Spirit of the age. [volume] (Raleigh, N.C.) 1849-1865, 1855-01-24

Sundries, including store tax, As, 900 90
Tax on new subjects not her etorore
included in any revenue bill, $4,000 90
Dividends on Railroad, Plank Road,
and other productive stocks, 5S,434, OF
From State bonds belonging to the ire
asury, as part of the income Of 1856,
from Nov. LIST, 1854, to Nov. LIST
1856, Ill, 900 90
1921, 6S4 "a
A total change is recommended in relation
to the tax on merchants, both for the purpose
of increasing the revenue, and for the sake
of greater uniformity and fairness in the le-
Wy. The adValorem system has yet been
adopted, and provision is made that one-eighth
ofone per cent, upon the capital invested shall
State is assumed for the sake of argument to
be twenty-five millions of dollars, then the
tax proposed will be $31, $50.
This system is preferred because it ope-
rates equally upon every trader, whether his
capital be large or small. Under the present
law, the highest tax paid by a retail mer-
chant is twenty dollars. Under the altera-
ton proposed, a capital of one hundred thou
sand will pay 1925.
The Committee recommend a tax of five
per cent. upon all spirituous liquors and
wines not of the manufacture of this State.
From this source an income is looked for not
less than sixty thousand dollars per annum
Other articles not of our own growth and
manufacture, pay a large sum iNto our Treas,
ury, and the Committee selecting this az a fit
subject Of taxation, have reported a bill to
that effect.
A change is made in the tax on commits
sion merchants. A tax is laid OF five per
cont on oil fornirp Ir,uc rooI;ooc opl
nostrums, sent to this State to be sold and
agents, selling or Offering to sch goods by
sample and one hundred dollars on all for
wardlng express companies.
A tax of twenty dollars on all persons
retailing spirituous liquors, wines, or cordial'
by a measure Of less than a gallon, is re-
commended.
On the tax of land and polls, it is proposed
that five cents on the poll and two on lam
be set apart for the Lunatic Asylum, tn,
sum now paid, viz: Il on land, and 81 OF
the poll.
The committee recommend an increase O
money paid on entries of vacant land, t
fifteen cents, for any number Of acres how
ever large or small.
A radical change is recommended in an.
other part of our revenue system, viz tina
taxes be levied and collected in the sam
year that lands be assessed every five year
and that a plan be adopted to produce grear
er uniformity in valuation all of which
set out in a bill reported heretofore to tn
Senate.
In twelve months from this time, it is con
fdently hoped that the North Carolina Rail
road will be completed, if the aid asked frol
the State be given by this Assembly, Shout
this stock pay two per cent. upon three mil
lions, which may become the States sub
scription, this will discharge, in 1856, I'll
interest upon the last million for which tn
company is asking. Should the hopes
the company be realized, and the road sus
tain itself, paying its expenses and the il
terest upon the State bonds, the Treasul
will be relieved of a heavy charge, and
good be accomplished for our people whic
they and their Prosperity will feel and a
preciate in this and in future time.
If the recommendations of the committt
be adopted, we shall have an income ncv
less than four hundred thousand dollars p
annum, and with oil this addition to O.
means that may be looked for in the futul
the wants of the Treasury may be supple
the expenses of the State Government a
the contributions and the aid given in t
t. prosecution of public works amply provid
for, until those works, when completed sh
provide for themselves, and exhibit tn
high, their grand moral effect in binding
gether with bars of iron, and hooks of ste
! all the members of our common in their
a t~erests, their affections, their hopes and tn
aspirations. Respectfully submitted
j.. G. SHEPHERD, Chairman