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 [lloUSiL^OP iitPRESBNTATIVES— SecJJEP SkSH< N. 1 
 
 ^ IlEFRESENTATIVES, January 5, ISOM.-Oxclued 
 
 AMEXDMEXT BY MR. SWAN. 
 
 i yKCTio.v i. T/te Congress of the Conf derate Slates of /rmrua do 
 
 2 enact. Tint Toi tho year !.5 )4,an.l fn- ..!y.„ine years th3rea''ter. 
 
 3 there shall be levied an annual tax of five sixths of one per 
 
 4 centum. 
 
 1 Sr.c. 2. B it further cnaJed, That the value of real esta'e 
 
 2 -!i!]l ho asscssci under this act, as follows: If within five years 
 ^ • trom the date of the passago of this act real estate has been sold, 
 
 4 then its assessed value shall bo the price paid by the last 
 
 ^5 purchaser, if it has not been so soil, then it sh dl be assessed ai 
 
 6 its market value on 1st day of July, 1861). 
 
 1 Sec. 3. Be it further enacted. That the owner of real estate 
 
 2 may, on or before the 1st day of July, 136 i, pay to the tax 
 
 3 collector for his county, parish, or district, the tax hereby 
 
 4 levied, or at his option execute a bond, in such form as the 
 
 5 Secretary of the Treasury may direct, for the amount of said 
 
 6 tax, in which bond it shall be stipulated that it shall bo payable 
 
 7 on the 1st day of January, 1S9J; that i; shall bear interest at 
 
 8 the rate of six per centum per annum, payable semi-annually, en 
 
2 
 
 9 1st days of January and July of each year, and further, that 
 
 10 on the 1st day of January of each year, there shall be paid 
 
 11 one per centum as a sinking fund, "which sinking fund, so paid, 
 
 12 shall be held and deemed, Avhen said bond shall become due and 
 
 13 payable, to have fully paid and discharged the same. 
 
 1 Sec. 'J. Be it fa ther enacted, That for securing the payment 
 
 2 of the tax herein levied, or of the bond which, under this act, 
 
 3 may be executed for its payment, there is, oy virtue ©f this act, 
 
 4 created a lien upon all real estate herein taxed, in favor of the 
 6 Confederate States of America, superior to all other liens, 
 
 6 mortgages, or incumbrances of any kind whatever. 
 
 1 Sec 5. Be it further enacted, That if there be a failure on the 
 
 2 part of the owner until the 1st day of July, 1SG4, to report to 
 
 3 the proper assessor or collector his real estate for taxation, or to 
 
 4 pay said tax, or failing in that to execute the bond hereinbefore 
 
 5 in such cases required to be given, or when given to pay the 
 * G interest and sinking fund required by this act to be paid, at the 
 
 7 time payable, then said real estate, or so much thereof as may be 
 
 8 necessary to pay said bond, and the interest and sinking fund 
 
 9 ohall be sold at public sale to the highest bidder, after such notice 
 
 10 of the time and place of sale as is directed in such cases by the 
 
 1 1 laws of the State in which the real estate may be. The title 
 ii conveyed to the purchaser by the tax collector under any suck 
 13 gale shall be held by all courts to be valid and indefensible. 
 
1 Sec. 6. Be it further enacted^ That bonds executed by owners 
 
 "2 of real estate, as directed by this act, shall be deposited with the 
 
 3 Secretary of the Treasury, to be held or sold by him as he, iu 
 
 4 his discretion, may deem best. If sold, he shall endorse thereon 
 
 5 the guaranty of the Confederate States, that said bonds, together 
 
 6 with the accruing interest and sinking fund, shall be promptly 
 
 7 paid : Provided, Said bonds shall not be sold for less than theii 
 
 8 par value. 
 
 1 Sec. 7. Be it further etiacteJ, That whether the bonds remain 
 
 2 in the treasury or be sold, still the payment thereof, in whole or 
 
 3 in part, together with interest and sinking fund, shall be made 
 
 4 to the treasury, and the option is given to the obligor of the 
 
 5 bond, to pay the bond in whole or in part, at any time before the 
 
 6 same is due. If such payment be made, it shall stop after ac- 
 
 7 cruing interest and sinking fund upon the amount so paid. The 
 
 8 sum so paid, shall be credited to the holder of the bond, and no- 
 
 9 tice thereof, shall be published in two newspapers printed at the 
 10 capitoi. 
 
 1 Sec 8. Be it further enadedy That real estate taxed under and 
 
 2 by virtue of this act, shall not again be taxed for the payment of 
 
 3 any portion of the public debt now existing. 
 
 1 Sec. 9. The following Exemptions from taxations, under this 
 
 2 act, shall be allowed, to wit : 
 
 3 I. Real estate of each head of a family to the value of five hun- 
 
4 
 
 4 dred dollars, and for each minor cliild living in Vac fainilv to the 
 
 5 further value of one humlrtd dull us, :in I for c.ieii ^.hi ;;..'Lairiy 
 
 6 engaged in the army or navy, or wao has dijd oi* bocu killoil in 
 
 7 the military or naval service, and who was amcra^jer of the fuualv 
 
 8 when he entered the service, to the funli •/• vulaj of live ];u; 
 
 9 dollars. 
 
 lU II. Real estate of the widow of any ofii^cr. sol lior, 5;;:il;)!' or 
 
 11 marine, who may have died or been killed in llie military or i:;:vi;l 
 
 13 service, or where there is no widow, then of the family, bc^iiig 
 
 13 minor children, to the value of two thousand dollars, 
 
 14 III. Real estate of every officer, soldier, sailor orniaiin-^. l\c~ 
 lo tually engaged in the military or naval service, to the value <:f 
 
 16 two thousand dollars. 
 
 17 IV. The real estate of the States of the Conf;}dsr3cy. and of 
 
 18 municipal corporations held for publi"c purposes, and l\i(: . 
 
 19 estate of hospitals, apylum:^, churches and schools. 
 
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