GDG- First Bite

[Dennis Lawrence]

Friday, August 5, 1864.

Lincoln receives July salary warrant for $1,981.67, reduced $101.66 by 
income tax enacted June 30, 1864.

 >>>>>>>>>>>>>>>>>>>>>>
Monday Aug. 5 1861


The US Congress passed, and President Lincoln signed, a measure today which 
levied a direct tax on income, as well as real estate. Intended to go into 
effect Jan. 1, 1862, it subjected all incomes over $800 to a 3 percent tax 
rate. As the mechanisms to collect the tax did not yet exist, and amazingly 
few people sent the money in voluntarily, the tax was basically ignored. 
The bill also raised tariffs, issued new bonds, and permitted the 
enlistment of seamen for "the duration of the war" rather than a 
pre-specified time period.





Down goes Frazier! Down goes Frazier!  Down goes Frazier!