The Sun.
London, England, 1854-10-25 00:00:00

THE NEW STAMP ACT.

The following is from Mr. Grain, a London notary.
enclo,,ing a series of inquiries addressed to the Inland
ReTenue•offiice, respecting various points of importance in
the working of the new stamp Act, and the answer re•
ceived :

Change-alley, Oct. 24.
Sir,—l beg to forward you the enclosed correspondence
for the information of the public, and would call particu-
lar attention to the opinion held by the Board of Inland
Revenue, that, "as regards the duty on bills drawn abroad
in sets, payable in this country, each part of the bill is
liable to the duty on an inland bill."
As respects such bills, the understanding is certainly
general in the city that, provided one part of a set bear a
stamp equivalent to the duty payable on an inland bill,
the holder is not bound to put any stamp on any of the
parts which he may
annex thereto.
I am, Sir, your obedient servant,
W. GRAIN.

QUESTIONS REGARDING THE STAMP ACT, 17 AND 18
OF VICTORIA., CHAP. 83.
Tho I.At clause, repealed' from and after the 10th of Oc-
tober, 1834, the laws then in force imposing certain stamp
duties payable in Great Britain and Ireland in respect of
inland bills of exchange and prerniesory-notes, and new
duties are imposed in lieu thereof.
t thi
n Therespaece ebni eoef oenxtcobiamn pgeos,e for
drawn
awnthe first time, a
s
outof
theundinto,tyt
tKri,naged:bt tri
0,
abdu,tbnuot
pay referenceableoirs
negotiated made to
PwriTiinastfleOn°itted
,Koimngindgeimui.thAinrtehseucohpeprraottnioinssoorfyt-hneotneaswto be
act,tarnesteatthl
earseftooret
wholly exempt from duty?
The 4th clause throwE a protection over an innocent
holder of a bill of exchange, which, though purporting
be drawn Abroad, may have been act:n:llly drawn within
the LTnited Kingdom, provided the new duty shall be paid
by the party taking the same. Will this protection be ex-
tended to a promissory-note in the case of its purporting,
though incorrectly, to have been made abroad, but the
colder whereof shall, on its coming to his hand, have forth-
with annexed and duly cancelled an adhesive bill of ex,
,;hange stamp, of value to cover a bill of exchange of the
.ante amount as such promissory-note?
The sth clause requires the holder of a bill of exchange,
drawn out of the united kingdom, and not having a proper
adhesive stamp affixed thereon, to fix an adhesive stamp
ohni tst pf
rroe
icnl ut(hl nceorucnhtarnyt sa
'withbr otpahadepfedrrou,mt dnidrnadnvriocitna
tgbeybd
previously to presenting such bill for payment, &c. Will
y
impressed by a die on the alblnys oa:nd h!fteolsr limv P
.eg
.e.vermt

