, 1861-08-10

" oItlsc"Acre. q I7pM any Gt:eF SG,lSte s0aQtefe5
II EucE annual income cxcf eds tho sum Of eight
hundred dollars. tax Of three per centum on tue
amount OF such excess Of s1cll INCOME above eiglt
ton Of said income =. sha be derived from % inter
States, there shall be levied, collected, mud
1um taaa rea M te e. iseome ad rates s e sdends Si
owned j. Tic United States ey my citizen 81 the
ed collected, and paId, tax Of five per cerstuui
excepting that portion of raid income derived
nom interest on Treasury notes and other srsnri
Which shall pay one and one-haf per ce1ltutn.
The tax herein provided shall be ass.s:ed upon
for TIC year e next p7eeeaing the time for assessing
ssid tax. to WIT: tho Tear ncst preceding the 1st
Of January, 1869: and the said taxes, wien go as
property OF other sources Of ssid income for the
a1nonnt Of tho eamc, with the 1ntercet and stl,er
ty1Nnses Of collection, until paid. Pr0rided.
That ell local taxes assessed upon this proparty
tIc.n which The income is derived zAan be first de-
ducted-
What amcnnt will be obtained from this
source Is matter Of conjecture. But some
estimate it at t~enty millions per annum,
The rtrcEuc i, be derived from the new law
mkt gear, is estimated Us follows:
Tarlh. opp,0a0 to S50. 0.oOo. 600
1aes@s Rsss t:a :a4:: 1sssSss 1s ts ss assSss ais
Total. s73Wp,u0o to $ss 900 900
Tie Government really needs 500, ,00o, 900
per year while the war lasts; and it is very
probable that Congress will be obliged, next
ssEsicn, TO Go what it should have done this
ons-,ay an cxciec duty On distillers' and brew
ere Iquurs, and tax on bank notes.
LII relation to such persons as are in rebel
lien, and refuse to pay their proportion Of the
texes, there is the following Section:
she IS. dHd BE- q further e.,acled, That should
any c the people Of any Of the States be In actual
rebeli'o7 against the authority OF the Government
operation, 50 that the laws Of the United States
Cannot be executed therein, it al1au be the duty
u the President, and he is hereby aathorizft1 to
the limits Of such State Territory, or the Dis
1Iict Of Columbia, so soon as tie authority Of tie
Laffed States therein Is and tc collect
reTso5s residing or holding property or etocks
therein, with the Interest due, at the rate Of sir
! peT ceHtuM per annum thereon. until paid il the
mannt1 and nLdcr the regulations prescribed in
| the foregoing sections Of this act
| As socp, therefore, as the rebellion il pnt
acWn in any revoltea State, the back auzz
must tc forthcoming, II the rebels in State
escape for SIX years, they will be obliged to
fnsk oysr the six years de1inqueat taxes on
toth property AND income, witE,. six Per cent.
ia;s1e53 tLers5n, fer The Ting they have been
due.
Az 20 re tine It which three NEST impo7-
i:=t mtaEEre5 60 jnta cGac.-tbe INCOME tax
IS 10 be tI7ien on sill annual incomes, reckon
ID ltcin lie 1E5 ef April, 1861, to April 1st,
1sG.?, at which time tie etstcments are to be
ta;:: ior and the tax TO be collected within
e.ty asya tEt1tatter. TIE direct tax On re,l
{: tatc is tsckt3ed from tAe same period, but
III c'5i:ecto1s a1e to be appointed before the
EEcc:d Tue=aay in February, 1862, by which
t;lue Tic States arc to nosifs tic G=ncral Coy
e::m.nt as to their int=1t:oa regarding al
assumption q the tag. TAeSiatss ere to haze
til the S0th Of June, 1862, to psy in thelc
quota. In caz2 of c2ilSc;i:r By Federal ofIi-
csEE, tie scsrt tar5 ef the Treasury is to make
advertisement OF Tie times e:ld r1:c:s Of col
1sctiDG the tax. TIE valuation is TO be the
actual market value cf The lauds, &c, ua tue
Il; Of April, 1852, Or the State Ys1ua*ion aea.-
est Thereto.
Ii will tlls b. seen i:iat nearly gear will
e!arsa bElorc the people sra to be called u..on
IT, Fay either OF these taxes.
GAe ncGifcs!io4s Of The Tariff 90 into ef-
feel wilma twenty da:s atits It's passagss-say
AIssuzt .s1st, 1861.
The rect effect If tlc modified tariff, the
il'e< 12e FAX, u d tie 5Ecct tax on property
VII be as coic1hpora1y justly observes, to
& SURG lc1sieE Eatiors, aad especially capita!-
ISLE, hit y:e age il desdly ealncst as pco,ls,
ESQ tfst all classes, b3 their II {rcscotasiye=,
{; Lave zt=ulysd TO Eut Their tsnls in ti1si.
!: 5ceLt:a, without ex2epi;::a or 1cs::y;!ins,
! sd & cure he lntaiss fJt prosecuting th:
/ c:5uE::lc tG successful :sz;s TIE c8tiou
! 'nlic.. W.: do iEis eea cou.maod eoxfi1eute
j.! ::1!d c'eG.t atroaG:. Tee nation which refuses
| &c TX iii re.rle. nn*reus1S i; mead ba, aud to
:: ;ke tycs;3 .nttresi bear its part in the graf
!: *c1l t.f ~ taIn:rE its goysTam:na a;,e Ioot-
; ~ lt= hiis: caa atteE expect fr51n other ua
4: t:s,i.s c7iu:acn which i! s1lrok5 frain 1n.a-
:; i;tsi:rg 'tce.f We Elel1 g2ca i,a il he II ,.an
IL 1::'lt1s Of Euto:,a fora 1oau Of Sl00 000,-
cct. az 81. cl l1e s25o, ,000, GOO dccmed 1s@es-
!; s::y :rr tha fiscal gear b. 5E..:ng IL. 1ss ct
/. Jul: l::Rt AL5 tc this cad, and lAa csnsa
! l1vEt tsit:i5l1r:.lI ci Cur national credit .n
! Z fi!zn bars, svsa. in the midst Of tsca1et.-
j dors exEs: clcy OF war, the people must c,a,.s
na1s:u;i. up tc tie nTlk aaG giEe effect to She
!: =c;icn ii ;he!1 he: :.rceansat;yes.