CONGRESS PASSES THE FIRST INCOME TAX LAW (ugh!)
MORE MONEY NEEDED FOR THE WAR EFFORT!
The New York Herald
August 5, 1861
Congress passes the nation’s first income tax bill, which was signed into law by President Abraham Lincoln the date of this issue. Among other provisions, the bill imposed a 3% tax on income over $800, to go into effect January 1, 1862. Page two contains the complete text of this important act to raise funding for the Civil War effort against the Confederate States. This issue also has plenty of war news–for me it’s like an historical treasure hunt through the pages!
Eight pages, fine condition. Light stain under masthead that is nowhere as noticeable as the scan. First time we’ve had this important newspaper.
$285
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