for which the company is
asking. Should thc hopes of the company be reali-
zed, and the road sustain ITSELF paying its expenses
and the interest upon the State bonds the Treasury
will be relieved of heavy charge, and a good be
accomplished for our people which they and their
posterty will feel and appreciate in this and in flu
time.
If the recommendations of the committee be adop
ted, shall have income never less than four
hundred thousand dollars per annum. and with all
this addition to that may he looked for in
the future, the wants of the Treasury may be sup
Piled the expenses ofthe State Government and the
contributions and the aid given in the prosecution
of public works amply provided for, until those
works, when completed shall provide for themselves,
and exhibit their high, their grand moral effect in
binding together with bars of iron and with hooks
of steel all the members of our common mother in
their interests their affections their hopes and their
aspirations. Respectfully submitted,
j. G. SHEPHERD, Chairman.