IZ nyo Conf Pam 12mo #63 DTlD2bDS3Y j$f^5 [House of Representatives, No. 285.] HOUSE OF REPRESENTATIVES, December 24, 1864 -Read first and second times, referred to Committee of Ways ojid Means, acd ordered to bo printed. [By Mr. Sexton. A "BTT.T. To be entitled An Act to lay a tax for rcvemie to provide for the common defence and carrying on of the Government of the Confederate Stafr- , 1 The. Co/icrrcss of thv Con fe.de rntf St at s of .finierica do enact ^ 2 That from nnd nffer llio fi rF< dny or Jnnnri '. ] '^^.r-)^ there shall 3 be levied oil tlic suI>j(m i^ i i:!\;= -'iMafter mentioned, 4 and collected from every person, copartnership, association or 5 corpoiati'iu li^ible tlserefor, tfixo^ as follows, to-^ •(. : 1 1. ^. pi.Mi llr>' \;- 2 every kind an.i description nut iiereii)aifcer exem[>ted or taxed 8 at a different rate, two for cent : Providtd, That fro n the tax 4 on the value of pioperty e 'ployed i?i ," '• •? •.''^•- -■ '".n bo de- 5 ducted the value of the tax in kind derived therefrom during 6 the same year, ay assessed under the law imposing it. and de- 7 levered to the Government, whether deiiveiv. . ....; 8 or afterwards, including the Ijacon, deiiverabic ali.Ui- and not 9 prior to the assessment of the tax on j)roporty employed iu 10 agriculture as aforesaid ; and the collection of the tax on such 11 property i^hall be suspended after assepsment, under the order 12 of the Secrf^tnr? of rhe Trr.n?urv. yntil the vain? of the tithe 13 to be dcdi;^ . ....;oitained, it 14 shall be the uurv ..,. ui-i x O:-. u^iii"terma:jicr to certif)', and of 15 the District Collector V deduct, the value of such tithe; Provided^ 16 That no credit on account of the tav in kind beyond two per 17 cent, sliall be allovvid. 1 11. On the value o^ -""! i - ^c '"••••^- -ations, associations 2 and joint stock companies of evoiy description, whether incor- 3 porated or not, shall be assessed and taxed in the same man- 4 ncr and to the same extent .'S the property and assets of indi- 5 viduals; the tax on such property and r,--:-:ols to [>c Mssof^.-^d against 6 and paid by such corporations '■""^ ; . ,^,j,; ..lun^s: Pro- 7 vid(d, That no biuik or banking couipany shall be liable to pay 8 a tax upon deposits of money to the credit of, and su]>ject to, 9 the checks of oiiioih.-: And provided further, That, as to banks 10 and banking companies, the tax h. -vidt-d for sliali l>e U assessed only against the sum of the cap'i.x! ond bui pius prolits 12 of each bank or banking company, and that a tax of twenty five 8 13 per cont. is hereby laid upon he notes of each bank or bank- 14 iv.g company which shall be pai 1 in specie and Treasury notes 15 of the Confederate States, the rpecie tax to be in the propor- IG tion that Hie specie lield by each ^ank or banking company 17 bears to tha sum o{" lis outstanding notes. And all bill holders 18 who Si^all present bank bills or no'cs to the bank from which 19 they were issued and moke afSdavit that said ".bank bills or 20 no^r-:^ w.^vo rni fl.i-. dr.v cS f^'o T'.'^-^>'ni^n of "this A!V:t, the property 21 of loyal citizen.; or aliens in aniit) w.l;?: the.'Jonfederate States, 22 shall pny a tax of five ])or cent, only fin3-in'thc same propor- 23 lion a? to speciii and Confederate '^'tates Treasttry notes as here- 24 inbefore proviucii. v^i.li j vjiui-^.i^-o i-) i-^-jko aiid banking com- 25 panics. 1 Sec. 3. I Upon the amount of all gold and silver coin, gold 2 dust, gold or sihx^r bulii-.n, moneys held abroad or bills of ex- 3 change drawn therefor, promissory notes, rights, credits and 4 securities payable in foreign countries, two per cent, to ho 5 paid in snecie or in Treasury notes of the Confederate States 6 at their value as compared vv^iih specie at the time the tax is 7 payable : the relative value of spec'e and Confederate States 8 Treasury notes for th^ parpos^s of payment under this Act, to 9 be fixed by regulations prescribed by the Secretary of /the 10 Treasury. 