The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1863-01-26
Internal Revenue Bill.

There seems to be much misunderstanding
among merchants and others, respecting the
operation of some portions of the Act TO pro-
vide internal revenue. BY many ii is suppos-
ed that two cent stamp only, is necessary to
any note or bill of exchange, and that promis-
sorry notes, on demand, are not liable TO any
stamp. Whereas, all internal bills Of ex-
change, drafts, or orders for the payment of
money. otherwise than on sight or demand,
and ali promissory notes on demand or on
time, except circulating bank notes, in sums
exceeding $40 and not exceeding 500, must
have five cent stamp; exceeding 500 and
not exceeding $500. a ten cent one; exceed
ing $500 and not exceeding $3.50, fifteen
ce.it one; exceeding $3.50 and not exceeding
$500, twenty cent one; exceeding $500 and
mot exceeding $3.50, thirty cent one; exceed
ing $3.50 and not exceeding $1,000, a forty cent
one; between $1,000 and $500, sixty cent
one; between $500 and $500, a dollar stamp:
between $500 and 5000, a dollar and half
stamp; and for every additional $500 or part
of $500, one dollar.
Many also suppose that if bill of exchange,
NAhit, VI oihtA 10 pau Nituout utilik dNCeplcu,
the stamp duty is saved. Such is not the case
Sect. 100 provides for the use of the stamps on
bills OF exchange, &c. under forfeit of $780,
Sect. l01 provides that IL such bill, &c, be ne
gotiated or paid without the stamp, the per-
son so offending shall be fined 500.
The Collectors of Internal revenue are also
instructed by the Commissioner to enforce the
penalty in all cases where persons, who are
required by the Excise law TO use Proprieta-
ry stamps, shall neglect SO to do.
The following is decision of the Commits
sioner concerning the afiixing and cancelling
of excise stamps on documents, etc;
SIT seems to me perfectly clear that blythe pro-
VISIONS OF Sect. 70, the person who makes, signs
and issues the instrument is the only person
who is authorized to affix the stamp required by
the law: and the person who makes, signs, and
issues, ETC., without athxing the stamp, incurs
the penalty as aforesaid, and is liable to prose-
cuton therefor, and the instrument or docu
ment is invalid in consequence of such neglect.
Sect. W provides THAT the person USING or
GDtrtng the stamp, shall write thereupon the
initials of his name, date, &c.,
Other portions of the law impose penalties
upon persons who receive documents or articles
subject to stamp duty from the person who
makes. signs, or issues them, without being du-
~ stamped. etc.
am therefore Of the opinion that faithful
complianee with the requirements Of the provis-
ions of the excise law demands
First.-fhat all papers subject to stamp tax,
shal have the stamp affixed before the same are
issued.
Second.-That the stamp so affixed shall be
cancelled in the manner prescribed, by the par
ty making, signing, or issuing lin other words.
executing,) the instrument, document, or pa
per.
Hence, the receiving of an unstamped paper
is violation of the law. The attaching and
canceing of a document so received is also un-
lawful, and the cancellation of stamp ON pa
Per otherwise lawfully ISIS ced) by other than
the party executing the paper to which the
stamp ~ affixed, is equally improper.
The only exception that exists in the law to
the above ruling, is in the case of bill of ex-
change, or order for the payment of any sum Of
money drawn, or purporting to be drawn, in