The southern press. [volume] (Washington [D.C.]) 1850-1852, 1851-10-03
TNEw SERIEs-No. GIL


TREASURY DEPARTMENT, Sept 10, 1851.
In view of the endorsements existing at
some of the principal ports and the want of
uniformity in the practice Of assessing duties
upon merchandise invoiced in deprecated for
egn currencies, it is deemed proper to establish
some uniform regulations on the subject for the
future government of the officers of the Gus.
toms.
The law requires invoices of all imported
merchandise, subject to an ad valorem duty, TO
be made out in the currency Of the country or
place from whence the importation is made
The basis of value upon which the duties are
to be assessed is the true market value in the
principal markets of the country at the period of
expectation to the United States, exhibited in
such foreign currency at it's intrinsic value, con.
verted into money of the United States accord
ing to the rates of value at which said currency
may have been determined agreeably to law
Congress has fixed the value of some of the
FOREIGN currencies at specific rates; but where
the invoice cost Of goods, wares, or merchandise
is exhibited in a deprecated currency issued
and circulated under the authority Of any foreign
government, the President of the United States
IS duly authorized by law to cause to be estab
lished fit and proper regulations" for estimat-
ing the duties on any such goods, wares, and
merchandise.
In all cases, therefore, where the foreign cur
rency ia deprecated, its value in money of the
United States is to be ascertained in the mode
prescribed by the circular instructions issued
by the department, by direction of the Presi
dent, under dates of the l4th May, and 10TH
August, 1881, and 10th October, 1882 AL
though the consular certificate required by sale
instructions of the value in United State.
money of any foreign deprecated currency j,
ordinarily to be received and taken as evidences
of such value yet it is not to be deemed con
elusive in cases where facts or circumstances
may exist producing rational belief that man
fest error attaches to such certificate.
Where Congress has fixed the value in Amer
lean money of any foreign currency, it is to b.
understood that the value is to attach in all cases
in estimating that duties and should any O
said currencies become deprecated, either By
the issue Of government paper money or other
wise the collectors nevertheless will make no nj
terntion in the value in estimating duties, with
ont the previous authority of the department
which authority will be promptly gwen in nj
cases, SO soon ms the fact of such depreciation j
automatically brought to its knowledge. Sucl
information has been received ms regards th'
Austrian form, which, until further instruction.
on the subject, the collectors viii consider a
deprecated currency, and levy the duties ac
cordingy ON invoices stated in it. The foreigi
currences alluded to above, the value Of which
is fixed by various acts of Congress, are note'
at foot for your information aud government
1t frequently happens that invoices stated i
the currency of the country of shipment hsv'
expressed on the face Of them, in the cnrrenc
of another country, the amount for which bill
Of exchange may have been drawn in paymen
| of the goods, or for other cause. In cases wher
both currences have specie basis, any differ
ence which may exist between the two amount
thus exhibited, is presumed to arise from the in
terest on the sight Of the bill, or REGULAR dit
ference of exchange between the two points
and where the currency Of the country of ship
ment is deprecated, similar difference may OK
ist between the specie value of the foreign ou'
rency thus expressed on the face of The invoice
and the consular certified specie value of tn
local appreciated currency in which the invoic
il stated. AS the law provides that the dntie
shall he estimated on the specie value of tn
currency Of the country from whence the ship
ment ia made that mode, as n general rule, vii
therefore be adopted yet where the difference
between the value of two currencies expressed
upon the face of the invoice is so great as q