when such packages are opened, the articles should not, under any cir cumstances, be offered or exposed for sale until they have been appropriately stamped. E. A. ROLLINS, Commissioner.

81.

Assignment of Lease-Assignment of Rents, &c.

An assignment of a lease within the meaning and intent of Schedule B, is an assignment of the leasehold or of some portion thereof by the lessee, or by some person claiming by, from, or under him, such an assignment as subrogates the assignee to the rights, or some portion of the rights, of the lessee, or of the person standing in his place. A transfer by the lessor of his part of a lease, neither giving nor purporting to give a claim to the leasehold, or to any part thereof, but simply a right to the rents, &c., is subject to stamp tax as a contract or agreement only.

82.

Jurats Administered by Revenue Officers.

The words "or used" were stricken out of section 154, by the act of July 13th, 1866. When a. Notary Public or Justice of the Peace administers the oath to an assistant assessor, upon his monthly account for services, a five cent stamp should be affixed to the jurat. No stamp will be required when the oath is administered, and the jurat issued by an assessor, assistant assessor, collector, deputy collector, revenue agent, or inspector.

83.

Subscription Lists, Contracts, Promissory Notes.

When a subscription is for a purpose in which there is a community of interest among the subscribers, the list should be stamped as a contract, or agreement, at the rate of five cents for each sheet or piece of paper upon which it is written.

When there is no community of interest, and the subscription is conditional, each signer executes a separate contract, requiring its appropriate amount of stamps; this amount depends upon the number of sheets or pieces of paper upon which the contract is written.

When each of the subscribers contracts to pay a certain and definite sum of money on demand, or at a time designated, the separate contract of each should be stamped at the same rate as a promissory note.

84.

Payment for and affixing of Stamps-Penalties.

The law does not designate which of the parties to an instrument shall furnish the necessary stamp, nor does the Commissioner of Internal Revenue assume to determine that it shall be supplied by one party rather than by another; but if an instrument subject to stamp duty is issued without having the necessary stamps affixed thereto, it cannot be

recorded, or admitted, or used as evidence, in any court, until a legal stamp or stamps, denoting the amount of tax shall have been affixed as prescribed by law, and the person who thus issues it is liable to a penalty, if he omits the stamps with an intent to evade the provisions of the internal revenue act.

85.

Bills of Sale of Vessels-Contract for Transfer of Property. The stamp tax upon a bill of sale, by which any ship or vessel, or any part thereof, is conveyed to, or vested in, any other person or persons, is at the same rate as that imposed upon conveyances of realty sold; a bill of sale of any other personal property should be stamped as a contract or agreement.

86.

Stamp Tax on Canned Goods, &c.

All canned goods sold or offered for sale after October 1, 1866, were required to be stamped as specified in Schedule "C," of act of July 13, 1866. When they have been packed in cases, and it would be difficult to unpack them, the law will be substantially complied with, by enclosing to the purchaser a sufficient number of cancelled stamps. (Letter of Commissioner, Oct. 3, 1866.)

87.

Stamp Tax on. Syrup in Cans.

Syrups when put up in cans, bottles, &c., are liable to a stamp tax of one cent, when the packages with their contents do not exceed two pounds in weight respectively. When exceeding two pounds in weight, one cent for every additional pound or fractional part thereof. When not put up in cans, bottles, &c., they are liable to an ad valorem tax of 5 per cent. (Letter of Commissioner, Oct. 11, 1866.)

88.

Stamp Tax in the late Insurrectionary States in force from October 1, 1862.

The first act imposing a stamp tax upon certain specified instruments, took effect, so far as said tax is concerned, October 1st, 1862. The impression which seems to prevail to some extent, that no stamps are required upon any instruments issued in the States lately in insurrection, prior to the surrender, or prior to the establishment of collection districts there, is erroneous.

Instruments issued in those States since October 1st, 1862, are subject to the same taxes as similar ones issued at the same time in the other States.

89.

Administrators, Executors, and Guardians' Bonds.

The official bonds of administrators, executors, and guardians, arè

subject to a stamp tax of one dollar each, as bonds for the due execution, or performance of the duties of an office.

90.

Instruments to which the U. S. is a party.

No stamp is required upon an instrument to which the United States is a party, if it is signed and executed by a person representing the Government; if not signed by such a person stamps should be affixed.

91.

Receipt of Attorney for Note or Claim for Collection. No stamp is required upon the receipt of an attorney for a note or other claim left with him for collection.

92.

Cancellation of Stamps.

Each stamp when used should be separately cancelled.

93.

Basis of Stamp Duty on Conveyance of Realty-Actual
Consideration or Value.

The actual consideration or value," and not the mere nominal consideration, determines the amount of stamp tax upon a conveyance of realty sold.

