The sun. [volume] (New York [N.Y.]) 1833-1916, 1865-01-31

ings. IL otter words ded csDceiici by ch-vck
is no ieya evidence ia, It 'ths debt bas Teen
psid
Aher reading your article Was struck whh me
eGact Log'c thereof, aud 81 sequouty discuss q ne
matter with business friends and lesI gent e1nen.
All admitted thai the views you eIpressed were
SOUND enough when TIE Internal ReVsnuo il" vas
strictly interpreted, but they agreed that no nom
orable creditor or business man would sfempt 70
deny payment tnaic undlr such oircumHthnces.
Although the courts might admit his elhm, 70,
wsnt ~ legal PROC, Of its payment not oeileVso
any jury would render verdict in favor Of the
creditor who based hs action upon the TACT thM an
Internal Revenue stamp ior money reccifs' hsl hV'
Teen attached 10 the cndoricmcnt On tue cheIk
gwen Ia payment u tbe -lIh Use
Tie cons grafton Of tIls matter hss led ne 10
rcic.. upon tue bearing judicial leci5on 10 'A7of
g.. mo creditor tunder ~ b circumstsnces) would
have upon bvsinoss affairs geOsrsiiy. hiLrrtl
thousands a dollars Lsse ucSn pad and rSelNcd
daily ~ our merchGa;S Vhoee cLeeks, alter eng
al clcI by payu .nt- y mt > v he PERSONS "a
~ Sc favot uey ar. drawn, have Ooca aeli W tie
Courts a. receipts for the amount pau. Tho In
trIaI Revenue law declares that no Fecetpt - Nt'i
uniess suitable revenue stamp has boei alta bel
to The document, and courts u law are prohibited
from deciding IN favor a any litgAnt who has not
compiler VIM tho pr1yisiohH 81 tA'a lS"' Ihuet
t",e circumstance, g.. nv u imI"r1ait that IN
sullNct susuld be brought " the attention o. inc
nal Revenue CommisAonrr, and II lac decides
thai checks gwen under Ne CIRCUMSTANCES are
recc'pt- then COugress Ou. " ie cAilcd uP'n 70
! mJdiiy the law, or dctine this provision iur MO
~, urity OF business men who pay Their indeOb d.
ness In this manu.r.
Yours dc, WALL staEEr.
Our correspondent has not Rad the law s-en-
lively, or he would have nolicei that Bank checks
are dislnctly taxed as chocks, s9d recap's Aro AZ
| portyoly taxed As receipts. The clock with It's
check stamp tnAy 10 a god enough receipts ~ far
as tho transaction Dctwcen the mskor and tho
Bank arc concerned; but IL eases 10 be reccipt IN
law, when OCcIel as the evidence Of . debt paid
| by other PARTIES. The addition Of . receipt stamp,
| by tho person endorsing It a. receipt Tor money
pah " HIM BY another party, would doubtless
rosdor Ac check legal receipts ami satisfy he
rcrIirvuruIa u tho Internal Revenue h". There
| Is no good reason for rsIuirnga special decision
from 4 & IniH. ss.oner, Or further action ON th'
rtrt Of CJngroi., The language Of iho IL" II
30 pa!n 10 be- uninterrupted, ami II business mrr
take the chances Of losing their money under Tho
clrcum siances, they should not complain II mulcte
| in the courts ~ some dishonest creditor. WI
agrce With our correspondent thai an authoritative
| decision wouH be- advantageous ~ our business
| men. AMI advice "Wal street." any one ola
who is iuisrcstc, 30 .Lircss the proper authoriue
upon he .uhlect. We are confident tha the Com
missioner vii decide in accordance with cur con
yict,ns Il the Law, and the soontr such decision
Is made known to the mercantile community tn
ot,er for all who have neglected to attach the pro
per revenue stamp - checks taken AZ receipts 70
money pad