Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1901-07-02
Large Numbers of Stamped Bank
Checks Being Turned in.
QUESTION OF THEIR RETURN IN DOUBT
Auditor and Commissioner of Internal
Revenue at Odds On the Subject =
Great Preparations Made for Repeal
of Revenue Laws.

The internal revenue bureau OF the
treasury department is now in daily
receipt Of large numbers Of blank
checks imprinted with 2-cent stamps
for redemption. After the first OF next
month ne stamps viii be necessary on
these media of exchange in the COM
merical world and the banks which
are loaded with stamp checks are
endeavoring even at this early date to
get rid OF the surplus stock as rapidly
as possible. 1t looks as if there
would be a perfect deluge OF stamped
checks pouring in upon the revenue
bureau, just is there was III 1888,
when rooms and corridors were filed
with the accommodations which came
every day by express and mail
Are at Odds.
1t is as yet an undecided question
whether the owner of stamped checks
will receive them again after he has
turned them in for redemption. In
1888 the stamped checks were punched
for cancellation and then given back
to their original owners, so that they
could be used At the present time
there seems to be misunderstanding
between the auditor of the treasury
and the commissioner of internal rev.
enue as to the course to be pursued,
the latter believing the auditor has
decided that when stamped check
has been submitted as a voucher for
claim it can not be returned This
does not coincide with the informal
statement made by the auditor recent
ly, and it will probably require an of
finia1 np1oT, from tho Gnprnforu of tho
treasury to finally settle the matter.
Inc demand for the return of the
stamped checks is very emphatic,
many business associations having
taken the matter up in earnest and in
sisting that if the stamped checks are
completely destroyed commercial
houses will suffer great loss.
Prepared for Change.
The officials of the internal revenue
bureau have already made prepare
tons for the changes which will &C.
cur in the stamp laws on the first day
of next month. The general public is
most deeply interested in bank check
stamps on telephone and telegraph
messages. These are all repealed. AL
together stamps are to be established
on twenty-six articles, and it is esti-
mated at the internal revenue bureau
mat the revenues will suffer a reduc-
ton aggregating from $40,000,000 to
SAT, 100000. The exact amount cannot
be. even fairly Appropriated, because
the accounts of the bureau have never
shown the items for which the stamps
were used. Everything has been
Jumped together under two heads =
documentary stamps and proprietary
stamps.
A Late Circular.
The latest circular issued by the
bureau for the guidance of persons in
terested in the redemption of stamps
states that the latter will be re-
deemed when presented in quantities
of 81 or more, face value, and no claim
for redemption will be allowed unless
presented within two years after the
purchase of the stamps from the gov
eminent. Claims for the redemption
of stamps must be prepared in the
district where the claimant resides
and forwarded by the collector of that
district to the internal revenue bu-
reau in this city. The circular of the
bureau states that under the law and
regulations all stamped instruments
and all imprinted checks, drafts, etc,
presented for the redemption of the
stamps thereon, must be retained with
the claim; therefore no such instru.
ments can be returned to the owners
thereof" But, as already stated, there
seems to be misunderstanding about
this matter and it is possible that the
checks will be returned.