The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-10-04

An Act to lag additional tares for the common de-
fence and support Of the Government.

fence and support ofthe Government.
Sec. l. The Congress of the Confederate States
of America do enact That in addition to the taxes
levied by the lay taxes for the common de-
fence and to carry the Government of the Con-
federate States,'' approved Oath of April, 1868
there shall DC levied, from the passage of this act,
the sub ecs of taxation hereafter mentioned and
collected from every person. co-partnershp. 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 hereinaf
ter exempted taxed at 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 thererom,
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
ton shall be assessed on the basis of the market
value of the same similar property in the neigh
borhood where assessed in the year 1860. except in
cases whcrs land, slaves, cotton or tobacco have
been purchased since the LIST 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 ,. On the value Of all shares Or interests held
in any bank, banking company association. canal,
navigation, importing exporting, insurance, manu-
facturng telegraph express, railroad and dry dock
companies, and all other joint stock companies of
every kind, whether incorporated or 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 in the where assessed
in such currency may be in general 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 silver bullion, whether 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 foreign countries tax of five per cent;
such tax upon money abroad to be assessed and col
lected 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 as
rency, exclusive of interest bearing Confederate
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,
| as follows:
l. On all profits made by buying and selling spir-
ituous liquors. flour, wheat. corn, rice, sugar, mo-
asses syrup. salt, bacon, pork. hogs, beef
beef cattle, sheep. oats, hay. fodder, hides,
leather horses, mules. boots, Shoes, cotton yarns,
wool, wooden. cotton mixed cloths. hats. wagons,
harness. coal, iron. steel or nails, at any time be-
tween the lst of January 1868, and the st January
1865, ten per cent, in addition to the tax such
profits income under the 'act to lay taxes for the
common defence. and carry the Government of
the Confederate States, approved April 9th, 1863
IL. On all profits made by buying and selling
money gold silver foreign exchange, stocks, notes,
debts, CREDITS, or obligations of any kind and any
merchandise. property effects of any kind. not
enumerated in the preceding paragraph, between
the times named therein. ten per cent in addition
to the tax such profits as income, under the act
aforesaid.
III. On the amount of profits exceeding twenty
five per cent. made during either of the years 1868
and 1864 by any bank or banking company, insu-
rance, canal. navi cation, importing and exporting,
telegraph. express. railroad. manufacturing, dry
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:
I. 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 who has died or been killed in the mill
family when he entered the service. to the further
value of five hundred dollars.
III. Property of the widow of any officer soldier
sailor marine, who may have died been killed
in the military naval service, 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 naval
service of such as have been disabled in such SER
vice. to the value of one thousand dollars; provided
that the above exemptions shall not apply to any
nture, 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 tho or occupancy