The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1868-03-25
ARTICLE v.
REVENUE AND TAXATION.

Section /. The General Assembly shall levy q
capitatitn tax on every male inhabitant OF the
State over twenty and under fifty years Of
age, which shall be equal on each, to the tax on
property valued at three hundred dollars in cash.
The Commissioners OF the several counties may
exempt from capitation tax in special cases, on
account oil poverty and infrmity, and the State
and county capitation tax combined, shall never
exceed two dollars on the head E
Sec. 2. The proceeds of the State and County
CAPT alton tax shall he applied TO the purposes of
education and the support OF the poor, but in no
one year shall moro than twenty-five per cent,
thereof, be appropriated to the latter purpose.
Sec. 8. Laws shall be passed taxing, by uni
form rule, all monies, credits, investments in
bonds, stocks, joint stock companies or other
wise; and, also, all real and personal property,
according to its true value in money. The Gen.
eral Assembly may also tax trades, professions,
franchises, and incomes, Koyided, That no in.
come shall be taxed when the property from which
the income Is derived, is taxed.
Sec. 4. The General Assembly shall, by appro-
pirate legislation and by adequate taxation, pro-
vide for the prompt and Regular payment OF tho
interest on the rublic debt, and after the year
1880, it shall lay a specific annual tax upon tho
real and personal property of the Stale, and the
sum thus realized shall be set apart as a sinking
fund, to be devoted to the payment OF the public
debt. -..t.
Sec. S. Until the bonds of the State shall be
at par, the General Assembly shall have no
power to contract any new debt or pccuniary OBJ
legation in behalf the State, except TO supply d
casual deficit, or for suppressing invasion or in-
surrection, unless it shall, in the same bill levy
especial tax to pay the interest annually. And the
General Assembly shall have no power to give or
lend the credit Of the State in aid Of any person,
association or Corporation, except TO aid in the
completion of such railroads as may be unfnish-
I'd at the time OF the adoption of this Consttu-
tion, or in which the State has direct pecuni-
ary interest, unless the subject he submitted to
direct vote of the people of the State, and be
approved by majority Of those who shall vote
thereon. t..r-e 1 ..r
Sec. G. Property belonging to the State, or to
municipal corporations, shall be exempt from
taxation. The General Assembly may exempt
cemeteries, and property held for educational,
scientific, literary, charitable, or religious pur-
poses also, wearing apparel, arms for muster,
household and kitchen furniture the mechanical
and agricultural implements of mechanics and
farmers, libraries and scientific instruments, to
u value of not exceeding three hundred dollars
Sec. T.. The taxes levied by the commission
ers Of the several countless for county purposes,
shall be levied in like manner with the State
taxes and shall never exceed the double Of the
State tax, except for special purposes, aud with
the special approval OF the General Assembly.
Sec. s.. Every act OF the General Assembly,
levying tax. shall state tho special object to
which it is to be applied, and 1t shall be applied
to no other purpose. sd l H.