A POLL-TAX is a specific sum assessed on male citizens over 21 years of age. Each person so taxed is called a poll.

REM. In some States the whole tax is raised on property; in other States, partly on property and partly on polls.

ART. 250. When a tax is to be assessed, first obtain a list or inventory of the amount of taxable property, from which the tax is to be collected.

If there be a poll-tax, make a list of the polls.

TO ASSESS A TAX, OBSERVE THIS

Rule.-1. If there be a poll-tax, find its amount, by multiplying the tax on each poll by the number of polls. Subtract this from the whole amount of tax to be raised; the remainder will be the sum to be raised on property.

2. Divide the tax to be raised on property by the whole amount of property; the quotient will be the per cent. of tax on $1.

3. Multiply the per cent. of tax on $1 by the amount of each person's property, the product will be his property tax.

4. Add the poll-tax, if any, of each person to his property the sum will be his whole tax.

tax;

1. A tax of $500 is assessed in a district, to build a school-house; the property is valued at $125000: what the % of tax? Ans. .004, or 4 m. on $1.

What the tax on $1650?

Ans. $6.60

2. A tax of $9057.60 is assessed in a county whose taxable property is valued at $534650; also, a list of 1258 polls, each taxed $1.25: what the % of tax on property? Ans. .014, or 1 c. 4m. on $1.

NOTE. In preparing tax lists, after finding the per cent. of tax, assessors make a table embracing the tax on dollars from 1 to 10; then on 10, 20, &c., to $100; then on 100, 200, &c., to $1000.

The following table, computed for the preceding example, is calculated by multiplying the tax on $1 by the number of dollars on which the tax is required.

REVIEW.-249. What is a tax? What a property tax? A poll-tax? 250. When a tax is to be assessed, what is to be first obtained? 250. How assess a tax, Rule? NOTE. How calculate a tax-table?

TAX TABLE.-RATE, 14 MILLS ON $1.

3. What, by the Table, was A's tax; his property valued at $756, he paying for 2 polls?

4. What, by the Table, was B's tax; his property valued at $1243, he paying for 3 polls?

Ans. $21.152

5. C's property is valued at $3589, and he pays for 4 polls: what is his tax? Ans. $55.246

AMERICAN DUTIES.

ART. 251. DUTY is a tax, levied by the Government on goods imported from a foreign country.

NOTE.-Duties are of two kinds, Specific and Ad valorem.

A SPECIFIC duty is a fixed sum per tun, gallon, yard, &c., without regard to value.

An AD VALOREM duty, (according to value), is a certain per cent. of the cost of the goods in the country from which they were imported.

In reckoning duties, deductions are made from the gross weight or measure. These are termed, draft, tare, and leakage.

REVIEW.-251. What is duty? Specific duty? Ad valorem?

DRAFT is made, that the quantity may hold out when retailed.

TARE is an allowance (after deducting the draft), for the weight of the box, cask, &c., containing the goods.

GROSS weight is the weight before deducting draft and tare. NET weight is the weight after deducting the draft and tare. LEAKAGE is an allowance of 2 per cent. on all liquors in casks, paying duty by the gallon.

Duties are computed on what remains after deducting all allowThe calculations are an application of percentage.

ances.

1. Find the duty on 3 boxes of Sugar, of 100 lb., 182 lb., and 264 lb., at 2 cts. a lb., allowing for draft, and deducting 15 % for tare. Ans. $9.18

First deduct the draft (6 lb.), then 15 per cent. of the remainder for tare, aud compute the duty on the last remainder.

2. What the duty, at 20 % ad valorem, on 40 bales of wool, of 400 lb. each, cost, in Spain, 25 cts. a lb., the tare 5% ? Ans. $752.40 3. A merchant imports 75 cases of indigo, gross weight 196 lb. each: allowing 15% for tare, what the duty at 5 cts. per lb.? Ans. $618.375

XVII. PARTNERSHIP.

ART. 252. PARTNERSHIP is an association of persons for the transaction of business: such, is called a firm or house; and each member, a partner.

REVIEW.-251. What are the allowances for draft? What is tare? Gross weight? Net weight? Leakage? On what are duties computed?

The CAPITAL, or STOCK, is the amount of money or property contributed by the firm.

The DIVIDEND is the gain or loss shared among the partners.

1. A and B engaged in trade: A's capital was $200; B's, $300; they gained $100: find each partner's share.

SOLUTION. The whole capital is $200+ $300-$500. Of this A owns 200 and, therefore, he should have of the gain: Bowns 300

500

500

of the capital, and should have 3 of the gain. Hence, A's gain will be of $100-$40.

B's gain will be of $100-$60.}

Ans.

2. A and B form, a partnership, with a capital of $800: A's part is $300; B's, $500; they gain $232: what the share of each?

Ans. A's, $87; B's, $145.

TO FIND EACH PARTNER'S SHARE

Of the gain or loss, when each one's capital is used the same time.

Rule. Take such part of the whole gain or loss, as each partner's stock is part of the whole stock.

Or, by PROPORTION. As the whole stock is to each partner's stock, so is the whole gain or loss to each partner's gain or loss. PROOF.-Add together the several shares; if the work is correct, the sum will equal the whole gain or loss.

REM.-1. This rule is applicable, when required to divide a sum into parts having a given ratio to each other; as in Bankruptcy, General Average, &c.

2. Partnerships are generally governed by special agreements, which specify the method of dividing gains or losses.

3. A's stock was $70; B's, $150; C's, $80; they gained $120: what was each man's share of it?

Ans. A's, $28; B's, $60; C's, $32.

4. A, B, and C traded together: A put in $200; B, $100; C, $600: they gained $427.26: find each man's share. Ans. A's, $71.21; B's, $142.42; C's, $213.63 What was the gain %? Ans. 35.605 %.

5. Divide $90 among 3 persons, so that the parts shall be to each other as 1, 3, and 5. Ans. $10, $30, and $50. 6. Divide $735.93 among 4men, in the ratio of 2, 3, 5, and 7. Ans. $86.58; $129.87; $216.45; 203.03

7. A person left an estate of $22361, to be divided among 6 children, in the ratio of their ages, which are 3, 6, 9, 11, 13, and 17 yr.: what are the shares?

Ans. $1137; $2274; $3411; $4169; $4927; $6443.

8. Divide $692.23 into 3 parts, that shall be to each other as,, and . Ans. $127.60; $229.68; $334.95

ART. 253. OF BANKRUPTCY.

A BANKRUPT is one who fails in business.

9. A man, failing, owes A $175; B, $500; C, $600; D, $210; E, $42.50; F, $20; G, $10; his property is worth $934.50: what will be each creditor's share? Ans. A's, $105; C's, $360; E's, $25.50;

B's, $300; D's, $126; F's, $12.00; G's, $6. NOTE.-Such questions may also be solved by finding what can be paid on $1, and multiplying this by each creditor's claim.

10. A man owes A $234; B, $175; C, $326: his property is worth $492.45: what can he pay on $1; and what will each creditor get? Ans. 67 cts. on $1; A, $156.78; B, $117.25; C, $218.42

ART. 254. GENERAL AVERAGE

Is the method of apportioning among the owners of a ship and cargo, losses occasioned by casualties at sea.

11. A, B, and C freighted a ship with 108 tuns of wine. A owned 48, B 36, and C 24 tuns; they were obliged to cast 45 tuns overboard: how much of the loss must each sustain? Ans. A, 20; B, 15; C, 10 tuns.

REVIEW.-252. What is partnership? A firm? A partner? The Capital? Dividend? How find each partner's share of the gain or loss, Rule? How, by proportion? REM.-To what is this rule applicable?