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Security Engravers Presentation - BEP Taxpaids and Special Tax Stamps
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<p>[QUOTE="gsalexan, post: 1049341, member: 24274"]In 1862, to help fund the cost of Civil War (and later Reconstruction), Congress authorized excise taxes on a host of products. Then, as now, some of the easiest items to tax were those deemed “sinful” -- namely tobacco and alcohol. These included cigars, snuff, beer, and distilled spirits. Eventually these were extended to include occupational taxes on persons and businesses who created and sold these products: brewers, exporters, warehousers, manufacturers and retailers. These were essentially annual permits or licenses, often paid on a monthly basis.</p><p><br /></p><p>In 1868 the goverment began issuing "stamps" to document payment of these taxes. The excise stamps are known as taxpaids, the occupational licenses are Special Tax Stamps—first issued in 1873. Many of these early stamps bear a distinct resemblance to the currency of the time, both in size and format, and to thwart fraud included intaglio vignettes, security threads embedded in the paper and serial numbers. Like currency, these were first printed by contracted banknote companies, then by the Bureau of Engraving and Printing as it increased its production capacity. I was surprised to note on several early stamps imprints for *both* Continental Bank Note Co and the BEP. The engraved work on many of these is quite exquisite...[/QUOTE]</p><p><br /></p>
[QUOTE="gsalexan, post: 1049341, member: 24274"]In 1862, to help fund the cost of Civil War (and later Reconstruction), Congress authorized excise taxes on a host of products. Then, as now, some of the easiest items to tax were those deemed “sinful” -- namely tobacco and alcohol. These included cigars, snuff, beer, and distilled spirits. Eventually these were extended to include occupational taxes on persons and businesses who created and sold these products: brewers, exporters, warehousers, manufacturers and retailers. These were essentially annual permits or licenses, often paid on a monthly basis. In 1868 the goverment began issuing "stamps" to document payment of these taxes. The excise stamps are known as taxpaids, the occupational licenses are Special Tax Stamps—first issued in 1873. Many of these early stamps bear a distinct resemblance to the currency of the time, both in size and format, and to thwart fraud included intaglio vignettes, security threads embedded in the paper and serial numbers. Like currency, these were first printed by contracted banknote companies, then by the Bureau of Engraving and Printing as it increased its production capacity. I was surprised to note on several early stamps imprints for *both* Continental Bank Note Co and the BEP. The engraved work on many of these is quite exquisite...[/QUOTE]
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