Executive Order 2462—Amending Consular Regulations 692

Paragraph 692 of the Consular Regulations of 1896 is hereby amended to read as follows:

Currency Certificates.--When the price or value of merchandise obtained by purchase, shipped pursuant to an agreement of purchase, or consigned for sale in the United States is expressed in the invoice in depreciated currency, a currency certificate (form 144) must be attached to the invoice showing the percentage of depreciation as compared with the corresponding standard coin currency and the value in such standard coin currency of the total amount of the depreciated currency stated in the invoice. (Rev. Stat., Sec. 2903; T. D. 17252.) This certificate should show, not the value of the depreciated currency in money of account of the United States, but its value in the terms of the standard coin currency in comparison with which the currency stated in the invoice is depreciated. (T. D. 11314, 17170.)

In the assessment of duty the currency of the invoice is reduced to the money of account of the United States upon the basis of the values of foreign coins at the date of shipment, as proclaimed by the Secretary of the Treasury for the first day of January, April, July, and October of each year. (Tariff of 1894, Sec. 25; T. D. 16921.) The date of the consular certification of any invoice shall, for the purposes of this section, be considered the date of exportation. (Tariff of 1894, Sec. 25) In the absence of a currency certificate no allowance will be made for depreciated currency. (T. D. 15435.)

When an invoice is certified by a consul of a nation at the time in amity with the United States, or by two respectable merchants, as provided by section 2844, Revised Statutes, the currency certificate required by section 2903, Revised Statutes, may be issued by the foreign consul of the two respectable merchants who certify the invoice.

For statistical purposes, currency certificates are required for all invoices of merchandise wherein the price or value is expressed in depreciated currency, without regard to the dutiable or nondutiable character of the merchandise.

WOODROW WILSON

THE WHITE HOUSE,

September 28, 1916.