The news and herald. (Winnsboro, S.C.) 1877-1900, 1898-06-28
THE PEOPLE MUST PAY FOR 1T.

United States will begin to pay war
taxes. The war has been costing at
the rate of about a million dollars a
day, and the Government has pro-
vided revenue law to raise part Of
thssexpenses.
The act goes into effect from and
after next Friday, and failrre 70 COM
ply with its terms -nsy give riss to
very serious consequences. Many
people will not see a copy of the law,
and in order that they may know in q
general way what are taxed, We shall
give brief summary, selecting those
features of the law which will most
likely concern our own people.
Bankers, using or employing a
capital not exceeding $4,000, are re-
quired to pay a tax Of $50; when
using or employing a capital exceed.
ing $25, 900, two dollars for every ad-
ditional thousand in excess of $25, 900.
Surplus shall be considered 3 part OF
the capital.
Commercial brokers are taxed
twenty dollars. By commercial broker
is meant every person, frm or CON-
psny whose business it is as a broker
to negotiate sales or purchases of
goods, wares, produce, or merehan-
disc, Or negotiate freighte, &c.
It is matter Of practical Importance
toknow how much in stamps, and what
papers are required to be stamped.
Tbs best thing to do when you have
any business transaction is TO examine
the act itself, Or consult some one
competent to advice you. we give
the following however for general
information:
All bonds, debeuturse, or certificates
Of indebtedness issued after the frst
Of July by any association, company,
or corporation, On each hundred dol
lars of the face value or fraction
thereof, five eents; and on all sales,
or agreement to sell, or memerands
of sales or deliveries or transfers OF
shares or certificates Of stock in any
association, company or corporation
whether shown upon the books OF
such association, company, or coipo.
ration, or by any assignment in blank,
or by sLy delivery, or by any paper
&c, on each hundred dollars of the
face value or fraction thereof, two
cents. T1aats ts-axsts last stswould seem to In
cluds the deposit of certificates OF
stock as collateral security for the
payment of q debt.
Bank checks, drafts, or certificates
of deposits not drawing interest, or
order for the payment of any sum Of
money, drawn upon or issued by any
bank, trust company, or any persons,
companies, OF corporations at sight Or
on demand, two cents.
Bill of exchange Gnland), draft,
certificate Of deposit drawing interest.
or order for the payment of any sum
of money, otherwise than at sight or
on demand, or any prcmissory note
except bank notes issued for circula-
ton, and for each renewal of the
same, for = sum not exceeding one
hundred dollars, two cents; and for
each additional one hundred dollars
or fractional part thereof in excess OF
one hundred dollars, two cents.
Bonds, for indennifying any person
or persons, frm, or corporation, for
the payment Of any sum o money, or
for the duo execution or l':'. tor1nance
Of the duties Of any Office or position,
and to account for money received,
and all other bonds Of any description,
except such ss may be required in
legal proceedings, fifty cents. All
deeds. instruments or writing, where
by any lands, tenements, or other
realty sold shall be granted, when the
consideration or value excesds one
hundred dollars and not oyer five
hundred dollars, fifty cents; and for
each additional Eve hundred dollars
or fractional part thel leof in excess OF
ave hundred dollars, fifty cents.
Lease, agreement, !memoraadum, Or
contract for the rent Of land, or tene-
ment-when tor not exceeding one
year, 25 c; when for more than a year
and not exceeding two years, fifty
cents; when for mere than three years,
one doiiaf. ~7sas,,.,<
Mortgages Of lands~or personal
property, deeds of trust &C., intended
to secure any definite and fixed sum,
on one thousand dollars and not ex-
cesding one thousand FIVE hundred
dollars, twenty-five cents. All trans
fsrs or assignments Of a mortgage,
lease, or policy Of Insurance, or the
renewal or continuance of any ogree-
ment, contract or charter, a stamp
duty Is required and must be paid at
the same rste as that imposed on the
original instramsnt. Power OF at
torney to sell lands &C., twenty-five
coufe