The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-12-14
eRocERS OPPOSED TO BILL.
WHOLESALERS no NOT WAIT
PRoMISsoRY NOTES STAMPED.


Telegram In Protest Was sent 20
senator J. Ferris Cann-Provi~ion
in the Proposed Tax Biu Calls for
the stamp of the Tax Receiver TO
wake Note Valid-Grocers say
This Would MEAN Trouble aud An
noyance BANKERS Indor.c the
Grocer-' Protest-Mr. Joseph FerSt
Talks of the Objections 90 the
Stamping OF the Notes-Grocers DO
MOI object 60 the Tax.
The Wholesale Groccrs' Association o.
Savannah was up IT, arms yesterday
morning when It's members read 90 the
Morning News. of the poyision in the
new tax bill that demands thar notes be
taxed and that they be stamped by the
tax receiver OF the county wherein they
arc held before they are valid The Tax
Committee OF the House estimated that
siooooooo in promissory notes that s. not
Dill become law. IL has passed the
House and Is now with the Senate
Senator J. Ferris Cam was wired hy
the Grooers' Association 20 induce HIS or
position to the bill The Wholesalers did
not know but that he was already ar
rayed against II. but they wanted him
To understand where they stood upon tho
question. The support Of the banks was
also enlisted by the grocers. ana ta-
Clearing House Association VIII do what
IL can against the measure.
The objection Of the Wholesale Grocsrs
Association to the bill. explained Mr.
Joseph Fcrst Of AZ. Fersts sons & Co.
is not 10 the taxation OF the notes, but
70 thai feature Of q which prescribes thar
they De stamped by the tax receiver. Mr
Ferst said that would mean no enc OF
trouble FOR houses that have 10 handle
great deal Of negotiable paper IL l. ffc-
quently the case that considerable hurry
attends the execution OF notes. ana 81
wound not always he possible 60 obtain
the stamp of the tax receiver within the
time necessary TO enable the c.osiug up o.
"a transaction upon the cate demanded
Mr. Ferst said tina, the largest bust
ness houses might not be pressed egouf
10 demand such a close shaving OF time
as to make Il difncult for them 20 meet
all their obligations under such q syf-
tenn regarding promissory notes as is pro
posed. bat there are many. h. said. that
would feel % keeuly n they fouud they
we're restricted In any way go the negotia-
ton Of their papers. some business houses
nave 10 work pretty closely ANA upon
rather small margins. ana the delay incl-
dent 20 having 10 chaae up tax receiver
for his stamp Ia order To validate a note
would mean considerable TO them
Another objection raised uy Mir Ferst
was that merchants would not care 90
have their affairs known so intimately hy
tax receiver as would be tho case
should he be assigned the duty OF stamp
ing all notes given by them when mer-
chants borrow money from tho banks
they do not care 10 have it known. b,-
Ieying 1t to be matter OF their own and
the banks concern.
The result OF the fight against tho bill
Will be awaited with interest DO seems
probable from Mr. Fersts statement. that
opposition would be removed 10 some pro-
vision other than that for the stamping
OF the notes could be- arranged. as the
merchants do not object Co the simple
FAX. The trouble and annoyance OF hay
ing notes stamped are the objections they
oner.
No other state that he knows OF. said
Mr.. Ferst. has such a tax as IL Is pro
posed 10 establish. and he does not see
why Georgia should seek 10 take the lead
n such a matter. Still he does uos op-
pose the tax itself. but he opposes the
plan OF having 70 stamp the notes for
them 10 be valid
n the bin should pass the senate and
he signed BY the Governor oil notes given
after Jan J. isdl. would have 90 bear the
stamp Of the tax receiver. which stamp
would cost something II Is understood
that tho tax is 20 be- az the rate placed
upon al property ~ the state. Notes.
therefore. would have to bear state
stamp as well as the war revenue stamp
required by the government.