The Stone Money of Yap - Smithsonian Institution

TRUST TERRITORY OF THE PACIFIC ISLANDS
YAP ISLANDS CONGRESS
FALL SESSION
1965
RESOLUTION NO. 10-65: LEVYING A TAX ON THE
TRANSFER OF TRADITIONAL YAPESE MONIES AND
OTHER VALUABLES AND CONTROLLING THE EX­
PORT THEREOF, AND FOR OTHER PURPOSES.
BE IT ENACTED BY THE YAP ISLANDS CONGRESS THAT:
Section 1. In order for any citizens of the Trust Territory
resident in Yap Islands Proper to sell or give to any business
establishment or any person who is not a citizen of the Trust
Territory resident in Yap Islands Proper any traditional
Yapese money or other valuables, it shall be necessary for the
seller or the donor to first obtain a transfer of ownership document.
Such document shall state the name or title of the money
or the valuable, if any, and the selling price, or in the case of
a gift, the estimated value of the money or other valuables.
Such transfer of ownership document shall be cosigned by the
Magistrate of his Municipality and the Paramount Chief of his
village, and also by the District Administrator. The transfer of
ownership of the money or other valuable shall become effective
when the seller or donor thereof certifies on the document that
he has received the stated selling price or has made the stated
gift, as the case may be. The District Administrator shall
notify the District Treasurer of any such document which he
signs.
Section 2. The District Treasurer is authorized to prescribe
the form of the transfer of ownership document.
Section 3. There is hereby levied upon the sale, as prescribe
in Section 1 above, of traditional Yapese money and other
valuables a tax of fifty per cent (50%) of the selling price. Such
tax shall be paid by the seller of any Yapese money or other
valuables within seven (7) days after such sale is transacted.
The tax shall be paid to the District Treasurer.
Section 4. There is hereby levied upon the giving, as described
in Section 1 above, of traditional Yapese money and other
Appendix 2
Yap Islands Congress, Resolution No. 10—65
26
valuables a tax of twenty-five per cent (25%) of the estimated
value thereof. Such estimated value shall be determined by
enactment of Yap Islands Congress.
The tax levied hereunder shall be paid by the donor of any
Yapese money or other valuables within seven (7) days after
the gift thereof is made. The tax shall be paid to the District
Treasurer.
Section 5. In order to remove from the Yap Islands any
traditional Yapese money or other valuables, the bearer or
shipper thereof must have in his possession a document, prescribed
by Section 1 above, certifying the ownership thereof.
The District Administrator may prevent any person from
shipping, carrying or otherwise removing any traditional Yapese
money or other valuables for which such person does not have
a properly signed document of ownership.
Section 6. The provisions of this Resolution shall not apply
to Yapese cultural objects presently being manufactured for
sale or other disposition.
Section 7. PENALTY. Any person who violates any provisions
of this Resolution shall, upon conviction thereof, be
punished by a fine of not more than five hundred dollars
($500.00) or by imprisonment not to exceed six (6) months, or
both.
Section 8. This law shall take effect upon approval of the
High Commissioner of the Trust Territory of the Pacific Islands.
Passed by the Yap Islands Congress this 19th day of November,
1965.
/s/ Joachim Falmog
President, Yap Islands Congress
/s/ Maynard Neas
District Administrator, Yap
/s/ Mangarfir, Jesus
Secretary, Yap Islands Congress
APPROVED THIS 11th DAY OF March, 1966.
January 12, 1966
Date
/s/ M. W. Goding
High Commissioner, Trust Territory
of the Pacific Islands