Evening star., 1901-06-27
Changes to 60 Into Effect on Next
Monday.
CONDITIONS OF REDEMPTION
Gain to Government From I'M
printed Bank Checks.
MODIFIED SCH E D q L E

ment will begin to decrease, and the eStf-
mate now is that at the end OF the next
fiscal year the total will be 100000 900 to
$50. O0O, 600 less than II there had been no
changes in the internal revenue laws. This
great falling off. IL the expectation Of gov
ernment experts is realized, will be due to
the amendments to the war revenue act en-
acted by Congress at its last session. AL
though the government will be getting in
less money, the internal revenue bureau
will have more work to do for awhile than
It had while looking after the laws that
brought In the large sums Of revenue. This
will be due to the immense amount Of work
incident to the redemption Of the stamps in
possession Of business men and the public
and to the changes that are to be made in
the stamp laws.
Stamps of all kinds are already being re-
received for redemption. and for a month
or more after July l the question at the
internal revenue bureau will be where to
place this mass Of paper. The most val
liable stamps will be placed In vaults until
settlement Is made with the persons who
sent them in, but the vaults Will not hold
all the stamps that are returned and room
must be made somewhere for the others.
The prospect now is that the Railways will
have to be utilized.
Bank Check Stamps.
The class Of stamps coming in most rap
idly now are those printed on bank checks.
The stamps cannot be removed from the
checks and so the banks send all along.
The work Of redeeming this class of stamps
will be a. big Job In itself. Whether the
stamped checks will be returned after can
collation. is not fully decided. although 1t
is now probable that they will be kept
lation Of the stamps would not affect the
value Of the checks for use later. Many
banks use valuable checks, the printing OF
which is worth something.
A circular sent out some time ago by the
commissioner of Internal revenue stated
that stamps would be redeemed when pre-
sented in quantities OF 81 or more, and
claims will not be good If presented after
forwarded to the collector Of the district
wherein the claimant resides and he will
send them to the commissioner Of internal
revenue
A Gain to the Government.
The fact that redemptions will not be
made in sums less than 81 will result in a
gain to the government and loss to hold
ers. as thousands Of dollars in stamps will
never be presented. No one individual will
lose much, but the aggregate will be con-
siderable An estimate has been made that
in New York city the total loss may be
$4,000. and throughout the country over
81, 100000. The process of making a claim
ioi ieoeuiptlOi Is d iOuS anu lcOlOuS one,
costing some money in paying for affida-
Wits. etc. The trouble and expense OF pack
Ing will also operate against many persons
returning stamps. A bank depositor with
care to give this book up just to get few
dollars in return when the trouble would
be considerable.
Conditions of Redemption.
The internal revenue bureau fears some
difficulty through failure Of banks. sta
TONERS and holders of check books with
stamps to redeem to appreciate the condi-
tions under which that will be done. Banks
or stationers. as stated, cannot make
claims as general agents for their customers
for the redemption Of imprinted stamps
purchased from them. since the stationers
and bank officers would not be able to
make affidavit that their customers are not
indebted to the United States and to all
the other things which the law requires.
Banks or stationers may, however, purchase
the imprinted stamps outright which they
sold to their customers. and as the bona
hde owners thereof present claims in their
own name for redemption. But in such
cases 1t will be necessary. in addition to
evidence now required In support Of
claims for each one to be accompanied by
a certificate duly signed by the party from
whom the stamps were purchased setting
forth the absolute sale and transfer to the
claimant
A schedule must also be prepared by the
purchased from each customer; his name,
the date of order upon which they were
imprinted, the name of the collector who
issued the same, and OF the contractor who
imprinted them. Any number of such pur-
chases may be covered with one claim. but
each lot of stamps purchased from a GUS
toner should be wrapped separately and
each package so marked that it can be
identified on the schedule and by the GER
tif1cate of SALE
1t Is the purpose Of the internal revenue
bureau to make the redemptions as fast as
possible, and settle with the owners of
stamps. The cash account Of the treasury
will be materially lessened when the pay
ments redemptions begin to be made
with activity.
Changes in the Law.
The changes made in the Internal revenue
laws are shown in the following schedule:
Repealed.
These items have been repealed outright:
Bank checks, 2 cents.
Bills Of lading for export, 10 cents
Bond or obligation by guarantee COM
pany. u cent on each 81.
Certificates Of damage, 25 cents.
Certificates Of deposit. 2 cents.
Certificates not otherwise specified. 10
cents.
Charter party, 50 to SO.
Chewing gum. cents each 81.
Commercial brokers. 500.
Drafts, sight. cents.
Express receipts, cent.
1nsurance-Life. 8 cents on each 800; ma
rine. inland. fire. u cent on each 81: casual
ty, fidelity and guaranty. u cent on each 81.
Lease. 25 cents to 81.
Manifest for custom house entry, 81 to S.
Mortgage or conveyance in trust, . cents
for each 1900.
Order for payment Of money on sight or
on demand.
Perfumery and cosmestics, " cent for
each cents.
Power of attorney to vote, 10 cents
Power Of attorney to sell. Is cents
Promissory notes, 2 cents for each $780,
Proprietary medicines. v cent for each s
cents
Protest. 25 cents.
Telegraph messages, cent
Telephone messages, cent
United States money orders, 2 cents for
each $1OO.. -o-
Warehouse receipts. % cents.
Nodded. ..
These items have been modified:
Beer. G per barrel. and ~ per cent dis
count. changed to leo per barrel, and TX
per cent discount repealed.
10 aR