The weekly times-record. (Valley City, N.D.) 1912-1922, 1916-09-14
STAMP TAX ABOLISHED

the last two years, are for the most
part abolished, beginning Saturday;
and it is estimated that in this county
alone many thousands of dollars will
be saved annually.
The abolition Of the war tax, as it
is generally known, comes about
through the changes made in framing
the new emergency revenue bill, which
became enectlve saturday.; and while
the scope OF the stamp tax was very
wide and covered almost everything III
the way or Injuries, and many neces-
sites, the new law makes important
changes. The tax is not removed from
liquor, but has been modified cOnsid-
erably, it is understood; and it is be-
lieved that tobacco still has to produce
additional revenue for the govern
ment but the tax has been eliminated
from almost everything which affects
everyday life of the average citizens.
An important fact in connection
with the new stamp tax provisions is
that those having on hand unused tax
stamps and having no further use for
them under the new law, may redeem
them at any time within the next two
years.
1t is uncertain, so far as knowledge
here is concerned, just what commod-
tiles are still taxed, but word was re.
ceived here today which makes certain
Schedules A and B of the old law
have been eliminated. These contain
provisions covering the most import
ant items to the average citizen.
The old stamp tax law was passed
by congress in October, 1914, and be.
came law Dec. l, that year. 1t was
provided that it would hold for one
year with the option Of re-enactment
In view of the fact that restricted con-
ditions, caused by the war, had not
been alleviated at the end of a year,
the law was re-enacted last year.
Under the release Of the stamp tax,
nearly all financial transactions, such
as the making of a promissory note,
issuing Of bonds, etc.. are released, and
SO are all grain trades.
The items released from the stamp
tax by the provisions of the new law
are as follows:
Bonds, debentures or certificates of
Indebtedness issued by any associa-
ton, company or corporation, 5 cents
on each 500 of face value or fraction
thereof.
Certificates of stock on organiza ton
or reorganization to same amount;
transfers of stock, cents on each
500 of face value or fraction thereof.
Sales, agreements of sale or agree
ments to sell any product or merchan-
disc at any exchange, board of trade
or similar place; either for present or
future delivery, cent for each 500 or
fraction thereof involved
PromissOry notes, except bank notes
for circulation, and for each renewal,
2 cents per $500 or fraction
Express and freight bills of lading,
l cent.
Telephone and telegraph messages,
/ cent.
Indemnifying bonds, and all other
similar bonds, so cents.
Certificates of profit, etc., 2 cents.
Certificates of damage or otherwise,
and all certificates used by any port
warden, marine surveyor or other per-
son acting as such, Is cents.
All certificates required by law, 10
cents.
Contracts, brokers' note of memo
randum of sale, 10 cents.
Deeds, etc., so cents for each $500 of
value.
Entry of any goods in custom house
or for withdrawal of such goods.
Insurance policies of all kinds.
Passenger tickets for passage to a
foreign port, costing more than $40.
Power of attorney or proxy for vot-
ing; power of attorney to sell real
estate or rent or lease.
Protests OF notes, bills of exchange,
acceptance, check or draft.
Every seat sold in a palace or par
lor car and every berth in sleeping
car. =
Perfumery and cosmetics, chewing
gum.