Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1855-1856

STAMP DUTIES.
the intent and meaning of this act, and
of any act or acts relating to the stamp
duties on bills of exchange, drafts, or
orders, and shall be chargeable accord-
ing^- with the stamp duties imposed
by this act, or any such act or acts,
viz. : —
All documents or writings usually
termed letters of credit, or whereby any
person to whom any such document or
writing is or is intended to be deli-
vered or sent, shall be entitled, or be
intended to be entitled, to have credit
with, or in account with, or to draw
upon any other person for, or to receive
from such other person any sum of
money therein mentioned.
Exemptions from the Duties on Drafts
or Orders. — All drafts or orders for the
payment of money to the bearer on de-
mand, drawn upon any banker or
bankers, exempt from stamp duty at
the date of the Act 17 & 18 Vict. c.
59. These are drafts on bankers who
shall reside or transact the business of
a banker within the distance of fifteen
miles of the places where such drafts or
orders shall be issued. They must spe-
cify the place where issued, and bear
date on or before the day on which
they are issued, and not direct the pay-
ment to be made by bills or promissory
notes. In reference to this exemption,
the Act 17 & 18 Vict. c. 83, § 7, pro-
vides that thej' shall not be remitted
or sent to any place beyond fifteen
miles in a direct line from the bank or
place at which the same are made pay-
able, or be received in payment, or as a
security, or be otherwise negotiated or
circulated at any place beyond that
distance. Penalty on persons sending
or receiving such drafts, £50. Section
8th provides, that unstamped drafts,
received within fifteen miles, on the
adhesive stamp being affixed and can-
celled, may be received and negotiated
beyond that distance.
All letters of credit, whether in sets or
not, sent by persons in the United
Kingdom to persons abroad, autho-
rizing drafts on the United Kingdom.
—16 and 17 Vict. c. 59.
Note. — The duty on drafts or orders may
be impressed on the paper, or an adhe-
sive stamp may be affixed.— 1G & 17
Vict. c. 59, § 3. The adhesive stamp
may be either a receipt or draft stamp.
—17 & IS Vict. c. 83, § 10. Where
an adhesive stamp is used, the maker
of the draft to cancel the stamp by
writing on it his name or initials.
Penalty for omission, £10. Penalty
for removing adhesive stamps or using
them a second time, or doing any act
to defraud of duty, £20.-16 & 17
Vict. c. 59, § 4 & 5.
Inland Bill payable otherwise than on
demand ;
Promissory Note payable otherwise
than to bearer on demand ;
Foreign Bill drawn in but payable out
of the United Kingdom, not drawn in
sets of three or more ;
Foreign Bill drawn out and payable
out of the United Kingdom, but en-
dorsed or negotiated within the United
Kingdom, not drawn in sets of three or
mote ;
Foreign Bill drawn out of and payable
within the United Kingdom —
Not exceeding £5. ..Id.
Exceeding £5 and not above 10. ..2d.
10 ... 25. ..3d.
25 ... 50. ..6d.
50 ... 75. ..9d.
75 ... 100... Is.
And the following duties apply to all
the above and in addition to
Promissory Note payable to bearer on
demand —
Above £100 and not ab. £200. ..2s.
200 ... 300. ..3s.
300 ... 400. ..4s.
400 ... 500. ..5s.
500 ... 750.. .7s. 6d.
750 « ... 1000. ..10s.
1000 ... 1500. ..15s.
1500 ... 2000. ..20s.
2000 ... 3000. ..30s.
3000 ... 4000. ..40s.
4000 and upwards 45s.
N.B. — Promissory Notes for £10 o
under are not to be drawn payable to
bearer on demand, except bankers re-
issuable notes, which require a different
stamp; and only such notes of bankers
and no others can be reissued after
being once paid.
Foreign Bills drawn in but payable
out of the United Kingdom, and also
drawn out and pa^'able out of the
United Kingdom, but endorsed or ne-
gotiated within the United Kingdom,
if drawn in sets of three or more, for
every bill of each set —
Sum payable not above £25. ..Id.
Above £25 and not ab. 50. ..2d.
50 ... 75. ..3d.
75 ... 100. ..4d.
100 ... 200. ..8d.
200 ... 300. ..Is.
300 ... 400. ..Is. 4d.
400 ... 500. ..Is. 8d.
500 ... 750. ..2s. 6d.