, 1879-01-01

1t will be seen that taking 1879 as basts
the decrease 10 valuu has been gradual but sure
until the fiscal year ending june 30. 1871, when
over Is PCT cent less TINA In 1s7y- It 10 rnY
opinion that the percentages II much
larpes this year than Inst, AZ It IL but recently
tnas F'tHna.Y ,a kta glove; wsts s reduced to 2
rauts my fourth conclusion: that com petition In
the Clore trade has changed to competition in
undegValuatton.
NOTICEABLE FACT
!s suggested br the above statement. although
undetvaluatiOn haa long continued iu tho i'm
postatton Ut gloves. "a will be seen BY reference
to the two Grst extrncta OF Exhibit !. Yet stnce
tie Eeneal Of all fn"tety Laws (act approyel June
=, 1870 the percentage Of undcrvaluation has
largely Increased, CAUSED by tho competition
among the underysluers themselves, until It hsa
reache1 such polnt that merchants must either
20 out Of the business Or engage themselves 10
undertaking. 1u ny pplniDn It t!as reached tho
latter potut or condition tu New York City, and,
II under such cirrumsi4uces the Appraisers ralsa
the question vi uudeEvalustion, q merchant W.
praisement II At once called for, afl Without any
necessary understanding among themselves,
other merchants In the same trst1s are bound to
fuatau the invoice prtcea.
Tho Increased percentage Of undesvalnatfons
shows the error made in the repeal Of tho ruocty
laws, - there II now no incentive for tnformers
to give Information to the officers Of the 0os-
srnment. aud tho latter car In no way obtain
access 70 the booka and papers OF the importer
"hHDHk III ntAct 5G0M L EEuFt, UG4QE6 obtaining
which the coutents Of tha books aud papers
ble.
i was informed bv Asslstant-Appsatser Hoyt,
gloves were tho saina II, those purchased, aud
Tho latter proved that tho invoice prices OF
those consigned were correct; but false yRluo
could bu Hut tn tho Invoices Of those purchased
experience Demonstrates that ttlat can bo easily
dune, - It IL done In all ktuua OF merchandise.
Tho letter os MessFs. EomeE, Colladay j. Co,
who give u as their opinion that theEu has bcen
! material sdvanca In s6o price OF g.ove4 st,,ce
they stopped tMpoFtIng, in 1865, should bs con.
TOO MUCH Is rxrzc4sD or TIN ArraArsxa's
! DEPARTMENT.
Will the tofce u exRlplncr1 1t New York. It
| Ia impossible for thsm to be thoroughly posted
on tha foreign market 1aluo OF the nusnbesleas
aft!cles thsy arc ralled upon to appFalse, and
Mlea al tho importers pf AuY particular article,
undcrvatuatton OF that article, elther By dircrs
or consigned tuvolce, It il Impossible to detect
the fraud without such :au examination ~ IAeY
are unable IT, Evs ths s.tss t; In FIT aos.,
information. they have 10 grounds even los
| mcro suspicion.
II tusoccs Of Alexandra, T1efous.s, snd
Cousvoistsr gloves should reach the Examtntt'a
tuAtion), how u he to know oE suspect that there
u any fraud whea tho involco priccs agreel It
wouid rather seem that tbls very agreement
| would turuish hin wiki The very best evidence
| that the insotco value W2s cursecL
Those Of tho New York Importers engaged IL
thu same buaiuess OF uudgrvaiuRtion are bound
to stand BY each other when they get intc
| tfouhls, and must swear each other through OF
| merchant Appra,semeot
by careful reading Of the testimony takeu
ln tho merchant sppratseneut Of tho Coursol
s!er gloves imported bJ Aessrs Luckemsycr
Rnuth u Co., it will be secn that rot stnYlt
witness IL asked whether u fEanrs Ii tho real
fossgn-masket value Of the gloves The exam
inslt0n appearA 70 10 cUnlntd to tbs fact ~ Il
whether certain maEss pf gloves asa equal Il
0thsls-
| ~ Az LLuSTRATIon
- 10 how t6esc merchants are bound together
! !nclose The testimony VI u. i. HhittnRtpt
aud Jonas Htr8cb. OF this city, takcn tn . ner
chant spoFaisemeat held. IN ibis city % som<
gIoyes imported BY Me&srs. Meser q Dickinson
This tittn, not be.ne sstsxded with the rc4ppsaise
ment, hal the next lot tApt u New YORK, wber,
they we're also AAvsuceu, and then they called
for merchant appEalscmeut thesr. which VA
held Feb. II last itr, Ehs&gh. VINO has rnasx,
of Philadelphia branch u Nsx YORK house
WAS called upoB to testify ihest, and be t1e
lhs Talue Of tns tvu-buttvn glVre Of she salu