Weekly Trinity journal., 1865-03-04

How IT WAS MADE Up-The publication OF the
assessment roll for income taxes in this CITY mas
attracted considerable attention, and the On'on
INDUCES in some pretty sharp remarks thereon'
We can only account for the revelations made by
the assessment roll in this manner: 1t was COM
parativey thing to most people, ana we
Judge from appearances that the great majority
in giving in their statements have confounded
g savings " with incomes, and interpreted
the latter to mean the former. That is to say :;
they have given income only the money they
managed to save during the year from all ousi-
ness operations, after paying all their family anu
personal expenses of whatever nature on no
other hypothesis can the so singular revelations
of the assessment roll be accounted for. Men
doing mercantile business have given IN their
income at 5000 and thereabouts. After deduct
ing 5000. as allowed by law, and say ito be very
lbcral) $500 for house rent for family that would
make their total income only Sl,70o per annum
The $500. 5000, 500, ETC., that they give IN
would hardly suffice to pay store-rent. lru'!;
they must have erred and given in saving instead
of income We see the names OF single men
down for 500 or $500 who are in receipt OF
regular salaries of over s., 600 per annum Now
deduct 5000 from their salaries, and S25 month
$500 vear-for room rent and 1t leaves their
incomes proper at over 81 200 per annum Yes,
these men must have mistaken their total savings
for their incomes. If such mistakes have not
been maue. ana All luCoiutS l'Nt PCVu gwen III
according to law, many dealers in this city are
running behindhand every month in the year,
for the incomes given in will not suffice to pay
store-rent.-Sdcrdmento Bee.
1t seems that throughout the State great mis-
understanding has existed in regard to that por
ton of the Revenue Law relating to Income tax,
and it is high time it was corrected. Every in
dividual is required to give in the actual amount
of income over and above necessary expenses paid
out in carrying on his legitimate business, from
all sources after this the special exemptions
allowed by law are deducted and credited to the
account in the nature of allowance or drawback
In the following the Grass Valley Union exem-
plifes the meaning of the law. Every person
should read it
- Suppose man takes up mining claim this
month, the prospecting of which in six months
costs him $500, and at the end of that time he
sells his interest for s., 900, and invests his
money in building fine house-has he not an
income in this year of 81 800, less the deductions
allowed by the law? The fact that he INFESTED
his income in real estate does not change its
nature-if next year he sells that house for So
000 his income then would not be the entire
price of the property, but only the profit he made
by the sale The Federal Government does not
tax the rdlue of a mans property, but does tax
the increase"
The @ revelations y are quite as singular in
| Trinity as in Sacramento county, Judging from
the statistics published last week.
DEPRESSION IN REBELDoM.-The Hcrald', Army
of the Potomac correspondent wrote under date
February 22d that the estimated strength of the
rebel army around Petersburg is thirty thousand.
The news Of Sherman successes in South Caro-
lima had become generally known in the rebel
army and caused feeling of universal depression.
The privates make no secret of their intentions
! to desert. Lee has placed heavy guard in his
rear to prevent them going back to their homes.
The descrterS confirm the statement that scige
guns have been removed from Petersburg and
carried TO some point in the of that city
Rebel officers openly express the opinion that
nothing can stop Sherman advance, and hence
/ = |. 4. 4,