fam t #4>0 Duke University Libraries A bill to be en Conf Pam 12mo #60 >V. a. ^ y v ■ArtstseJ <*K* ("teJujj oJn+*j ?j*?i . [House of Representatives — Sf.cret Session.] HOUSE OF LtEPR] {.— Readfirst and second tin • rinted, and made special oj | l'\ Mi )m Special Committee on Currency.] A. BILL 'I'o be entitled an Act to levy additional taxes for the common de- fence and support of the Government. 1 Skction 1 . T/ie Congress of the Confederate States of America do 2 enact. That, in addition to the taxes levied by the " Act to lay 3 taxes for the common defense and to carry on the Government of I the Confedera 3," approved lere shall .') be levied, from th i taxation. »i hereafter mentioned and collected from every person, co-partner- 7 ahip, associ or corporation, liable therefor, 4 follows, 8 to wit : J) I. Upon the value of pi real, personal and mixed, of III every kind and description, not hereinafter exempted or taxed at 11 a different rate, five per cent: Provided, That from this tax on the 12 viilue of property employed in agriculture shall be deducted, the 13 value of the tax in kind derived therefrom, as assessed under 2 14 the law imposing it, and delivered to the Gorernment, but this 15 deduction shall not reduce the tax on the value of the property 1G below three per cent. 17 II. On the . id plate, jewels, 18 jewelry, and watches, ten per cent. 19 III. The value of property taxed under this section shall be 20 assessed on the basis of the market value of the same or similar 21 property in the neighborhood where assessed, in the year 22 eighteen hundred and sixty. 1 Sec. 2. I. On the value of wheat, flour, corn, rice, sugar, 3 molasses or syrup, salt, bacon, pork, hogs, beef or beef cattle. 3 sheep, oats, hay, fodder, raw hides, leather, woolen, cotton or 4 mixed cloths, hats, waggons, harness, coal, iron, steel or nails, 5 held or owned by any other than the producer, raiser, grower or G manufacturer and not being necessary and intended for family 7 use or consumption during the year 1864, twenty per cent. : 8 Provided, That this tax shall not apply to property acquired and 9 held in the due course of a registered business and for sale in therein. 11 II On the value of all cotton, tobacco and naval stores, twenty 12 per cent. 13 III. On the value of all shares or interests held in any bank, 14 banking company or association, canal navigation, importing and 15 porting, insurance, manufacturing, telegraph, express, railroad 16 and dry dock companies, and all other joint stock companie 17 every kind, whether incorporated or not, five per cent. 18 IV. The value of property taxed under this section, shall be 10 assessed, upon the basis of the market value of such pi 80 the neighborhood where assessed, in such currency as may be 21 in general use there, in the purchase and sale of such property, 22 at the time of assessment. 1 Sec. 3. I. Upon the amount of all gold and silver coin, five 2 per cent., to be assessed and collected in kind. 3 II. Chi the amount of all credits of value, and of all bank bills, 4 bonds and treasury notes of the Confederate States, and of all 5 other paper used as currency, five per cent. G III. On the aggregate amount of all debts, exceeding five 7 hundred dollars, contracted prior to the first of January eigtheen 8 hundred and sixty-one, and paid with treasury notes or bonds of !) the Confederate States at par, between the 1st of July, 1862, 10 and the 1st of April, 1863, to be assessed against the party who 1 1 so owned and paid such debts, ten per cent. 12 IV. On the aggregate amount of all debts exceeding five 13 hundred dollars, contracted prior to the 1st of January, 1861, 14 and paid between the 1st of April, 1863, and the passage of this 15 act, to be assessed against the party who so owed and paid such 16 debts, twenty per cent. 1 Sec 4. Upon profits made in trade and business, as follows : 2 I. On all profits made by buyiug and selling Hour, wheat, corn, 3 rice, sugar, molasses or syrup, salt, bacon, pork, nogs, beef or I beef cattle, sheep, o;; fodder., raw hides, leather, woolen, 5 cotton or mixed cloths, hai . iron, steel or 6 nails, at any time between the 1st of January, 1862, and the 1st 7 of May, 1864, thirty-three and one-third per cent. 8 II. In all profits made by buying and selling any merchandize, 9 property, or effects of any kind not enumerated in the preceding Id paragraph, between the times named therein, twenty per cent. 11 III. On the amount of profiits exceeding twenty-five per cent. 12 made daring either of the years 1862, 1803 and 1S64, by any I 13 bank or banking company, insurance, canal, navigation, import- 14 ing and exporting, telegraph, express, railroad, manufacturing, \o dry dock, or other joint stock company of any description, whether 16 incorporated or not, twenty-five per cent, on such excess. 17 IV. From the taxes imposed on profits under this section, 18 shall be deducted the amount of tax on incomes assessed and col- 19 lected on such profits, under the act, to which this is additional, 20 of the 24th of April, 1SG3. 1 Sec. 5. The taxation of certain articles of property at a higher 2 rate when held or owned by other than the producer, grocer or J manufacturer, shall not be construed to relieve such property 4 from the tax of twenty-five per cent, on ics value, when held or 5 owned by the producer, grocer or manufacturer. 1 Sec. 6. The following exemptions i'voui taxations, under this 2 act, shall be allowed, to wit : 3 I. Property of each head of a family to the value of five hun- 4 dred dollars, and for each minor child living in the family to the o further value of one hundred dollars, and for each son actually G engaged in the army or navy, or who has died or been killed in 7 the military or naval service, and avIio was a member of the family 8 when he entered the service, to the further value of five hundred 9 dollars. 10 II. Property of the widow of any officer, soldier, sailor or 11 marine, who may have died or been killed in the military or naval 12 service, or where there is no widow, then of the family, being 13 minor children, to the value of two thousand dollars. 14 III. Property of every officer, soldier, sailor or marine, ac- 15 tually engaged in the military or naval service, to the value of 1 6 two thousand dollars. 1 7 IV. The property of the States of the Confederacy, and of mu- 18 nicipal corporations held for public purposes, and the property } 19 incomes and money of hospitals, asylums, churches, schools, 80 academies and colleges. 1 Sec. 7. The taxes laid for the year 1864 shall be deemed due 2 from the passage of this act, and be assessed and collected by the 3 1st of May next, or as soon after as practicable, allowing an ex- ^4 tension of sixty days west of the Mississippi river, except such (i 5 as may accrue on incomes and profits after that time, which shall 6 be due and payable after the 31st of December next. 1 Sf.c. 8. So much of the tax act of the 24th of April, 1563, as 2 levies a tax on incomes derived from property or effects on which S an ad valorem tax is levid by this act, and also the first section of 4 said act, are suspended for the year 1864. '/¥ V~u. Hollinger Corp. pH8.5