Drafts drawn in the United States payable in foreign countries are subject to the revenue laws of such foreign countries, and the cost of stamps so affixed abroad must be paid by the holders of the bills, who in turn generally charges to the bank or banker from whom they receive the same for collection. The amount of revenue stamps varies according to the country. The following shows the cost on other than demand drafts in the principal foreign countries.

Great Britain: 1s. per £100 or fraction thereof, or 1-20 of 1 per cent of rate.

Germany: 50 pfennigs per 1,000 marks or fraction thereof, or 1-20 of 1 per cent. of rate.

France: 50 centimes per 1,000 francs or fraction thereof, or 1-20 of 1 per cent. of rate.

Belgium: 50 centimes per 1,000 francs or fraction thereof, or 1-20 of 1 per cent. of rate.

Holland: 50 cents per 1,000 gulden or fraction thereof, or 1-20 of 1 per cent. of rate.

Norway, Sweden and Denmark: 50 ores per 1,000 kroner or fraction thereof, or 1-20 of 1 per cent. of rate.

Italy: 1/8 per cent. of rate, or $1.18 per $1,000.

Russia: 1/4 per cent. of rate, or $1.25 per $1,000.

Austria-Hungary: 1/8 Per cent. of rate, or $1.13W per $1,000.

Switzerland varies at different places - some places have none.

The cost of revenue stamps required to be affixed to commercial bills in Great Britain at the time of acceptance of draft is 1s. for each £100, which is equivalent to 1/2 Per mille, or 1/2 per cent, per £1,000, or 1-20 of 1 per cent. of the rate, which latter, expressed decimally, when the rate is $4.83 per pound, would be 0.00244 (or 4.88 divided by 1-20 of 1 per cent.) Where the amount of bills is small, say £1,000 and under it is safe to deduct 1/4 cent per pound to cover cost of revenue stamps.

On short bills - five days' sight or less - only one-penny stamps (2 cents) are required.