Duke University Libraries Amendment propo Conf Pam #272 A-MENDMENT Proposed by the Senate to the Bill ( U. R. 379) to levy additional taxes for the year eij^hteen hundred and sixty-five, for the support of the i^overnment. Strike out all after enacting clause and insert as follows : 1 That in addition to the taxes levied by the Act approved B'eb- 2 ruary 17, 18(i4, entitled "An Act to amend an Act entitled an 3 Act to levy taxes for the common defence and carry on the gov- 4 ernmeut of the Confederate States," approved t24th April, 1863, 5 there shall be levied for the year 1805, on the subjects of taxa- G tion hereinafter mentioned, and collected from every person, co- 7 partnership, association or corpojation liable thereto, taxes as 8 follows, to-wit : 1 I. Upon the value of all property— real, personal or mixed, 2 of every kind and description not hereinafter exempted or tax- 3 ed at a different rate, cue-fourth of one per cent. The value of 4 the property taxed under this section shall be assessed on the 5 basis of the market value of the same or similar property of 6 the neighborhood where assessed, in the year eighteen hundred 7 and sixty; and it is hereby declared that all the property and 8 assets of corporations, associations or joint stock companies, 9 whether incorporated or not, shall be assessed and taxed in the 10 same manner and to the same extent as the property and assets 1 1 of individuals. The tax on such property and assets to be as- 12 sessed against and paid by such corporations, associations or 13 joint stock companies : Provided, That no bank or banking com- 2 14 pany shall be liable to pay a tax on deposits of money to the 15 credit of, and subject to the checks of others: and provided far- IG ther, That the stock or shares representing property or assets 17 in corporations, associations or joint stock companies shall not 18 be assessed or taxed as property under this act: but the divi- 19 dends derived therefrom shall be subject to be taxed as income 20 under existing laws. 1 JI. Upon the amount of all gold or silver coin, and upon the 2 amount of all moneys held abroad or bills of exchange drawn 3 therefor, promissory notes, rights, credits and securities, paya- 4 ble in foreign countries, and upon the value of all gold dust or 5 gold and silver bullion, valued in specie, one per cent ; and up- 6 on the value of gold and silver wares, plate, jewels, jewelry and 7 watches, valued on the basis of the value of such property in 8 the year eighteen hundred and sixty, one-half of one per cent. 1 111. Upon the amount of all moneys except those mentioned 2 in paragraph two, bank bills, treasury notes and other paper 3 issued as currency, on hand or on deposit on the day of the ap- 4 proval of this act, two per cent. 1 IV. Upon the amount of all solvent credits, except those 2 mentioned in paragraph two, two per cent. : Provided^ That all 3 the stocks and bonds issued by the Confederate States or by 4 aay State, and all loans to the government of the Confederate 5 States shall be exempt from taxation, except as to the interest 6 payable thereon, which shall be taxed as income under exist- 7 inglaws: Provided further, That the interest^ on the bonds, 8 stocks or obligations of the Confederate States, or of any 9 State, shall not be taxed as income in cases where the acts un- 10 der which they were issued contain a stipulation that the inter- 11 est thereon shall be exempt from taxation. 1 V. Upon profits made by buying and selling merchandise, ef- 2 fects or property of any description, or money, gold, silver, 3 stocks, credits or obligations of any kind, at any time between 4 January 1st, 1865, and January Ist, 1866, ten per cent in addi- 5 tion to the tax on such profits as income ; said profits to be as- 6 certained by the difference between the price paid in Confeder- 7 ate Treasury notes, including all costs and charges, and the 8 price realized in the same currency ; Provided, That if the ob- 9 jects of sale were purchased at any time since January 1st, 1863, 10 this additional tax shall attach' on the profits realized on the 11 sale thereof during the year 1865. 1 VI. Upon the amount of profits exceeding twenty-five per 2 cent., made during the year 1865 by any bank or banking com- 3 pany, in surance, canal, navigation, importing or exporting, tel- 4 egraph, express, railroad, manufacturing, mining, dry dock or 5 other joint stock companies of any description, whether incorpo- 6 rated or not, twenty-five per cent. : Provided, That this tax shall 7 apply to individuals and partnerships engaged in trade, or in any 8 business or employmeut enumerated in this paragraph, as well 9 as to corporations or joint stock companies : Provided further, 10 That individuals and partnerships who have not been assessed, 11 or have not paid for the year 1864, the tax imposed on the ex- 12 cess of profits over twenty-five percent, for that year, shall be as- 4 13 sessed and required to pay, during the year 18G5, twenty-five 14 per cent, tax on the excesj of profits over twenty-five per cent., 15 realized during the year 18(54. 1 Sec 2. That the property, the income and moneys of hospitals, 2 asylums, churches, schools, colleges and charitable institutions, 3 shall be exempt from taxation under the provisions of this Act, 4 or any other law. All property within the lines of the enemy 5 shall be exempt from taxation so long as it remains within such 6 lines; but any income derived therefrom shall be taxed as income 7 under existing laws. The exemptions enumerated in paragraphs 8 one, two and three of section five of the Act entitled "An Act 9 to levy additional taxes for the common defence and support of 10 the government,*' approved 17th February, 1864, are hereby re- 1 1 enacted. Household furniture, where the value does not exceed 12 three hundred dollars, on the basis of the value thereof in the 13 year 1860, wearing apparel, goods manufactured by any person 14 for the use and consumption of his family, including slaves, poul- 15 try, fruit and the products of gardens, when said poultry, fruit 16 and products are raised for the family of the producer, and not 17 for sale. Corn,bacon and other agricultural products, which were 18 produced in the year 1864, and necessary for the tax-payer's fam- 19 ily, including slaves during the present year, and in his posses- 20 sion on the day of the approval of this Act, shall be exempt 21 from taxation. 