The commissioner decides that, when the maker of a document neglects to put on the required stamp, it will not do for the party receiving the same to affix the stamp, and cancel it, but it must be returned to the maker for him to do it. (Com'r Boutw., N. Y. Trans., Oct. 31, '62.) Whenever an instrument is executed by several parties acting jointly, one stamp only is required, which may be affixed and canceled by either of the parties. (Id., N. Y. Trib., Jan. 7, '63.) In stamping instruments requiring stamps, two or more of a smaller denomination may be used in numbers sufficient to amount to the sum of the stamp required. (Id., Decis. No. 30.) All papers, except bills of exchange, made and issued in foreign countries, which are to have effect in the United States, and which, if made and issued in the United States, would require a stamp, must be stamped, and the stamp canceled by the maker at the time and place of issue. This practice conforms to the English system in that particular. (Com'r Boutw., N. Y. Trans., Jan. 2, '63.) ARTICLE 5. PENALTY FOR NOT USING STAMPS. If any person "make, sign, issue, or cause to be made, signed, or issued, any instrument, document, or paper, of any kind," without a stamp, the penalty is $50; and the instrument or paper is to be deemed invalid and of no effect (§ 95). But see statement of amendment of this section in section 1, above. Bills, notes, &c.-The penalty for making and issuing, or accepting or paying, an unstamped bill of exchange, draft, order, or promissory note, for the payment of money, requiring a stamp, with design to evade the duty, is $200 in each case. (§ 100.) ARTICLE 6.-CANCELING STAMPS. The person using or affixing the stamp must cancel the same by writing thereon the initials of his name, and the date of affixing it. (§ 99.) The penalty for fraudulently neglecting to cancel and obliterate the stamp is $50 forfeiture. (1b.) An exception is made in the case of stamps on proprietary articles. See PROPRIETARY ARTICLES, infra, By the amendatory act of March 3, 1863 (§ 7), the commissioner is authorized to prescribe such method for the cancellation of stamps, as a substitute for, or in addition to, the method now prescribed by law, as he may deem expedient and effectual. The cancellation may be done by a hand-press, with the initials of the person using the stamp, and date, changed daily. A faithful compliance with the requirements of the law requires that the stamp so affixed must be canceled, in the manner prescribed, by the party making, signing, or issuing; in other words, executing the instrument, document, or paper. Section 99 provides, "that the person using or affixing the stamp shall write thereupon the initials of his name, date,” &c. Other portions of the law impose penalties upon persons who receive documents or articles subject to stamp-duty, from the person who makes, signs, and issues them, without being duly stamped, &c. A faithful compliance with the requirements of the provisions of the excise law demands First, That all papers subject to stamp tax shall have the stamp affixed before the same is issued. Second, That the stamps so affixed must be canceled in the manner prescribed, by the party making, signing, or issuing (in other words, executing) the instrument, document, or paper. Hence, the receiving of an unstamped paper is a violation of the law. The attaching and canceling of a stamp on a document so received, is also unlawful; and the cancellation of a stamp on a paper (otherwise lawfully issued) by other than the party executing the paper to which the stamp is affixed, is equally improper. The only exception that exists, in the law, to the above ruling, is in the case of a bill of exchange, or order for the payment of any sum of money drawn, or purporting to be drawn, in any foreign country, but payable in the United States, in which case the acceptor or acceptors shall, before paying or accepting the same, place thereupon a stamp, indicating the duty upon the same, as provided by section 101 of the excise law. (Com'r Boutw., Decis. No. 34.) The omission to cancel the stamp on a check does not invalidate it, but the maker is liable to $50 fine, J S ARTICLE 7.