The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1901-07-03
Bank CHECKS WILL Be FREE.
Revenue Stamp Tax Viii Bezof
July 1.
.
- ~

July
The troublesome revenue tax which
has been in force since July 1, 1893,
will at last be lifted on some Of the
chief articles in common use. 49,;
After the 1st of July people will no.
longer have to put the inevitable and
inconvenient 2-cent revenue stamp on
bank checks. .s
The amendment act of March 81
1901, will go into effect July 1sts. By
this act the tax will be lifted on many
of the most important taxable articles,
instruments and property. The lifted.
tax will affect chiefly the rank and file
of the people. tax still remains on:
many less common articles. s5sss
The necessity for a6ixing reyenueS
stamps continually since the Spanish
American war has been great hard
ship to the people. The tax was i'm
posed on things in common use among
the masses, and has been source of
great trouble and expense for the past
three years In the commercial and
business world, as well as annoyance
and cost to private individuals.
OF the many taxations imposed by;
the act of June 13 1898, the most seri
ously inconvenient have been lifted
under the act Of March, 2, 1901, to go5
into effect July 1st.
After Monday bank checks will no.
longer have to be stamped Telegraph
messages will not require that extra
cent heretofore imposed. Express res
ceipts and money orders will not need
revenue stamps. All patent medicines
will be released from their previous
heavy revenue tax. s5ss
Schedule B Of the act taxing medi=
#cinal proprietary articles and prepare
tions, such as cosmetics, chewing gum
perfumery, ETC., has been amendedby
elimination, leaving only the previous
tax on sparkling and other wines when:
bottled for sale. sssls,sss
Seats in parlor cars and berths:ins
sleeping cars are still taxed 1 cent the
stamp to be affixed to the ticket by
the company.
Tax on personal notes has been lift
ed and that on deeds, Instruments
conveyances, ETC., much reduced
Previously such documents were taxed
50 cents for value from s100 to $780,,
and so cents for additional value up
to S5, 600. Now only 25 cents imposed
for amounts between 81, 500 and So
600.
AS the revenue tax act now stands
since amendment, taxation falls large
" on corporations and holders Of large
interests rather than upon the popu-
lace. ss
The consequent penalty for not saffi1
ing necessary. revenue stamps vii, OF;
course, after Monday be removed
Documents formerly invalid dated BY
the lack of proper stamps will mo-
longer be subject to such laws,
The Troublesome necessity, so annoy
ING to business men, Of keeping on
hand supply Of stamps will largely
be relieved. The continuous cancella-s
ton of stamps by writing ones ini-
.tials and the.date on them will be-
sobviated.
Papers reqni ring stamps which have.
not been affixed are invalidated. They
cannot be recorded or admitted as eM7s4
dence in any court until proderly
stamped. 81
Single revenue stamps to the value
of 81, 600 have been issued.
Everybody is glad that the revenue
tax will be lifted. 1t is great relief
not to have to bother with licking
stamps on all occasions, making chick
en- feed change to pay telegaphlc toll
tar, etc, or TO procure stamped
check books.
Banks and business enterprises have
known of the lifting of some Of the
taxes since March and have been able
to prepare for it. Left over stamps,
stamped check books, ETC., may be
redeemed, however, by the revenue de-.
partment. Private individuals can
have redeemed such stamps or checks
at their banks by accommoda datlon.