AMERICAN BANKING MANUSCRIPT - LATE CIVIL WAR - FILLED WITH 100, REVENUE STAMPS
Item History & Price
| Reference Number: Avaluer:6059 |
AMERICAN BANKING MANUSCRIPT - LATE CIVIL WAR - FILLED WITH 100+ REVENUE STAMPS
[REVENUE STAMPS] [AMERICAN BANK MANUSCRIPT]Mechanics Savings Bank, [PA] 1864-1910 (majority pre 1882). Oblong. 20 x 17 cm. 300 pages (approx. 100 filled in, the rest blank lined) with approx. 110 Revenue Stamps, a few with old cut outs. Sheep binding, with embossing, ma...rbled paste-downs, inner margins strengthened, some wear, some spotting to rear board, but generally an attractive and interesting manuscript.
"In 1862, the United States government of the then divided nation needed a way of raising funds for the costly war with the South. The Revenue Act of 1862 sought to rectify this discretionary discrepancy with the implementation of several new taxes, and the creation of a new government office to oversee their collection. Taxes were introduced on items as diverse as playing cards, photographs, tobacco, and alcohol, and also on legal documents and financial transactions. Like postage stamps, revenue stamps could be purchased in advance and affixed to taxable items to show that the tax had in fact been paid. In the case of legal or financial documents, affixing a stamp was as much a part of completing the paperwork as signing on the dotted line." [Ref: hsp.org/blogs/fondly-pennsylvania/of-stamps-and-taxes]
[REVENUE STAMPS] [AMERICAN BANK MANUSCRIPT]Mechanics Savings Bank, [PA] 1864-1910 (majority pre 1882). Oblong. 20 x 17 cm. 300 pages (approx. 100 filled in, the rest blank lined) with approx. 110 Revenue Stamps, a few with old cut outs. Sheep binding, with embossing, ma...rbled paste-downs, inner margins strengthened, some wear, some spotting to rear board, but generally an attractive and interesting manuscript.
"In 1862, the United States government of the then divided nation needed a way of raising funds for the costly war with the South. The Revenue Act of 1862 sought to rectify this discretionary discrepancy with the implementation of several new taxes, and the creation of a new government office to oversee their collection. Taxes were introduced on items as diverse as playing cards, photographs, tobacco, and alcohol, and also on legal documents and financial transactions. Like postage stamps, revenue stamps could be purchased in advance and affixed to taxable items to show that the tax had in fact been paid. In the case of legal or financial documents, affixing a stamp was as much a part of completing the paperwork as signing on the dotted line." [Ref: hsp.org/blogs/fondly-pennsylvania/of-stamps-and-taxes]
