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ValorConseil

Third Federal Issue

 

The Third Federal Issue of embossed revenue stamps were created to fund the War of 1812.  The stamps were authorized by the Act of August 2, 1813, effective January 1, 1814.  Pursuant to the Act of December 23, 1817, the taxes expired on December 31, 1817.  Unlike the First and Second Federal Issue embossed revenues, which were applied to many types of legal and financial documents, the Third Federal Issue was applied only to bank notes (no surviving documents are known) and bonds, obligations, promissory notes, or bills of exchange.  The tax rates applicable to bonds, obligations, promissory notes, and bills of exchange were:

 

Above $50 and not exceeding $100 
Above $100 and not exceeding $20010¢
Above $200 and not exceeding $500 25¢
Above $500 and not exceeding $1,00050¢
Above $1,000 and not exceeding $1,50075¢
Above $1,500 and not exceeding $2,000$1.00
Above $2,000 and not exceeding $3,000$1.50
Above $3,000 and not exceeding $4,000 $2.00
Above $4,000 and not exceeding $5,000$2.50
Above $5,000 and not exceeding $7,000$3.50
Above $7,000 and not exceeding $8,000              $4.00
Above $8,000 $5.00
The Third Federal Issue embossed revenues exist on three types of paper: laid paper without watermark, wove paper without watermark (combined in the Scott Catalogue as "unwatermarked") and wove paper with a Government watermark of "STAMP US" in ¾ inch high double line capitals.   Dies were prepared for each of the tax rates listed above, and all denominations are known to exist, although not all denominations are known on each type of paper. 

 

(RM275)

10¢

(RM276)

25¢

(RM277)

50¢

(RM278)

75¢

(RM279)

$1.00

(RM280)

$1.50

(RM281)

$2.00

(RM282)

$2.50

(RM283)

$3.50

(RM284)

$4.00

(RM285)

 

$5.00

(RM286)

 

New York, January 13, 1814, promissory note in the amount of $49.81.  As amount of this note was less than $50, it was not subject to tax.  Thus the 5¢ (RM275b) tax stamp was unnecessary. 

Washington, Pennsylvania, December 18, 1816, promissory note in the amount of $170.  Taxed 10¢ (RM276a) as a note above $100 and not exceeding $200.

Washington, Pennsylvania, January 11, 1815, promissory note in the amount of $200.  Taxed 25¢ (RM277b) as a note above $200 and not exceeding $500.  As the note was in the amount of $200, it should have been taxed 10¢.

Washington, Pennsylvania, January 17, 1816, promissory note in the amount of $1,000.  Taxed 50¢ (RM278a) as a note above $500 and not exceeding $1,000.

Natchez, Mississippi Territory, December 22, 1815, promissory note in the amount of $1,400.  Taxed 75¢ (RM279b) as a note above $1,000 and not exceeding $1,500.

Washington, Pennsylvania, October 8, 1817, promissory note in the amount of $700.  Taxed $1.00 (RM280a) in error.  The correct tax was 50¢, the $1.00 rate applied to notes above $1,500 and not exceeding $2,000. 

Boston, April 2, 1816, promissory note in the amount of $3,000.  Taxed $1.50 (RM281a) as a note above $2,000 and not exceeding $3,000.

Philadelphia, October 1, 1816, promissory note in the amount of $3,500.  Taxed $2.00 (RM282a) as a note above $3,000 and not exceeding $4,000.

New York, March 3, 1815, promissory note in the amount of $5,000.  Taxed $2.50 (RM283a) as a note above $4,000 and not exceeding $5,000.

Huntingdon, February 25, 1817, promissory note in the amount of $4,600.  Taxed $3.50 (RM284b) in error.   The correct rate was $2.50.  The $3.50 rate applied to notes above $5,000 and not exceeding $7,000.

New York, NY, February 17, 1816, promissory note in the amount of $7,532.54.  Taxed $4.00 (RM285b) as a note above $7,000 and not exceeding $8,000.

New York, September 9, 1817, promissory note in the amount of $10,000.  Taxed $5.00 (RM286a) as a note above $8,000.