Sect. 2. The following described property is hereby exempt from taxation : 1. The property of the United States and that of this territory; the property of any county, township, incorporated town, or school district, when devoted entirely to public use; public grounds, by whomsoever devoted to the public, including all places for the burial of the dead. 2. Fire engines and implements used for extinguishing fires, with the grounds used exclusively for the buildings of a fire company. 3. All grounds and buildings of literary or scientific institutions, [incorporated] under the laws of this territory; also the grounds and buildings of benevolent, agricultural, and religious institutions, and societies devoted solely to the appropriate objects of these institutions, not exceeding six hundred and forty acres in extent. 4. The books, papers, and apparatus belonging to the above institutions, and used for the purpose above contemplated, and the like property of students in any such institutions; moneys and credits belonging to said institutions, not exceeding in amount the sum prescribed in their charter. 5. Apimals not specified in the next section, the wool shorn from sheep belonging to the person giving the list. The provisions for any family, sufficient for the sustenance of the family for one year; private libraries, not exceeding one hundred dollars in value; family pictures; libraries of clergymen; household furniture, not exceeding two hundred dollars in value; the wearing apparel of every person. 6. The polls or estates or both of persons who, by reason of age or infirmity, may, in the judgment of the assessor, be unable to contribute to the public revenue. 7. The farming utensils of any person who makes his livelihood by farming, and the tools of any mechanic, not in either case to exceed one hundred dollars in value. 8. Government lands shall not be taxed for the year in which the entry, location, or purchase is made.
Sect. 3. All other property, real and personal, within this territory, is subject to taxation in the manner herein directed. This section is intended to embrace lands and lots in towns, including lands bought from the United States, term [ferry] franchises and toll-bridges, which for the purpose of this act, are considered real property, horses, cattle, mules, asses, swine, and money, whether on deposit or in possession, and including bank-bills, money, or property, due from solvent