Customs Law.

Hokitika Guardian, 8 September 1922, Page 4

Customs Law.

CONCESSION TO TRADERS. FURTHER- DUMPING SAFEGUARDS. WELLINGTON, September 5. An important concession to tradeis in meeting the difficult position due to declining values is contained in an amendment of the Customs Aut introduced by the Minister of Customs today. It extends the operation of Clause 150 of the Customs Act, 1913, which provided that when goods had been warehoused not less than two years and the Controller of Customs is satisfied that they have diminished in values he may allow a remission of duty in respect to any warehoused goods notwithstanding that such goods may not have been warehoused for two years.

The depreciated currency question is tile subject of a new clause, providing that hi respect of goods imported from countries having depreciated currency the special duty in the case of goods imported from countries where depreciation in tie commercial or banking value of the monetary wyt in relation to the sovereign exceeds at the data of exportation 00 per cent of the value of that unit in accordance with the mintage rate of exchange shall he .>(11011 ad valorem duty as the Governor-Gen-eral may from time to time by Ordor-in Council determine. The Minister of Customs is giren power to fix classes of goods in respect to which special d '- preeiated currency duty shall ire leviable.

Tlie anti-dumping legislation is further strengthened by a clause enabling tlie Minister of Customs, in the ease of foreign goods competing with British to determine, without appeal a nominal value of those goods (whether such value is in his opinion the true current domestic value or not). If in his opinion, tlie importation of those goods would be likely to prejudicially or injuriously to affect any industry or business established or carried on in New Zealand or elsewhere in the British dominions, tlie nominal value so determined shall lie such that the cost of goods to tlie importer, including duty, imported from and being the produce or manufacture of some part of the British dominions. The Hon. W .Downie Stewart remarked in introducing the Bill thnt it would protect the British trader against the German when trading rchvtions were resumed.