Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1864-03-24
Duties of Tax-Pnyers and Currency Holders In
= O,der o. Time. .

+ OIder of Time. -.
Before April l, ls64-Give 10 Profits of 1868 O
purchase ard sale of merchandise, &c, and pay ten pc
cent. tax now due.
Corporations give 10 excess of profits for 1868 owe
70 per cent, and pay % per cent. tax now DUE
Fund Sl0O notes-non-interest bearing &c.,
Fund Dos, 2Os, and los, for four per cent bonds
Provide enough Of such bonds to pay taxes due II
1864, aid as many more you please.
April l, 1864-Registcr and pay taxes on sales an6
profits under act of 1868.
You can now exchange sos, 2Os, and los, for new
issuee.
Before June l, ls64-gye in property tax at value
of property in 1860
/. Value of land negroes,S (uness bought since
January L, 106i-then give in price paid for them)
plantation stock, mules, horses cattle and all live
employed in agriculture
Keep this separate from the other property because
it is to be paid in TIE titbe the value of the latter
deducted from the tax.
q. Other property, viz: real estate not used in as
rcuItuIe furniture books provisions utensils, cotton
tobacco, &cr &c But if cotton and tobacco bought
since January 1862 value it at the price paid for it J
| 3. Coin and bullion held in this country Confede
rate bonds mot including the four per cent bonds last
auhorized), bank bills, and other currency (?xcep,
non-interest bearing Confederate treasury notes and
except capital notes, &C. employed 10 trade other
wise taxed), also Credits notes, accounts &c. bonds.
| 4. Money held abroad, at its market value in cur
Erency.
l. . 5. Joint stock, at market value in currency.
3. Plate, Jewtlry, and watches 10 per cent, taxi
| aerchandz9 is not given in taxed as property,
the income being taxed
! June l, lS64-Pay property tax on the foregoing
except on agricultural property this pay tithes,
tom time to tplc--and the residue when asceraiied,
| in money.
/ Pay god and silver coin tax, exchange, &C., IN
KIND.
Before July l, 1864, fund s. bills.
July I, l6G4-Give in and pay sale Or profit taxes,
| under act 1903 commence payment of tithes, from
| time to time rs crops are gathered
October l, 1sG4-Sales and profit taxes again.
| Continue to pay tthes.
January !, l6G5-Sales and profit taxes again.
Income tax for 1864 now due.
| From income exclude house rent, servant hire, In
terest note value of cattle and beef solo, and any
| other income derived from taxed property.
Salary for 1854.
Give in ard pay extra profit tax levied by late act,
Tor 1864.
Corporation excess of profits are 25 per cent
Corporations pay 20 other income for 1864. The
stockholders pay the tax on the stock, property,
June l, 1864.
March l, l8G5-Cotton and bacon tithes. ....
Pay residue of agricultural tax of 1864.
AS tie taxes due in 1864 are payable in per cent
| boz ds, it is important to know which taxes due
this year. 1t is to be remarked that the tthes of
are not SO payable. What taxes are?
l. The whole property taxes of every sort (tithes
excepted); the tax gold and silver plate, ewelry
watches, NC; the tax joint stock.
] Query.-Wil the per cent bonds pay the taxes on
coin, exchange, credits, bonds and currency? We
think not They are to be paid in kind.
2. The extract profit tax of 10 per cent. on profit
of 1868, is now due
g. The registry and gross sales taxes for April July
and October
But not the income, salary or professional taxes
which are payable January lst 1865.
| We will now propose and answer a few CT the mos
important or most perplexng questions connected will
| these acts:
l. When is the tax On agricultural property to bt
paid By section Con 1st June, 1864, or soor
thereafter practicable the whole property tax is
| be paid BY section from the tax property Ell,
ployed in agriculture shall BE deducted the value OF the
tax in kind delivered therefor, provided that credit
shall be allowed beyond per cent. We cannot think
this language authorizes the construction which re
quires the planter to pay the Fer cent tax IN ad
vance, and have the values Of the tthes refunded from
time to time. The money tax is to be paid when as
certained. The tax is to be paid after June Isl
as practicable, "when it is ascerained what deduction
to be made from the per cent. tax for the value Of
the 1.-THE. The other construction ig not supported
either by the nature of the thing the language o.
the law. The law does not contemplate retundlng bu
deduction the advancement of more than is duf
but the payment of residue. And it would be mos
announcement and rigorous rule to require to raise
money at time of the year when planters certainly
have nothing to SELL to be refunded by drlbets IN the
| fall.
The law would be alike announcement to tax payers
and tax collectors.
Query.-Coud planter pay his estimated dehclt
(vz between the 5 per cent. tax and the aggregate
value of tithee supposng the latter nsufhcent), II
advance in the per bonds, at the close dev
ery-wbich for bacon and cotton, might be IN 1860
Probably he could.
It is an important fact that the tithes will be value
in the and reduced currency, and therefore not
so lar as might be anticipated Judging from this year
valuation. Also, that the per cent. bonds 40 DO
help the title.
| 2 Is the tax upon gold and silver coin, exchange
&c. TO be paid IN kind 81. per cent. OF the 60!
itself, &c.
/ The language seems studiously to imply this Il
other sections the word "vaIue is empoyed-In re
ference to gold and silver coin, &c. the word amount
upon the amount of gold per cent-not OF IT
I vaIue-t would eeem-but of itself A d'sIncuo
made in the Sd section seems to favor this view
being impossible to pay per cent. of the actual COZ
pus of Money held abroad, the tax IS levied upon IN
value of such money. The reason seems to supper
the construction. Why such Discrimination betwee
Foreign exchange on the band and MONEY bel
abroad on the othSr>as would tax the latter t~ent
times az high as tie former None, evidently. Tn"
are both taxed alike, both in the section and ha'
ing like relations The gold exchange here - to
maid IN cold or exchange The gUld EbroGd is ~ "a
tax in CoIfrCera mODcy here o. its fane be- VIII
exchange can be paid 10 kind Sine the tOreI:D go
itself cannot be reached in kind the 30 as;'Ion o. en-
act seems to have been drawn with ptce aad tr'(
reference to this distinction.
4 Query-W four per cent, bonds pay th.ae faHt
: On gold silver bullion, exchange, &c?
+ .No-Not if the foregoing view IS correct.
The foregoing reasoning applies to credits currency
, &c-the ''amOuut' of which and not their Vdluc.
t taxed-these, too, payable IN klnd- IL VIII DC
troublesome matter with OF them tor they are 1t
t properly devsable.8t the argument seems decisive
? 5 II the government prefers that Treasury noN
should be funded rather than pay the tax OF o. p
cent-could not the mechanical difficulty OF couot
in limited time be overcome readily enough cou
not the department issue notes after the manner of u