How the Merchant would be Squeezed The significance of the attempt being made by the Chinese Gov: ernment to levy the stamp tax on Chinese in Shanghai, to which roference was made in our issue of 'April 24, will not be generally apparent' until the following particulars of what the stamp tax really is to be are made known.
It is proposed by the Chinese Government to levy this tax on:—
(1) All Leases of land and houses.
(2) All receipts.
(3) All bills for cash sales.
Invoices.
Debit note books.
Account books.
Mortgages.
Pawnbrokers' tickets.
Staff agreements.
Orders for goods.
Bills of lading.
AIL contracts.
Money drafts (this probably means, cheques, bills of exchange, etc.) (14) Share certificates.
And if this is not wide enough the list concludes with "and etc."
Apart from the point that according to the Municipal Gazette of January 1920, the Municipal Council have made no change in their policy of opposing the attempt to levy this tax within the confines of the International Settlement—an attitude which we understand they still maintain—there are several points which occur to even the most casual reader of the above list. For example in every lease of land in Shanghai one of the panties must be a foreigner as registered owner
Text read from the printed page and cleaned; old type leaves the occasional error.