61
(10)
The following tabular statement was cirenlated at the Meeting:-
Return showing the Revenue derived from Stamps, impressed under cach article of the Schedule to the Stamp Ordinance, 1866, and under the 20th Section thereof, during the period from the opening of the Stamp Office, to 29th February, 1868, to which is added the revenue for Adhesive Stamps sold during the same period
Nord-- The Stamp Office was opened on the 1st October, to enable the Publie to obtain supplies of Stamps in advance of the date on which the Stamp Ordinance came into operation, viz., the 10th October, and a sum of $9,808.75 was received between the 1st and the 9th October. On this account the revenue so far cannot be taken as a fair average of what it may be in future.
No, of Article in
the
DESCRIPTION.
Dollars.
Cents.
MEMO. FOR COLONIAL TREASURER.
With reference to the Stamp Duty on Bills of Exchange, the undersigned beg
to suggest an alteration of the existing scale, in accordance with the following, which they consider a fair standard :----
When the amount is under $100,.
Do.
do.
Do.
do.
does not exceed $5,000, exceeds $5,000...................
East Point, March 23rd, 1868.
.Exempt.
.$0.50 each part of bill.
$0.75 do. do.
JARDINE, MATHESON & Co.
Schedule.
1
Agreements (Adhesive Stamps may also be used).
18 50
2
Bank Notes (að valorem)
00 00
3
Bills of Exchange and Promissory Notes drawn in the
Colony
17,132
Bills of Lading
4,454
Bonds, Bottoniry and Respondentia
230
Charter Party, &c
1,709
7
Transfer of any Shares in any Public Company.
1,240
8
Powers of Attorney (Adhesive Stamps may also be used)
24
9
Note of Protest (Adhesive Stamps may also be used)...
39
10
Any Notarial Act not otherwise charged
349
11
Receipts for money exceeding $10 ( Adhesive Stamp).
40
00
12
Probates and Letters of Administration
40
13
Conveyances and Assignments..
940
50
Where in a Mortgage the sum is unlimited
00
Deed or other Instrument of Gift
00 00
21
14
Mortgage....
724 00
15
Re-assignment of any Mortgaged Property.
112
00
16
Letter or other Instrument of Hypothecation
1,241 25
17
Duplicate of other Deed chargeable with Duty
152 00
18
Lease, or Agreement for a term of years.
100
50
19
Lease, or Agreement for a Lease, without fine or premium
365
00
888888888888888888 88%
80
60
00
00
20
Lease, or Agreement for a Lease, in consideration of a fine
or premium...
20
21
Every Instrument in writing under Seal, not otherwise
specially charged with Duty
200
Under
Sec. 20 of Adjudication Fees......
the Ordi-
nance.
20
8 8 8
00
00
00
Total Impressed Stamps...
Total Adhesive Stamps sold..
Total Revenue to 29th February, 1868
Stamp Office, Hongkong,
12th March, 1868.
29,112 11,210 65
$40,322
5580
15
F. W. MITCHELL, Collector of Stamp Revenue.
HONGKONG, March 16th, 1868.
To Messrs. ALEXANDER, RYRIE, and MITCHELL,
A Commission appointed in relation to the Stamp Act, dr., &c.,
HONGKONG.
SIRS,
With reference to your notice in the Daily Press of the 12th instant, inviting opinion as to the working of the Stamp Ordinance, I beg to place before you the following, which might tend to remove the obloquy and dislike with which the Act has been received by the Mercantile Community more particularly the Chinese portion of it.
1st. It is fair to infer from the fact of a Commission having been appointed to look into the present system, that the Ordinance possesses material defects, in its conception, and its position, as well as in the cumbrous and expensive machinery which directs it. To any but a mind trained in legal and technical phraseology and forms, it is difficult of comprehension, it contains a maze of pains, penalties and conditions, irreconcilable with plain business action.
2nd. In its place a Stamp Act might be framed, the simplicity and clearness of which, could not fail to reach every comprehension, oue, which stripped of profuse verbiage, numerous conditions, complicated and involved, could uot but recommend itself to every ordinary mind, and which in the end, might surpass the present in point of revenue, in as much as no one would be likely to forego its observance, on the score of cost.
3rd. I would suggest an Act, simple in construction, explicit in wording with a certain penalty for its infringement clearly set forth, requiring the adoption of a Stamp, uniform in rolor, size and value.
4th. The money value of the New Stamp, to be (3) Three Cents of a Mex- ican Dollar, to be red in color, with a suitable device--the plainer the better--and Two-thirds of the size, of those now in use. Red is a color peculiarly cougenial to the Chinese taste, and therefore I recommend it.
5th. Its use to be imperative on every written or printed paper of business, passing in the place, whether original, duplicate, triplicate, or mere parts, irrespective of amount of money involved, unless under Three Dollars, and letters only excepted.
6th. No exemptions to be permitted in favor of any individual.
7th. The Stamps to be sold at the Post Office, either singly or in quantities.
No comments yet.
Private notes are available after approval.