Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1862-10-01
Revenue Stamps.

We publish to day that portion of the
Tax Law which refers to the imposition
of stamp duties upon commercial papers,
and legal documents of certain kinds.
A supply of these stamps has been
ordered by c. A. Adams, Deputy collect
or of the Direct Tax, for Trumbull Coun.
ty, and as soon as they can be procured
will be kept on hand by him and sup
piled to those who desire them. As they
were not issued in time TO meet the law
which goes into effect to-day, (Oct. lst)
the following from the y. Y. Tribune
Will be of interest. That paper says-"In
the now possible event that all the nee
essary stamps for Bills of Exchange, Bills
Payable, Insurance Policies, &C., may not
be prepared and distributed by the Gov
eminent in season for the lst of October,
the following section to the amendatory
act becomes important. The object of
the section is to remove the legal disabil-
ity from all such instruments, dated with
in the past year, which may not be stamp
ed, without releasing the penalty for is
suing them without the stamp, when the
stamps can be had :"
SEC. 2. And be Il further enacted, That the
85th section of the act entitled IAN act
to provide internal revenue 70 support
the Government and pay interest on the
public debt" approved July l, 1862, be
50 amended that no instrument, docu-
ment, or paper, made, signed, or issued,
prior 10 the JfrSt day Of January, 1863, with
out being duly stamped, or having there
on an adhesive stamp TO denote the duty
imposed thereon, shall for that cause be
deemed invalid and of no effect: Provided
hoarersr, that no such instrument, docu.
ment, or paper, shall be admitted or used
as evidence in any court until the same
shall have been duly stamped, nor until
the holder thereof shall have proved to
the satisfaction of the Court that he has
paid to the Collector, or Deputy-C Collector
Of the District within which such Court
may be held, the sum of five dollars for
the use of the United States.
The Cleveland Leader says-From what
the Tribune says, all documents required
10 have stamps on do not become null
and void on account of not having the
appropriate stamp on till the LIST of Jan
uary next, but that the penalty will re-
main in full force chen the stamps can Be
had.
There is u great variety of stamps, as
will be seen by reference to the schedule.
stamp prepared for any one ~instru-
will answer for any other ~instru-I
rlent. For acknowledgements, checks,
bills inland, bills foreign, bills of landing,
express, &c, &c, must each have their
appropriate stamp.
There is a great variety of denomina-
of stamps-see Bills of Exchange for
instanee-but a ten and twenty-cent
will answe in lieu of a thirty-cent
and three fve-cent stamps will an
'wer in lieu of a ifteen-cent stamp, &c,
the stamps are of the appropri-
lte kind for the instrument.
Stamps must be cancelled, when used.
~ writing thereon the initials of the name
If the person, firm or institution using
hem.
The absence of the appropriate stamp
'r stamps imposes a fine of $50 on the
maker or signer of an instrument; and
my person honoring or paying any check,
9lil, or note not properly stamped, f~orfeits
oZUu; and all instruments in writing, re-
Iuirlng TO be stamped, and not properly
stamped, are declared null and void.
Every village in the United States must
It's retailer or vendor of stamps.
1t is probable hat the Tax Law is not
generally understood by the people, but
ew of them having seen it at all, and
till fewer having studied it sufficiently
o comprehend those provisions which
ill affect their own personal interest.
t would be well for each individual TO
btain a copy of it and after carefully !
il, keep it for future reference
opies can be obtained at the Book 7
torres, for ten cents each.