The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-03-08
The warehouse Law.

Among the beneficial acts of the goth Congress, the
establishment of the Warehousing System in connection
with the new Tariff has received less attention from the
Press than it deserves 1t has added immensely the
facilities and advantages of our Commerce Relieving
the importer from the necessity of paying cash duties up
on the entry of his goods by permitting them to be bond
ed and warehoused, till they may be wanted for consmp
ton, it opens to the merchants. of comparatively small
MEANS an opportunity to engage in the business OF I'M
poraton, heretofore mostly monopolzed by great CAPT
tasts 1t affords, at the me vastly increased ia
cies to our merchants for the making up OF assorted
argoes for any destination The warehouses OF London
and Liverpool crowded with the products of the whole
globe upon such torender them easily accessible
to the shipper have played great part in giving to the
merchants OF those cities, the control, in no small
measure, of the commercial interchanges OF the
world system so tested and so successful must work
well here 1t already developing manifest advantages,
though we believe it is generally admitted that the law
which established is still susceptible OF important
amendments.
We are glad to learn that the Secretary of the Treasu
y under the authority of the warehousng act, has au-
horized the issuing of warehouse certificates, which rep
resent the goods warehoused somewhat as bills of ladne
represent cargo The following is the form of the
ufcate
UNITED STATES BONDED WAREHOUSE, L.
No New York, ISi
certify that according the invoice and bill of adne
Produced cuslom-house the entry thereof, A. b.,
the of the following goods, wares, and merchandise
now deposited in the United States bonded warehouse al
this port the expense and risk OF the owner which good
imported by c. D., on the lSf in the
master, from
IA] No 2. One case linens.
further certify that the dutable value of said goods,
wares, and merchandise, according to the apprasemenl
made by the United States appraisers for this port Is one
hundred dollars.
"The design of this certificate" says New York
Herald sis to afford to importers every facility and ad-
vantage, without mpairing the security OF the govern
ment for the collection Of duties These certificates are
transferable by endorsement and the holder only can
withdraw the merchandise from the warehouse. This
enables the importer to obtain advances his goods al
any time without transferring them by merely endors-
ing the certificate to the party making the advance,
by which the holder only has the privilege of withdraw
ing them it being always considered, the custom
house, that the holder of the certificate has the only
claim 10 them"
This feature of the warehousing SYSTEM new as it is
in country has been long in successful operation in
England In that country warehouse warrants of sim
lar character and operation to the certificates
ue InOS important aus IN neT easy anu secure UasdC-
ton of mercantile business Aided by their use the
representatives OF property many English merchants
enabled to dispense almost altogether with large private
warehouses The goods remaining safe in the custody
of the government with the duties on them yet unpaid
the property in them is thus transferred from hand
hand by means ofthe marrant without expense in
convenience They thus pass through all the varieties
legitimate mercantile transactions, and when at last they
are wanted for shipment consumption, the duties on
them are paid and they delivered to the holder OF
the parrant The manifold advantages of such system
in great mercantile community obvious at glance