Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1864-07-29
The New Stamp Act.

| The new Internal Revenue Act has Just
been published by authority" The act
is of great length, containing one hundred
and eightytwo sections and covering one
hundred pages of the usual size of Congress
sional publications. The act is an entire
revision of the former acts regulating the
internal revenue, and these are consequent
ly repealed. The whole system is thus
greatly simplified and reduced
Some very material alterations are
made in the act regulating the different
items oil revenue, and especially in the
provisions respecting stamp duties. Some
of these are the following: This part of
the act goes into effect on the first day of
August next.
After the law goes into effect it shall
not be lawful to record any instrument
unless stamps of proper amount shall be
first affixed, and if sufficient stamp shall
not be 50 affixed the deed is void whether
recorded or not except that u bona fde
purchaser claiming under a deed thus in
sufficiently stamped shall hold his title
good. In all cases where there is any
question whether, there should be Il stamp
or not, or how large an one, the collector
shall decide, and his decision signiied OH
the stamp or instrument shall be conclu-
sive. In all cases of insufficient stamps
which have existed before the passage of
the act. the deficiency may be supplied
when the instrument is offered in Court or
otherwise used. All foreign bills Of ex-
change must be stamped here before being
paid or accepted. Additional and severe
penalties are provided against the use of
stamps Il second time, and to enforce the
use and cancellation of stamps as well as
to prevent all frauds, cyasions, counter
tciting, &c.
Among the changes in the duties re-
quired to be paid are the following All
bank checks without regard to the amount
must BE- stamped, there being no exception
of checks under $25. Promissory notes
and all contracts for payment OF money
whether on demand or on time, not cx-
cecdng 500, five cents; aud for every
additional hundred dollars or fractional
part thereof five cents; time of payment
does not affect the amount. Inland bills
of exchange, and those drawn i'll the
United States payable elsewhere singly,)
not at sight or on demand, pay the same
duty as notes. Sight drafts and these on
demand are regarded as checks and pay
two cents only. Foreign bills drawn in
sets of three or more, two cents for each
part not exceeding 500, and two cents
for each additional 800 or fraction thereof.
Bills Of sale of vessels where the consid-
Grafton i 500 or less, 80 cents, and for
every additional 500 or fraction thereof,
30, cents. Official bonds $l,00. Deeds
where the consideration or value does not
exceed 500, fifty cents. This embraces
all deeds of however small value, and for
every other decd a further duty of 80 cents
is TO he paid for every additional $500 or
fractional part thereof. Mortgages and
personal bonds for the security of payments
exceeding 500, pay the same duty as
deeds OF conveyance, and for every as
>gnment OF mortgage, lease Of policy of
insurance. the SAME duty is cXacted rs tl.at
imposed on the original instrument
Leases pay 50 cents where the annual rent
is not more than $500. and where the rent
exceeds that sum an additional sum Of 50
cents is cXactcd for every $500 or fraction
ul part thereof. Receipts for more than
80 in money pay two cents except dis
charges Of mortgages and Judgments
Municipal and police court wrlts are cx-
pres,ly exempt from stamp duty as are
also atlidaVits i'll legal proceedings.
Matetes III parcels or packages contain
ing 100 or less, for each parcel or package,
one cent, and the same duty toreycry addi
tional 100 or fractional part thereof. and
for cigar lights and wax tapers doubled
the dpty required for matches, after Sept.
lst next. Photographs and other sun
pictures, two cents where the retail price
does not exceed 25 cents--ovcr 25 and not
over 30 cents. three cents-ovcr 50 and
not exceeding 81, five cents, and for every
adlitianal dollar, five cents. Playing
cards pay duty Of two to fifteen cents
per pack.
Several other alterations are made in
the schedule, the above being notice of
OF the more important onl lFhig.
A. W. Z