The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-03-14
Nov. /, l66.
THE NEW TAX BILL.


fence and support Of the Government.
Sec L. The Congress of the Confederate States
of America do enact, That i'll addition to the taxss
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,
the bjects of taxation hereafter mentioned and
collected from every person, o-partnership, asso
citation corporation liable thereto, taxes fol-
lows, wit:
|. Upon the value of property, real, personal and
mixed, of every kind and description, not herenaf
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 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 wares and
plate, jewels jewelry and watches, ten per cent
III. The value of property taxed under this sec
ton shall be assessed on the basis of the market
value of the similar property in the neigh
borhood where assessed in the year 1860. except in
wherS land, slaves, cotton tobacco have
been purchas since the Ist day of January, 1862,
in which the said land slaves, cotton and to-
bacco purchased, shall be assessed at the price
actually paid for the same by the
Sec 2. On the value Of all shares or interests held
in any bank, banking company or associations canal
navigation importing, exporting, insurance, manu-
featuring, telegraph. express, railroad and dry dock
companies. and all 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 the market value
of such property in the neigh borood where assessed
in such currency may be in general use 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, whe Their held
by the banks other corporations individuals
five per cent; and upon all moneys held abroad, or
upon the amount Of all bills of exchange. drawn
therefor on tosg countries tax of five per cent;
such tax upon money abroad to be assessed and col
lected according to the value thereof 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 non interest bearing Confederate
treasury notes, and no: employed in a 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. Hour, wheat. rice, sugar, mo-
lasses syrup, salt, bacon, pork. hogs, beef or
beef cattle, sheep. oats, hay, fodder, raw hides
leather, horses, mules. boots, Shoes, cotton warns,
WOOL wooden, cotton or mixed cloths. hats. wagons,
harness, COAL iron. steel or nails at any time be-
tween the LIST ofJanuary, 1868 and the 1st January
1865, ten per cent, in addition to the tax on such
profits income under the 'act to lay taxes for the
common defence. and carry the Government of
the approved A prll 21th, 1868.
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 in the preceding paragraph. between
the times named therein. ten per cent, in addition
to the tax such profits income, under the act
aforesaid.
III. On the amount of profits exceeding twentv
five per cent, made during either of The years 1861
and 1864 by any bank OF banking company, insu-
rance, canal nav gation. importing and export;tze.
dock or other joint stock company of any descrp-
ton, whether incorporate not, twenty-fy five Der
cent on such excess.
Sec 5. The following exemptions from taxatio,
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 one hundred dol
lars; and for each son actually engaged in the armv
navy, who has died or been killed in the mill;
tary naval service, and who was member of the
family when he entered the service to the furthar
value of five hundred dollars
II. Property of the widow of any officer soldier
sailor or marine who may have died been killed
in the military or 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 sar
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
niturc, shall be assessed at a value exceeding one
thousand dollars.
~. That where property has been injured or de-
'troyed by the enemy, the owner thereof has
,een temporarily deprived of the use or occupancy