The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-08-23
TIE NEW TAX BILL.

fence and support Of the 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 common de-
fence and to carry on the Government of the Con-
federate States approved Oath of April 1868,
there shall De levied, from the passage of this act,
the sub ects of taxation hereafter mentioned and
collected from every person. co-partnership, Assoc
citation corporation liable thereto, taxes fol-
lows, to-wit:
|. Upon the value of property, real personal and
mixed, of every kind and description. not herenaf
ter exempted or 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 therefrom
as 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 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 or tobacco have
been purchased since the lst day of January, 1862,
III 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 interests held
IN any bank, banking company or association. canal
navigation, importing exporting, insurance, manu-
facturng telegraph express, railroad and dry dock
companies. and ali other Joint stock companies of
every kind, whether Incorporated not, five per
cent.
The value of property taxed under this section
shall be assessed upon the basis of the marke value
of such property in the where assessed
in such currency may be in general use there, in
the purchase and sale of such property, at tho time
of assessment.
Sec 3. |. Upon tho amount Of all gold and silver
con gold dust, gold silver bullion, whether held
by the banks other corporations 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.
H. Upon the amount Of all solvent credits and
of all bank bills and all other papers issued
rency. exclusive of non interest bearing Confederate
treasury notes. and not employed in a registered
business the income derived from which is taxed,
five per cent.
Sec L. Upon profits made in trade and business,
as follows:
l. On all profits made by buying and selling spr-
ltuous liquors, flour, wheat, corn, rice, sugar,
lassts 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 or nails, at any time be-
tween the LIST of January, 1868, and the LIST 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 on the Government of
the Confederate States approved April Oath, 1868.
III. On all profits made by buying and selling
money gold, silver foreign exchange, stocks. notes,
debts, credits, Or obligations of any kiud 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 income, under the act
aforesaid
I'll. On the amount Of profits exceeding twenty
five per cent made during either of the years 1868
and 1851, by any bank or banking company, insu-
rance, canal navigation, importing and exporting,
express, railroad, manufacturing. div
dock. other joint stock company of any descrip-
ton, whether incorporate not twenty five per
cent on such
Sec S. The following exemptions from taxation
under this act shall be allowed. to-wt
I. Property of each head Of family to the value
of five hundred dollars and for each minor child of
the family the further value of one hundred dol
lars; and for each son actually engaged in the army
or navy, who has died been killed in the mill
tary or naval service, and who was member of the
family when he entered the service, to the further
value of five hundred dollars.
H. Property of the widow Of any officer, soldier
sailor Or marine who may have died or been killed
in the military naval service where there is
no 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 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 1.
ceen temporarily deprived of the or occupancy