Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1862-11-12
THE TAX LAw-wHAr 1T REQUIRES


checks and drafts.
Brokers pay license of ;: $50
Brokers buy and sell specie, uncurrent mon-
ey. stocks and exchange.
Banks that do any brok erage business as
defined above must take out a brokers'
H license of ag: /: 500
Land warrant dealers must pay license of 25
BOND AND oRrGAGE.-Stamps are required
for each instrument; one for thf bond and one
for the mortg gage. 8tss0 sa e#5aa
The income tax is to be paid on the income
| of the year commencing January 1. 1862, so
that on the evening or the 31st of December
every body should have very clear record of
their income. gains or profits for the year
| And many sources of income, such as divi
dends and railroad bonds and stocks, insn-
rance stock, savings hank interest, etc, (they
having already paid the income tax), are not
again taxed, it therefore becomes necessary 10
have a clear record of the sources of income,
that there may be no dispute with the asses
| sor. se @Es Hfts e -H satj .
The income tax for the year 1862 is payable
| on the lst OF May, 1868. et - i.ls4 &
A, man in business must make up the net
profits of his businses for the year, and pay
the tax on he amount, less 5000.
man may, outside of his business, spend
all and even more than his profits in business;
nevertheless he must pay tax all net basi-
ness profits except the $500. And so with
salary all over $500 must be taxed, though
personal or family expenses consume ii all.
Checks, drafts, and orders for money whe,h-
err NJ : oh on tin,. n f,r e,,p,x, ~ G. -,
under, are not required to be stamped
! Notes of hand, due bills, &c, if fer sums OF
$50 or under, are not required to be stamped
Certificates of deposit, for any amount, re-
qnire stamps two cents for 500 aud under
five cents for all over S10O. ,s.l1 sAs.sss 4
| n All checks and sight drafts for sums over
$50, require only cents tor any amount
Time drafts and notes require stamps in
proportion to the amount ; 3 cents and upward.
Foreign drafts, if single or solo, whether at
sight or on time, are on the same scale as in
land time drafts and notes of hand s but if
drawn in sets, the first, second and third must
each be stamped according to the scale for
foreign bills in sets; 8 cents and upward
The payer is required to stamp bills made
abroad at the time OF accepting. if on time;
and at the time Of paying, if at sight.
The party attaching or first using the stamp
is required to cancel it by putting his initials
and the date upon it. The penalty for not do
ing so is fifty dollars; but in the make
of the instrument omits to cancel the stamp,
the party receiving it, or the payer, may can
eel it. This, however. will not relieve the
ma ker from the penalty.
After naming few certificates, . such as
shares of stock, deposits, &c, the law says.
''certiicates of any other description than
those specified, ten cents"
A great many papers in common use will be
necessarily changed in form, from a certificate
to an assertion of fact. In other ~ ofds p
A thousand and one lodges to avoid the
stamp act viii be adopted, but as a general
thing, good business men will pay the tax on
their money transactions, rather than trust TO
dodge that may or may not stand in law.
t --------> ->~> ----
A story is told of the veteran Sumner at
the battle of Antietam. His son, young Cap
tain Sumner, youth of twenty one was onhis
staff. The old man calmly stood, amidst
storm of shot and shells, and turned TO send
him through doubly ranging fire upon mis- |
sion of duty. He might never see his boy |
again but his country claimed his life, and as |
he looked upon his young brow, he grasped |
his hand, encircled him in his arms, and fond |
ly kissed him. Good bye. Sammy - ssGood- |
bye, father,'' and the youth mounting his |
horse, rode gaiIy on the message. He re- /
turned unharmed, and again his hand was
grasped with cordial SHOW dye do Sam
my !'' answered by grasp OF equal affection. |
The scene was touching to those around.
Some idea as to the quantity of provisions
required for the subsistence of Gen. Buell's |
army may be formed from a knowledge OF the
fact that no less than three hundred beef cat
tie are slaughtered for and consumed daily by
the troops under his command
"A poor widow went to Boston few days
ago to bid farewellto her two sons who had
enlisted for the war, and while shaking hands
with them at the depot some wretch picked
her pocket of $57 which they had given her
for support out of their money 1aai f
$50 you are going to teach schools said a
young lady to her maiden aunt. ssWell for
my part, sooner than do that would marry
widower with nine children" 81 would pre-
fer that my self.'' was the quiet reply, s.but
where is the widower2'' sc8 ~
A frolicsome husband in Syracuse few
nights since, hid under his bed, and when his
wife, unconscious of his concealment, came
in. took her suddenly by the leg. She shriek- |
ed, fell senseless, and is now raving maniac.