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Assignment of lease, same stamp as original instrument, and the value or consideration of the transfer at the same rate as a deed. See "Conveyance.'

Letters of Administration. See "Probate of Will.”

Letter of Credit. Same as Bill of Exchange, "Foreign." Manifest for custom-house entry or clearance of the cargo of any ship, vessel, or steamer, for a foreign port :

If the registered tonnage of such ship, vessel, or steamer does not exceed 300 tons,

Exceeding 300 tons, and not exceeding 600 tons,

Exceeding 600 tons,

[These provisions do not apply to vessels or steamboats plying between ports of the United States and British North America.]

Measurer's Returns,

Memorandum of Sale, or Broker's Note. See "Contract.”
Mortgage of Lands, estate, or property, real or personal, herita-

ble, or movable whatsoever, a trust deed in the nature of a
mortgage, or any personal bond given as security for the
payment of any definite or certain sum of money exceeding
$100, and not exceeding $500,

Exceeding $500, and not exceeding $1,000,

And for every additional $500, or fractional part thereof in excess of $1,000,

Upon each assignment or transfer of a mortgage, a stamp
duty equal to that upon a mortgage for the amount remain-
ing unpaid.

Order for payment of money, if the amount is $10 or over
Passage Ticket on any vessel from a port in the United States
to a foreign port, not exceeding $35,
Exceeding $35, and not exceeding $50,





50 cts.

$1 00

50 cts.

2 cts.

50 cts.

$1 00

And for every additional $50, or fractional part thereof in excess of $50,


[Passage tickets to ports in British North America do not require stamps.]

5 cts.

25 cts.

Pawner's Checks,

Power of Attorney, for the sale or transfer of any stock, bonds, or scrip, or for the collection of any dividends or interest thereon,

Power of Attorney or proxy for voting at any election for officers of any incorporated company or society, except religious, charitable, or literary societies, or public cemeteries, Power of Attorney to receive or collect rent,

Power of Attorney to sell and convey real estate, or to rent or lease the same,

Power of Attorney for any other purpose,

[Power of Attorney or other papers relating to applications
for bounties, arrearages of pay, or pensions, or receipts
therefor, require no stamp. See, also, Warrant of Attor-
Probate of Will, or letters of Administration, where the estate
and effects for or in respect of which such probate or letters
of administration applied for shall be sworn or declared not
to exceed the value of $1,000,

Exceeding $1,000, and not exceeding $2,000,
Exceeding $2,000, for every additional $1,000, or fractional
part thereof,

"Provided, That no stamp tax shall be required upon any papers
necessary to be used for the collection from the Govern-

10 cts.

25 cts.

$1 00

50 cts.

exempt. $1.00

50 cts.

ment of claims by soldiers or their legal representatives of
the United States, for pensions, back pay, bounty, or for
property lost in the service." The reduction of taxes pro-
vided in this section shall take effect on and after March 1,

Promissory Note. See "Bill of Exchange," Inland.
Deposit note to mutual insurance companies, when policy is
subject to duty,

Renewal of a note subject to same duty as an original note. Protest of note, bill of exchange, acceptance, check, or draft, or any marine protest,

Quit Claim Deed to be stamped as a conveyance, except when given as a release of a mortgage by the mortgagee to the mortgagor, in which case it is exempt; but if it contains covenants may be subject as an agreement or contract. Receipt for satisfaction of any mortgage or judgment or decree of any court,

Receipts for the payment of any sum of money or debt due, or for a draft or other instrument given for the payment of money, exceeding $20, not being for satisfaction of any mortgage or judgment or decree of court. See "Indorsement."

Receipts for the delivery of property,

50 cts.

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25 cts


2 cts exempt

Renewal of Agreement, contract, or charter, by letter or other

wise, same stamp as original instrument.

Sheriff's Return on writ, or other process,


Trust Deed, made to secure a debt, to be stamped as a mort


Warehouse Receipts,


Warrant of Attorney accompanying a bond or note requires no stamp if the bond or note is stamped.

