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W. P. G. HARDING. GOVIRNOR

WILLIAM G. llcADOO SICRITAltY OP' THI TRIAIUJIY

CHA.UHi.AH

JOHN SKELTON WILLIAMS COMPTROLLER OF THI CURRINCY

x .. 592 FEDERAL RESERVE BOARD

WASHINGTON

PAUL II. WARBURG, VICI GOYUNOR . .FREDERIC A. DELANO

ADOLPH C. MILLER CHARLES S. HAMLIN

H. PARKER WILLIS, S!CRITARY SHERMAN P. ALLEN. Asar. SICRITAU'

AND FISCAL AGINT

ADDRK88 Rll.PL Y TO

FEDERAL RE8ERVI: •OARD

PIVISION OF AUPIT ANP EXAMINATION

TAX ON PARCEL POST PACKAGES. -December 20, 1917.

Dear Sir:

The Commissjoncr of Intern~l Revenue has advised

the BoRrd thRt Federal Reserve banks are subject to the war stamp.

tax imposed by 61.-'bdi·r:i.sion 14 of Schedule A, a:ct of October 3, 1917,

upon .. parce). post pacbges, '\nd st1.tes thtt·t this tax applies to all

packages ':ln wld ch pcst<tge required to be p11id amounts to 25,£ or more.

The Cornrnissiom:.r a:lvises that post~l authorities Rre prohlibi"ted

from trl'l.nspor··Ling such pq_ck<tgos until n. stamp or stamps representing

the tax due sl.'ill have been 'lffixed thereto, 'lnd th'lt there is no

exemption provided by the act for those "lge11c ies or departments

of the government, including the Federal Reserve b'lnks, mailing such

p~ck'lges, wbe~e postnge is ~o be p~id thereon.

Very truly yours,

Governor.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis