house. 10% additional is charged after 1 yr., and at the end of 3 yrs. the goods are sold by the Collector, who turns the proceeds into the Treasury. 149. Duties are of two kinds, AD VALOREM and SPECIFIC. 150. An AD VALOREM DUTY is assessed at a certain rate % of the net cost of the goods. NOTE. - By "net cost is meant the cost as they were purchased, less discounts, and before charges have been added. If the "net cost" contains a fraction of a dollar less than 50c., the cents are discarded before computing the duty; if 50c. or more, another dollar is added. 151. A SPECIFIC DUTY is assessed at a certain sum per unit of quantity, as camphor, 5c. per lb. ; linseed-oil, 25c. per gallon, etc. NOTE 1. The Custom-House ton contains 2240 lbs. NOTE 2. Any fractional part of the unit on which specific duties are assessed is discarded if the fraction is less than, and is called another unit ifor more. NOTE 3. Some imported articles are subject to both an ad valorem and a specific duty, as woollen goods, 45c. per lb. and 30%. 152. ALLOWANCES are deductions made in estimating specific duties only, and are known as TARE, BREAKAGE, and LEAKAGE. (T. D. 28041.) Values of foreign coins. [Circular No. 22.] TREASURY DEPARTMENT, April 1, 1907. In pursuance of the provisions of Section 25 of the act of August 28, 1894, I hereby proclaim the following estimate by the Director of the Mint of the values of foreign coins to be the values of such coins in terms of the money of account of the United States, to be followed in estimating the value of all foreign merchandise exported to the United States on and after April 1, 1907, expressed in any of such metallic currencies. GEORGE B. CORTELYOU, Secretary. ESTIMATE BY DIRECTOR OF THE MINT OF VALUES OF FOREIGN COINS. NOTE.-The coins of siiver standard countries are valued by their pure silver contents, at the average market price of silver for the three months preceding the date of this circular. *The sovereign is the standard coin of India, but the rupee ($0.3244%) is the current coin, valued at 15 to the sovereign. † Seventy-five centigram- fine gold. One fifth pound sterling. 153. To compute duties. SPECIFIC DUTY. RULE.- First deduct the tare, if any is allowed, and reckon the specific duty on the remainder, regarding any fraction of one-half or more as one more unit, or discarding any fraction less than one-half the unit on which the duty is computed. AD VALOREM. RULE.- Figure the value of the whole invoice in the foreign money. Change this amount to U. S. money by using the equivalents given in table on Paye 125. Fifty cents or over is regarded as one dollar more, but cents less than fifty are discarded. Multiply this number of even dollars by the per cent of duty given. EXAMPLES. 1. Imported goods. invoiced at £590 16s. 8d., are subject to a duty of 15%. What is the amount of duty? 2. francs? What is the duty at 30% on goods invoiced at 9645.33 3. The duty on goods invoiced at 4862.82 marks is estimated at 25%. What is the amount of the duty? 4. An importation of 2450 yds. of dress goods is subject to a duty of 183c. per yd. What is the amount of duty? 5. I imported 12925 duty at 7c. per 100 lbs. tare at 5% ? 6. The allowance for hemp carpeting was 3%. 54c. per yd.? 7. lbs. of salt at c. per lb., and paid What duty did I pay, allowing for tare on an invoice of 1340 yds. of What was the amount of duty at What is the duty at 20c. per sq. yd. and 35% on an importation of 1800 yds. cloth invoiced at 4 francs per yd.? 8. An importation of iron wire #20, amounting to 12 T. 14 cwt. 3 qr. 21 lbs., invoiced at 3d. per lb., was subject to a duty of 3c. per lb. and 15%. What was the duty? 9. If beer is subject to a specific duty of 20c. per gallon, and an importer's sales are at 163% profit, what must be his selling price per gallon of 640 gallons invoiced at 5 marks per gallon, if the charges other than duty amount to 32 marks in Germany and $40 in the United States, the course of exchange on Germany being 94c. to 4 marks? 11. 10. What is the duty at 45c. per sq. yd. and 30% ad valorem on 1560 yds. Axminster carpets, 27 in. wide, invoiced at 8s. 3d. per yd., the shipping charges being £3 7s. 10d. and consul's fee 14s. 10d.? What was the cost of importation? What is the duty at 25% ad valorem on 3 bales of burlaps, each bale containing 40 webs, each web being 48 yds. 20 in. long and 30 in. wide, and invoiced at 30c. per sq. yd.? 12. What is the duty at $1 per cu. ft. and 25% on a block of Italian marble whose dimensions are 5 x 8 x 15 ft., and which was imported at 82 lire per cu. ft.? 13. A Boston merchant imported a lot of knives from Sheffield invoiced as follows: 75 doz. at 12/6; 50 doz. at 18/6; 25 doz. at £1-5/6; 30 doz. at £1-12/6; 15 doz. at £3-11/6; and 10 doz. at £2-10/6. The charges in Sheffield amounted to £5-12/6; the consul's fee was 12/6; marine insurance was 20 cts. per $100 on value of invoice; carting, $2.50; duty at 30% ad valorem and 30 cts. per doz. What was the total cost of the importation? 14. Jones, McDuffee & Stratton Co., of Boston, imported per steamer Ivernia from Liverpool an invoice of 10 crates of English decorated earthenware. Find the total cost of the importation. Discount on goods 2% for cash; crates charged at 18/6 net each; shipping charges at 8/ per crate; consul fee 10/4; freight 690 cubic feet at 6/ per ton of 40 cubic feet; wharfage at 15 cts. per crate; rate of exchange 4.88; marine insurance, 20 cts. per $100 on value of invoice and shipping charges; duty at 60% on value of goods and crates at the Custom House rate of $4.8665 per pound; carting, storage, etc., at $1.50 per crate. The invoice with the weights of the crates are given on page 128. MESSRS. JONES, MCDUFFEE & STRATTON CO., BOSTON. BOUGHT OF BOOTHS, LIMITED, SILICON CHINA, ROYAL SEMI PORCELAIN AND ART TILE MANUFACTURERS. NO ALLOWANCE FOR BREAKAGE Mark J, McD. & S. B 29/38 Through Messrs. David Ingles & Co. Stamped at back "Marquis" 48 36 36 216 Plates, 4, 54/3, 6.3/6, 7.5, 8.6/, 106. 7579 “ £4 6/9 24 Soups 7 66 66 5/ |