the sth clause the following questions also
fries
Atit,llLLlllag that the 6th clause has exclusive reference to
of txchange drawn within the United Kingdom, there
is esething to prevent two parts, or one part only, of a bill
drawn from and payable abroad from being negotiated
,vithin the United Kingdom. Will it, then, be sufficient,
u the case of a bill, for example, for 3001., drawn, or pur-
porting to be drawn, in a set of three from a foreign coun-
,ry, and paphle abroad, if the hohler, who hss received
only two of the par•
• of which such bill consi b:, put tie
..,ihesive stamp of Is. on each of such two parts, if he trans-
fer both, or on one only, if he transfer but one, the other
emaining in his hands?
This is important, as it frequently happens that the first
is sent to the drawee abroad fur acceptance, and never
,ernes into :his country, and the second or second and
.bird are negotiated here.
Is the Gth clause to be construed as having exclusive
reference to bills drawn within the 'United Kingdom?
Clause 10 allows draughts to be drawn on adhesive re-
ceipt stamps. Would a banker be warranted in paying a
Iraught " to order" drawn on a receipt-stamp, the amount
sf duty being impressed on the paper, and not indicated
ay an adhesive receipt stamp ?
Must the weeds "on demand" be expressed in draughts
irawn on the penny draught stamp ? Attention is called
to this point, as draughts payable on the amount being de-
manded are frequently expressed to be drawn " at sight"
ui " presentation," or in foreign languages in words corre-
4pondin with these terms ;"or an order is simply given
thus—" Pay A. 8., or order.
If the duty on a bill of exchange drawn from abroad
le paid by means of two or more stamps of the proper de-
oomitation, and taken together of suffieient amount, in-
.tead,t of one only, will that be considered a compliance
with the act ?
If a bill of exchange dated from abroad, and payable in
this country, be drawn in a set, must tho duty be paid by .
nse or more stamps on one part of the set, or ma se
y parate
stamps be put on the several parts, provided the aggregate
iuty thus paid be equal to or exceed the single stamp pay-
tide on an inland bill of the same amount ?
The undernientioned penny stamps have been issued :
An adhesive stamp, bearing the words "Dranght stamp ;
one penny."
A die stamp, with the words "Draught on demand."
Au adhesive receipt stamp.
A receipt stamp impressed by a die.
A bill or note stamped impressed by die.
A bill stamp impressed by a die, and bearing the words,
'' Foreign bills in sets, one penny."
"An adhesive foreign bid stamp bearing the words,
•‘ Foreign bill drawn out of the United Kingdom."
Would not the purposes of the revenue be answered and
be public convenience consulted by the issue of two
stamps only of a penny each—one being impressed by a
..tie, aid the other adhesive ; abolishing all the above anti-
aerated distinctions, and making the stamps alike applia
-able to bills of exchange, promissory-notes, cheques,
kraughts, orders for the payment of money; or receipts?

" luland Revenue, Somerset-house, London,
Oct. 21st, IS-5.1.
Sir,—The Board of Inland Revenue have had before
hem your letter of the 12th inet., submitting a paper con-
ainiug several questions relative to the operation of the
stamp Oct, 17th and 18th Victoria, c. 83. 'I am directed
o state that promissory-notes, if drawn out of the liuited
tin jiom, are not subject to any duty. The fourth sec-
ion of the act does nit extend to promissory-notes, but
.uly refers to bills of exchange.
With regard to your inquiries relative to the fifth 'sc-
ion, I have to state that, rot only ailbeeive stamps can be need-
ur deneting the duty on bills drawn out of the United
'iingilorn, merchants Abroad cannot draw their bills on
tamped forms. The holder iu this country of bills drawn
.broad in sets should put the adhesive stamp on each part
his possession, and, if not drawn in sets, the foreign
'ill stamp of the saute amount as the duty on an ielaud
bill of exchange.
" Thu 6th section refers exclusively to bills drawn within
ho United Kingdom payable abroad.
The 10th section, relative to the use of receipt stamps to
;enoto the duty of one penny on draughts payable to the
fearer or to enter on demand, or the use of draught stamps
er receipts, refers entirely to adhesive stamps, and there-
'ere a draught cannot legally be drawn on paper with an
• mpressed receipt stamp.
I may obs..rve that the words " on demand" ought to be
-xpreesed in draughts drawa on the penny stamp, but a
,ill at sight, or on presentation, is liable to the ordinary
•uty on a bill of exchange.
With regard to affixing two or more adhesive stamps on
pills drawn abroad, it is held that it would roe be contrary
so law to do so, but the safer course is to nsa one stamp
only to denote the duty payable.
As regards the duty on bills drawn abroad in sets, pay-
Able in this country, I have to state that. each part of the
bill is liable to the duty on an inland bill of exchange.
With reference to your concluding inquiry, as to whether
one stamp impressed to denote the duty of a penny and an
adhesive stamp of the like amount could not be used to
denote indiscriminately the duty of that amount payable
in receipts, bills, promissory notes, or draughts, I have
to state that your proposal would be inconsistent with the
objects for which the present stamps are provided.
The receipt stamps are both impressed and adhesive, be-
cause it tiny happen that persons could not immediately
procure, when wanted, the former description of stamps,
but they can be always provided with the latter.
The impressed stamps are, however, generally preferred
by porsuns with the stamps, and are then saved the trouble
if affixing and cancelling them on each occasion of their
use. The two descriptions of stamps, therefore, promote
:he public convenience, and facilitate the means of cern-
plying with the law.
The use of an adhesive draught stamp for a receipt, and
of an adhesive receipt stamp for a draught, is permitted
by a provision introduced into the last act of Parliament,
with a yiew to the public convenience; but a single stamp
is now in preparation to be used for either of theeo
purposes.
signed
ift,i)trpLe ne (1,1
ills drawls in
no
~reci,g,unnbtri lvlstnin
eshi
itdei;
not intended that adhesive stamps d
.be applied. It
is necessary, also, that there should be an adhesive stamp
for bills drawn out of this country liable to the same
*mount of duty.
I have, perhaps, nnneceeearily entered into this detailed
~xplanatiou, showing the necessity for the different kinds
of stamps ; but it may be more satisfactory to you to know
he grounds on which they are provided.
I am, sir, your obedient servant,
THOMAS KEOGH.
W. Grain, Esq.

