The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-08-16
TIE NEW TAX BILL.
an Act to lay additional tares for the common
f9nce and SuDD0rt If The (Torornr,eaF

fence and support Of the Government.
Sec. |. The Congress of the Confederate States
of America do enact, That in addition to the taxes
levied by the 'act lay taxes for the common de-
fence and to carry on the Government Of the Con-
federate States," approved 24th of April, 1868
there shall be levied, from the passage of this act,
the AFFECTS of taxation hereafter mentioned and
collected from every person. partnership,
citation corporation, liable thereto, taxes fol
lows, to wit:
l. Upon the value of property, real, personal and
mixed of every kind and description not hereinaf-
ter exempted taxed a different rate, five per
cent Provided, that from this tax on the value of
property, employed in agriculture, Shall be deduct
ed the value of the tax in kind delivered therefom
assessed under the law imposing it. and delivered
to the Government: Provided, that no credit shall
be allowed beyond five per cent.
II. On the value of gold and silver and
plate, jewels. jewelry and watches, ten per cent.
Ill The value of property taxed under this Sec
ton shall be assessed the basis OF the market
value of the similar property in the neigh
borhood where assessed in the year 1860 except in
cases wherJ land, slaves, cotton or tobacco have
been purchased since the 1st day of January, 1862
in which case the said land, slaves, cotton and to :
baccO purchased, shall be assessed at the price
actually paid for the same by the owner.
Sec 2. On the value Of all shares interests held
IN any oank' banking company orassocatIon, canal,
navigation importing, ex porting insurance. manu-
companies. and all other joint stock companies of
every kind, whether incorporated not, five per
cent.
The value of property taxed under this section
shall be assessed upon the basis of the market value
of such property the hbOroud where assessed,
in such currency may be in general use there, in
the purchase and sale Of such property, at the time
of assessment.
Sec 3. l. Upon the amount of all gold and silver
coin, gold dust, gold silver bullion whe Their held
by the banks other corporations Or individuals.
five per cent; and upon all moneys held abroad.
upon the amount Of all bills of exchange, drawn
therefor on torei gn countries, tax of five per cen
such tax upon money abroad to be assessed and col
lected according to the value thereof at the place
where the tax is paid.
ii. Upon the amount Of all solvent credits. and
of all bank bills, and all other papers issued as cur
rency, exclusive of non interest bearing
treasury notes, and not employed in a registered
business the income derived from which is taxed
five per cent
Sec 4. Upon profits made in trade and business
follows
|. On all profits made by buying and selling spir-
ltuous liquors, flour, wheat, corn, rice, sugar,
asses or syrup. salt, bacon, pork. hogs, beef or
beef cattle, sheep. oats. hay, fodder, raw hides,
leather, horses, mules. boots, Shoes, cotton yarns
wool, WOODEN. cotton mixed cloths. hats. wagons
harness coal, iron. steel nails at any time be-
tween the LIST of January 1868 and the lst January
1865, ten per cent, in addition to the tax on such
profits income under the act to lay taxes for the
common defence. and carry on the Government of
the Confederate States, approved April 24th, 1868
H. OH Ill PTonts maze Dy buying ana selling
money, gold silver, foreign exchange stocks, notes
debts, credits, or obligations of any kind, and any
merchandise, property or effects of any kind. not
enumerated in the preceding paragraph. between
the times named therein. ten per cent. in addition
to the tax on such profits income, under the act
aforesaid.
ILL.,. On the amount Of profits exceeding twenty
five per cent, made during either of the years 1863
and 1864, by any bank or banking company, insu-
rance, canal, navigation, importing and EXPORTING
telegraph. express. railroad. manufacturing. DIV
dock. or other joint stock company of any descrip-
ton. whether incorporate not twenty five per
cent such excess.
Sec S. The following exemptions from taxation
under this act shall be allowed. to-wit:
|. Property of each head of family to the value
of FIVE hundred dollars; and for each minor child Of
the family to the further value Of hundred dol.
lars; and for each son actually engaged in the army
or navy. or who has died or been killed in the mill
tary naval service, and who was a member of the
family when he entered the service, to the further
value of five hundred dollars
II. Property of the widow of any officer soldier
sailor marine, who may have died been killed
in the military naval service. or where there is
widow, then of the family, being minor children
to the value of one thousand dollars.
III. Property of every officer soldier, sailor or
marine actually engaged in the military or naval
service. of such have been disabled in such SER
vice. to the value of one thousand dollars; provided
that the above exemptions shall not apply to any
person, whose property exclusive of household fur
thousand dollars.
". That where property has been injured or de-
stroyed by the enemy, the owner thereof has
been temporarily deprived of the use or occupancy