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Replies: 6 / Views: 1,548 |
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Valued Member
United States
485 Posts |
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Pillar Of The Community
United States
6661 Posts |
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Maverick, all of these answers can be found in Scott specialized catalog. One can find a used 3 year old catalog for around $30.
The date written on the Stamp should be a good starting point, 186X (can't make out the last number) |
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| Edited by stallzer - 08/26/2014 6:49 pm |
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Bedrock Of The Community
United States
10600 Posts |
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The bank check was issued between Sept 1862 and Sept 1867, with over 44 million issued (yours was used Nov 11, 1864). The USIR was issued in Oct 1864 and used until Oct 1871, with over 456 million issued (yours was used May 30, 1867). |
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Valued Member
United States
485 Posts |
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Great. Thanks revcollector and stalzer! Sounds like they flooded the market with these! I'm assumin hardly any premium? |
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Bedrock Of The Community
United States
10600 Posts |
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No one "flooded the market" with these. They were issued to pay taxes to help pay for the Civil War, and they were bought as needed. The kind of documents that were used by the millions. Checks, promissory notes, receipts, etc. |
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Pillar Of The Community
United States
526 Posts |
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From 1817 to 1862 the US government was financed entirely by tariffs on imports. The Civil War led to an income tax from 1862-1872 but a lot of revenue came also from taxes on all sorts of financial documents. Most of us can scarcely imagine how government could be paid for by a 1- or 2-cent tax on individual documents or goods sold. We are, of course, more aware of how much revenue can be raised by taxes on cigarettes and alcohol. It's just that we no longer have to stick a stamp on the item to show that the tax has been paid. The store's computers do it for us.
But that's how it was done--using millions of documents subject to taxation. Revenue stamps are a testimony to that long lost world of 1/2 penny to nickel and dime taxing (though, of course, a nickel back then would be $20 today). |
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Bedrock Of The Community
United States
10600 Posts |
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The check tax brought in the most money, but the second most money was brought in by the one cent tax on....................matches. One cent per 100. No electric lights yet, so everyone needed matches. |
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