Weekly Indiana State sentinel. [volume] (Indianapolis [Ind.]) 1853-1861, 1855-03-29
MIR. Bentons Plan to suppress Small
Notes,

We publish, by request and for the infor-
nation of our readers Mr.. BENToN's bill for
a stamp duty The end to be accomplished
we highly approve; but we doubt about the
means. The ostepsiJle object of the bill IS to
raise revenue by direct taxation when no
revenue is wanted, when, in fact, the income
of government is far greater than is desirable
for honesty and pure morals.
The real object is to interfere in the policy
of the respective States on the subject of bank
paper, to do indirectly what Congress could
not do directly. We do,sJt.
A Bill to impose Stamp Duty on bank notes
and paper currency of small denominations.
Be At enacted By the Senate and House Of Repre-
sentatiues Of the United Statesof Ameifoa IN Con-
greSS assembled, That from and afterthe thirty
| first day of December, in the year eighteen
hundred and ffty-five, there shall be laid and
collected throughout the United States, their
Territories, and the District of Columbia, a
stamp duty on all bank notes, and all other
paper currency of small denominations, as
follows:
On all such notes or currency of less de
nomination than five dollars, a stamp duty of
| forty cents on each piece of paper on which
said note or intended currency shall be writ
ten or printed.
On all such notes and currency of five dol =
lars, and less than ten dollars, a stamp duty oi
twenty cents on each piece of paper on which
such notes or currency shall be written or
printed.
On all such notes and currency of ten dol
dollars and under twenty, a stamp duty of ten
cents on each piece of paper on which such
note or intended currency shall be written or
printed.
SEC. 2. ,Arpd be 1t further enacted, That
the clerks of the district Courts of the United
States, each in his district and the clerk of
the circuit court for the District of Columbia,
and the clerks of the courts of highest civil
jurisdiction established bv Congress in the
Territories, shall, upon application, stamp the
paper which may be brought to him for that
purpose, and receive for his fee the One-half
of the amount of the stamp duty imposed on
each piece of paper, and shall account for the
remaining half in such manner rs the Secre-
tary of the Treasury shall direct; and the said
clerks shall conform to the instruction of the
Secretary of the Treasury in the mode of
keeping the account of such stamps, and in
the mode of accounting for and paying over
the proceeds of said stamps.
SEC. 3. And be 1t f,srtier enacted, That ev
cry person and the officers of every corpora
ton who shall issue any paper so required to
be stamped, without previously having been
stamped, shall forfeit and paw, TO any person
who will sue for the same, the sum of ten
dollars for each offence; and shall be liable
fio1 IN c,r.l,
piece of paper to any holder of unstamped
currency. And all debts or obligations to pay
money or property, and all contracts, &c,
founded upon a loan of such unstamped cur
rency shall be null and void.
SEC t. A,d be 1t further enacted, That ev-
cry person who shall pass any unstamped cur-
rency required by this act to be stamped shall
be deemed and held to be the maker thereof,
and shall be liable to pay the same in the same
manner as the original issuer thereof, with the
addition eff one hundred per centm thereon; ;
and such passer Of such unstamped currency
shall also be liable to the penalty of ten dol
lars for each piece of unstamped currency so
passed., to be recovered by any holder thereof
who will sue for the same.
SEC. ;. AndJe 1t further enacted, That the
sum OF three thousand dollars, out of any
money in the treasury not otherwise appropri-
ated, be, and the same hereby is, appropriate /
to enable the Secretary of the Treasury to
carry into effect this act
SEC. 6. And belt tu,the1 enacted, That any
violation of this act shall be penal offence
cognizable in the district courts of the United
States, or any United States territorial court
and in the circuit court of the District of Co
lumbia; and that it shall be the duty of the
grand jury in all such courts to make present
ment of all such offences as shall in any way
come to their knowledge, and also the duty
of the district attorneys to prosecute the same.