Weigher's Returns,


Writs and other process in any criminal or other suits commenced by the United States or any State,


*Official documents, instruments, and papers issued by officers of the United States Government,


*Official instruments, documents, and papers issued by the officers of any State, county, town, or other municipal corporation, in the exercise of functions strictly belonging to them in their ordinary governmental or municipal capacity,

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Revenue stamps may be used indiscriminately upon any of the matters or things enumerated in Schedule B, except proprietary and playing card stamps, for which a special use has been provided.

Postage stamps cannot be used in payment of the duty chargeable on instruments.

It is the duty of the maker of an instrument to affix the stamp thereto and to cancel the same in the manner required by law. Proper cancellation is essential.

Under the provisions of section 158, an instrument subject to stamp duty, but issued without a stamp or with an insufficient one, may be so stamped by the Collector as to be as valid to all intents and purposes (except as against rights acquired in good faith before such stamping and the recording of the instrument, if a record be required) as if properly stamped when made or issued. Such an instrument issued at a time when and in a place where no collection district

was established may be stamped by the party who issued it or by any party having an interest therein at any time prior to January 1, 1867, and the legal effect of the stamp thus affixed will be the same as though affixed by the Collector. When orignals are lost the necessary stamps may be affixed to copies.

Certificates of Loan, in which there shall appear any written or printed evidence of an amount of money to be paid on demand, or at a time designated, are subject to stamp duty as "Promissory Notes."

When two or more persons join in the execution of an instrument, the stamp to which the instrument is liable under the law may be affixed and cancelled by either of them; and "when more than one signature is affixed to the same paper, one or more stamps may be affixed thereto representing the whole amount of the stamp required for such signatures."

No stamp is required on any warrant of attorney accompanying a bond or note when such bond or note has affixed thereto the stamp or stamps denoting the duty required; and whenever any bond or note is secured by mortgage, but one stamp duty is required on such papers, such stamp duty being the highest rate required for such instruments, or either of them. In such case a note or memorandum of the value or denomination of stamp affixed should be made upon the margin or in the acknowledgment of the instrument which is not stamped.

Particular attention is called to the change in section 154, by striking out the words "or used;" the exemption thereunder is thus restricted to documents, &c., issued by the officers therein named. Also to the changes in sections 152 and 158, by inserting the words "and cancelled in the manner required by law."

Attention is also called to the amendments of March 2, 1867, in text. The Schedule has been made to conform as nearly as possible to the changes in the Law, both in phraseology, rate and otherwise.


The Income Tax for 1867.

THERE is no part of the official duty of an assessor and his assistants of greater importance than the assessment of the tax on annual incomes. The officer meets with many obstacles in the performance of his work, and there are inherent difficulties in the matter, both in ascertaining the true income of the tax-payer, and establishing the proper basis of assessment: not to speak of the strong temptation to, and the frequent instances of concealment, fraud and downright perjury. The editor proposes to submit a succinct analysis of the provisions of law, which have just been enacted (March, 1867,) and append some of the rules and instructions, heretofore established by the department, and a few suggestions drawn from his own experience in administering the system. Immediate instructions are to be expected also from the Commissioner of Internal Revenue. (Vide letter of Commissioner, of March 6, 1867, appended.)

LAW OF MARCH 4, 1867.

1. The tax is levied upon the gains, profit and income from January 1, 1866, to December 31, 1866, of every resident of the United States, or citizen residing abroad.

2. All gains are included, whether derived from rents, interest, dividends, salaries, professions, trade, employment, vocation (wherever carried on) or from any source, or from any kind of property.

3. The tax is 5 per cent. in all such gains, &c., over $1,000, and is assessed as of March 1st, 1867, and payable on or before April 30, 1867.

4. In the estimate shall be included :

a) Interest upon notes, bonds, or other U. S. securities.

(b) Profits realized from sales of real estate within the year, or within two years previous to the year 1866.

(c) Interest received or accrued on all notes, bonds, or mortgages, or other interest bearing form of indebtedness whether paid or not, if collectable, less interest due from the tax-payer.

(d) All premiums on gold and coupons.

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