Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1861-08-28

Section Third provides that holders Ot Treasury
Notes may, under certain regulations, exchange
them for the Confederate Bonds bearing per
cent per annum
Section Fourth, being the gist Of the whole mat
ter, will be poised upon the bannccs of every
mind. Weigh it :crupuluusly:
"Src. 4. That for the special purpose of pay
iup the principal and Interest vi the public debt,
uf sul.nOrtns the Government, IL war tax shnll
br. assessed and levied Ut iity cents upon each
one huEdrcd dollars in value vi the following pro-
pcrty in the Confederate States, namely: Real
estate of nl kinds. slaves, merchandise, bank
stock railruaI and other corporation stocks, money
ut interest, or invested by individuals IN the pur-
chuse of bulls, and other securities lUr money,
except tho bonds vi the Confederate Staes OF
America, and cash OH hand, Or on deposit in bank
or elsewhere; gold watches, gold aud silver plate,
pianos and pleasure carriages: Proridcd, hogerer,
That where the taxable property herein above
enumerated, OF any head OF l. tunly, is Of value
less tlun $jUU, such taxable property shall be eS.
emit from taxation under this Act: And prVcHiel
Gtriher, That the property Of colleges und schools,
and of charitable or givus cOporatiUus, or as
sociution., actually Tor the purposes for which
such colleges, Schools corporations or associations
were created, >hl! be exempt FROM taxation un-
der this Act: Iimt proriGei further, That nll
property ownrd by State for pubic purposes bc
exempt from tuxa;lor.
Section F;;tih clsatcs one chief Tax Collector
lur each State 1T SALARY of $?UUo, appointment
to be made Ly the p:esiuenr,-sad Chief to up
puint suh-collcctors for the different collection
Disti:ts and said Districts 20 be dcti1cd hy the
State Cvlcctpr,-all by md with tue 'dvi,s or
apprvuativi, vl the Secretary vi the treasury
tue sub-rpllcctOrs to appoint Assessors who shall
assess all the taxable property Of the Districts
bcfurc tic lit vi November noxt
Section. 9TH, III, SM md VG arrange the man-
ner ol making this assessment, the penalties for
fraudulent returns &r.
Srction 7c"tA u.auires thns these assessments
be all returned 10 the Chief Collector on OF before
til. Is; Of February next
Section E".reMM provides for the collection Of
taxes to begin On the lst of May ensuing.
SECTION Tmrljlh directs the mode Of procedure
against individuals III cases Of future to pay the
taxes assessed. II also fixes the remuneration OF
assessors ut s. for every day employed in making
lists and assessments under this Act, allowing
them alsy So for every tundrcl taxable person:
continued in said lists.
Section. llth, 18th aGa lGM have reference IL
the details Of the duties OF collectors, their
bonds, .Sc.
!eectiom .Iercmhch establishes IL statutory lien
upon the property Of dciaultcrs for one year, and
n similar lien ur five years upon the properly ni
collectors.
Section EigitcentA limits the perqui>tcs Of sub
collectors to $SGn.
Section T~c"tieM il specifically interesting anu
runs a$ follows:
SIC. ~. Corporations arc intended to be EN-.
braced under tho word "persunS,' used in this
Act: aud whenever the capital stock Of any COR
portiun is returned by the corporation itself and
tho tax paid, the stock in the hands Of individu-
ais shall be exempt from tax and also all the resl
estate owned by the corporation and used for ear.
rying ON it, business, and the capital stock uf all
corporations shall be returned and the tax pm i
by the corporations themselves, and not by the
individual Stockholders. The term merchandise
is designed to embrace all gou'ls, wares and mcr.
rhundiSe held for sale, except tho agricultural
products Of the country. Muney Mt interest is
intended to include the principal sum Of all money
belonging to any person other than bank, upon
which interest is paid ur to be paid by the debtor
as the snlnc stands the first day of October
Tie term cattle, horses and mules is intended Ia
include nli such animals ns are raised for sale
aud not such ny urc raised merely for food aud
work un the plantation or farm where they nrc
held. The term real estate is intended to include
n lnnds and estates therein, and all interest
growing hercvut, including ferries, bridges, mines
II,, IN. III . al lntp
he value of property is to be asSestcrl.
.SeciionS LIST, .2d omd 2;d make provision lri
the punishment Of all forgcrics Of Treasury Notes
bonds &c.
Section Treniy Fourth is brief anil imr"rtant
and VIC conclude this summary Of the Act by
giving it entire:
"SEc. 81. If any State shall, on or before the
lst day of April next, pay, i'll the Treasury notes
of the Confederate Stntcs nr in specie, the take:
assessed against the citizens Of such State, lc*s
ten per ccntum thereon, it shall be the duty 0
the Secretary of the Treasury to notify the same
to the several Tax Collectors Of such State, nnd
thcrcupOn their authority anl duty under thi:
Act shal! cease
Such is the substance of the great Act of Con
gress just passed, un,l passed unanimously. The
timed in conception and fallncious in argument
against this measure. But we believe it has !al.
len illborn before the high.toncd determination
Of united people. With this exception we ,;t
not belicve there hnS been u vuice raised asains
the War Tax: nor is il ut Ill probable thar .hcrs
will be, in the present exigcnres of our country
The great truth thnt underiirs and sustains the
justice and wisdom Of this net will bc seen and
appreciated hy every mnn of reflection. 1t il
that the property of The country should ratentfJ
pay the expenses of the war; and in M way can
this end be 80 well renrhcd as by direct taxation
Another Recommendation of the Act, is is adop-
ton uf mole of raising revenue to which our
people must learn to accsde mt once, if they would
mot have Tie Confederate Government run tha!
dangerous career of indirect taxation which has
had more to do than any other cause with destroy
ing the Government Of the United States.
A third reason for welcoming this scheme OF
taxation is, that it evidences self reliance, and
an ability to sustain ourselves, Tint will so rs fur
~ the success of our arms towards convincing the
world lhut VIC arc an established and powerful
Confedcrney.
Still another Recommendation is to be found in
that wise provision, which, while it lays an impo-
silion of considerable weight, originates in large
degree the means of meeting tive alludc to
the circulation of Treasury Notes which must nj
once tend to tue relief of the country's
But was our purpose only to sketch for our
readers this Aet, and 10 copgra!alata them and