In case an importer shows that imported merchandise was purchased at more than actual market value, he may deduct the difference at time of entry and pay duty only on the wholesale foreign market value, under Section III., paragraph 1.
On the other hand, if the examiner finds merchandise to be undervalued on the invoice, such merchandise is subject to additional penal duties, but in case of disagreement between the importer and the examiner as to the actual market value, appeal may be taken to the Customs Court.
Since the Philippine Islands are possessions of the United States, pearls from those islands may be admitted free of duty when the facts of their origin are certified to.
In the case of precious stones which had their origin in the United States, but which were exported and kept for a time abroad it has been ruled that such stones may be imported into the United States free of duty.
When precious or imitation precious stones are imported into the United States and subsequently mounted into jewelry which is then exported, the duty which was paid upon entry may be refunded less a deduction of 1%.
The author wishes to extend his thanks to Examiner W. B. Treadwell of New York, for his assistance in regard to the subject dealt with in this lesson.
BIBLIOGRAPHY
The student of gems will, of course, want to read many books on the subject and the following brief bibliography will enable the beginner to select his reading wisely from the start. Much more complete bibliographies will be found in some of the books listed here, one which is notably complete to date of publication is contained in Diamonds and Precious Stones, by Harry Emanuel, F.R.G.S., London, John Camden Hotten, 1867. This covers many languages.