1 IL Upon the amount of all solvent credits, end all other paper 4 2 issued as currency, exclusive of Coufederate States Treaj^ury 3 notes and of hank bills and notes ta\-ed as provided in section 4 second of this &rt, two per cent. 1 Sec. 4. Upon profits made in trade a-d business as follows : 1 I, On all profits made by buying and selling spirituous liquors, 2 flour, wheat, corn, nee, sugar, molasses or ^yrup, salt, bacon, 3 pork, hogs, beef cr' beef cattle, bhecp, oats, hay, fodder, raw 4 hides, leather, hor?c?, niulc!:, boots, shoes, cotton 3 arns, wool, 5 woolen, c" i/i; '' ii-^xed elotlis hats, wagon^^. harnos-, coal, iron, 6 steel or nails, twenty-five per cent jwr annum. 1 II. On all prr^fits made by buying and selling money, gold, sil- 2 ver, foreign exchange, stocks, rotes, debts, credits or o'jligf:- 3 tions ol any kind, and anv u.erchandiso, proper y or effects of 4 any kind not enumerated in tlie preceding p:3ragraph, twenty- 5 tive per cent per anuuuj. 1 III. On ihc aniount of profits exceeding twenty-five per cent 2 made during any one year by any bank or banking company, 3 insurance, canal, navigation, importing and exporting, telegra 4 phic, exi^ress, railroad, manufacturing, dry dock, or other joint 5 stock company of any description whether incorporated or not, 6 or by ai;y person, C'">par[nership or associaiion engaged in any 7 business which would be taxable under this section if engaged 8 in or pursued b;. aj;y oi the companies herein above enumerated, 9 t\\ent}-hve pci' cei.t on such excess. 5 1 Sec. 5. Sections 6, 7, 8, 9 and 14 of an act entitled "An Act to 2 amend an act entitled ' An Act to lay taxes for the common de- 3 fence and carry on the government of the Confederate States/ 4 approved April 24th, 1863," approved February 17th, 1864, are 5 hereby repealed. ^ 1 Sec. 6. The taxes levied by this act, except as provided in the 2 first section thereof, with regard to the tax levied upon property 3 employed in agriculture, shall be due and payable on the 1st 4 day of June next, or as soon thereafter as practicable, and shall 5 be assessed and collected in accordance with ej isting laws pro- 6 viding for the assessment and coUection of taxes. 1 Sec. 7. The following exemptions from taxation under this act 2 shall be allowed, to wit : 1 I. Property of each head of a family to the value of fire liun- 2 dred dollars ; and for each minor child of the family to the fur- 3 ther value of one hundred dollars ; and for each son actually 4 engaged in the army or navy, or who has died or been killed in 5 the military or naval service, and who was a member of the 6 family when he entered the service, to the further value of five 7 hundred dollars. 1 II. Property of the widow of any officer, soldier, sailor or ma- 2 rine, who may have died or been killed in the military or naval 3 service, or where there is no widow, then of the family, being 4 minor children, to the value of one thousand dollars. 6 1 III Property of every officer, soldier, sailor or marine, actual- 2 ly engaged in the military or naval service, or of such as have 3 been disabled in such service, to the value of one thousand 4 dollars. Provided, Tliat the above exemptions ssall not apply to 5 any person whose property, exclusive of household furniture 6 shall be assessed at a value exceeding one thousand dollars. 1 IV. Where property has been injured or destroyed by the ene- 2 my, or the owner thereof has been temporarily deprived of the 3 use or occupancy thereof, or of the means of cultivating the 4 same, by reason of the presence or proximity of the CDemy, the 5 assessment on such property may be reduced in proportion to G the damage sustained by the owner, or the tax assessed thereon 7 may be reduced in the same ra^io bv the District Collector, on 8 satisfactory evidence submitted to liim by the owner or assessor. Hollinger Corp. pH8.5