1863 US INTERNAL REVENUE TAG FOR A COTTON BALE

1863 US INTERNAL REVENUE TAG FOR A COTTON BALE

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$250.00

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Item Code: 2026-9379

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A very scarce piece of ephemera! An original printed paper label for attachment to a bale of cotton by a small metal arrowhead prong attached by a twisted wire to a grommet at the top of the tag. This is complete and in excellent condition. The tag shows a dynamic US eagle clutching arrows and olive branch on a US shield with arcs of stars overhead, the motto E PLURIBUS UNUM, and three US flags. Overhead is printed, “UNITED STATES / INTERNAL / REVENUE” and underneath “COTTON” in large letters. At bottom in smaller print is, “Entered according to Act of Congress in the year 1863 by Porter Fitch in the Clerk’s office of the Dist. Court for the South. Dist. N.Y.”

Under an act of July 1, 1862, taxes were levied on raw cotton by the US government from fiscal year 1863 to its repeal in 1868 at rates varying between a half-cent to three cents per pound, with $68,072,388.99 collected in total, “and expended i in the usual course for the support of the Government and the payment of interest on the public debt.” We show the chart accompanying the official report in the listing, which shows the jump in revenue beginning in fiscal year 1866 as southern states were brought back into the fold, the taxes in part paying for the rebellion.   [sr][ph:m]

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