That the said board of commissioners shall have power, at any time, to elect one or more auctioneers for the Town of Wilkesboro, who shall give bond, with approved security, in the sum of one thousand dollars, payable to the State of North Carolina, conditioned that he will faithfully perform the duties of auctioneer by law, which said bond shall be filed with the mayor to be by him safely kept; and when the town commissioners shall have appointed said auctioneer, and he shall have filed his bond, no person shall exercise the office of auctioneer in said town except those duly appointed by the board of commissioners; and the said board may make ordinances regulating auction sales in said town; and the said auctioneer shall pay as a tax a certain per centum on all sales, hires and profits made by virtue of his or their office not to exceed one per centum, to be levied by the board.