Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-02-27
TEEE TAN LAW

The Revenue Law as passed by the
General Assembly, is as follows:
An act to sustain the credit Of, the State and to
amend the revenue laws Of the State, and for
other purposes.
Section /. BE it enacted by the Gen
eral Assembly of the State of Tennessee,
That from and after the passage of
this act all real estate other than such
as is property exempted from taxation
by section $40 of the Code; also
all personal properly to-wit Stations,
mares, geldings, mules, jacks, jennets,
neat cattle, sheep and hogs, exceeding in
value the sum of one thousand dollars;
also all moneys secured by mortgage or
deed of trust, money in actual or con-
structive possession, money due from
solvent debtors, whether by bond, bill
single, prOmissory notes or judgments;
also all articles of agreement for the pay
ment of money or accounts on solvent
parties, bearing interest, owned or pos
sesSed by any person or persons what
soever, except notes or bills for work and
labor done; also all shares of stock in any
bank, institution or company now or
hereafter incorporated by or in pursuance
of any law of this State, or of any other
State; and all public bonds or stocks
whatsoever, other than bonds of the
United States, which, by the laws of the
United States, are expressly exempt from
taxation; all incomes from bonds and
stocks which are exempted from taxation
by the laws of the United States or of the
State of Tennessee, and all money loaned
or invested at interest in this State,
or any other State or Government,
including money of orphans, lega-
tees and distributes, under twenty
one yeanS of age, where the re
spective amounts belonging to each lega-
tee or distributee are over 81 1000; also
all household and kitchen furniture, IN
Guiding gold and silver plate, owned by
any person or persons, corporation or cor
poratiOns, where the value thereof shall
exceed the sum of $500; also gold and
silver watches and jewelry, all pleasure
carriages and buggies of two or four
wheels, upon their actual value; all sala-
ries and emoluments or fees of office,
when the amount exceeds $500; together
with all other sources and property, real
and personal, now taxable by the laws of
this State, except what is exempted by
this act, shall be valued and assessed and
subject to taxation for all State and coun-
ty purposes.
Sec. 3. BE it further enacted, That
there shall be assessed and collected for
State purposes on the value of the prop
erty, enumerated above, and upon the
capital, as now defined by law, of all per-
| sons engaged in trade, whether as mer-
| chants, commission merchants, grocers,
| dealers in liquors, or other occupation
| looking to the purchase and sale of arti-
| cles for the use or benefit of the seller
| or buyer, the sum of twenty cents on the
one hundred dollars of said property and
capital of all persons engaged in trade, so
assessed and valued; and the several tax
collectors of the State shall receive, in
payment Of the tax so assessed and levied,
bank notes of the Bank of Tennessee,
not rendered void by the amended Con
stitution or laws of the State of Tennes-
see; coupons of the State of Tennessee,
due at the time offered in payment, on
the bonds of the State of Tennessee; war
rants on the Treasury legally outstanding
in the hands of the person TO whom ISSUED
and unpaid, gold aud silver, United States
legal tender notes, and National Banl
notes.
Sec. 3. BE il further enacted, Tha
hereafter no private act of incorporation
in this State shall have the force anC
effect of a law, unless the incorporation
or persons asking and requiring the SAM
shall have paid into the Treasury of tn
State the following sums:
On every charter of incorporation o
act extending or renewing the charter o
any bank, saving institution, safe deposi
= company insurance company, whethe
2 | fire, marine or life; iron, wood, manu-
) | featuring, mining, cotton, wool, ware
= ! housing. transportation or oil company
f railroad, telegraph, or steam vessel CON
pany, the sum of fifty dollars; and a
e other acts or charters of incorporation
I of whatever kind OF character, the SUI
5 Of twenty-five dollars, other than incol
T poIaiions relating to churches and schoo
S or charitable institutions, towns or cite
r Sec. 4. BE it further enacted, That IL
Comptroller of the Treasury, and ii
j. Treasurer of the State, out of the mono
q in the treasury, shall first pay and satisi
o all warrants issued for the purpose {
II paying the current expenses of the exec
II tive, judicial or legislative departments {
I, the State, and on account of borTowC
l money, borrowed to supply the pressiI
W demands on TIE Treasury; then out of q
er surplus in the treasury, pay and satist
er appropriations made to the Asylum {
or the Insane, the School for the Blind, al
re the School for the Deaf and Dumb, a