Before issuing any license the Mayor shall require applicants therefor to pay a fee as follows: for an annual license, which shall entitle the peddler to do business for a period of twelve months from the date of issuance thereof, the sum of seventy-five dollars ($75.00); for a semiannual license, which shall entitle the peddler to do business for a period of six months from the date of issuance thereof, the sum of thirty-five dollars ($35.00); for any period less than six months, a two weeks license, which shall entitle the peddler to do business for a period of two weeks from the date of issuance thereof, the sum of twenty dollars ($20.00).