The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-03-22

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cotton, tobacco, &c, &c. (But if cotton and 70
oacco, bought since January, 1862, value it at the
price paid for it)
Coin and bullion held in this country, Con.
iederate bonds. (not including the per cent
bonds last authorized) bank bills, and other cur
rency, Except non-interest bearing Confederate
Treasury notes, and except capital or notes, &c.
enrplyed ia trade, otherwise taxed,) also, credits
notes, accounts, &c.-bonds
4 Money held abroad, at its market value iu
currency
3. Joint stock, at market value in currency.
g. Plate, jewelry aud watches, Go per cent.
Merchandise is not given in nor taxed as prop-
erty the income being taxed
June L, 1864 Pay property tax on the fore
going-except on agricultural property; on this
pay tithes, from time to time-and the residue
when ascertained, in money.
Pay gold aud silver coin tax exchange, &c, in
kind
Before July l, 1854, fund IS bills
July /, 1S64.-Give 10 and pay sale or profit
taxes, under act 1868; commence payment of
tlthes, FROM time. to time, as crops are gathered.
October L, lS64.-Sales aud profit taxes again
Continue to pay tithes.
January L, l865.-Saes and profit taxes again.
Income tax for 1864 now due
From income exclude house rent, servant hire
interest notes, value of cattle and beef sold
and any other income derived from taxed proper.
ty.
Salary for 1864.
Give in and pay extra profit tax levied by late
act, for 1864.
Corporation tax on excess of profits are rs per
cent. Corporations pay no other income tax for
1864. The Stockholders pay the tax on the stock,
property, June / 1861
March l, l865.-Colron and bacon tithes
Pay residue OF agricultural tax Of 1864
AS the taxes due in 1864 payable in per
cent. bonds, it is Important to know which taxes
are due this year. 1t is to be remarked that the
tithes OF corn are not SO payable. What taxes
are?
l. The property tax Of every sort, (tithes ex-
cepted); the tax on gold and silver plate, jeweIry
watches, &c; the tax on joint stock.
Query.-Will the 4. per cent. bonds pay the
taxes on coin, exchange, credits, bonds and
reucy? We think not. They to be paid in
kind.
2 The extra profit tax of 10 per cent, on pro
fits 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
for 1864, which are payable January l, 1865
We will now propose and answer few of the
most important or most perplexing questions con-
uected with these acts:
l. When is the tax on agricultural property to
be paid. BY section Con lst June 1864 or as
soon thereafter as practicable, the whole property
tax is to be paid. BY section 1-from the tax on
property employed in agriculture shall be deduc
ted the value of the tax in kind delivered therefor,
provided, that credit shall be allowed beyond
per cent We cannot think this language author.
ICES the construction which requires the planter to
pay the 5 per cent. tax in advance, and have the
values of the trhes refunded from time to time
The money tax is to be paid when ascertained.
The tax ls to be paid as soon after June ] prac-
ticable, "when tits ascertaIned what deduction"
is to be made from the per cent tax for the val
ue Of the tithe. The other construction is not
supported either by nature of the thing or the Ian
guage of the law. The law does not contemplate
retuuding'' but deduction the advance
ment of more than is due, but the payment of
residue. And it would be most inconveneIt
aud rigorous rule to require men to raise money,
at time of the yeat when planters have nothing
to sell, to be refunded by driblets in the fall.
The law would be alike inconvenient to tax, pay
ers and tax coll lectors.
Query-Coud planter pay his estimated def
cit (vlz: between the per cent tax and the ag-
gregate value of tthes, supposng the latter insult
cient,) 10 advance in the per cent bonds, or at
the close devery-which, for bacon and cotton,
might be 10 1865? Probably he could.
1t is an important fact that the tithes will be
valued in the new aud reduced currency and
therefore not 60 iar might be auticil ated,
Judging from this years valuation. Also, that the
4 per cent bonds do not help the tithe.
2 Is the tax gold and silver coin, exchange,
&C., to be paid IN kindf-i C., 8 per cent. of the
gold itself, &c.
The language seems studiously to imply THE: In
other sections the word "value" is employed-in
reference to gold and silver cnin &c the word
"amount"-"upon the amount of gold per cent
not of its value-it would seem-but of ITSELF
4 distinction made in Sd section seems to favor
this vew-lt being impossible to pay per ceLt
of the actual corpus OF money held abroad, the
tax is levied upon "the value" Of such money.
The seems to support the construction
WHY such Discrimination between Foreign ex-
change on the hand and money held abroad
on the other--as would tax the latter 20 times
high as the former? None, evidently. They are
both taxed alike. both in the section and
having like relations. The gold or exchange here
is to BE paid in gold or exchange The gold
abroad is to pay tax in Confederate money here
on its value here, while exchange be paid in
kind. Since the foreign gold itself cannot be
reached in kind the Sd section Of this seems
have been drawn with nice and exact referesee
to this distinction.
Query--Win four per cent. bonds pay these
taxes on gold silver, bullion, exchange. DO?
No-Not if the foregoing view is correct
The foregoing reasoning apphes to credits, cur
rency &c-the 'amount' of which, and not their
value is taxed--these, too, are payable in kind.
It will be troublesome matter with some Of them
for they are not properly dsvisable- still the ar.
gument seems dsoisive.