The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-06-07
THE NEW TAX BILL.

An Act to Lay odditional tares for the common de-
l. fence and support Of the Government.
Sec J.. The Congress of the Confederate States
of America do enact, That in addition to the taxes
levied by the act to lay taxes for the common de-
fence aud to carry on the Government of the Con-
federate, States," approved 24th of April 1868.
there shall DC levied from 1.-THE passage of this act,
the sub jects of taxation hereafter mentioned and
collected from every person. partnership, asso-
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 herenaf
ter exempted taxed at Il different rate, five per
cent: Provided, that from this tax the value of
property employed in agriculture, shall be deduct
ed the value of the tax in kind delivered therefrom,
assessed under the law imposing it, and delivered
to the Government: Provided, that credit shall
be allowed beyond five per cent.
II. On the value of gold and silver wares and
plate. jewels. jewelry and watches, ten per cent
Ill The value of property taxed under this
ton shall be assessed the basis of the market
value of the same, similar property in the neigh
borhood where assessed in the year 1860. except in
wher5 land slaves cotton 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 or interests held
in any ban k, banking company association. canal
navigation, importing, exporting, insurance, manu-
featuring, telegraph express, railroad and dry dock
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 Ill the ghborhood where assessed
i'll such currency may be in general use there in
the purchase and sale of such property, at the time
of assessment.
Sec 3. |. Upon the amount of all gold and silver
coin gold dust gold or silver bullion, whether held
by the banks or other corporations Individuals
hive per cent; and upon all moneys held abroad,
upon the amount of all bills Of exchange, drawn
therefor on foreign countries tax of five per cent
such tax upon money abroad to be assessed and col
ected according to the value thereof at the place
where the tax is paid.
III. Upon the amount of all solvent credits. and
of all bank bills, and all other papers issued 5
rency, exclusive of interest bearing Confederate
treasury notes, and not employed in registered
business the income derived from which is taxed
five per cent
Sec 4. Upon profits made in trade and business
follows:
l. On all profits made by buying and selling spir-
iaous liquors. -four, 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 lSt of January, 1868 and the st January
1868. ten per cent, in addition to the tax such
profits income under the 'act to lay for the
common defence. and carry on the Government of
the Confederate Sfat0S approved April 24til, 1905
ii. On all profits made by buying and selling
money. gold silver, foreign exchange stocks. notes.
debts, credits, 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
the tax such profits as income. under the act
aforesaid.
Ill. On the amount of profits exceeding twenty
five per cent, made during either of the years 1868
and 1864, by any bank OF banking company, insu-
rance, canal, navigation importing and exporting,
dock. or other joint stock company of any descrip-
ton, whether Incorporate not. twenty five per
cent on 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 one hundred dol
lars; and.for each actually engaged in the army
or navy. who has died been killed in the mill
tary naval service, and who 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 or been killed
in the military naval service, where there is
40 widow. then of the family, being miner children.
to the value of one thousand dollars.
Ill. Property of every officer soldier, sailor or
marine. actually engaged in the military naval
service. Of such have been disabled in such ser
vice. TO the value of thons sand dollars; provided
that the above exemptions shall not apply to any
niturc, shall be assessed at value exceeding one
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