He deplored the tact that the merchants have in the past frequently evaded payment of the Stamp Tax. The present agitation against the introduction of the new stamps on Nov. 1, he said, is attributable to the plans of certain profiteers to manipulate the sale of old for new stamps, if the privilege of exchange is conceded.
The annual proceeds from the Stamp Tax hitherto amount to $15,000,000. " Atter readjustment, however, the total is expected to each $60,000,000 a year.
The major portion of the revenue from the Stamp Tax will go to the local governments, he added, in the, following proportions: Ministry of Finance 34 per cent; Ministry of Communications 6 per cent. (as commission for the Post Offices); Provincial Governments 10 per cent; District Governments 30 per and border provinces 20 per cent—Kuo Min.
Text read from the printed page and cleaned; old type leaves the occasional error.