-COUNTERFEITING STAMPS. Forging, counterfeiting, or using forged or counterfeited stamps knowingly, and fraudulently cutting or tearing a stamp from an instrument, or aiding and abetting it, is declared a felony, and, on conviction, the convicted party must for-feit the counterfeited stamps, and the articles upon which they are placed, and may be punished by a fine not exceeding $1,000, and by imprisonment not exceeding five years. (§98.) ARTICLE 8.-COMMISSIONER TO STAMP INSTRUMENTS EXEMPT FROM DUTY. Any person may present to the commissioner any instrument, and require his opinion whether or not it is chargeable with duty. If it is his opinion that it is not chargeable, he is required to impress thereon a particular stamp, signifying that such instrument requires no stamp. And every such instrument, so stamped, "shall be received in evidence in all courts of law and equity, notwithstanding any objection made to the same as being chargeable with stamp duty, and not stamped." (§ 103.) CHAPTER II. INSTRUMENTS REQUIRING STAMPS ENUMERATED. [Following are the instruments, documents, papers, &c., enumerated in Schedule B as subject to stamp-duty.] Acknowledgment, or proof of an instrument by attesting witnesses, is not a certificate requiring a stamp. (Act of March 3, '63, § 6.) Affidavits do not require stamps. "Sworn to," &c., is not a certificate. Com'r Lewis, however, holds the contrary view. See page 333. Agreements or contracts, other than those specified in Schedule B, require, for each sheet or piece of paper used, a stamp. .5 cents. The only other contracts specified in Schedule B are contracts for the charter of vessels, &c., and brokers' memoranda of sales, which are marked "contract;" and now, contracts for the sale or purchase of coin, though many other of the specified objects amount, in law, to contracts. An "agreement or contract," therefore, must cover every conceivable obligation in writing by which the parties bind themselves to do, or not to do, anything; and which would be evidence against both the contracting parties. See CONTRACTS. See DECISION ON p. 313. When an instrument contains agreements of several kinds, each of which, if separate, would require a stamp, it is necessary to affix a stamp equal to the aggregate amount of all the stamps required for the different agreements, if separate. Thus, Com'r Boutwell decides that a power of attorney "to sell stock, to vote at an election, to collect rent, and to sell real estate," requires a $1.60 stamp. (N. Y. Trans., Oct. 31, '62.) An assignment of a mortgage, containing a guaranty of collection, requires an agreement stamp, in addition to the mortgage stamp. Permits or agreements, by which the terms of a policy are varied or changed in any respect, require "agreement" stamps. (Com'r Boutw., Decis. No, 35.) Appraisements of value or damage, or for any other purpose, for each sheet or piece of paper used.. 5 cents Assignments or transfers of mortgages, leases, and policies of insurance, require stamps equal to those imposed upon the original instrument. This is one of the amendments adopted March 3, 1863, and renders inapplicable several decisions by the commissioner, to the effect that "assignments" require no stamp. Assignments of other than the above instruments cannot now be deemed to require any stamp. But where an assignment-e. g., an assignment of a mortgage-contains a guaranty of amount due thereon, or of collection thereof, it is subject to tax as an "agreement." The same is true regarding assignments of letters patent. (Com'r Boutw., N. Y. Trans., Jan. 16, '63.) As to assignments by trustee, see p. 310. Bills of Exchange (INLAND).-Drafts, orders or notes for the payment of any sum of money exceeding If payable at any time over 33 and not over If payable at any time over 63 and not over If payable at any time over 93 days and not ing grace. 1 cent. 2 cents. 3 66 4 66 6 10 This is one of the amendments adopted March 3, 1863 (§ 6, p. 287, infra), and very greatly modifies the law in respect to stamps on inland bills, drafts and promissory notes. Before the amendment, the stamp-duty was rated entirely according to the amount of the instrument; as the law now stands, the time also controls the stamp. The duty on sight drafts, checks, &c., is not altered by the late amendments. (FOREIGN), or letters of credit, drawn in, but payable out of, the United States, if drawn singly or otherwise than in a set of three or more, according to the custom of merchants and bankers, same rates as inland bills, above. If drawn in duplicate, both must be stamped. |