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Domestic News
November 7, 1837
The New Hampshire Gazette
Portsmouth, Rockingham County, New Hampshire
What is this article about?
The New Hampshire Gazette publishes Treasury Department instructions dated October 30, 1837, from Secretary Levi Woodbury to New York Collector Samuel Swartwout, clarifying the construction of a recent congressional act authorizing extension of duty bonds on imports, addressing inquiries on applicability, bond amounts, and interest calculations.
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NEW HAMPSHIRE GAZETTE
Several inquiries from different ports having been made at the Treasury Department, as to the proper construction to be placed on the late act of Congress authorizing the extension of duty bonds, we publish below, for the information of those interested, a copy of the instructions this day sent to the collector of New York, on the subject.—Globe.
Treasury Department,
October 30, 1837.
Sir: Inquiries having been submitted by some of the Collectors as well as merchants, respecting the proper construction to be put upon the act of Congress, approved the 16th instant, 'Authorizing a further postponement of payment upon duty bonds,' the Department has deemed it proper to prepare a circular, supplemental to the one issued under date of the 17th of the present month, expressing its views upon the points presented. As some delay, however, must necessarily take place incident to the printing of this circular, I deem it proper at once to advise you of the substance of the instructions given in it. You are authorized to publish the result for the information of those interested.
The first inquiry proposed is, 'Whether under the first section of the act, relief is to be extended to cases of all bonds given previous to the date of the law and outstanding, whether due or to become due, before or after the passage of the law.'
In answer to this inquiry it is to be remarked, that the words 'all bonds for duties now outstanding,' are considered to embrace all bonds not in suit given prior to the date of the act, whether due and unpaid, as well as those becoming due. The only exception is such as come within the provision of the proviso of the first section, where the parties are 'considered insolvent, or unsafe securities for the payment of their bonds.' Care, however, must be taken to allow in no case an extension of credit beyond the time authorized by the act, to wit: 'nine months from the time when the original bond became due and payable.'
Second inquiry—'Whether bonds may be taken for a less sum than two hundred dollars.'
As the second section of the law provides that a credit of three and six months shall be allowed on the duty on all merchandise imported on or before the first day of November next, upon which the duties are payable in cash, this inquiry is answered in the negative.
3d. 'Whether the interest upon goods at present in public stores is to be calculated from the date of the entry of cash goods, or from the period when the credit is to commence, say first of November next.'
In answer to this question, I would observe, that by reference to the 6th section of the tariff act of the 14th of July, 1832, requiring the duties 'to be paid in cash' on 'all wool, manufactures of wool, or of which wool is a component part,' that option is given to the importer to place them in public stores under bond at his risks, subject to the payment of the customary storage and charges, 'and to the payment of interest at the rate of six per centum per annum while so stored.'
In all cases, therefore, of goods of this description now lying in public stores, or imported before the first of November, the interest must commence with the date of the entries respectively, and to be so stated in the bond.
I am, very respectfully,
Your obt servant,
LEVI WOODBURY,
Secretary of the Treasury.
Samuel Swartwout, Esq.,
Collector of the Customs, New York.
Several inquiries from different ports having been made at the Treasury Department, as to the proper construction to be placed on the late act of Congress authorizing the extension of duty bonds, we publish below, for the information of those interested, a copy of the instructions this day sent to the collector of New York, on the subject.—Globe.
Treasury Department,
October 30, 1837.
Sir: Inquiries having been submitted by some of the Collectors as well as merchants, respecting the proper construction to be put upon the act of Congress, approved the 16th instant, 'Authorizing a further postponement of payment upon duty bonds,' the Department has deemed it proper to prepare a circular, supplemental to the one issued under date of the 17th of the present month, expressing its views upon the points presented. As some delay, however, must necessarily take place incident to the printing of this circular, I deem it proper at once to advise you of the substance of the instructions given in it. You are authorized to publish the result for the information of those interested.
The first inquiry proposed is, 'Whether under the first section of the act, relief is to be extended to cases of all bonds given previous to the date of the law and outstanding, whether due or to become due, before or after the passage of the law.'
In answer to this inquiry it is to be remarked, that the words 'all bonds for duties now outstanding,' are considered to embrace all bonds not in suit given prior to the date of the act, whether due and unpaid, as well as those becoming due. The only exception is such as come within the provision of the proviso of the first section, where the parties are 'considered insolvent, or unsafe securities for the payment of their bonds.' Care, however, must be taken to allow in no case an extension of credit beyond the time authorized by the act, to wit: 'nine months from the time when the original bond became due and payable.'
Second inquiry—'Whether bonds may be taken for a less sum than two hundred dollars.'
As the second section of the law provides that a credit of three and six months shall be allowed on the duty on all merchandise imported on or before the first day of November next, upon which the duties are payable in cash, this inquiry is answered in the negative.
3d. 'Whether the interest upon goods at present in public stores is to be calculated from the date of the entry of cash goods, or from the period when the credit is to commence, say first of November next.'
In answer to this question, I would observe, that by reference to the 6th section of the tariff act of the 14th of July, 1832, requiring the duties 'to be paid in cash' on 'all wool, manufactures of wool, or of which wool is a component part,' that option is given to the importer to place them in public stores under bond at his risks, subject to the payment of the customary storage and charges, 'and to the payment of interest at the rate of six per centum per annum while so stored.'
In all cases, therefore, of goods of this description now lying in public stores, or imported before the first of November, the interest must commence with the date of the entries respectively, and to be so stated in the bond.
I am, very respectfully,
Your obt servant,
LEVI WOODBURY,
Secretary of the Treasury.
Samuel Swartwout, Esq.,
Collector of the Customs, New York.
What sub-type of article is it?
Economic
What keywords are associated?
Duty Bonds
Treasury Instructions
Congress Act
Customs Duties
Import Relief
What entities or persons were involved?
Levi Woodbury
Samuel Swartwout
Where did it happen?
New York
Domestic News Details
Primary Location
New York
Event Date
October 30, 1837
Key Persons
Levi Woodbury
Samuel Swartwout
Event Details
Treasury Department issues instructions clarifying the act of Congress approved October 16, 1837, authorizing postponement of payment on duty bonds. Addresses inquiries on applicability to outstanding bonds, minimum bond amounts, and interest calculation on stored goods, particularly wool imports.