The south-western. [volume] (Shreveport, La.) 1852-1870, 1861-09-11
The Tax and Loan Bill.

Inc confederate tax and treasury hoLe ON mas oee
published in full in the Richmond papers.
We shall give here full abstract of its provisions
deferring to another occasion examination OF then
bearings and operations
1t authorizes the issue of treasury notes, of demon
nation not less than five dollars, and an aggregate
amount not TO exceed one hundred millions OF dollars
to be outstanding any one time including all other
issues OF treasury notes. to be redeemabe SIX months
after the ratification of treaty Of peace with the Untea
States to be receivable for all public duties including
the war tax and excepting the export duty on cotton
The loan of thirty millions of dollars authorised by
the act of May last is extended and enlarged so as to
authorize issue altogether of twenty years eight per
cent. bonds to the amount of hundred millions OF
dollars These maybe exchanged for military and naval
stores specie produce provided form the produce
loan Of May.
The holders of the treasury may, at any time,
demand Confederate bonds in exchange for them, ac-
cording to such regulations as the treasury may make
Iii not stated what interest they shall BEAR or where
| they shall be made payable.
For the purpose Of paying the principal and interest
of the public debt tax has been levied OF 80 cents
the $780, onehaf of one per cent on the follow
ing described property within the Conede ate states
Real estate slaves merchandise bank stocks, railroad
and other corporation stocks money interest or in
vested by individuals in the purchase OF bills notes ana
other securities for money excepin Confederate bonds)
cash on hand or in deposit in bank elsewhere catte
horses and mules gold watches gold and silver plate
The exemptions the property of every head OF family
whose aNables are less in value than $780, all pubic
lands and the public property of State, usedtor public
purposes, and that of all religions, educational and
! charitable associations
Each State is collection district for which the pres
dent shall appoint chief collector annually, with
salary Of $1,000. The chief collector makes subcolec
ton districts and with the consent of the secretary OF
the treasury appoints subcoectors for each district
The assessment OF taxabes is to be made before
the first day OF November with reference to the value
of the property on the first day of October The list
and rolls must be completed by the first OF December
and each tax collectors may then for twentvone days
hear appeals against the assessment The final returns
to be made to the chief collector in each State
before the first day Of February next and the whole
collected and forwarded to the secretary of the treasury
The duty of collectors shall commence the first day
4 May next
Any State permitted to assume the payment of the
amount of its assessed taxes IN Confederate notes or in
specie, il done before the fst day of April next
and shall be entitled to deduction OF ten per cent
| the gross amount
The method of assessment prescribed is that the sub
tax collectors shall give public notice. as far as pract
cable in the forms used for State taxation otherwise
under rules made by the chief collector for the tax payer
under the law to furnish written lists of his taxabes
list made by the officer at the dctaton Of the tax
payer, shall be receivable. False lists or fraudulent
statements subject those convicted of them to fine of
$500. A failure furnish list subjects the offender
to have his list made ont by the assessor and to pay
double tax that
The manner of collecting for personals is this: On
the first day of May next the collectors shall give twenty
days notice by newspapers and in four places in every
township, ward and precinct Of the time and place when
the is receivable On failure to pay he NAV make
immediate disrain Of goods and advertise them for
sale They may be redeemed any time before sale bv
paying the taxes with and charges as usual in the
State, with five per cent addition The surplus if any
there be, to be returned to the owner
Payment of taxes real estate may be extended to
the LIST of June. II not then paid enough NAV be sold
after notice, at auction to produce the amount of the
taxes, costs, and twenty per in addition to the
of the Confederate STATES If the property brings
more, the overpIus IS to bereumed if the sum due is
not bid the coectoray buy the property for the use
of the government. The owner may stop the sale by
paying taxes costs and per cent or may redeem the
property within two yeafs by paving the tax, costs
charges and twenty per cent In the case of any tax
payer who is in the military service of the Confederate
States the right of redemption exists until two wears
shall have elapsed after bis discharge from the service
Deeds for land sold to be made by the several col
lectors, and Acknowledged and recorded pursuant to
the laws OF the Confederate States of the State in
which they are sold and the only fee allowed to the
officers etfecting the sale is FIVE dollars from the pur
chaser
Assessors are allowed three dollars day, and five
dollars for every hundred taXables listed They are re-
quired to make out the lists for nonresident property
owners.
The tax collectors receive compensation of : per
cent the first $1,000 collected and u per cent
on all further sums until the amount reaches $500
aftar rgloh they sh-ll receive nothina Ti.4s apa
cuafgeape with interest per a month on all
sums retained beyond period when they are bv law
payable into the treasury.
Section 2oth makes thefolowing definitions:
Corporations are INTENDED to be embraced under the
word persons whenever the capital stock OF anv cor
poraton is returned by the corporation itself the stock
in the hands Of ndjYduasis exempt from tax the real
estate owned by corporation and used for CARVING on
its business and the capital stock of corporations shall
be returned and the tax paid by the corporations them
selves, and not by the Individual stockholders The
term 'mcrchandse' is detigned to embrace all goods
wares and merchandise he'd for sale except the aeri
cultural products Of the country.
money at interest is Intended 10 include tho nrin
ctaI sum OF all money belonging to any person other
than bank upon which interest is paid by the debtor
as the same stands on the first day of October The
term cattle horses and mules is intended to include
all such animals raised for sale and not such AS
are raised merely for food and work on the pantaon
or farm where they are held The term real estate
intended to include a lands and estate therein and all
interests growing thereCut, including ferries bridges
mines and the like and il all cases the actual
value OF the property is to be assessed.
The remaining section of the law relate to the forna
ties Tor adjusting between the collectors and
treasury, except that the 21st 22d 23d and 25th sec
tons define the crime of forgery in regard TO the public
securities OF the Confederate States and fix the penalty
y death for any offence Of the kind committed during
me war and Tor year after the occurrence of peace
md inc and Imprisonment for offences thereafter
[Picayme. t