Once you have done that... delete your paper texture layer.
Then re-arrange your layers like this...
Now click on your text layer. Where it says MODE set it to MULTIPLY
You could leave it at there...
But i like to add a few subtle touches...
Click on the text layer and set the Opacity to 45.0 ... then duplicate it by right clicking the text layer and click DUPLICATE! It will look like this.
Nearly there.. Click on the paper texture layer. Now on the image.. click... Filters>Light and shadow>Drop shadow...
Copy this..
If you did this right the layers will look like this...
All you have to do now is SAVE IT as a blahblah.PNG .. Export...OKAY
Finished product
Enjoy this tutorial - wncruzer