The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-03-29
TREASURY INSTRUCTIONS.
From the Fayetteville Observer.


I The Commissioners Of Taxes has published three
close columns of aInstructions to Collectors and
Assessors of Confederate Taxes" which settle the
| Treasury construction of some of the doubtful
points of tax aud currency acts.
| One of the most important of these decisions is
that the assessment, which has not yet been made
and cannot be made for month or two to come, il
consructively referred back to the 18th of Febru-
airy, whereby the value of all stocks is to be as
sessed in May, at what they are worth on the l7th
of February, before the tax law had made some OF
these Stocks utterly unproductive and for the
present valueless. We can hardly suppose that
Congress meant to do SO cruel thing. The stocks
oil the banks in this State have been in many in.
| stances the main dependence of widows and chill
dren They were worth on the 18th of February
some 800 per cent. Congress fixes tax upon
them OF Is per cent, when they only produce 10
per cent, leaving the holders not only nothing, but
requiring them to sell the principal to pay the tax
and support themselves And in attempting to
sell, they find that Congress has not only claimed
more than the income, but has also in great
measure destroyed the value Of the principal.
We wouS caution holders of stocks against sac
ri6cing them for it is almost certain that the new
Congress, to meet in May, will modify this provis-
Iioa. We think it likely that the intention of Con-
cress was the same here as in the other property
tax-to reach the spectators who had made enor-
nous fortunes and invested their money in any
thing rather than Confederate Bonds. But in
this case the provision omitted by which those
who held before the war pay on the value then,
and those who have Invested since pay on the
price of purchase.
Among other Instructions, We note the following:
Farmers who fail to deliver their tax in kind
| are to pay FIVE times the estimated value of the
portion not delivered. ....-. -a
Every person, whether farmer or not, who
slaughters more than ESQ lbs of net PORK, is re-
quired to pay the tax in kind.
Persons owning not more than two and
calves are exempt from the tax on neat cattle.
State collectors salaries to be ne-tenth OF per
cent, but not to exceed $4,000 year. The Dis
trict collectors per cent on the first $4,000, 2
per cent on the next 10000, / per cent on the
next $4,000, and lilo of l per cent on all over.
Assessors So day for making lists, and s. for
every 100 taxable persons.
Producers of sweet potatoes may commute by
paying the money value as fixed by the commits
sioners under the impressment act.
Provision is made for RENTING the tax on cot
ton other property destroyed.
The tax on gold and silver is decided to be
payable in kind
Joint stock companies or corporations may pay
the tax Oh shares, instead Of the individual share
holders This cannot be done by the banks of
Cape Fear and North Carolina, for then they
would be paying out of fund belonging in part
to the State, and the State shares are not subject
to taxation.
THE 1.-THE TAx-Farmers have frequently
asked whether the tax for 1868 or that for 1864
was the set off against the per cent property tax
due on June l, 1864. The Commissioner of Taxes
at Richmond has instructed the collectors this
point as follows:
'sThe question as to whether the value Of the
tithes of 1868 or those Of 1864 is to be deducted
from the tax the value of property of 1854, has
SO many attendant difficulties that it is deemed
best not to settle it at present by the Department,
but to refer it to Congress at its meeting in May.
The tax not being payable till June no injury will
eusue from the DELAY"