The Sun.
London, England, 1853-12-10 00:00:00

THE STAMP LAW.

Attention has been called to a point in the official ex-
Position of the Stamp Law, recently issued by the Corn- •
roissioners of Inland Revenue, which seems to require
the, serious consideration of the mercantile interest.
~-the Stamp Act of 1815 exempts letters by the General
Post acknowledging the safe arrival of bills of exchange,
Promissory notes, or other securities for money, from
duty, This law is not altered by the recent act ;
i but,
n the exposition now issued, the Commissioners, in
substance, state that the act only allows the safe arri-
val of securities to be acknowledged as a fact. That if
the letter goes on to say the amount has been placed
to account, it becomes liable to duty as a receipt,
/vine, if it states that the amount of a credit
advised has been paid, it is liable to Stamp duty.
aln
Practice, letters, acknowledging remittances, have
'ways stated stated the appropriation of those remittances,
Land no such letters have ever been stamped. Now,
however, according to the law laid down by the Com-
missioners, if a foreign merchant in London receives from
his correspondent on the continent, or in America, a re-
mittance of bills against a shipment of goods, he may ac-
knowledge the receipt of the bills ; but, if he goes on to say
that he has placed the amount of the bills to his corre-
nPondent's credit, his letter requires a stamp. So, likewise,
if be acknowledges the advice of a credit on a banker,
no stamp is due ; but if he goes on to say, that the
credit has been honoured and the money paid, this sub-
tents the letter to duty as a receipt. It will, therefore,
e seen that if this be law a large body of foreign mer-
chants must at once write their letters on receipt stamps ;
..and, also, that much of the correspondence of manufac-
turers, who acknowledge remittances, must be on a simi-
lar form. Another consideration is, that perhaps one
Stamp may not be sufficient to cover the acknowledg-
lnent of several different sums on several different ac-
counts, and, if so, many letters will require to be stamped
several times.
The case is not one where anything is optional to the
parties. The Commissioners insist that every such
letter is a receipt, and, therefore,
.if written without
stamp, it will subject the writer to a penalty ; and, fur-
ther, it can never be read as evidence in a court of
Justice. At the same time, it is to be remarked that, as
this interpretation is based on the old law, it follows
that all such correspondence, before the passing of the
last Act, should have been written on ad valorem
Stamps.
Of the practical inconvenience of such a law all per-
eonsfr can judge ; and, if it be as declared in the Stamp-
"tee pamphlet, no time should be lost in altering it.

- _
FOREIGN EXCHANGE.—The last quotations from the
Paris Bourse yesterday indicate extraordinary anima-
"en, a rise in prices having occurred of about 11 per
cent. From Hamburg the report of the money market
is favourable, the rate of discount having receded to 31
brio. The St. Petersburg dates are to the Ist inst., but
gno new quotation of exchange. The recent severe
°et bad been suddenly followed by mild weather and
Fain. Odessa letters reach to the 28th of November,
When there was still a very active business going on in
Wheat. According to a statement which has since been
telegraphed, frost has set in, and the port is frozen up.
GREAT RISE IN THE VALUE OF DUST.—The parish
of St. Mary, Islington, is now reaping in a remarkable
lthe benefit resulting from the great demand for
degree to be used in the manufacture of bricks. A few
Years since 201. a year was paid for the dust and sweep-
lugs of the parish ; for the present half-year the trustees
a" to receive 650/., while for the half-year commencing
Christmas next the contractors have undertaken to pay
1,500/., making 2,1501. for the year ending Midsummer
next, which is applied to the reduction of the lamp
rate.
LETTERS FOR THE ARCTIC SHIPS.—Letters for offi-
ce", seamen, and marines serving in the undermentioned
ships, will be in time to be forwarded if sent to the
ships
on or before the 15th inst :—Her Majesty's
eni,pe Enterprise, Rattlesnake, and Plover.
nnINVERNESS AND NAIRN RAILWAY.—The large and in-
eential public meeting held here on Tuesday last to in-
augurate., as it were, the scheme of the Inverness and
Nairn Railway, speaks well for the success of the under-.
taking, Al more unanimous or enthusiastic meeting was
held in the town, and the speeches delivered on
the occasion supply all requisite information, besides
Pressing the confidence of the parties in the expediency
and necessity of the communication. One push now
e secure the boon ! If this opportunitybl is ne-
glected,4:lll we shall not again have so favourable
1142..°11. To place the scheme beyond doubt, early
an (:)ca-
"en for shares is necessary. The coniramt. y applica-
tion cbae-
, (teihgned and lodged by the 31st instant, in order tom insure
e bill being carried this session, and consequently there
is no time to be lost. Again we would entreat the
northern public not, through inadvertence or delay, to
lose the greatest public benefit ever within reach of the
Present generation.—lnverness Courier.