The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1898-07-02
WHY STAMPS ARE SCARCE
Spectators Said to Be
Trying to Form a
Corner.

There was no change in the matter Of
the war tax stamps this morning. Deputy
Collector Farmer had not received his
supply yet from Washington, and brsf-
ness was transacted throughout the city
on the same plan as 1t was yesterday,
The Secretary of the Treasury yester-
day approved the recommendation Of
Commissioner Scott that hthographing
and printing establishments throughout
the United States should bSs notified that
the Bureau of Internal Revenue would
select in each city one establishments at
which bank checks could be imprinted If
the successful applicant agreed to cer-
tain conditions imposed by the depart-
ment
This action comes In the nature OF
surprise to those who bid for the com
tracts for printing these stamps. with
the expectation that they would be the
only ones having the right to furnish
these checks in their own territory, and
is the beginning of the attempt OF the
Treasury Department to prevent a pos
sible corner in the new internal revenue
stamps The idea that any one specu-
lator or set of Spectators would UNDER
take to make corner in Internal rsve-
nue. stamps seemed at first absurd, but
the bureau has good grounds for the be-
lief that it was not only attempted. hut
partially accomplished.
This explains to a great measure the
shortage in the supply of stamps at the
present time. Including those sent out
yesterday, about 175.0O0,OGo Of the new
revenue stamps have been shipped to coli
leetors Of internal revenue since the pass
sage Of the War Revenue act The esHi-
mate Of the number of stamps necessary
to supply the entire country was Dlacf al
at 2soeo0000 so that the collectors hssxe&
on hand tvo-thirds of the entire numberi
estimated to be necessary for rirsf
months business. and that the demane
from all over the country is almost Il 81
great as ever. Several days ago Commis-
sioner Scott came to the conclusion thatE
there was some reason for the OYER
whelming demand, and an investigation
convinced him that in certain cities
strenuous efforts were being made by
spectators to buy all the stamps in
sight.
Their object was to increase their prof.
its by selling stamps at premium. The
Government allows per cent. discount on
all stamps purchased in quantities sf S10o
or more SO that those who cared 10 enter
into the work of purchasing and retailing
these stamps had nothing to lose and We're
sure of at least / per cent. profit on their
investment Even if the Spectators
should be left with considerable supply
of stamps on their hands it would make
ut little difference to them. ecause II thsy
could not dispose of their supply theN
could have them redeemed the Govern
ment While the department is wiilsns
that retail dealers should have fair
profit, it was unwilling that they should
comine to squeeze the public.
Large Paiztfng.
The largest painting In the world. ex-
elusive of the panoramas and cyclOHansas.l
is Paradise, by Tintoretto. IN tha grand
salon of the Doge's Palace at Venice
The painting is eighty-four feet wide by
thirty-four feet high. If we consider ths
decoration of walls and ceilings, Tintor~l
etto,s work has been exceeded by Sir.
James Thornhills fine painting on the
ceiling of the great hall at Greenwich
Hospital 112 feet by Sc feet. Representing
the founders William III. and Queen
Mary surrounded by the attributes OF na~
tional prosperity.