Bulletin of the National Association of Wool Manufacturers Volume 36

Bulletin of the National Association of Wool Manufacturers Volume 36

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ..."Under this statute no penalty is imposed unless the appraised value exceeds the entered value 10 per cent or more. This is a practical encouragement by law of a general system of undervaluation within the range of 10 per cent, and an inducement to unscrupulous importers to make their entries as nearly as they regard safe within the limit." Notwithstanding the reprehensible system which flourished under the liberty permitted by that law and the strong efforts made to secure amendments lessening the opportunity for it, when the administrative customs law of 1890, which created the Board of General Appraisers, was enacted, the same limit of 10 per cent for undervaluations was permitted, but the penalty for such undervaluation was increased, being made 2 per cent of the total appraised value for each 1 per cent that such appraised value exceeded the value declared in the entry. Hopes were raised, as expressed in this Bulletin, that the greater penalty and other provisions would give relief from the many grievances "suffered in the way of undervaluation, false invoices, and the like, under the existing law." These were not realized; the undervaluer still plied his business fearlessly and freely. The margin of 10 per cent before he could be penalized was an invitation to cheat and his immunity was guaranteed to that limit. Even when caught many of the penalties inflicted were remitted by the complacent and sympathetic Treasury Department of the Cleveland Administration. THE REASON FOR THE PENALTY. When the act of 1897 came to be framed the leeway of 10 per cent was withdrawn and the penalty of 1 per cent was imposed for every 1 per cent excess of the appraised value over that declared in the entry, a provision which, it was...
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Product details

  • Paperback | 174 pages
  • 189 x 246 x 9mm | 322g
  • United States
  • English
  • black & white illustrations
  • 1236777182
  • 9781236777188