94.

Marriage Certificates, when, and when not, Liable.

A marriage certificate issued by the officiating clergyman or magistrate, to be returned to any officer of a state, county, city, town, or other municipal corporation to constitute part of a public record, requires no stamp; but if it is to be retained by the parties, a five cent stamp should be affixed.

95.

Landlord Notice to Tenant to Quit.

A notice from landlord to tenant to quit possession of premises, requires no stamp.

96.

Bond to Convey Real Estate.

A bond to convey real estate, requires stamps to the amount of twenty-five cents.

97.

Receipts taken by Administrators, Executors, and Guardians. Receipts taken by administrators, executors, guardians, trustees, &c., to be used as vouchers upon the settlement of their accounts, are subject to the same stamp taxes as other receipts.

98.

Transfer of Mortgages--Endorsements on Negotiable Instruments. Upon every assignment or transfer of a mortgage, a stamp tax is required equal to that imposed upon a mortgage for the amount remain ing unpaid; this tax is required upon every such transfer in writing, whether there is a sale of the mortgage or not; but no stamp is necessary upon the endorsement of a negotiable instrument, even though the legal effect of such endorsement is to transfer a mortgage by which the instrument is secured.

99.

When Partition Deeds may become Taxable.

Partition deeds between tenants in common need not be stamped as conveyances, inasmuch as there is no sale of realty, but merely a marking out, or a defining of the boundaries of the part belonging to each; but where money or other valuable consideration is paid by one co-tenant to another for equality of partition, there is a sale to the extent of such consideration, and the conveyance by the party receiving it, should be stamped accordingly.

100.

Renewal of Insurance Policies-Definition.

The

An instrument which operates as the renewal of a policy of insurance, is subject to the same stamp tax as the policy itself; but such a receipt as is usually given for the payment of the monthly, quarterly, or annual premium, is not a renewal within the meaning of the statute. payment simply prevents the policy from expiring, by reason of nonperformance of its conditions: a receipt given for such a payment requires a two cent stamp, if the amount received exceeds twenty dollars, and a two cent stamp only.

But when the time of payment has passed, and a tender of the premium is not sufficient to bind the Company, but a new policy or a new contract in some form, with the mutuality essential to every contract, becomes necessary between the insurer and the insured, the same amount of stamps should be used as that required upon the original policy.

101.

Insurance Permits changing terms of Policies.

A permit issued by a life insurance company changing the terms of a policy as to travel, residence, occupation, &c., should be stamped as a contract or agreement.

102.

Mortgage, when Taxable as Contract.

A mortgage given to secure a surety from loss, or given for any purpose whatever, other than as security for the payment of a definite and certain sum of money, is taxable only as an agreement or contract.

SAVINGS INSTITUTIONS.

(Circular No. 53.)

103.

TREASURY DEPARTMENT, Office of Internal Revenue, }

Washington, Sept. 17, 1866.

As the amendatory act of July 13, 1866, takes effect on the first day of August, 1866, all Savings Banks will be required to make the return of tax on their deposits for the month of July, 1866, in manner and form as heretofore. The return for said month should be made to the proper assistant assessor, and the tax paid to the collector in accordance with Circular No. 48, July 20, 1866.

The returns of the above-named institutions, from the first day of August, 1866, will be made on the first day of January, 1867, and semi-annually thereafter, in the manner set forth in form No. 106.

The benefit of the exemptions in the proviso to section 110, act of June 30, 1864, as amended July 13, 1866, is confined to Provident Institutions, Savings Banks, Savings Funds, or Savings Institutions having no capital stock, and doing no other business than receiving deposits to be loaned or invested for the sole benefit of the parties making such deposits without profit or compensation to the company.

In ascertaining the taxable amount of deposits, all sums of five hundred ($500) dollars and upward, in the name of any one person, are to be included.

In determining the "average amount of deposits" subject to taxation for the period covered by the return, these institutions will be allowed, in order to facilitate the making of such return, to take the amount on deposit on the first days of January and July of each year, prior to the time of making their returns, as the correct average deposit, or to take such period between those dates as may be satisfactory to the Assessor of the district where such institution is located. The total amount of deposits at the date fixed upon should always be stated in the return.

The term United States' Securities" includes all interest-bearing obligations of the United States, owned and held by the bank as an investment.

The proviso to section 120, act of June 30, 1864, as amended July 13, 1866, so far as it relates to the interest paid to depositors in Savings Banks or Savings Institutions, is construed to apply only to such savings Institutions as are described in the proviso to section 116, act of June 30, 1864 as amended July 13, 1866. All others are liable to the five per cent. tax imposed by section 120 aforesaid, on the dividends or interest-declared or paid by them to depositors and stockholders.

E. A. ROLLINS, Commissioner.