The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1863-03-20
The Internal Revenue Law.


amend the Internal Revenue Law, contains
some important provisions and notifications
which are of interest to the mercantile COM
munity.
Section sixty-four of the old law is amended
in the thirty-eighth paragraph as follows:
Insurance agents shall pay ten dollars for
each license. Any person who shall act as
agent OF any fire, marine, life, mutual or other
insurance company or companies, shall be re-
garded as an insurance agent under this act /:
Provided, That no license shall be required of
any insurance agent or broker whose receipts,
as such agent, are less than the sum of six
hundred dollars in any one year.
The sixth section makes some changes in
the value of stamps, to be affixed to checks,
receipts, notes, &C.:
Section one hundred and ten Is hereby amen
ded as follows !" Any memorandum check,
receipt, or other written or printed evidence OF
an amount of money to be paid OH demand, or
at a time designated, shall be considered as a
promissory note within the meaning of that
section, and shall be stamped accordingly;
and Schedule B, following said section, is
hereby amended 50 that any inland bill of
exchange, draft, or order for the payment OF
any sum of money exceeding twenty dollars,
otherwise than al sight or on demand, and any
pronissory note shall tin lieu OF the duties pre-
scribed in Schedule b. have stamp or
stamps affixed thereon denoting duty, upon
every sum Of two hundred dollars or any frac-
tional part thereof, ii payable on demand or at
any time not exceeding thirty-three days in
Guiding the grace from the date or sight, of
one cent, (0l.)
II payable at any time not less than thirty
three days aforesaid, and not exceeding six
~ III .iax inpl ,At fh..sr H.
or sight, OF two cents, t02.l
II payable at any time not less than sixty
three days., as aforesaid, and not exceeding
ninety-three DAYS, including the grace from
date or sight, of three cents, t03.)
If payable at any time not less than ninety
three days, aforesaid, and not exceeding
four months from date or sight, and grace,
four cents. t04.)
II payable at any time not less than four
months, as aforesaid, and not exceeding six
months from date or sight and grace, of six
cents, (06.)
If payable at any time exceeding six
months from date or sight and grace, Of ten
cents, ll0)
And that Schedule B, following section one
hundred and ten, be and hereby is further
amended 20 that the stamp duty on certificates
of any other description than those specified
in said schedule. in lieu of ten cents as there
in prescribed, shall be five cents, (05.)
On passage tickets by any vessel from a
port OF the United States TO foreign port,
costing thirty dollars or less. fifty cents, (50)
Oh any power of attorney Tor the sale or
transfer OF any scrip or certificate of profits or
aecuinulations OF any corporation or assoeia-
ton, II for sum not exceeding fifty dollars,
ten cents, l10.)
On any policy OF insurance or other instru-
ment, by whatever name the same shall be
called, by which insurance shall be made or
renewed upon property of any description,
whether against perils by sea or by fire, or
other peril OF any kind. made by any insurance
company or its agents, or any other company
orperson. in which the premium or assessment
shall not exceed ten dollars, ten cents, ll0.)
On any bill Of SAFE by which any ship or yes
sci, or any part thereof shall be conveyed to
or vested in any other person or persons, when
the consideration shall not exceed five hun
dred dollars. there shall be affixed stamp or
stamps denoting duty Of twenty-fv cents,
(25.l
II the consideration exceeds five hundred
and does not exceed one thousand dollars, the
duty shall be fifty cents, (50)
III the consideration exceeds one thousand
dollars. Tor each and every additional amount
of thousand dollars, or any fractional part
thereof, in excess of one thousand dollars, the
duty in addition shall be fifty cents, 1901
On each and every assignment or transfer Of
a mortgage, lease, or policy OF insurance, a
stamp duty shall be paid equal to that imposed
on the original instrument
Any power OF attorney, conveyance, or doc
ument of any kind made, or purporting to be
made, in any foreign country to be used in the
United States shall pay the same duty as is re-
qnired by law on similar instruments or docu-
ments when made or issued in the United
States; and the party TO whom the same is is
sued or by whom il is to lie used, shall, before
using the same, afiix thereon the stamp or
stamps indicating the duty required.
Any mortgage or personal bond for the pay
ment OF money, or as security for the payment
OF any definite or certain sum of money, in
lieu OF the duties imposed as prescribed in
Schedule b following the one hundred and
tenth section. shall have stamp or stamps af-
fixe.. thereon denoting a duty upon every sum
OF two hundred dollars, or any fractional part
thereof of ten cents, (10.)
No conveyance, deed, mortgage, or writing,
whereby any lands, tenements, realty, or 9TH
er property shall be sold, granted assigned, or
otherwise conveyed, or shall be made secu-
rity Tor the payment of any sum OF money,
shall he required to pay a stamp duty of more
than the sum Of one thousand dollars, any
thing to the contrary notwithstanding.
No stamp duty shall be requi, ed ON powers
OF attorney or any other paper relating TO APP
plcations for bounties, arrearages OF pay or
pensions, or TO the receipt thereof from time
TO time, or indemnity awarded for depreda-
tions and injuries by certain bands of Sioux
Indians; nor on any warrant OF attorney ac-
companying bond or note. when such bond
or note shall have affixed thereto the stamp or
stamps denoting the duty required: and when
ever any bond or note shall be secured by
mortgage, but one stamp duty shall be rcquir-
ed to be placed on such papers: Prorided,
That the stamp duty placed thereon is the
highest rate required for said instruments or
either Of them; nor OH certificates of the
measurement or weight of animals, wood, coal
or other articles; nor on deposit notes TO mu-
tual insurance companies for insurance upon
which policies subject to stamp duties have
been or are to be issued; nor on any certif-
cate of the record of deed or other instru-
ment in writing, or of the acknowledgment
or proof Their of by attesting witnesses.
The duty or stamps required for transporta-
tion by express companies and others is here
by repealed, aud such transportation shall be
exempt from stamp duty.
The stamp duty on contract or agree
ment for the charter of any Ship or vessel or
steamer, as now provided Tor In Schedule b.
or any letter, memorandum, or other writing
between the captain, master, or owner or per-
sou acting as agent az any ship, or vessel, or
steamer, and any other person or persons for
or relating 10 the charter of such ship or yes-
sci, or steamer, II the registered tonnage of
such ship, or vessel, or steamer, does not ex-
coed one hundred and fifty tons, shall be one
dollar t$1.)
Exceeding one hundred and fifty tons and
not exceeding three hundred tons three dol