The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-05-10
TEE NEW TAX BILL,

An Act to lag additional taxes for the common de-
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 'act to lay taxes for the de-
fence and to carry on the Government of the Con-
federate States,' approved Oath of April, 1868
there shall be levied, from the passage of this act,
on the sub ects of taxation hereafter menoned 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 hereinaf
ter exempted taxed 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 fax 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.
HI. The value of property taxed under this sec
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
cases wherS land, slaves, cotton or tobacco have
been purchased since the 1st day of January, 1862,
in which the said land, slaves, cotton and to-
bacco purchased, shah be assessed at the price
actually paid for the by the owner.
Sec 2. On the value of all shares interests held
III any bank. banking company or association, canal,
navigation, importing, exporting, insurance, manu-
tacturng 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 in the neighborhood where assessed
III such currency may be in general use there, in
the purchase and sale of such property, the time
of assessment.
Sec 3. l. Upon the amount Of all gold and silver
coin, gold dust, gold or silver bullion, whether held
by the banks OF other corporations or individuals
Dpr cen and rOo all M hal or
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 ana col
iectcG according the. value thereof at the place
where the tax is paid.
II. Upon the amount of all solvent credits. and
OF all bank bills, and all other papers issued cur
rency, exclusive of interest bearing Confede
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
|. On all profits made by buying and selling spir-
ituous liquors flour, wheat, corn, rice, sugar mo-
lassos or syrup. salt, bacon, pork. hogs, beef or
beet cattle, sheep. oats, hay. fodder, hides,
leather horses, mules. boots, Shoes, cotton yarns.
wool, woolen, cotton or mixed cloths, hats, wagons,
harness. coal, iron. steel nails at any time be-
tween the lst of january 1868 and the st January
1865, ten per cent, in addition to the tax on such
pr"hts as income under the 'act to lay taxes for the
common defence. and carry the Government of
tie ConI'derate States, approved April 24th 1863
II. 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 III the preceding paragraph, between
the times named therein. ten per cent, in addition
to the tax on such profits income, under the act
aforesaid.
III. On the amount of profits exceeding twenty
five per cent, made during either of the years 1863
and 1864. by any bank or banking company, insu-
rance, canal, navigation, importing and exporting,
telegraph. express. railroad manufacturing. Cry
dock. or other joint stock company of any descrip-
tion whether incorporate or not, twenty five per
cent such
Sec D. 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 hundred dol
lars; and for each actually engaged in the army
or navy. or who has died OF been killed in the mill
tary naval service. and who was 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 or marine. who may have died or been killed
in the military or 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 or naval
service. Of such have been disabled in such SER
vice. to the value of one thousand dollars; provided
that the above exemptions shall not apply to any
person, whose property. exclusive of household fur
niture, 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