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Entered acoording to Act of Congress, in the year 1863, by

GEO. W. CARLETON, in the Offioe of the Clerk of the District Court of the United States, for the Southern

District of New York.

JUN 11 1914

R. CRAIGHEAD,
Printer, Stereotyper, and Electrotyper,

Carton Building,
81, 83, and 85 Centre Street.

EXPLANATORY PREFACE.

Two internal Tax Laws have been passed by Congress. The first is known as the “ Direct Tax” Law; the other as the “ Excise Tax" Law.

The first act passed by Congress for levying a direct tax was passed August 5th, 1861. It prescribed a tax of twenty millions of dollars annually upon real estate, and an income tax upon all Incomes excee $800. It also increased the duties on certain imported articles, laid duties on many articles then exempt from duty, &c. The income tax was subsequently modified by Congress, so as to embrace all incomes over $600 a year. The tax of twenty millions was apportioned among the several States and Territories, and the Legislature of each loyal State assumed and undertook to pay the portion assigned to it.

As most of the loyal States were largely in advance to the General Government, for money furnished to pay the expenses of enlisting and equipping volunteers for the war, this tax was easily and satisfactorily adjusted, by offsetting the amount respectively apportioned to the several States, against the Government indebtedness, after deducting 15 per cent. from the tax.

Thus the only effect of this portion of the Direct Tax Law upon tax-payers was the assessment and collection of a small State Tax for 1862, in those states where there had previously been none, and an increase in the State Tax in others.

The twenty million tax, as it is called, was subsequently modified by Congress (July 1st, 1862,) so as to authorize the levy and collection of one tax to that amount; and to provide that no other tax should be levied under the act, until April 1st, 1865.

On the 7th of June, 1862, Congress passed an Act for the collection of direct taxes in insurrectionary districts. It is designed to carry out the provisions of the previous act of August 1861, and renders that act effective by authorizing the seizure and sale of lands, of persons engaged in rebellion against the Government.

As the operation of this law is a matter of minor interest to the people of the loyal states, it has not been thought necessary to embody the act itself in this work.

To supply the place of the suspended portion of the Direct Tax Law, the Excise Tax Law of July 1st, 1862, was passed.

According to the provisions of a subsequent act, it was to take effect July 21st, 1862, but in accordance with a notification from the Treasury Department, its practical operation was suspended until September 1st, 1862. The principal features of the cise Law, a complete summary

which is given in the following pages, are as follow:

It imposes a tax upon all spirits, ale, beer, porter, and other malt and fermented liquors, distilled or brewed since September 1st, 1862.

It requires license duties, varying in amount from 5 to 500 dollars, to be paid on certain trades or occupations.

It levies duties either specific or ad valorem, on manufactured articles; on carriages, yachts, billiard tables, and gold and silver plate; and on slaughtered cattle, hogs, and sheep.

It exacts a fixed percentage on the gross receipts of all railroads, steamboats, and ferry-boats; on the dividends and interest of railroad bonds, bank stocks, and on passports; on all incomes over $600; on the salaries of all officers and persons in the service of the United States; on the gross receipts of all advertisements, &c.

It requires a stamp duty to be paid upon all papers specified in Schedule "B," and upon all medicines and other proprietary articles mentioned in Schedule “C."

It also levies an ad valorem duty upon all legacies and distributive shares of personal property, &c., &c.

All the official decisions made by the late Commissioner of Internal Revenue, will be found under their appropriate bead.

The duties imposed upon licenses, spirits and malt liquors, manufactures, legal and other instruments, proprietary articles, &c., are given in tabular form, and will be found easy of reference,

The list of Assessors and Collectors is made up from the latest files, and may be relied on as correct.

The corrections, unavoidable in works of this character, are given in succinct form opposite the title-page.

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ORPHEUS C. KERR PAPERS.

A Second Series of the Kerr Papers. One of the wittiest and most laughable books ever printed. The public taken by storm with the exquisitely satirical military criticisms and laughable hits at everything and everybody political, literary, editorial, and military. Another thousand just ready, cloth bound. Price, $1.25.

N

EXBOPT

AMONG THE PINES.

By Edmund Kirke. The most graphic and truth-telling book which has ever been written of the South and Southern Society. "An intense and terrible interest attaches to some parts of the story, that gives it the attraction of a

highly wrought and powerful work of fiction.” Price, $1.00 cloth bound, or 75 cts. paper covers.

OLD
MERCHANTS of NEW YORK.

A very valuable and intensely interesting book; brimful of
Sketches, Anecdotes, and Incidents in the Lives of our New
York Merchant Princes. By Walter Barrett, Clerk. One
large elegant cloth vol. Price, $1.50.

ALDRICH'S POEMS.
A collection of the Poetical Works of Thomas Bailey Aldrich;
including "The Ballad of Babie Bell.” An exquisite little
volume, tinted paper, bound in blue and gold, with steel por-
trait. Price, $1.00.

*** l'hese books are sold by all first class Booksellers, and will be carefully
sent by mail, POSTAGE PREPAID, on receipt of prices, by
CARLETON, Publisher, New York,

413 Broadway, corner Lispenard Street.

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