INVOICE CURRENCIES.

SECTION 2838 of the Revised Statutes (see Part I, paragraph 1840), fro vides that "all invoices of merchandise subject to a duty ad valorem shall be made out in the currency of the place or country from whence the importation shall be made, and shall contain a true statement of the actual cost of such merchandise, in such foreign currency or currencies, without any respect to the value of the coins of the United States, or of foreign coins, by law made current within the United States, in such foreign place or country."

Invoices of free goods, or of goods paying strictly specific duty, may be made out in the currency of the United States, or that of any other country where its value is fixed by our laws. (R. R., pt. iv, Art. 25.)

In ascertaining the value of imports for the assessment of duties, the currency of the invoice must be converted into money of the United States according to the rates of value ascertained and made known in pursuance of law; the standard gold dollar being the unit of the money of account of the United States. (Tr. Regs., Acts 345 and 993.)

"Where the standard value of a foreign currency has been proclaimed by the Secretary of the Treasury in the manner provided by law, or, not having been so proclaimed, has been fixed by a special enactment, that value is to be taken in all cases in estimating customs duties, unless collectors have been otherwise instructed, or unless a depreciation of the value of the foreign currency expressed in an invoice from the standard of that currency shall be shown by consular certificate thereto attached."* (Ibid., Art. 993, as amended June 29, 1874, S. S., 1870.)

Where the standard value of a foreign currency has not been so proclaimed, an invoice expressed in such currency must be accompanied by a consular certificate, showing its value in standard gold dollars of the United States. (Ibid.) "When silver is the legal standard of a foreign currency and represents the unit of account, its value is to be reduced to the basis of gold on the assumption that the ratio of 15 to 1, or such other ratio as may be from time to time established, represents the relative values of silver and gold." (Ibid., Art. 994.) Invoices of Swiss goods made out in the "franc federal," do not require the consular currency certificate. (Ibid., Art. 995.)

"In the absence of the required currency certificate, the goods will be admitted to entry on the usual appraisement, but the importer will be required to give bond to produce such certificate, whether the import be subject to duty or not, and the final liquidation of duties will be delayed until the filing of the certificate or the expiration of the bond." (Ibid., Art. 998.)

German thalers have ceased to be the unit of value in Germany, excepting Bavaria and Wurtemberg, and the mark has been substituted. All invoices of goods subject to a duty ad valorem, imported from Germany, other than from Bavaria and Wurtemburg, should be made out in marks, and such invoices representing other currencies should be rejected. (S. S., 2262.)

An invoice made out in the currency actually paid may be received by a collector of customs, if it contains also a true statement of the actual cost of the merchandise in the currency of the country whence the goods were imported, and in all other respects complies with the laws and regulations governing the subject. (S. S., 2536.)

• See ante, Part I, paragraph 1865, for statutory provision as to depreciated currency.

CONVERTED INTO MONEY OF THE UNITED STATES.

ESTIMATING THE POUND OR SOVvereign at $4.8665, IN ACCORDANCE WITH THE ACT OF MARCH 3, 1873. ↑

The Penny at 2.03 cents, and the Farthing at .51 of a cent, is sufficiently near the true rate for customs purposes. For a closer computation see the next table.

This table cannot be used for the Pounds of the British North American Provinces.