Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-08-20
The stamp Law OF The United siates.

AC tan AAaN - ~ LAN
The Philadelphia Sunday Dispatch in an edi
torial on the tax bill, gives a description of TIT
last screw applied to the Yankees to support th'
/" glorious 4" Union. 1t is the stamp act, and is
thus described:
The most troublesome provisions OF the law.
In the ordinary course of business, will be the
regulations in reference to the placingo of stamps
upon papers and documents. The man who
signs a written contract, or an appraisement Of
damage, must put a stamp, value five cents,
upon every sheet or piece Of paper upon which
the same shall be written. A party drawing 6
check upon a bank, a draft. or an order for the
payment Of more than $50, must place upon it
a stamp valued sttwo cents. Bills or exchange,
drafts or orders, for the payment of money when
exceeding $50 require stamps of various values,
from FIVE cents up to a dollar and g halt, where
the amount in interest is $500, and 81 add
tiOnal for each $25 above the latter sum. So,
too, stamps win be Tequired-for letter Of credit,
bills of lading, or receipts for goods to be ex-
ported from the United States express company
receipts for goods to be carried bonds, eertif-
Gates of stock, and profits, and for other pur-
poses charters, mortgages, deeds, or instru-
ments Ofwriting for the conveyance Of real es-
tatei policies of insurance, msnifests, aud other
matters of business operations too numerous to
mention here.
These stamps are meant to be adhesive. and
placed on the documents or papers TO DO used.
The law says that a failure to use such stamps
where required shall render the parties who
ought to have employed them subject to q PEN
atty Of $50 " and such instruments, document,
or paper shall be deemed invalid and of no eff
feet" 1t seems TO be intended that the stamps
shall bear on their faces the names Of the psT-
ticular instruments for which they are intended,
and such stamps shall not be available upon any
other description Of instruments.
Besides the necessity Of using the stamps, the
law imposes upon those who employ them the
duty Of cancellation, 50 that the stamps cannot
be torn off and cgain be employed for another
service. It is provided that the party who places
the stamp upon the document shall write
thereon The initials Of bis name, or deface the
same in such a manner as TO show clearly and
Distinctly that such stamp has been made use of,
and that the same may not be again used"
There is q penalty of $50 dollars upon every
ore who uses a stamp without obGterating or
caneelling it.
Persons who use stamps, in the sales Of patent
medicines have the privilege of furnishing their
own stamps, according to their own designs,
with the appreciation of the commissioner of in
ternal revenue. Such stamps are to be so affixed
upon each box, bottle or package, that in open
ing the same or using the contents the stamp
shall be torn or destroyed.
Forgery of stamps is punishable by a fine Of
81, 900 and Imprisonment at hard labor not ex-
ceeding FIVE years. The same sverepunishment
is denounced againstany person who shall fraud
ulently tear, cut eff, or take a stamp from any
paper upon which it has bean placed for use,
with the intention Of using it again. The ae-
ceptance of payment Of bills Of exchange, drafts,
promissory notes, OF orders for the payment of
money, which are not stamped, makes the often
der liable to a fine Of $500. Foreign bills Of ex-
payable in the United States, cannot be
paid before the stamp is affixed, under a penalty
Of 500 against the party who pays.