PORT-PHILIP GOLD MINING COMPANY.

____...._____
p
Thea.A.Dyn7xed is a memorandum from the Port Philip Com.
have received advices from their resident
the following
Port Philip and Colonial Gold I,ldiinriencgtoCor
iirtPa-monly.
bourne, under date 18th of August, of w
are extracts : last
intention regarding
Iling has transpired of the GoLvern
islative Council is further
leasing auriferous lands. The
Mining Regulations.—Since my
t iengber, to meet then for the
prorogued to the 21st of Sete,
ma oa this subject no•
In.t
emeut I believe it is the
Governor's intention to yis
of the affairs of the co.
the
th:&;:li:lnitfie'lds and mature his
Plans for the general arrang
despatch of business.
luny, including initnio.toing
mineral ground, the general
"With reference D 1
ite in favour of it, I have no doubt in
opinion now beinge
.„ suitable regulations will be issued, en•
ems to carry on mining operations, and I de
a . . od by any nICSIIS advance the interest of this
3nbosithi ntoir7itnct°kitutugP:Vt'amn°ie
It csi urgei i
ntehte,
bewares,matter an ysifurther
moreat the
ol apnr ea.
corn i'lnY
snit rnoluen •
very TEIS
onabl3 time to elapse before making another appli-
entiou. I consider the mining interest as important as any
other in this country, and have no intention of allowing
the company's jest claims to be slightly treated, I nave
lately instructed Mr. Thompson to examine the Ballarat
district. There are in all the goldfields portions of partially
worked ground that would answer well to take ou lease. I
am, however, on the whole, decidedly in favour of the
Ovens, on account of the gold, tin, and abundant eappif
of water. I shall be as glad to report a commencement as
the board to hear of it.
Gold
purchases.—l am sorry this is rot in a ITOTO Wail-
factory state ; there ie, however, a probability of improve.
' ment. lam not in want of funds.

1..
EITRNSIVE Flltit IN MLNCHESTICE. --- On Monday
— -
evening a fire broke out in a large warehouse, five
storeys high,
in Bridg,ewater.place, High.etreet, Man-
chester, in the occupation of Mr. W. J. Williams,
emallware-manufacturer. The warehouse is one of a very
extensive block of buildings exactly opposite the vast
premises of the Messrs. Rylarids, which were a short
time ago levelled to the ground by fire. In the ort time
the flames burst through every window, and greatoot
alarm prevailed amongst the occupie're of • tho,nrijoini;g
mills and warehouses, eontaining property of theceTre.
valuable character, and several of these , Commenced
moving their goods, under the
valuable
flames would spread to their premises.
the
the
flames
were nhoautt the
thheich
extinguished. The stock,
hours' incessant exertion by
T. brit is insured for a largo
one, is considerably damage ,
1-.. not been filly agscer taincti.
amount. The Will daislage.,4 11 .
f , rwPar
se h
:e4c1.,,,,t
.ieorri I:y:1i;