Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-02-26
State Taxes.


From the Nashville Union and
American of Wednesday we learn
that the Senate bill to sustain the
credit of the State and amend the
revenue laws was discussed at cOnsid-
cradle length and amended so as to
nix h rate Of taxation at twenty
cents instead of thirty cents on the
hundred dollars Of taxable p~ropertv.
and then passed on its third reading.
ayes 80, noes d IS It IS probable
the Seuate will agree to The amend
ments made by the House, the pro-
visions of this BILL leone important
to prOperty-hOlders. 1t provides that
all real estate, other than such as Is
held in trust for religious and school
purposes; also, all horses, mules, cat
tie and hogs, exceeding $1,000 in
value; also, money in actual or
constructive possession, all moneys
secured By mortgages OF deeds
Of trust, and money due from
solvent debtors; also, all articles
or agreement and accounts bearing
interest, except notes OF bills for work
and labor done; also, all shares Of
stock in any bank, institution or COM
pany Incorporated by this State, and
ali public bonds or stocks whatever.
other than bonds of the United States,
and all money loaned or invested at
interest in this State or any other
State Dr. Government; also, household
furniture, including gold and silver
plate, gold and silver watches and
jewelry, exceeding in value $500. also
all pleasure carriages, all salaries ami
emOluments Of office above S500. To-
gether with all other sources ami
property and things now taxable nv
the laws of this State. shall h
valued and assessed and subject tn
taxation for all State and county
purposes. The rate of taxation is
liked at twenty cents On the hundred
dollars Tax-cOliectOrs are authorized
to receive in payment Of the tax so
imposed, notes Of the Bari of Ten
nesSee, not declared void bv the
amended Constitution of the State.
warrants on the Treasury Of the State,
as well as greeDbacks and specie. IL
is also provided, that hereafter no pri-
vate act OF incorporation shall have
the force and effect Of law, unless the
incOrpOratOrs shall have paid into the
Treasury of the State the follow
ing sums: On every charter of
corporation or act extending OF ~
neWing the charter of any bank, saw
ings institution, safe deposit COMPANY.
Insurance company, whether fire or
life ;irOn, wood, manufacturing mining
cotton, wool, warehOusing, Transport
ing or oil company, railroad. teIa-
graph, or steam vessel COMPANY the
sum of one hundred dollars; and an
other acts or charters Of i-ncorDora-
ton, OF whatever kind of character
other than interpretations reIatjzO IN
churches and schools, or Charitable
purposes, the sum of fifty dollars Il
is also provided that the ComDtroIler
and Treasurer, out of the money in
the treasury, shall pay all warrants
issued Tor the purpose Of paying the
current expenses of the executive, ju-
dielal, and legislative departments Of
the State, and on account of money
borrowed to supply the pressing de-
mands on the treasury then out of
the surplus in the treasury, paw
appropriations made to the
Asylum for the Insane, the School for
the Blind, and the School for the Deaf
and Dumb, and the amount due COM
moi schools; then to the satisfaction
OF coupons on n bonds issued direct
ly for the benefit Ofthe State, and such
bonds as are now due and falling due.
known as the State debt proper; and
the remainder, whenever the sum
amounts to $780, 900 pro rata toward
the satisfaction of past-due coupons on
the bonds of the State of any series
issued for the purpose Of internal i'm
prOyements. The provisions Of the
bill are made to apply to the assess
ments for 1876.