Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1864-03-22

The fortyseeond section Of the act OF Msy l, 1853
as 70 i've per cent. can certificates Is repeated
Such ars the proyisioEs Of the funding Ect
psassss Of TGZ-PgyeYS and CsTTezey Holders in
Order Of Tine
Before April l. 1884, give in profits Of 1868 on pur.
chase and sale Of merchsndise, etc. and osv 10 per
sent. tax. now due
CorporatiOns give IN sxsoss Of pro for 1863 ov ,r
g per cent, and pay . per tax. now due
Fund al00 notsz--nag interest bearing
Fund sos, 20s, and los for four per cent. bonds
Provide enough Of such bonds to pay taxes due IN
/ 1864, and as many more ss you please.
April l, ,la64-RsgistsE and pay taxes On salsI and
profits under act Of 1863.
Before June i. Iss4-GiTs IN property tax at vAIas
Of property Ia 1850.
usfy l. fs62=thea give ln the price paid for tham)
plantation stock, mules horses cattle and ali I've stock
plantation tools and provisions, aud al property en-
Keep this separate from the other property, bocaass
. is TO be paid in the 1.-THE, the value Of the aiser de-
2 Other property viz: resi- estsie not used In agri.
taTs furniture, books, provisions, UTENSILS cotton
tobacco, etc, etc (But IL cotton and tobscr3 bought
since Jsruary, 1852 Yaiue at the price paid fer T.
Coin ana bullion held in this country, Confederate
bonds (not intending thea per cent bonds last uHshor
est bearing Confederate treasury notes. and except cap
ita notes, etc, employed in trade otherwise taxsd)
also, credits notes, accounts; etc, bruds.
4. Money held abroad, at Its market value In cur
rency.
5 Joint stock, at market value In currency.
8. Plate, rwelry and watches 40 per cent ts1,) =
Merchandise is not given In taxed "a properly,
the income being taxed
June /, Is64-Psy property tax on the foregoing sx
capt agricultural property this psy tithss from
time to time-snd the residue when sscsrtHineas in
money.
Pay gold and silver coin taz exchange etc. IN kind
Before July l, 1861, fund 81 bills
July l. 1864 Give in and pay sale or profit taEes
under set 1885, commence payment Of thes from time
TO time, crops are gathered
Oeiober /, ls64-Sales and pre- fis tExss again.
Continne 70 pay tithes
January 1, lS65-Sales and profit ta1ss again.
Income tax for 1864 now due.
From income exclude house rams ssrvant hire inter
ssts on notes value Of cattle and besf sold and any o
sr income derived from taxed properly.
Salary for 1861.
Fss ia aud pay extra profit saz levied By late zci,
Corporation tax on excess Of proais are % psr cant
Corporations pay income for 1861. The stock
h9derz pay the tax en- the stock a. property, June
aa1ch !, Is65-Cotton and bacon titheS
Pay residue Of agricultural tax 1864
As the saxes dus in 1864 ara payable in per cent.
bonds, 1t Is important to know which taxes due in
this year Il Is to be remarked that the tthss Of corn
ars not so payable. What taxes arsi
]. The whole property of every sort (if1as
eepted) the tax on gold and silver pate, jsWelTy,
watches, etc; the tax on joint stock.
/ CIsry-Will the psr cent bonds pay the tax on
eoln, exchange credits bonds and currency We think
| not. They be paid In kind
This extra proiis tax Of 10 per cent, profits Of
/ 1858, Is due.
3 Tbs registry aad gross sales taxes FOR April, Juy
and October.
Rut not the income salary or professional taxes for
| 1861, which are payable January l. 1865.
We will now propose and anaWsr 3 few Of the most
important or most perplexng questions connected with
these sctH;
l. when Is the tax on agricultural property to be
| psidf By section Con lst June, 1854 or sa g0Oa
thereafter practicable, tbs whole property tax is
be paid By section from the tax property en-
p0yed in agriculture shall be deducted the value Of
tax In kind delivered therefor provided that credit
shall be allowed beyond per cent We cannot thiak
this language authorizes the cons rucOn which requires
the PLANTER 70 pay Ger cent in advances and have
he value Of the dihes rafandsd from time 70 time The
money tax 20 be paid when 8seertaned. The tax is
90 DO paid after June as practicable, when
il q ascsItained what deduction" s be from ths
) par cent for the yalne Of the ithe The other
construction Il rot supported either by the nature Of
tue thing tho language Of tbs law. The Law does
not eontsmpiate 'refundng3 but "deduetinn nor the
advancsment Of more than what s dus but the psy-
ment Of residue. Aad Il would be most lneonTen-
lent and rigorous rule require to raise money,
sine Of thsyear when planters certainty have moth
ing to ssl TO be refunded by drblets In the fall
The law, would be alike incenvenient to tax payers
and tax collectors.
wiz between the per cant. and the aggregate
value of tithes supposng The latter insufcien0 in ad
vance In The per eert bonds at the Gloss Of deiv
ery-whleh, for bacon and sOtsnH might be IN 1865
Probably he could. -.. .
ued In the new and reduced currency and therefore no
! 20 80 FAR might be anticipated iu6gihg from his
yesrs valuation. Also, that the per cent. bonds d
not help the 1.-THE.
}, >. L the tax upon gold and silver coin exchange
etc 70 be paid in kindf-L g., per cent Of the gold
itself etc.
The language ssemsstudiORsiy 70 imply his Ia othe
sections the word "valuep Is smploysdn reference
gold and silver coin, etc, the word 'amouRf'-'upOH
the amount OF gold per esBL-Hot Of is value-il
| would seem-but of itself A distinction made In t1s
Sd section seems favor this VisTs being impossible
70 pay per cent Of the actual surplus money held
abroad, the tax is levied upon the value Of such
raoasy. The seems support the construction
Why such discrimination betHesu foreign exchange On
the one hand and money held Rbrosd the Othsr-al
would the latter twenty times high the Tor
meIi None, evidently. They are both taxed alike
both Ia ths same section and hare like relations. The
gold exchangs here is to be paid in gold exchange
hers on the vGlne here while exchanges be paid
kind. Since the foreign geld hssIf cannot DO reached
in kind the I'd section Of this act 20 have besI
drawn with Mica and exact refers1ce 30 this dBtne
tion.
Qasry-wTI four per cent bonds pay thsss taxes on
gold silver, bullion, exchange, etc
/ NO-nOt if the foregoing view Is correct.
The foregoing reasoning applies to ieds currency
stc.-the amount" Of shich sad not their vRlue {
Troublesome matter with Of them, for thsy
properly diVsabissti the argument decisive.
| 3 II tho Governments prsfss that treasury note
should be funded rather than pay the 335 per cent
could not the mechanical difficulty Of counting 10
mited tlne be overcome readily enough; could no
the department issue notes Eer tho manner Of the Ex
press Companies for packages sealed and said
tain much, to be afterwards opened and eounted 4
leisure. thens re decided preference Tor funding
the interest Of the Government the mechanical denit
would pitfui obstacle
Some other views Of the general system and Of eerEE
matters Of detail wall be presented Ia another article