1 Sec. 3. That when property, real or personal, has been injured or 2 destroyed by the enemy, or the owner thereof has been temporari- 5 3 \j deprived of the use thereof, or, in the case of real estate, of 4 the means of cultivating the same, by reason of the possession 5 or proximity of the enemy, the assessment on such property may 6 be reduced in proportion to the damage sustained by the 7 owner, or the tax assessed thereon may be reduced in the samo 8 ratio by the district collector, on satisfactory evidence submit- 9 ted to him by the owner or assessor : Provided, That the lami- 10 lies of soldiers in the army, and those soldiers discharged or 11 retired from active service in the field on account of physical 12 disability, and whose families are composed entirely of white 13 members, whose farms are cultivated byUheir families, shall not 14 be liable to any tax in kind. 1 Sec. 4. That the taxes on property for the year 1865, imposed 2 by this Act, shall be assessed as on the day of the approval of this 3 Act, and be due and collected on the first day of June next, or as 4 soon thereafter as practicable. The additional taxes on profits 5 for the year 1865, shall be assessed and collected^ according to 6 the provisions of existing laws in regard to tlie assessment and 7 collection of taxes on income. 1 Sec 5. That the taxes levied by paragraphs one and two of 2 the first section of this Act, shall be paid in Confederate States 3 Treasury notes of the new issue, and certificates of indebtcd- 4 ness authorized by the Act entitled "An Act to reduce the cur- 5 rency and to authorize a new issue of notes and l)onds," ap- 6 proved 17th February, 1864 ; but said Treasury notes and certi- 7 ficates shall be received by the collectors in payment of said r; 8 taxes only at their market value in specie, to be ascertained, as- 9 sessed and declared from time to time as hereinafter mentioned: lO Provided, That at least one-half of said taxes shall be paid in U Treasury notes ; and it is hereby enacted that the certificates 12 of indebtedness, authorized by the said Act of l7th February, 13 1864, may be iesued for debts contracted prior to the passage of 14 said Act, and that the agent of the Treasury for the Trans-Mis* 15 sissippi Department be, and he is hereby authorized to issue un- IG der regulations to be prescribed by the Secretary of the Treas- 17 ury, the certificates of indebtedness provided for in said Act of 18 17th February, 1864, for debts contracted in the Trans-Missis- 19 sippi Department prior or subsequent to the passage of said Act 20 of 17th February, 1864, and that all the certificates above men- 2 1 tioned shall be received in payment of said taxes at their mar- 22 ket value in specie as aforesaid ; subject, however, to the con- 23 dition above mentioned, that one-half of said taxes are to be paid 24 in Treasury notes. 1 Sec. 6. That the taxes mentioned in paragraphs three, four, 2 five and six of section one of this Act, and all the money taxes 3 imposed by the Act of 17th February, 1864, entitled "An Act 4 to amend an Act entitled an Act lo lay taxes for the common 5 defence and carry on the government of the Confederate States," approved April 24, 1803, shall be paid in Confederate States 7 Treasury notes of the new issue, only at par. 1 Sec. 7. That the State collector of taxes of each State shall, 2 immediately after the passage of this Act, appoint three discreet 3 persons in each congressional district in liis Sfate, who shall 7 4 take and subscribe an oath before some officer awthorizcd to ad- 5 minister the same, for tl.e true and faithful performance of their 6 duties under this Act, (which oath shall be deposited with such 7 collector,) and who shall meet on the fifih day preceding the first 8 day of June next, at such places in their district as thcv or any two of them may agree upon, and shall ascertain and declare 10 the market value in specie of Ucnfederate Treasury notes 1 1 and certificates of indebtedness, and shall immediately make out 12 a written declaration of the same, and transmit a copy of the 13 same to the collector of osch county, parish or district in their H congressional district, and also a copy to the State collector on 15 or before the first day of June; and thereafter said persons 16 shall, on the fifth day before the expiration of each succeeding 17 month, again meet and a'^certain and declare the values afore- 1 8 said, and make out and transmit copies of the same as aforesaid, 19 and the values so ascertained and declared shall be the rate at 20 which the said evidences of government indebtedness and Treas- 21 nry notes shall be receivable by collectors in payment of taxes 22 during the month immediately succeeding such declaration : 23 Provided, 'I'hat the Governor of any State may appoint one of 24 the thrife persons in each congressional district as above men- 25 tioned, in case he make such appointment on or before the 1st 26 day of May next. 1 Sec. 8. That the Act approved l7th February, 1864, enti- 2 tied "An Act to lay additional taxes for the common defence 8 3 and support of the government," in so far as the same can Ue 4 construed as imposing taxes for the year 1865, or any other 5 than the year 1864, is hereby repealed. pH8.5