Philadelphia v. Goldfine

Opinion by

Baldrige, J.,

The City of Philadelphia passed an ordinance approved September 7, 1937, amended September 7, 1938, imposing a documentary stamp tax upon “any written obligation to pay money ...... and any executory contract for the payment of money......at the rate of five (5) cents for each one hundred ($100) dollars, or fraction thereof, of the value represented by such document.” Under section 2 of the ordinance “documents” include: “(b) Any written obligation to pay money (except promissory notes and bank notes issued for circulation and notes issued to mutual insurance companies,…