Tungsten Ores; Hearings Before the Committee on Ways and Means, House of Representatives on H.R. 4437, a Bill to Provide Revenue for the Government and to Promote the Production of Tungsten Ores and Manufacture Thereof in the Volume 1-2

Tungsten Ores; Hearings Before the Committee on Ways and Means, House of Representatives on H.R. 4437, a Bill to Provide Revenue for the Government and to Promote the Production of Tungsten Ores and Manufacture Thereof in the Volume 1-2

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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. 1919 edition. Excerpt: ...They are holding down the value of their product if they can. Let me give you an illustration. I am doing this for the benefit of getting this thing right as soon as we can to help the industry. I want to help, and so do the other gentlemen here. I know of many iinportations under an ad valorem duty that have defrauded this Government out of large amounts of revenue that should have been paid. I gave an illustration yesterday where we were exporting horses brought in from Canada at $225 a head. The duty on horses in Canada is 25 er cent and exactly the same class of horses that we were selling for 225 a head, the Canadians valued at $27 and so they paid only $2.70. They did not pay on the value of the horses then. Another thing I disco-'ered was that we were importing French white beans from Canada for 60 cents a bushel, which we were selling abroad at the same time at $3 a bushel. There is evidence of fraud there; there is no question about it. Therefore, wherever it is possible to put a specific duty 1i on an important article---and it is in the case of your tungsten, if I see right--it should be done. Mr. MCKENNA. Sure. The CHAIRMAN. We should put a specific duty upon the purity of the ore; in other words, the metallic or tungsten content, instead of an ad valorem duty. Mr. GARNER. I understood Mr. Holmes to say that the unit value in China was $8. Was that the statement you made a moment ago, Mr. Holmes? Mr. HoLin-1s. When I was giving my illustration? Mr. GARNER. Yes. Mr. HoL.iEs. My statement was that if we had as an illustration a price of $4 for the Chinese article, and had 100 per cent ad valorem duty, it would be my understanding that the price then which we would pay for that ore would be $8. Mr. GARNER. That is correct. The...
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Product details

  • Paperback | 48 pages
  • 189 x 246 x 3mm | 104g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 123682881X
  • 9781236828811