Year: 1861

By au act of the Provisional Congress of the Confederate States, tax of fifty cents on each one hundred dollars worth of property, was levied on the citizens of the Confederate States, except on such citizens as do not possess taxable pro- perty to the amount of $500 co. The property subject to taxation by the act of Congress IS nearly similar to the kind of property made tax able by the laws of our State. The value of the taxable property upon which the Confederate tax is levied in Arkansas, will not fall short of one Hundred and t.oenty million of dollars, and the amount of tax to be paid will be at least sir hundred housand dollars. Taxation is greater this year, for State and county purposes, than 1t ever was before in Arkansas. The con- vention doubled the rate of State tax, and Tn many of the counties an additional tax has been imposed for the equipment of volunteers and the support of their families. Thus the State, county, and special taxes to be raised in this State the present year. ezctasire of the Co'Jed- crate tar will amount in all to at least million of dollars; as much as our people will be able to pay. The addition of the Confederate tax, amounting to six hundred thousand dollars more, will be burden that they will not be able to bear, no matter how patriotic and well-disposed they may be. The payment of one million, six aundred thousand dollars, in these difficult times, Is simply an impossibility, and its collection will bring great distress upon our people,

 We have plan by which the collection of the Confederate tax might be avoided entirely. The State of Arkansas has advanced about one mil ion of dollars to the Confederate government ,n account of the expenses of the war; This amount will be returned or refunded to her Tn Confederate bonds or treasury notes, which are receivable for Confederate taxes.

 Should, therefore, the State of Arkansas as. tune the six hundred thousand dollars of Con- ederate tax to be collected of of her citizens, he could readily liquidate the debt with the Confederate treasury notes she would receive rom the Confederate government, and thus re- eve her citizens of an onerous burden imposed these unpropitious times. And this is not all. sy the act of Congress levying the tax, if any itate shall pay it before the lst of April next, a iscount of ten per cent. will be allowed. By ssuming to pay the tax herself, and having ettlement with the Confederate government, nd drawing the amount due her on account of Ter advances, and ,hen paying it over before e he Ist day of April next, the State will save to Ter people ten per cent of the amount, or s'rty housand dollars.

 We invite the attention of the members of he General Assembly to this subject It is well ,orthy their most serious consideration. Ii the arrangement suggested can be effected, two i'm ,ortant objects will be gained-our people will e relieved of burdensome tax that they are liable just now to bear, and the State will ave the handsome sum of sixty thousand dol Ars.

 Another plan that we have heard suggested, nd that we think very objectionable, is to ap- ,ropriate the amount due the State from the Confederate government to the redemption ot ne war bonds issued by the State. This would ford no relief whatever to the people, but ,ave them to groan under the excessive taxa lon imposed. The war bonds are not due for aree years. Every step has been taken to se- ure the regular and prompt payment of the interest upon them, and over ffteen milton cres of land have been pledged for the pay nent of the principal. The war bonds, there fire, constitute perfectly safe investment, and will form a circulating medium throughout the State as good as gold and silver. Long before they are due the means set apart for their re- lemption will be ample to absorb and take up che last one outstanding.

 Why, then, should we wish to redeem them LOW, when to do so would place upon our people tax they are unable to bear? It is simply a ece of folly. Let us pay the Confederate states tax with the debt due the State from the Confederate States, and leave the war bonds to ,e liquidated by the means provided for that ,urpose. They already circulate freely through ut the State, and we predict that in less than year they will be in as great, if not greater, emand than gold and silver. Bonds 50 well ecured as they are can never fall below par, 1T become drug upon the market.

 This is a subject of the highest importance the people, and we hope to see it fully dis -ussed before the meeting of the general assem- 'ly next month.