The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1864-06-29

lows: Upon the amount OF all gold and sill
yer coin, gold dust. gold or silver bullion,
moneys held abroad, or bills of exchange
drawn therefor, promisory notes, rights,
credits, and securities, payable in foreign
countries, five per cent. to be paid 10 spe
c'e. or Confederate treasury notes, at their
value, as compared with specie at the time
the tax is payable; the relative value of
specie and Confederate treasury notes, for
The purpose Of payment under this act, 10
be fixed by regulations 10 be prescribed By
the Commissioner "f Taxes, under the di-
rectlon ot the Secretary Of the Treasury.
SIC. 4. That section sixteen, Of the
Act TO amend an act entitled An act TO
lay taxes for the common defence, and car
~ On the Government OF the Confederate
States, approved 18th February, 1861
be, and ths same is hereby, amended, 50 as
10 read as follows:
!. The income. property and money,
other than Confederate treasury notes, Of
hospitals, asylums, churches. schools, col
leges and other charitable institutions,
shal be exempted fr"m taxation under the
provisions Of this act, or any other law.
The property nf companies formed under
the act entitled An act % establish a
volunteer navy" shall be exempt from tax
atien, except on the income.
II. That paragraph six, section seven, Of
The same att, be and The same i hereby
amended by adding thereto, as follows:
fany person shall fail 10 make due re.
turn, as required hy said section. of The in
come or profits taxed under any law Of
Congress, or 10 case of disagreement with
the assessor, 10 submit the same to referees,
as provided by law, or shall fail or refuse
TO paw the Tax thereon. within such time a.
shall be prescribed by public notice, br
the district collector, under the direction
nf the Commissioner Of Taxes, such person
shall be deemed aud held 10 be in default:
Provided. That such person shall not be
deemed and held 20 be in defauh, who mar
/ fail. or has failed 10 make payment. or due
returus in consequence Of the presence or
interference Of the enemy, or the absence
Or neglect ot the officers charged with the
assessment aud collection Of taxe.."
SIC. 5. That this act shall not be so con-
strued as 10 subject 10 taxation, corn, ba-
con. and other agricultural products, which
were preduced IN the year 1868. and in the
possession Of the producer on the 18th Feb
ruary. 1864. and necessary for the support
of himsef and family during the present
year, and from or on which taxes N kind
have been deducted and delivered or paid.
Sic. 6. That section four. paragraphs
one and two. Of the act approved February
II, 1864. entitled .An act TO levy addi-
tlonal taxes for the common defence and
ssppurt Of the Government BE- so amend
ed ~ 70 levy m additional tax Of thirty per
cent. upon the amount Of all profits made
BY selling the articles mentioned in the
said paragraphs. between The l7th day Of
February. 1864, and the FIRST day Of July
next, which additional tar shall be collect
ed under said act.
SIC. Z. That on all treasury notes Of the
old issue, Of the denomination Of five dol
lars, not exchanged for new issue prior 10
the lst day Of January. 1865. and which
may remain outstanding on that day, tax
d one hundred per cent. is hereby impos
ed.
Sgc. &. That sectica seven Of an act en-.
titled An act 70 levy additional taxes for
the common defence and support Of The
Government" approved 18th February.
1864. be. and the same ishereby, repealed,
and The following inserted in lieu thereof;
l. That the frst section of the "Act 10
lay taxes for the common defence and 70
carry on the Government Of the Confede-
rate States approved cath April. 1863. il
suspended for the year 1864.
III. In all cases where tar 10 levied on
income derived from property, real, per.
sonal and mixed. Of every description. on
the amount or value Of which an ad palorem
tax is LAID. the ad ralorsm tax shall be de-
Quoted from the income tax: Provided,
That in no case shall less be paid than the