The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1863-05-20
The stamp Tax or Deeds or other Docu-
mFHts.
The Commissioner Of Internal Revenue Ia.
s-.-1-J -o-1-.f ~o;-f-.

decided several points:
WAsHIysToS Monday, APRIL 9TH 1888.
II has been held by this offiee that V was not
the intention Of Congress 10 subject 10 TAI
deeds or other documents executed oy any ON
Ger Of a State, acting in bis official capacity on
the part Of the State, 10 order 10 pass title, or
70 furnish evidence Of Indebtedness 10 citizen
Or corporation. where such tax II paid at al
must be paid By lie State
Bat this rule does lot apply when the proViS-
ions Of the Law requiring stamp to De sn4eu
DO not relieve the other party 10 the instrument
IRON the duty Of stamping Il. Suel i tue case
ia the instance mentioned Ia your letter Inc
gath section OF the act Of July /, le6z, makes
i obligatory upon the person or party VINO
.bau make sign. OF issue the instrument" or
the perso,, or party for lcose use or te''sHt the
same shall be made, signed or used, TO paw the
Lax or duty stated in the schedule. Though the
STATE bv this construction Is exempt, the grant
ees Of the State are 10; and II Is their duty IN
taking coaveyances which are made BY state
authority. and which convey the tile OF me
State. 70 sfix the appropriate stamp The only
duty required Of the officer executing the deed
for the State j. % see that the stamp Il sflKec
and he i not obliged TO deliver the deed TIL the
stamp is furnished, and Cancelled by the pur-
chaser.
Although the c0nveyances heretofore made
/ by the State since the Excise law came into
operation are inaimissible in evidence, without
stamps thes may by the provisions OF the 10th
section Of The act Of the 81 OF March last, be
rendered valid by being properly stamped The
stamp may be affixed, and the stamp Cancelled
" by the person using the Instrument. In the
case OF conveyance the grantee il the person
using it, and be, therefore, in the case OF a
70
stamp IT, The stamping Of the instrument Out
OF time and in pursuance of the last mentioned
act ought 10 be attested, go thar the act Of val
dating the Instrument, rendering it admissible
i'm evidence. can be proved. When the stamp
Is affixed ia the presence Of Court Of Record,
il NAV be done by the agent or attorney OF the
grantee Of the conveyance, or the party claim
irg under him. When done out Of Court, the
party "usinqn it j. regarded as the proper
party TO perform that Office.
The privilege of stamping deeds subsequent
10 the time of making them, will expire on the
last day OF May. 1868
Although deed not stamped al the proper
tine. NAV be stamped afterward the penalty
Tor omitung TO aIix the stamp at the making OF
delivery of the deed Is not RENTED by the las
act.
TRANSACTIONS II GOLD COIN.
The following question was recently submitted
10 the Internal Revenue Office by bankers il
New York.
Where gold coin OF gold dust IS consigned Il
, Us for sale, and drawn against, by reason Of pay
: ment OF sai1 drafts The owner becomes u on
debt 10 an amount not over the par value, and
same remains unpaid for 10, 20 OF 20 days, b,
delay OF CONVERSION OF Of sales Of the gold dus
or coin, what is the stamp?
The answer is as follows;
The act Of March 3. 1868, defines how trans
actions in gold snd silver coin, aud bullion, MAJ
be carried on, declares all contracts, loans o.
sales not made IN accordance thefeWith, 20 b,
void and afiixes certain penalties to violations
, OF it, provisions. A fundamental requirement
2 Is. that they shall be settled 10 three DAYS. II
the case put by YOU settlement is postponed fol
30, - or 80 DAYS. H. 90 far as the fret case i,
understood, it appears To- me that tie dra wing
sgains, the gold alleged TO be consigned TO-
sale taken in connection with the assumed
- delay of convess.ea. ~ OF sales for TO- ~ OF
80 DAVIS, changes tue Transaction from a ssmpls
sale. a. at hrst assumed, intO practically
loan, secured by pledge, deposit. or other dis
position Of the coin, and requires to it, legal
itv, that the contract shall be IN writing, OF
printed, signed and stamped to an amount equa
TO one half of one per cent. OF the prineipa
and interest, with settlement, at the rate OF si1
per cent per annum Of the sum loaned upon it
Transactions in gold dust are not affected By
the law. Very respectfully.
EDWARD MCPHERSON,
1